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REGISTERED NUMBER: 03831969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2018

for

Concept Venues Limited

Concept Venues Limited (Registered number: 03831969)






Contents of the Financial Statements
for the Year Ended 31 December 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Concept Venues Limited

Company Information
for the Year Ended 31 December 2018







DIRECTORS: M N J Fuller
S Naker
R C Smallwood
A J Taylor





SECRETARY: A Leyshon





REGISTERED OFFICE: 20 Warwick Street
London
W1B 5NF





REGISTERED NUMBER: 03831969 (England and Wales)






Concept Venues Limited (Registered number: 03831969)

Balance Sheet
31 December 2018

31.12.18 31.12.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 14,598 18,886
Investments 4 1,406,219 1,406,219
1,420,817 1,425,105

CURRENT ASSETS
Debtors 5 10,326,221 9,281,224
Cash at bank 3,855 -
10,330,076 9,281,224
CREDITORS
Amounts falling due within one year 6 17,013,563 15,861,996
NET CURRENT LIABILITIES (6,683,487 ) (6,580,772 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,262,670

)

(5,155,667

)

CREDITORS
Amounts falling due after more than
one year

7

628,824

735,738
NET LIABILITIES (5,891,494 ) (5,891,405 )

CAPITAL AND RESERVES
Called up share capital 787 787
Share premium 306,548 306,548
Retained earnings (6,198,829 ) (6,198,740 )
SHAREHOLDERS' FUNDS (5,891,494 ) (5,891,405 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

Concept Venues Limited (Registered number: 03831969)

Balance Sheet - continued
31 December 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 September 2019 and
were signed on its behalf by:





M N J Fuller - Director


Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements
for the Year Ended 31 December 2018

1. STATUTORY INFORMATION

Concept Venues Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment 10% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated
into sterling at the rate of exchange ruling at the date of transaction. Exchange differences
are taken into account in arriving at the operating result.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases when they transfer substantially all the risks and
rewards of ownerships of the leased assets to the company. Other leases that do not
transfer substantially all the risks and rewards of ownership of the leased assets to the
company are classified as operating leases.

The company has entered into some hire purchase agreements for certain assets that
include the option to purchase the items at the end of the lease term for a nominal amount,
which is expected to be much lower than their fair value at that date. The hire purchase
agreements have been classified as finance leases as it is reasonably certain that the option
will be exercised.

Rights to use assets and corresponding obligations to lessors under finance leases are
recognised in the statement of financial position as assets and liabilities at the lower of fair
value of the assets and the present balance of the minimum lease payments, determined at
the inception of the lease.

Lease payments are apportioned between finance charges and reduction of outstanding
lease liabilities using the effective interest method, so as to produce a constant rate of
interest on the remaining balance of the liabilities. Finance charges are recognised in profit
or loss. Assets held under finance leases are included in property, plant and equipment and
are depreciated and reviewed for impairment in the same way as assets owned outright.
Payments received under operating leases are recognised as income over lease term on a
straight-line basis.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the
contractual arrangements entered into. An equity instrument is any contract that evidences
a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are
equivalent to a similar debt instrument, those financial instruments are classed as financial
liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and
gains or losses relating to financial liabilities are included in the profit and loss account.
Finance costs are calculated so as to produce a constant rate of return on the outstanding
liability.

Where the contractual terms of share capital do not have any terms meeting the definition of
a financial liability then this is classed as an equity instrument.

Going concern
The company's liabilities exceed its assets by £5,981,494 (2017: £5,891,405). The company
depends on the continuing financial support of a director who has confirmed his ongoing
financial support of the company and his ability to do so for the foreseeable future. For this
reason the financial statements have been prepared on a going concern basis.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018
and 31 December 2018 53,555
DEPRECIATION
At 1 January 2018 34,669
Charge for year 4,288
At 31 December 2018 38,957
NET BOOK VALUE
At 31 December 2018 14,598
At 31 December 2017 18,886

4. FIXED ASSET INVESTMENTS
Shares in
group Shares in
undertakings associate Totals
£    £    £   
COST
At 1 January 2018
and 31 December 2018 38,650 1,367,569 1,406,219
NET BOOK VALUE
At 31 December 2018 38,650 1,367,569 1,406,219
At 31 December 2017 38,650 1,367,569 1,406,219

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Trade debtors 71,202 53,601
Amounts owed by group undertakings 4,056,763 4,301,811
Other debtors 6,198,256 4,925,812
10,326,221 9,281,224

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Bank loans and overdrafts 554,061 647,480
Trade creditors 300,342 215,080
Amounts owed to group undertakings 750,877 737,473
Taxation and social security 2,112 14,845
Other creditors 15,406,171 14,247,118
17,013,563 15,861,996

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.18 31.12.17
£    £   
Other creditors 628,824 735,738

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs
non-instalment's 628,824 735,738
628,824 735,738

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.18 31.12.17
£    £   
Bank overdraft 61 -
Bank loans 554,000 647,480
554,061 647,480

The following debentures existed at the year end:
Date Name Amount Description

14/07/08 HSBC Private Bank (UK)
Limited
All monies due
or to become
due to the
company.
Fixed & floating charge
over the undertaking and all
property and assets present
and future.

04/11/09 A.J.Taylor (As Security
Trustee)
All monies due
or to become
due the
company.
Fixed & floating charge over
the undertaking and all
property and assets present
and future.

