Freemantle Design Company Ltd 30/04/2019 iXBRL

Freemantle Design Company Ltd 30/04/2019 iXBRL

FREEMANTLE GROUP LIMITED - Company Information

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30/04/2019 2019-04-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-05-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 10743157 2018-05-01 2019-04-30 10743157 2019-04-30 10743157 2018-04-30 10743157 2017-05-01 2018-04-30 10743157 2018-04-30 10743157 core:FurnitureFittingsToolsEquipment 2018-05-01 2019-04-30 10743157 bus:Director1 2018-05-01 2019-04-30 10743157 core:FurnitureFittingsToolsEquipment 2018-04-30 10743157 core:FurnitureFittingsToolsEquipment 2019-04-30 10743157 core:WithinOneYear 2019-04-30 10743157 core:WithinOneYear 2018-04-30 10743157 core:ShareCapital 2019-04-30 10743157 core:ShareCapital 2018-04-30 10743157 core:RetainedEarningsAccumulatedLosses 2019-04-30 10743157 core:RetainedEarningsAccumulatedLosses 2018-04-30 10743157 core:CostValuation core:Non-currentFinancialInstruments 2018-04-30 10743157 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2019-04-30 10743157 core:Non-currentFinancialInstruments 2018-04-30 10743157 core:FurnitureFittingsToolsEquipment 2018-04-30 10743157 bus:Director1 2018-04-30 10743157 bus:Director1 2019-04-30 10743157 bus:Director1 2018-04-30 10743157 bus:Director1 2017-05-01 2018-04-30 10743157 bus:SmallEntities 2018-05-01 2019-04-30 10743157 bus:AuditExempt-NoAccountantsReport 2018-05-01 2019-04-30 10743157 bus:FullAccounts 2018-05-01 2019-04-30 10743157 bus:SmallCompaniesRegimeForAccounts 2018-05-01 2019-04-30 10743157 bus:PrivateLimitedCompanyLtd 2018-05-01 2019-04-30
Company registration number: 10743157
Freemantle Design Company Ltd
Unaudited filleted financial statements
30 April 2019
Freemantle Design Company Ltd
Contents
Statement of financial position
Notes to the financial statements
Freemantle Design Company Ltd
Statement of financial position
30 April 2019
30/04/19 30/04/18
Note £ £ £ £
Fixed assets
Tangible assets 5 643 1,170
Investments 6 - 20,000
_______ _______
643 21,170
Current assets
Debtors 7 44,055 -
Cash at bank and in hand 74,445 159,678
_______ _______
118,500 159,678
Creditors: amounts falling due
within one year 8 ( 2,328) ( 40,891)
_______ _______
Net current assets 116,172 118,787
_______ _______
Total assets less current liabilities 116,815 139,957
_______ _______
Net assets 116,815 139,957
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 116,814 139,956
_______ _______
Shareholders funds 116,815 139,957
_______ _______
For the period ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 January 2020 , and are signed on behalf of the board by:
P L Freeman
Director
Company registration number: 10743157
Freemantle Design Company Ltd
Notes to the financial statements
Period ended 30 April 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Over three years - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the period amounted to Nil (2018: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At and 30 April 2019 1,583 1,583
_______ _______
Depreciation
At 413 413
Charge for the year 527 527
_______ _______
At 30 April 2019 940 940
_______ _______
Carrying amount
At 30 April 2019 643 643
_______ _______
At 30 April 2018 1,170 1,170
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 20,000 20,000
Other movements ( 20,000) ( 20,000)
_______ _______
At 30 April 2019 - -
_______ _______
Impairment
At and 30 April 2019 - -
_______ _______
Carrying amount
At 30 April 2019 - -
_______ _______
At 30 April 2018 20,000 20,000
_______ _______
7. Debtors
30/04/19 30/04/18
£ £
Other debtors 44,055 -
_______ _______
8. Creditors: amounts falling due within one year
30/04/19 30/04/18
£ £
Corporation tax 794 34,901
Social security and other taxes - 4,670
Other creditors 1,534 1,320
_______ _______
2,328 40,891
_______ _______
9. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Year ended 30/04/19
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
P L Freeman ( 520) ( 58,514) 54,500 ( 4,534)
_______ _______ _______ _______
Period ended 30/04/18
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
P L Freeman - ( 520) - ( 520)
_______ _______ _______ _______