Quercus Entertainment Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07358840 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Quercus Entertainment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

D V Persaud

SECRETARY:

Miss B Giulieri

REGISTERED OFFICE:

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

BUSINESS ADDRESS:

42 Colville Mews

London

W11 2DA

REGISTERED NUMBER:

07358840 (England and Wales)

ACCOUNTANTS:

Deeks Evans

Chartered Accountants

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

459,133

464,178

459,133

464,178

CURRENT ASSETS

Debtors

6

2,335

2,846

Cash at bank

5,449

257

7,784

3,103

CREDITORS

Amounts falling due within one year

7

63,848

65,559

NET CURRENT LIABILITIES

(56,064

)

(62,456

)

TOTAL ASSETS LESS CURRENT LIABILITIES

403,069

401,722

CAPITAL & RESERVES

Called up share capital

8

204,024

241,024

Retained earnings

199,045

160,698

SHAREHOLDERS' FUNDS

403,069

401,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 May 2020 and were signed by:

D V Persaud - Director

1.	STATUTORY INFORMATION

Quercus Entertainment Limited 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 rents receivable for the period, excluding VAT.

Goodwill

Goodwill relating to the acquisition of a business in 2011 has been fully written off.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

1% on cost

Improvements to property

-

1% on cost

Fixtures & equipment

-

15% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 August 2019

1

AMORTISATION

At 1 September 2018

and 31 August 2019

1

NET BOOK VALUE

At 31 August 2019

-

At 31 August 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Fixtures

property

property

& equipment

Totals

£

£

£

£

COST

At 1 September 2018

and 31 August 2019

491,952

12,585

135,130

639,667

DEPRECIATION

At 1 September 2018

39,351

1,008

135,130

175,489

Charge for year

4,919

126

-

5,045

At 31 August 2019

44,270

1,134

135,130

180,534

NET BOOK VALUE

At 31 August 2019

447,682

11,451

-

459,133

At 31 August 2018

452,601

11,577

-

464,178

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

6

6

Deferred tax asset

2,329

2,840

2,335

2,846

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

9,667

9,578

Other creditors

47,685

50,685

Directors' current accounts

100

100

Accruals & deferred income

6,396

5,196

63,848

65,559

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

200

Ordinary

£1

200

200

203,824

Redeemable 0% cumulative

non-voting preference

£1

203,824

240,824

204,024

241,024

The redeemable 0% cumulative non-voting preference shares can be redeemed the option of the company or the

holder at any time more than six months after the date of issue.

The redemption price of the shares will be equal to the nominal value of the shares together with a sum equal to

any preference dividend which has accrued but is unpaid whether or not such preference dividend has been

declared or earned.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Quercus Entertainment Limited for the year ended 31 August 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Quercus Entertainment Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quercus Entertainment Limited and state those matters that we have agreed to state to the director of Quercus Entertainment Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quercus Entertainment Limited and its director for our work or for this report.

It is your duty to ensure that Quercus Entertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quercus Entertainment Limited. You consider that Quercus Entertainment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quercus Entertainment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Deeks Evans

Chartered Accountants

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

27 May 2020