Italia Conti Arts Centre Limited,Ltd - AccountsLtd - Accounts

Italia Conti Arts Centre Limited,Ltd - AccountsLtd - Accounts

ITALIA CONTI ARTS CENTRE LIMITED - Company Information

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2018-01-01 04335785 2018-12-31 04335785 2018-01-01 2018-12-31 04335785 2017-12-31 04335785 2017-01-01 2017-12-31 04335785 uk-core:WithinOneYear 2017-12-31 04335785 uk-core:WithinOneYear 2018-12-31 04335785 uk-core:ShareCapital 2018-12-31 04335785 uk-core:ShareCapital 2017-12-31 04335785 uk-core:RetainedEarningsAccumulatedLosses 2018-12-31 04335785 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 04335785 uk-bus:Director1 2018-01-01 2018-12-31 04335785 uk-core:LeaseholdImprovements uk-core:LeasedAssetsHeldAsLessee 2018-01-01 2018-12-31 04335785 uk-core:PlantMachinery 2018-01-01 2018-12-31 04335785 uk-core:FurnitureFittings 2018-01-01 2018-12-31 04335785 uk-core:FurnitureFittings 2017-12-31 04335785 uk-core:PlantMachinery 2017-12-31 04335785 uk-core:LeaseholdImprovements uk-core:LeasedAssetsHeldAsLessee 2017-12-31 04335785 uk-core:LeaseholdImprovements uk-core:LeasedAssetsHeldAsLessee 2018-12-31 04335785 uk-core:PlantMachinery 2018-12-31 04335785 uk-core:FurnitureFittings 2018-12-31 04335785 uk-core:BetweenTwoFiveYears 2017-12-31 04335785 uk-core:BetweenTwoFiveYears 2018-12-31 iso4217:GBP xbrli:pure 04335785 uk-bus:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 04335785 uk-bus:FRS102 2018-01-01 2018-12-31 04335785 uk-bus:FullAccounts 2018-01-01 2018-12-31 04335785 uk-bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31
Italia Conti Arts Centre Limited
Registered Number:04335785
For the year ended 31 December 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2018
Italia Conti Arts Centre Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 December 2018
Italia Conti Arts Centre Limited
Statement of Financial Position
Registered Number :
04335785
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
49,056
5,559
2
49,056
5,559
Current assets
Trade and other receivables
93,273
209,977
3
32,650
Cash and cash equivalents
92,892
302,869
125,923
Trade and other payables: amounts falling due within one
year
(64,135)
(233,576)
4
61,788
69,293
Net current assets
Total assets less current liabilities
118,349
67,347
(9,690)
-
Provisions for liabilities
108,659
Net assets
67,347
Capital and reserves
Called up share capital
100
100
Retained earnings
108,559
67,247
108,659
67,347
Shareholders' funds
For the year ended 31 December 2018 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 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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Samantha Newton Director
These financial statements were approved and authorised for issue by the Board on 25 October 2019 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2018
Italia Conti Arts Centre Limited
Notes to the Financial Statements
Statutory Information
Italia Conti Arts Centre Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04335785.
Registered address:
221 Epsom Road
Merrow
Guildford
Surrey
GU1 2RE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, 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:
Leasehold improvements:Leased
term of lease: Straight line
Plant and Machinery
20% Straight line
20% Straight line
Furniture and Fittings
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.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 December 2018
Italia Conti Arts Centre Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
Leasehold
improvements
:Leased
£
£
£
£
Cost or
valuation
At 01 January 2018
109,859
-
59,716
50,143
57,174
57,174
-
-
Additions
At 31 December 2018
50,143
59,716
57,174
167,033
Provision for depreciation and impairment
At 01 January 2018
104,300
-
57,383
46,917
Charge for year
13,677
11,435
1,166
1,076
At 31 December 2018
117,977
11,435
58,549
47,993
At 31 December 2018
Net book value
2,150
1,167
45,739
49,056
At 31 December 2017
3,226
2,333
-
5,559
3. Trade and other receivables
2017
2018
£
£
Trade debtors
178,382
93,273
Other debtors
31,595
-
93,273
209,977
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
24,929
-
Taxation and social security
23,662
-
Other creditors
184,985
64,135
233,576
64,135
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6
For the year ended 31 December 2018
Italia Conti Arts Centre Limited
Notes to the Financial Statements Continued
5. Guarantees and other financial commitments
Lease commitments
At 31 December 2018 the company had annual commitments under non-cancellable operating leases as set out
below:
2017
£
2018
£
Operating leases which expire:
22,080
-
Within 1 year
147,160
103,000
Within 2 to 5 years
125,080
147,160
The total financial commitment until the expiry of the rental leases in January 2022 and September 2020 are
£347,640 (2017 £472,720).
6. Average number of persons employed
During the year the average number of employees was 12 (2017 : 12)
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