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COMPANY REGISTRATION NUMBER: 03684327
Gary Sinclair Entertainments Ltd
Filleted Unaudited Abridged Financial Statements
31 March 2022
Gary Sinclair Entertainments Ltd
Abridged Financial Statements
Year Ended 31 March 2022
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Gary Sinclair Entertainments Ltd
Abridged Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed Assets
Tangible assets
4
2,279
489
Current Assets
Debtors
36,397
56,040
Cash at bank and in hand
8,402
257
--------
--------
44,799
56,297
Creditors: amounts falling due within one year
7,983
24,237
--------
--------
Net Current Assets
36,816
32,060
--------
--------
Total Assets Less Current Liabilities
39,095
32,549
Creditors: amounts falling due after more than one year
9,500
12,500
Provisions
433
--------
--------
Net Assets
29,162
20,049
--------
--------
Capital and Reserves
Called up share capital
5
2
2
Profit and loss account
29,160
20,047
--------
--------
Shareholders Funds
29,162
20,049
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Gary Sinclair Entertainments Ltd
Abridged Statement of Financial Position (continued)
31 March 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 30 August 2022 , and are signed on behalf of the board by:
Mr G Sinclair
Director
Company registration number: 03684327
Gary Sinclair Entertainments Ltd
Notes to the Abridged Financial Statements
Year Ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, S40 1LA.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date .
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses .
4. Tangible assets
£
Cost
At 1 April 2021
10,049
Additions
2,550
--------
At 31 March 2022
12,599
--------
Depreciation
At 1 April 2021
9,560
Charge for the year
760
--------
At 31 March 2022
10,320
--------
Carrying amount
At 31 March 2022
2,279
--------
At 31 March 2021
489
--------
5. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
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