Fanfair Events Limited - Period Ending 2020-06-30

Registration number: 10251535

Fanfair Events Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2020

The Moffatts Partnership LLP
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

 

Fanfair Events Limited

(Registration number: 10251535)
Balance Sheet as at 30 June 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	203	203
Current assets
Cash at bank and in hand		850	850
Creditors: Amounts falling due within one year	6	(3,094)	(3,094)
Net current liabilities		(2,244)	(2,244)
Net liabilities		(2,041)	(2,041)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(2,141)	(2,141)
Shareholders' deficit		(2,041)	(2,041)

For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 23 June 2020 and signed on its behalf by:
 

.........................................

Mr Fabrizio Velardi
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Fanfair Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

These financial statements were authorised for issue by the Board on 23 June 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has considered the potential implications of the Coronavirus pandemic. Whilst the eventual financial impact of the pandemic on the company remains uncertain the director has a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

The company therefore continues to adopt the going concern basis on preparing its financial statements.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	25% Reducing Balance Basis

Page 2

Fanfair Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2019 - 1).

Page 3

Fanfair Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2019	485	485
At 30 June 2020	485	485
Depreciation
At 1 July 2019	282	282
At 30 June 2020	282	282
Carrying amount
At 30 June 2020	203	203
At 30 June 2019	203	203

5	Cash and cash equivalents

	2020 £	2019 £
Cash at bank	850	850

6

Creditors

	Note	2020 £	2019 £
Due within one year
Amounts due to related parties		2,374	2,374
Accruals		720	720
		3,094	3,094

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Page 4