Company Registration No. 3006904 (England and Wales)
Headway Arts
Unaudited accounts
for the year ended 31 March 2019
Headway Arts
Company Information
for the year ended 31 March 2019
Directors
R Graham
C Seccomble
P D James
L Neslund
K Wilcox
Company Number
3006904 (England and Wales)
Registered Office
HEADWAY ARTSPACE THE OLD CHURCH
WATERLOO ROAD
BLYTH
NORTHUMBERLAND
NE24 1BY
Headway Arts
Statement of financial position
as at 31 March 2019
Tangible assets
36,235
42,284
Cash at bank and in hand
2,978
24,029
Creditors: amounts falling due within one year
(23,433)
(20,509)
Net current assets
37,816
47,832
Profit and loss account
74,051
90,116
Members' funds
74,051
90,116
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 July 2019.
R Graham
Director
Company Registration No. 3006904
Headway Arts
Notes to the Accounts
for the year ended 31 March 2019
Headway Arts is a private company, limited by guarantee, registered in England and Wales, registration number 3006904. The registered office is HEADWAY ARTSPACE THE OLD CHURCH, WATERLOO ROAD, BLYTH, NORTHUMBERLAND, NE24 1BY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the period of the lease
Fixtures & fittings
Over 3 years
Computer equipment
Over 3 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Headway Arts
Notes to the Accounts
for the year ended 31 March 2019
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
57,120
36,828
4,060
98,008
At 31 March 2019
57,120
36,828
5,309
99,257
At 1 April 2018
16,511
36,591
2,622
55,724
Charge for the year
5,801
79
1,418
7,298
At 31 March 2019
22,312
36,670
4,040
63,022
At 31 March 2019
34,808
158
1,269
36,235
At 31 March 2018
40,609
237
1,438
42,284
Accrued income and prepayments
49,641
34,522
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Creditors: amounts falling due within one year
2019
2018
Taxes and social security
13,213
6,980
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Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8
Average number of employees
During the year the average number of employees was 5 (2018: 5).
