Firescape Global Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09786885 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Firescape Global Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G C Cornelius

D Subba

D P C Berger

REGISTERED OFFICE:

1 Sopwith Crescent

Wickford

Essex

SS11 8YU

REGISTERED NUMBER:

09786885 (England and Wales)

ACCOUNTANTS:

Sygma Chartered Accountants

1 Sopwith Crescent

Wickford

Essex

SS11 8YU

FIXED ASSETS

Intangible assets

4

194,000

224,000

Tangible assets

5

4,117

4,844

198,117

228,844

CURRENT ASSETS

Stocks

100,000

134,000

Debtors

6

85,677

-

Cash at bank

11,591

389

197,268

134,389

CREDITORS

Amounts falling due within one year

7

2,813,702

2,143,366

NET CURRENT LIABILITIES

(2,616,434

)

(2,008,977

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,418,317

)

(1,780,133

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,418,417

)

(1,780,233

)

SHAREHOLDERS' FUNDS

(2,418,317

)

(1,780,133

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

G C Cornelius - Director

1.	STATUTORY INFORMATION

Firescape Global 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

Intellectual property and development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2018

and 30 September 2019

300,000

AMORTISATION

At 1 October 2018

76,000

Charge for year

30,000

At 30 September 2019

106,000

NET BOOK VALUE

At 30 September 2019

194,000

At 30 September 2018

224,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

and 30 September 2019

6,704

DEPRECIATION

At 1 October 2018

1,860

Charge for year

727

At 30 September 2019

2,587

NET BOOK VALUE

At 30 September 2019

4,117

At 30 September 2018

4,844

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Other debtors

85,677

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

156,935

398,446

Amounts owed to group undertakings

2,648,037

1,744,920

Taxation and social security

3,105

-

Other creditors

5,625

-

2,813,702

2,143,366

8.	RELATED PARTY DISCLOSURES

The company has received a loan from its ultimate parent company Firescape Holdings

Limited. The balance outstanding on the loan at 30th September 2019 was £2,648,037

(2018 - £1,744,920). The loan is repayable upon demand and bears no interest.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Firescape Holdings Limited.

Firescape Global Limited is a wholly owned subsidiary of Firescape Holdings Limited. The

address of the registered office of Firescape Holdings Limited is 1 Sopwith Crescent,

Wickford, Essex SS11 8YU.