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Registration number: 09319412

Kemp Creative Arts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Kemp Creative Arts Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kemp Creative Arts Limited

Company Information

Directors

Mrs C Kent

Miss J Kemp

Registered office

The Rock
Wettleton Hill
Craven Arms
Shropshire
SY7 9AN

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Kemp Creative Arts Limited

(Registration number: 09319412)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,439

3,023

Current assets

 

Debtors

5

5,397

9,998

Creditors: Amounts falling due within one year

6

(17,826)

(22,534)

Net current liabilities

 

(12,429)

(12,536)

Net liabilities

 

(10,990)

(9,513)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(11,090)

(9,613)

Shareholders' deficit

 

(10,990)

(9,513)

For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 August 2022 and signed on its behalf by:
 

Miss J Kemp

Director

 

Kemp Creative Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Rock
Wettleton Hill
Craven Arms
Shropshire
SY7 9AN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is in a net liability position at 30 November 2021. The directors will continue to support the company to ensure all liabilities are met as they fall due. COVID-19 had a significant impact on the company over the period with all booked events postponed or cancelled. The directors have continued to look for new opportunities to ensure the business will continue over 12 months from the date of signing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Kemp Creative Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

Kemp Creative Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2020

14,531

14,531

At 30 November 2021

14,531

14,531

Depreciation

At 1 December 2020

11,508

11,508

Charge for the year

1,584

1,584

At 30 November 2021

13,092

13,092

Carrying amount

At 30 November 2021

1,439

1,439

At 30 November 2020

3,023

3,023

5

Debtors

Current

2021
£

2020
£

Other debtors

5,397

9,998

 

Kemp Creative Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Accruals and deferred income

17,826

22,533

Other creditors

-

1

17,826

22,534

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

At 30 November 2021 the directors owed the company a balance of £5,397 (2020 - £9,998), which is included in debtors.