ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

FOS LIMITED - Company Information

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Caseware UK (AP4) 2019.0.131 2019.0.131 2019-09-302019-09-302020-05-14true2018-10-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02965328 2018-10-01 2019-09-30 02965328 2019-09-30 02965328 2018-09-30 02965328 c:Director1 2018-10-01 2019-09-30 02965328 d:CurrentFinancialInstruments 2019-09-30 02965328 d:CurrentFinancialInstruments 2018-09-30 02965328 d:CurrentFinancialInstruments d:WithinOneYear 2019-09-30 02965328 d:CurrentFinancialInstruments d:WithinOneYear 2018-09-30 02965328 d:ShareCapital 2019-09-30 02965328 d:ShareCapital 2018-09-30 02965328 d:RetainedEarningsAccumulatedLosses 2019-09-30 02965328 d:RetainedEarningsAccumulatedLosses 2018-09-30 02965328 c:FRS102 2018-10-01 2019-09-30 02965328 c:AuditExempt-NoAccountantsReport 2018-10-01 2019-09-30 02965328 c:FullAccounts 2018-10-01 2019-09-30 02965328 c:PrivateLimitedCompanyLtd 2018-10-01 2019-09-30 iso4217:GBP

Registered number: 02965328









FOS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2019
 
FOS LIMITED
REGISTERED NUMBER: 02965328

BALANCE SHEET
AS AT 30 SEPTEMBER 2019

2019
2018
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,165
4,315

Current asset investments
 5 
184,690
148,500

Cash at bank and in hand
 6 
35,935
116,317

  
221,790
269,132

Creditors: amounts falling due within one year
 7 
(81,018)
(46,000)

Net current assets
  
 
 
140,772
 
 
223,132

Total assets less current liabilities
  
140,772
223,132

  

Net assets
  
140,772
223,132


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
140,770
223,130

  
140,772
223,132


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 May 2020.


J E Frost
Director
Page 1
 
FOS LIMITED
REGISTERED NUMBER: 02965328
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2019


The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
FOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

1.


General information

FOS Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 3 Poultney Close, Shenley, Radlett, England, WD7 9JH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP and is rounded to the nearest pound.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate.

 
2.3

Revenue

Revenue comprises the company’s share of profit distributions received from investments in theatrical productions and are recognised in the period the distribution is confirmed by the producer of the theatrical production. 

 
2.4

Taxation

Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Investments in productions

Investments in productions are initially recognised at cost and are subsequently recognised at the recoupable amount at the reporting date being the amount invested less amounts recovered, plus anticipated profits and after making provision for losses where recovery of outstanding investments in full is not anticipated. Net surplus' on investments in productions are recognised as income within the Statement of income and retained earnings.  Net shortfalls on investments in productions are recognised as expenditure within the Statement of income and retained earnings.

Page 3
 
FOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

2.Accounting policies (continued)

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).


4.


Debtors

2019
2018
£
£


Other debtors
1,165
4,315

1,165
4,315



5.


Current asset investments

2019
2018
£
£

Investment in productions
184,690
148,500

184,690
148,500


Page 4
 
FOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

6.


Cash and cash equivalents

2019
2018
£
£

Cash at bank and in hand
35,935
116,317

35,935
116,317



7.


Creditors: Amounts falling due within one year

2019
2018
£
£

Other creditors
78,018
43,000

Accruals
3,000
3,000

81,018
46,000



8.


Controlling party

Throughout the period the company was under the control of the director, J E Frost.

 
Page 5