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
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
SPARKS FILM AND MEDIA ARTS LTD
Statement of financial position
as at 31 December 2021
Tangible assets
1,567
1,656
Cash at bank and in hand
3,843
5,345
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)
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
SPARKS FILM AND MEDIA ARTS LTD
Notes to the Accounts
for the year ended 31 December 2021
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2021
18,921
-
18,921
At 31 December 2021
18,921
540
19,461
At 1 January 2021
17,265
-
17,265
Charge for the year
561
68
629
At 31 December 2021
17,826
68
17,894
At 31 December 2021
1,095
472
1,567
At 31 December 2020
1,656
-
1,656
SPARKS FILM AND MEDIA ARTS LTD
Notes to the Accounts
for the year ended 31 December 2021
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Investments
Subsidiary undertakings
Valuation at 1 January 2021
12,463
Valuation at 31 December 2021
12,463
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Debtors: amounts falling due within one year
2021
2020
Amounts due from group undertakings etc.
60,352
-
Other debtors
36,545
34,736
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Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
45,506
22,417
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)
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Creditors: amounts falling due after more than one year
2021
2020
Bank loans
190,078
140,000
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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.
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Average number of employees
During the year the average number of employees was 5 (2020: 3).