Company Registration No. 06673624 (England and Wales)
LOWY HAMILTON ARTISTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
LOWY HAMILTON ARTISTS LIMITED
COMPANY INFORMATION
Directors
Mrs G K Hamilton
Mr S M Hamilton
Company number
06673624
Registered office
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LOWY HAMILTON ARTISTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
LOWY HAMILTON ARTISTS LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LOWY HAMILTON ARTISTS LIMITED FOR THE YEAR ENDED 30 AUGUST 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lowy Hamilton Artists Limited for the year ended 30 August 2023 set out on pages to 5 from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Lowy Hamilton Artists Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lowy Hamilton Artists Limited. You consider that Lowy Hamilton Artists Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lowy Hamilton Artists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Theataccounts Limited
23 January 2024
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LOWY HAMILTON ARTISTS LIMITED
BALANCE SHEET
AS AT 30 AUGUST 2023
30 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,596
2,918
Current assets
Debtors
4
4,227
17,269
Cash at bank and in hand
33,231
11,057
37,458
28,326
Creditors: amounts falling due within one year
5
(26,619)
(31,113)
Net current assets/(liabilities)
10,839
(2,787)
Total assets less current liabilities
13,435
131
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
13,335
31
Total equity
13,435
131
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 by the board of directors and authorised for issue on 23 January 2024 and are signed on its behalf by:
Mrs G K Hamilton
Director
Company Registration No. 06673624
LOWY HAMILTON ARTISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2023
- 3 -
1
Accounting policies
Company information
Lowy Hamilton Artists Limited is a private company limited by shares incorporated in England and Wales. The registered office is Theataccounts Limited, The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
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:
Plant and machinery
25% reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LOWY HAMILTON ARTISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 August 2022
8,204
Additions
544
At 30 August 2023
8,748
Depreciation and impairment
At 31 August 2022
5,286
Depreciation charged in the year
866
At 30 August 2023
6,152
Carrying amount
At 30 August 2023
2,596
At 30 August 2022
2,918
LOWY HAMILTON ARTISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 AUGUST 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,227
6,560
Other debtors
10,709
4,227
17,269
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,447
Corporation tax
15,807
13,331
Other taxation and social security
8,921
7,139
Other creditors
1,891
2,196
26,619
31,113
6
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
-
8,447
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
75 Ordinary A of £1 each
75
75
25 Ordinary B of £1 each
25
25
100
100
8
Ultimate controlling party
The ultimate controlling party is Mrs G K Hamiltion.