Accounts filed on 31-01-2019

Accounts filed on 31-01-2019

FESTIVAL ARTS (UK) LIMITED - Company Information

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Registered number: 05503080
Festival Arts (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2019
Prepared By:
Paul Clixby Chartered Accountant
27 Hornyold Road
Malvern
WR14 1QQ
Festival Arts (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2019
DIRECTORS
J Baines
C J Beckett
H R Clixby
C Baines
SECRETARY
C Baines
REGISTERED OFFICE
24 Featherstone Road
Kings Heath
Birmingham
B14 6BB
COMPANY DETAILS
Private company limited by guarantee registered in EW - England and Wales, registered number 05503080
ACCOUNTANTS
Paul Clixby Chartered Accountant
27 Hornyold Road
Malvern
WR14 1QQ
Festival Arts (UK) Limited
ACCOUNTS
FOR THEYEARENDED31 JANUARY 2019
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Festival Arts (UK) Limited
BALANCE SHEET AT 31 January 2019
20192018
Notes££
FIXED ASSETS
Tangible assets32,8764,557
CURRENT ASSETS
Stock3,9253,925
Debtors41,494285
Cash at bank and in hand25,21620,990
30,63525,200
CREDITORS: Amounts falling due within one year204-
NET CURRENT ASSETS30,43125,200
TOTAL ASSETS LESS CURRENT LIABILITIES33,30729,757
CAPITAL AND RESERVES
Profit and loss account33,30729,757
SHAREHOLDERS' FUNDS33,30729,757
For the year ending 31 January 2019 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 1 June 2019 and signed on their behalf by
.............................
H R Clixby
Director
Festival Arts (UK) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2019
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Equipment acquired from the Festival Arts society on incorporation of the company was valued by the directors (who were also the officers of the society) at estimated market value. Subsequent additions are included at cost. Depreciation of all equipment is provided at annual rates in order to write off each asset over its estimated useful life, estimated at either 5 or 10 years.
Equipment%
1c. Stocks
Stock consists of costumes and props, partly acquired from Festival Arts on incorporation, and has been valued at its acquisition price.
1d. Goodwill
On incorporation the company acquired the assets of Festival Arts, an unincorporated society which previously carried on the activities now undertaken by the company. As no consideration was paid, the total value acquired represented negative goodwill. The amount relating to equipment was released to the income and expenditure account over the same periods in which the equipment was depreciated; the remaining amount was fully released to the profit and loss account in the company's first accounting period.
1e. Turnover
Turnover represents all income from drama and related activities.
Festival Arts (UK) Limited
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 February 2018(35,043)(35,043)
At 31 January 2019(35,043)(35,043)
Depreciation
At 1 February 2018(35,043)(35,043)
At 31 January 2019(35,043)(35,043)
Net Book Amounts
At 31 January 2019--
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 1 February 201831,82931,829
At 31 January 201931,82931,829
Depreciation
At 1 February 201827,27227,272
For the year1,6811,681
At 31 January 201928,95328,953
Net Book Amounts
At 31 January 20192,8762,876
At 31 January 20184,5574,557
4. DEBTORS 20192018
££
Amounts falling due within one year:
Other debtors1,494285
1,494285
Festival Arts (UK) Limited
5. GUARANTEE
The company has no share capital and is limited by guarantee. The five members of the company have agreed to contribute £1 each to the assets of the company in the event of it being wound up.