COMPANY REGISTRATION NUMBER:
14975773
Filleted Unaudited Abridged Financial Statements |
|
Abridged Statement of Financial Position |
|
31 July 2024
Fixed assets
Current assets
Debtors |
348 |
Cash at bank and in hand |
3,520 |
|
------- |
|
3,868 |
|
|
Creditors: amounts falling due within one year |
23,886 |
|
-------- |
Net current liabilities |
20,018 |
|
-------- |
Total assets less current liabilities |
(
19,017) |
|
-------- |
Net liabilities |
(
19,017) |
|
-------- |
|
|
Capital and reserves
Called up share capital |
3 |
Profit and loss account |
(
19,020) |
|
-------- |
Shareholders deficit |
(
19,017) |
|
-------- |
|
|
These abridged 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.
For the period ending 31st July 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 31st July 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 July 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
2 April 2025
, and are signed on behalf of the board by:
Company registration number:
14975773
Notes to the Abridged Financial Statements |
|
Period from 3rd July 2023 to 31st July 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 Flat 24, North Contemporis, 20 Merchants Road, Clifton, Bristol, BS8 4HH, England.
2.
Statement of compliance
These abridged 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 going concern basis. This basis may not be appropriate because the company has net liabilities at 31st July 2024. The future of the company is dependent upon the future support of the creditors. The accounts do not include any provisions for liabilities that may arise if the creditors support is withdrawn.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
All fixed assets are initially recorded at cost.
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:
|
Equipment |
- |
20% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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.
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 period amounted to
10
.
5.
Tangible assets
|
£ |
Cost |
|
At 3rd July 2023 |
– |
Additions |
1,251 |
|
------- |
At 31st July 2024 |
1,251 |
|
------- |
Depreciation |
|
At 3rd July 2023 |
– |
Charge for the period |
250 |
|
------- |
At 31st July 2024 |
250 |
|
------- |
Carrying amount |
|
At 31st July 2024 |
1,001 |
|
------- |
|
|
6.
Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
|
31 Jul 24 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mr H C Hood |
– |
3,000 |
(
3,000) |
– |
|
Mr F T W Goodall |
– |
– |
(
4,100) |
(
4,100) |
|
Mr S Zappi |
– |
8,500 |
(
19,638) |
(
11,138) |
|
|
---- |
-------- |
-------- |
-------- |
|
|
– |
11,500 |
(
26,738) |
(
15,238) |
|
|
---- |
-------- |
-------- |
-------- |
|
|
|
|
|
|
7.
Related party transactions
During the year the compmany was loaned money from HCH Events Ltd, a company wholly owned by Mr H Hood. The loan was partly repaid during the year and at the balance sheet date the company owed HCH Events Ltd £4,835. This loan is interest free and repayable on demand. During the year the company was loaned £200 from HHFG Production Ltd, a company jointly owned by Mr H Hood and Mr F Goodall. This balance remained outstanding at the balance sheet date. This loan was interest free and repayable on demand.