REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SLAPSTICK FESTIVAL LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SLAPSTICK FESTIVAL LIMITED |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
SLAPSTICK FESTIVAL LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 MARCH 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
and Statutory Auditor |
61 Queen Square |
Bristol |
BS1 4JZ |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
REPORT OF THE DIRECTOR |
for the Year Ended 31 MARCH 2023 |
The director presents his report with the financial statements of the company for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the staging and promotion of an annual comedy arts festival in the city of Bristol. |
The company is limited by guarantee and does not have share capital. The liability of each member is limited to £1 in the event of a winding up. |
The income and property of the company shall be applied solely towards the promotion of its principal activity as set out above and no part of such property and income may be paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to members of the company. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
RESERVES |
Income and expenditure account |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Slapstick Festival Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
Income includes grants, donations, box office income and earned income. |
Grants and donations are recognised on an accruals basis, with income recognised in the Income Statement in the period to which it relates. |
Box office income is recognised on an accruals basis, with income recognised in the Income Statement in the period to which the performance relates. |
Earned income in respect of services provided is accounted for on an accruals basis, with income recognised in the Income Statement in the period to which it relates. |
Tangible fixed assets |
Computer equipment | - |
Government grants |
The company received Local Restrictions Support Grant payments during the prior year. These have been recognised as Other Operating Income when received. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs. |
Going concern |
The director has reviewed the going concern status of the business for the foreseeable future as best he and fully expect, that the company will remain a going concern and will have sufficient working capital to meet its requirements for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in preparing these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Corporation tax recoverable |
VAT |
Accrued income |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
VAT | 2,524 | - |
Director's current account | 1,253 | 610 |
Deferred income |
Accrued expenses |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
SLAPSTICK FESTIVAL LIMITED (REGISTERED NUMBER: 07750430) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2023 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Provided during year | ( |
) |
Balance at 31 March 2023 |
8. | RELATED PARTY DISCLOSURES |
At the year end the company owed money to C A Daniels, a director of the company, amounting to £1,253 (2022 - £610). No interest has been charged on this amount. |
9. | ULTIMATE CONTROLLING PARTY |
The director considers that there is no one ultimate controlling party. The company is controlled by its members who each have one vote and no individual member has ultimate control of the company as determined by the Memorandum and Articles of Association. |
10. | LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have share capital. The liability of each member is limited to £1 in the event of a winding up. |
The income and property of the company shall be applied solely towards the promotion of its principal activity as set out in the report of the director and no part of such property and income may be paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to members of the company. |