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Company registration number: 12452348
SOLID GOLD ENTERTAINMENT LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
29 February 2024
SOLID GOLD ENTERTAINMENT LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SOLID GOLD ENTERTAINMENT LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr D S Childs
Mrs H Morewood
Company number 12452348
Registered office Countrywide House
Knights Way
Shrewsbury
SY1 3AB
Business address 22 Weston Road
Morda
Oswestry
SY10 9NS
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
SOLID GOLD ENTERTAINMENT LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOLID GOLD ENTERTAINMENT LIMITED
PERIOD ENDED 29TH FEBRUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solid Gold Entertainment Limited for the period ended 29 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Solid Gold Entertainment Limited, as a body, in accordance with the terms of our engagement letter dated 13 March 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Solid Gold Entertainment Limited and state those matters that we have agreed to state to the board of directors of Solid Gold Entertainment Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solid Gold Entertainment Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Solid Gold Entertainment 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 Solid Gold Entertainment Limited. You consider that Solid Gold Entertainment Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Solid Gold Entertainment 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.
Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
26 November 2024
SOLID GOLD ENTERTAINMENT LIMITED
STATEMENT OF FINANCIAL POSITION
29TH FEBRUARY 2024
29/02/24 28/02/23
Note £ £ £ £
Fixed assets
Intangible assets 5 24,000 28,000
Tangible assets 6 18,724 19,838
_______ _______
42,724 47,838
Current assets
Debtors 7 20,106 8,155
Cash at bank and in hand 878 6,130
_______ _______
20,984 14,285
Creditors: amounts falling due
within one year 8 ( 44,366) ( 48,720)
_______ _______
Net current liabilities ( 23,382) ( 34,435)
_______ _______
Total assets less current liabilities 19,342 13,403
Creditors: amounts falling due
after more than one year 9 ( 31,427) ( 36,908)
Provisions for liabilities - ( 3,769)
_______ _______
Net liabilities ( 12,085) ( 27,274)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 12,087) ( 27,276)
_______ _______
Shareholders deficit ( 12,085) ( 27,274)
_______ _______
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr D S Childs Mrs H Morewood
Director Director
Company registration number: 12452348
SOLID GOLD ENTERTAINMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
PERIOD ENDED 29TH FEBRUARY 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2022 2 ( 14,896) ( 14,894)
Profit/(loss) for the period ( 12,380) ( 12,380)
_______ _______ _______
Total comprehensive income for the period - ( 12,380) ( 12,380)
_______ _______ _______
At 28 February 2023 and 1 March 2023 2 (27,274) (27,272)
Profit/(loss) for the period 15,187 15,187
_______ _______ _______
Total comprehensive income for the period - 15,187 15,187
_______ _______ _______
At 29 February 2024 2 ( 12,087) ( 12,085)
_______ _______ _______
SOLID GOLD ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 29TH FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is insolvent and is reliant on the continued support of the directors.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10.00 % straight line
Tangible assets
tangible assets are initially recorded at cost, and are 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, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 March 2023 and 29 February 2024 40,000 40,000
_______ _______
Amortisation
At 1 March 2023 12,000 12,000
Charge for the period 4,000 4,000
_______ _______
At 29 February 2024 16,000 16,000
_______ _______
Carrying amount
At 29 February 2024 24,000 24,000
_______ _______
At 28 February 2023 28,000 28,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 March 2023 1,523 22,863 24,386
Additions - 2,639 2,639
Disposals - ( 700) ( 700)
_______ _______ _______
At 29 February 2024 1,523 24,802 26,325
_______ _______ _______
Depreciation
At 1 March 2023 239 4,307 4,546
Charge for the year 193 2,989 3,182
Disposals - ( 127) ( 127)
_______ _______ _______
At 29 February 2024 432 7,169 7,601
_______ _______ _______
Carrying amount
At 29 February 2024 1,091 17,633 18,724
_______ _______ _______
At 28 February 2023 1,284 18,556 19,840
_______ _______ _______
7. Debtors
29/02/24 28/02/23
£ £
Trade debtors 15,204 5,873
Other debtors 4,902 2,282
_______ _______
20,106 8,155
_______ _______
8. Creditors: amounts falling due within one year
29/02/24 28/02/23
£ £
Bank loans and overdrafts 5,351 5,091
Trade creditors 389 941
Social security and other taxes 3,454 1,187
Other creditors 35,172 41,501
_______ _______
44,366 48,720
_______ _______
9. Creditors: amounts falling due after more than one year
29/02/24 28/02/23
£ £
Other creditors 31,427 36,908
_______ _______
10. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 29/02/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D S Childs ( 18,682) 2,073 ( 16,609)
Mrs H Morewood ( 18,682) 2,073 ( 16,609)
_______ _______ _______
( 37,364) 4,146 ( 33,218)
_______ _______ _______
Year ended 28/02/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D S Childs ( 18,010) ( 672) ( 18,682)
Mrs H Morewood ( 18,010) ( 672) ( 18,682)
_______ _______ _______
( 36,020) ( 1,344) ( 37,364)
_______ _______ _______