Lincoln Academy of Dramatic Arts Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06768819 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Lincoln Academy of Dramatic Arts Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss J E Birch

REGISTERED OFFICE:

Sparkhouse Studios

Rope Walk

Lincoln

LN6 7DQ

REGISTERED NUMBER:

06768819 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

1,039

1,386

CURRENT ASSETS

Debtors

5

34,648

15,571

Prepayments and accrued income

-

940

Cash at bank

6,953

8,681

41,601

25,192

CREDITORS

Amounts falling due within one year

6

34,754

25,511

NET CURRENT ASSETS/(LIABILITIES)

6,847

(319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,886

1,067

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

7,786

967

SHAREHOLDERS' FUNDS

7,886

1,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15 May 2019 and were signed by:

Miss J E Birch - Director

1.	STATUTORY INFORMATION

Lincoln Academy of Dramatic Arts Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

6,057

DEPRECIATION

At 1 January 2018

4,671

Charge for year

347

At 31 December 2018

5,018

NET BOOK VALUE

At 31 December 2018

1,039

At 31 December 2017

1,386

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

33,708

14,063

Other debtors

940

1,508

34,648

15,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

8,729

3,060

Trade creditors

13,811

12,110

Taxation and social security

6,610

6,826

Other creditors

5,604

3,515

34,754

25,511

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by Miss J E Birch who owns 75% of the shares.