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Company Registration No. 07250384 (England and Wales)
SPARKS FILM AND MEDIA ARTS LTD UNAUDITED ACCOUNTS for the year ended 31 December 2021
SPARKS FILM AND MEDIA ARTS LTD UNAUDITED ACCOUNTS Contents
Page
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SPARKS FILM AND MEDIA ARTS LTD Company Information for the year ended 31 December 2021
Directors
Daniel Farrell Donna Bamford
Company Number
07250384 (England and Wales)
Registered Office
3rd Floor 86-90 Paul Street London EC2A 4NE
Accountants
Annette & Co. 28 Kittlegairy Crescent Peebles EH45 9NJ
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SPARKS FILM AND MEDIA ARTS LTD Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,567 
1,656 
Investments
12,463 
12,463 
14,030 
14,119 
Current assets
Debtors
103,837 
34,736 
Cash at bank and in hand
3,843 
5,345 
107,680 
40,081 
Creditors: amounts falling due within one year
70,545 
96,868 
Net current assets
178,225 
136,949 
Total assets less current liabilities
192,255 
151,068 
Creditors: amounts falling due after more than one year
(190,078)
(140,000)
Net assets
2,177 
11,068 
Reserves
Profit and loss account
2,177 
11,068 
Members' funds
2,177 
11,068 
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2022 and were signed on its behalf by
Daniel Farrell Director Company Registration No. 07250384
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SPARKS FILM AND MEDIA ARTS LTD Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
SPARKS FILM AND MEDIA ARTS LTD is a private company, limited by guarantee, registered in England and Wales, registration number 07250384. The registered office is 3rd Floor , 86-90 Paul Street, London, EC2A 4NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
18% Straigh Line method
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2021
18,921 
- 
18,921 
Additions
- 
540 
540 
At 31 December 2021
18,921 
540 
19,461 
Depreciation
At 1 January 2021
17,265 
- 
17,265 
Charge for the year
561 
68 
629 
At 31 December 2021
17,826 
68 
17,894 
Net book value
At 31 December 2021
1,095 
472 
1,567 
At 31 December 2020
1,656 
- 
1,656 
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SPARKS FILM AND MEDIA ARTS LTD Notes to the Accounts for the year ended 31 December 2021
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2021
12,463 
Valuation at 31 December 2021
12,463 
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
6,940 
- 
Amounts due from group undertakings etc.
60,352 
- 
Other debtors
36,545 
34,736 
103,837 
34,736 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
45,506 
22,417 
VAT
13,960 
- 
Trade creditors
11,115 
3,905 
Amounts owed to group undertakings and other participating interests
- 
(2,155)
Taxes and social security
6,616 
22,587 
Other creditors
8,397 
3,312 
Loans from directors
(156,139)
(146,934)
(70,545)
(96,868)
8
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
190,078 
140,000 
9
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £2.
10
Average number of employees
During the year the average number of employees was 5 (2020: 3).
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