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COMPANY REGISTRATION NUMBER: 07943129
19 EVENTS LONDON LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2022
19 EVENTS LONDON LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
24,879
7,581
CURRENT ASSETS
Debtors
6
6,895
1,600
Cash at bank and in hand
8,825
326
--------
-------
15,720
1,926
CREDITORS: amounts falling due within one year
7
98,223
98,128
--------
--------
NET CURRENT LIABILITIES
82,503
96,202
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 57,624)
( 88,621)
CREDITORS: amounts falling due after more than one year
8
14,418
--------
--------
NET LIABILITIES
( 72,042)
( 88,621)
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 72,043)
( 88,622)
--------
--------
SHAREHOLDERS DEFICIT
( 72,042)
( 88,621)
--------
--------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 28 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
19 EVENTS LONDON LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2022
These financial statements were approved by the board of directors and authorised for issue on 27 August 2022 , and are signed on behalf of the board by:
Ms G M Hoffman
Director
Company registration number: 07943129
19 EVENTS LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 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 5-6 Bolsover House, Clipstone Street, London, W1W 6BB.
2. STATEMENT OF COMPLIANCE
These 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.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director and creditors. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
33% straight line
Motor vehicles
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2021: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 March 2021
9,482
24,694
34,176
Additions
993
25,990
26,983
Disposals
( 24,694)
( 24,694)
--------
--------
--------
At 28 February 2022
10,475
25,990
36,465
--------
--------
--------
Depreciation
At 1 March 2021
8,846
17,749
26,595
Charge for the year
574
2,166
2,740
Disposals
( 17,749)
( 17,749)
--------
--------
--------
At 28 February 2022
9,420
2,166
11,586
--------
--------
--------
Carrying amount
At 28 February 2022
1,055
23,824
24,879
--------
--------
--------
At 28 February 2021
636
6,945
7,581
--------
--------
--------
6. DEBTORS
2022
2021
£
£
Trade debtors
4,449
Other debtors
2,446
1,600
-------
-------
6,895
1,600
-------
-------
7. CREDITORS: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
1
Social security and other taxes
8,722
6,630
Other creditors
89,501
91,497
--------
--------
98,223
98,128
--------
--------
Included within other creditors are amounts totalling £2,564 (2021 - £10,201) relating to hire purchase agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Other creditors
14,418
--------
----
Included within other creditors are amounts totalling £14,418 (2021 - £nil) relating to hire purchase agreements which are secured by the company.
9. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The director has advanced monies to the company. At 28 February 2022 the amount due from the company was £85,738 (2021 - £81,296). The loan is unsecured and interest free.
10. GOING CONCERN
The director has considered the period to August 2023 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.