FIERYLIGHT_2010_LTD - Accounts
FIERYLIGHT_2010_LTD - Accounts
Fierylight 2010 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is National House, 60-66 Wardour Street, London, W1F 0TA.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Fiery Angel Limited
E G C Snape is one of the directors and shareholders of Fiery Angel Limited.
During the year, the company incurred £440,715 (2017: £381,555) of recharges and management fees from Fiery Angel Limited.
As at the balance sheet date, the company owed Fiery Angel Limited £168,947 (2017: £488,432)
Fiery Light PPS Limited
M Ronan is the director and holds significant influence over Fiery Light PPS Limited
During the year, the company incurred £13,729 (2017: £24,700) of recharges from Fiery Light PPS Limited, and invoiced in return, £1,856 (2017: £50,000) of income.
As at the balance sheet date, Fiery light PPS Limited owed the company £2,227 (2017: £Nil).
Fiery Light TT5 Limited
E G C Snape is the director and holds significant influence over Fiery Light TT5 Limited.
During the year, the company invoiced £112 (2017: £100,000) of income, and incurred £Nil (2017: £20,000) of recharges and management fees from Fiery Light TT5 Limited.
As at the balance sheet date, the company owed Fiery Light TT5 Limited £Nil (2017: £Nil).
Limelight Productions Limited
M Ronan is the director of and owner of Limelight Productions Limited.
During the year, the company incurred £395,999 (2017: £368,121) of recharges and management fees from Limelight Productions Limited.
As at the balance sheet date, the company owed Limelight Productions Limited £54,519 (2017: £111,950).
Limelight Entertainments (Productions) Limited
M Ronan is one of the directors and shareholders of Limelight Entertainments (Productions) Limited.
During the year, the company incurred £3,598 (2017: £1,838) of recharges and management fees from Limelight Entertainments (Productions) Limited.
As at the balance sheet date, the company owed Limelight Entertainments (Productions) Limited £112,000 (2017: £376,482).
Fiery Light Kingdom Limited
E G C Snape is the director and shareholder of Fiery Light Kingdom Limited.
During the year, the company incurred £4,000 (2017: £375.26) of recharges and management fees from Fiery Light Kingdom Limited, and invoiced £Nil (2017: £400) of income.
As at the balance sheet date, the company owed Fiery Light Kingdom Limited £Nil (2017: £Nil)
The immediate parent company is shared equally between Fiery Angel Limited and Limelight Productions Limited, both companies incorporated and registered in the United Kingdom, by the virtue of share ownership in the company.
There is no single ultimate controlling party.