17/10/11 A.J Taylor All monies due
or to become
due to the
company.
All properties, all present
and future rights licences,
guarantees, rents, deposits,
contracts, covenants and
warranties.




04/04/13


Phantom Music
ManagementLtd
All monies due
or to become
due to the
company.
Fixed & floating charge over
the undertaking and all
property and assets present
and future.




04/04/13



Sphere Entertainment Ltd
All monies due
or to become
due to the
company
Fixed & floating charge over
the undertaking and all
property and assets present
and future.














Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

The following security is given by the company in respect of Sanctum On The Green Ltd:

Alfandari Private Equites Ltd £30,324 (2016: £76,299).

Date Name Amount Description

06/10/2016 Alfandari
Private
Equities
Limited
All monies due or to
become due from the
company.
Debenture - Given by Concept
Venues Ltd including fixed charge
over present and future freehold and
lease hold property. Fixed charge
over, among other things, interest,
future rights, licences, guarantees,
rents, deposits, contracts, covenants
relating to properties. All intellectual
property. Full details given charge
code 038319690010.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended
31 December 2018 and 31 December 2017:

31.12.18 31.12.17
£    £   
A J Taylor
Balance outstanding at start of year (822,878 ) (1,050,154 )
Amounts advanced (34,116 ) -
Amounts repaid - 227,276
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (856,994 ) (822,878 )

The amount is classified as a current creditor and is repayable on demand, interest of 5% is
charged on the amount owing to the director.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the
group.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

10. RELATED PARTY DISCLOSURES - continued

A J Taylor
Companies in which A J Taylor is also a director.


During the year the the following transactions occurred between the related parties and the
company:

Iron Maiden Holdings Ltd:
At the balance sheet date the company owes £5,211 to Iron Maiden Holdings Ltd (2017:
£28,749).

Phantom Music Management Ltd:
During the year Phantom Music Management Ltd provided net funding to Concept Venues
Ltd totalling £150,000 (2017: £191,836). At the balance sheet date the company owes
£4,180,884 to Phantom Music Management Ltd (2017: £4,105,884). The company also
owes £1,220,000 (2017: £1,220,000) in loan notes to Phantom Music Management Ltd.

Sphere Entertainment Ltd:
During the year Sphere Entertainment Ltd provided net funding to Concept Venues Ltd
totalling £490,690(2017: £811,584). At the balance sheet date the company owed
£2,811,590 (2017: £2,320,900) to Sphere Entertainment Ltd.

The Inn On The Green Ltd:
At the balance sheet date the company owed £250,000 (2017: £250,000) in loan notes.

All amounts are classified as current debtors / creditors and are repayable on demand, no
interest is charged.

A J Taylor

A director of the company.


At the balance sheet date the company owes A J Taylor £856,994 (2017: £822,878). The
amount is classified as a current creditor and is repayable on demand, interest of 5% is
charged on amounts owing to the director.

Sanctuary Management Productions Ltd


A company in which A J Taylor and R C Smallwood have significant control.

As at the balance sheet date the company owes Sanctuary Management Productions Ltd
£200,000 (2017: £200,000). The amount is classified as a current debtor and is repayable
on demand, no interest is charged on the amount.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

10. RELATED PARTY DISCLOSURES - continued

The Sanctum London Ltd

A subsidiary of the company.


The Sanctum London Ltd received funding of £1,160,581 from Concept Venues Ltd in the
year (2017: £661,414). At the balance sheet date The Sanctum London Ltd owes the
company £1,737,652 (2017: £842,071). The amount is classified as a current debtor and is
repayable on demand, no interest is charged.

A Cooke

A Shareholder in the company.


At the balance sheet date the company owed £650,000 (2017: £650,000) in loan notes. The
amount is classified as a current creditor and is repayable on demand, interest is charged at
5%.

R C Smallwood
Companies in which R C Smallwood is also a director and shareholder.


R & K Enterprises Limited

During the year R&K Enterprises Limited provide funding of £NIL (2017: £150,000) to the
company. At the balance sheet date the company owes R&K Enterprises £376,808 (2076:
£376,808). The amount is classified as a current creditor and is repayable on demand, no
interest is charged.

A J Taylor
Director.


During the year A J Taylor advanced the company £45,410 (2017: the company repaid A J
Taylor £238,750). At the balance sheet date the company owed A J Taylor £856,994 (2017:
£811,584). The amount is classified as a current creditor and is repayable on demand, no
interest is charged.

Geales Restaurant Ltd

A subsidiary of the company.


During the year the company made net funding to Concept Venues Ltd of £13,404 (2017:
the company received repayments from Concept Venues Ltd of £287,660). At the balance
sheet date Concept Venues Ltd owes the company £750,877 (2017: £737,473). The
amount is classified as a current creditor and is repayable on demand, no interest is
charged.

Concept Venues Limited (Registered number: 03831969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

10. RELATED PARTY DISCLOSURES - continued

Sanctum On The Green Ltd

A subsidiary of the company.


During the year the company repaid £38,020 to Concept Venues Ltd (2017: £112,673). At
the balance sheet date the company owes Concept Venues Ltd £2,319,111 (2017:
£2,352,131). The amount is classified as a current debtor and is repayable on demand, no
interest is charged.

11. ULTIMATE CONTROLLING PARTY

A J Taylor, M N J Fuller and R C Smallwood, directors and shareholders of the company.