Icon Theatrical Limited
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 05522076 (England and Wales)
Icon Theatrical Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Icon Theatrical Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
18,203
21,600
Creditors: amounts falling due within one year
4
(145,394)
(146,501)
Net current liabilities
(127,191)
(124,901)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(127,291)
(125,001)
Total equity
(127,191)
(124,901)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 November 2023
B R Potts
Director
Company Registration No. 05522076
Icon Theatrical Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 2
1
Accounting policies
Company information
Icon Theatrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Moseley Row, Greenwich, London, SE10 0QS.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Included within other creditors is an amount of £144,101 (2022: £144,101) due to the director. The director has confirmed that he will not recall the loan for repayment until such time that the company has sufficient working capital to do so, and will provide additional funding if necessary to meet its liabilities as they fall due for a period of not less than 12 months from the date of these financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments at fair value.
Icon Theatrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 3
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was nil (2022 - nil).
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2022 and 31 March 2023
517
Depreciation and impairment
At 1 April 2022 and 31 March 2023
517
Carrying amount
At 31 March 2023
At 31 March 2022
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
144,101
144,101
Accruals and deferred income
1,293
2,400
145,394
146,501
Icon Theatrical Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 4
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Related party transactions
Included within other creditors is an amount of £144,101 (2022: £144,101 ) due to the director. The balance is interest free and unsecured.