General Information
Funtasia Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 05656739, registration address Unit 4 Bardel Court, Edward Close, Yeovil, BA22 8RU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Intangible assets other than goodwill
Intangible assets are stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
4% Reducing Balance |
| Plant and Machinery |
25% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
25% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 7 (2024 : 8).
|
| 3. |
Intangible fixed assets
| Cost |
Other |
|
Total |
| |
£ |
|
£ |
| At 01 January 2025 |
2,324 |
|
2,324 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2025 |
2,324 |
|
2,324 |
| Amortisation |
| At 01 January 2025 |
2,170 |
|
2,170 |
| Charge for year |
154 |
|
154 |
| On disposals |
- |
|
- |
| At 31 December 2025 |
2,324 |
|
2,324 |
| Net book values |
| At 31 December 2025 |
- |
|
- |
| At 31 December 2024 |
154 |
|
154 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 January 2025 |
29,885 |
|
313,300 |
|
9,625 |
|
7,801 |
|
360,611 |
| Additions |
- |
|
- |
|
9,200 |
|
- |
|
9,200 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 December 2025 |
29,885 |
|
313,300 |
|
18,825 |
|
7,801 |
|
369,811 |
| Depreciation |
| At 01 January 2025 |
15,038 |
|
255,690 |
|
5,565 |
|
4,433 |
|
280,726 |
| Charge for year |
593 |
|
8,847 |
|
2,165 |
|
842 |
|
12,447 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 December 2025 |
15,631 |
|
264,537 |
|
7,730 |
|
5,275 |
|
293,173 |
| Net book values |
| Closing balance as at 31 December 2025 |
14,254 |
|
48,763 |
|
11,095 |
|
2,526 |
|
76,638 |
| Opening balance as at 01 January 2025 |
14,847 |
|
57,610 |
|
4,060 |
|
3,368 |
|
79,885 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
29,559 |
|
22,094 |
|
29,559 |
|
22,094 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (Secured) |
5,556 |
|
5,555 |
| Corporation Tax |
5,726 |
|
0 |
| PAYE & Social Security |
553 |
|
350 |
| Accrued Expenses |
1,851 |
|
1,800 |
| Other Creditors |
980 |
|
36 |
| Director: Mr R S Lee |
42,500 |
|
38,000 |
| Director: Mrs L M Lee |
42,500 |
|
38,000 |
| VAT |
9,216 |
|
9,910 |
|
108,882 |
|
93,651 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (secured) |
19,446 |
|
25,000 |
|
19,446 |
|
25,000 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
11,213 |
|
11,453 |
|
11,213 |
|
11,453 |
|
| 9. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
2
Ordinary shares of £1.00 each |
2 |
|
2 |
|
2 |
|
2 |
|
| 10. |
Guarantees
Bank Loans & Overdrafts The Bank Loans & Overdrafts falling due within one year and after one year are secured by the companies assets and a partial guarantee has been provided by the Secretary of
State as part of the Business Interruption Payment relief provided to companies during the pandemic.
The Bank Loans & Overdrafts which fall due after five years are as follows: | Maximum Liability Incurred | | Amount Paid |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Bank Loans & Overdrafts | 0 | | 2,778 | | 5,556 | | 5,556 | | 0 | | 2778 | | 5556 | | 5556 |
|
2
|