First Resort Events Limited - Accounts to registrar (filleted) - small 18.2

First Resort Events Limited - Accounts to registrar (filleted) - small 18.2

FIRST RESORT EVENTS LIMITED - Company Information

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REGISTERED NUMBER: 09293424 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2019

for

First Resort Events Limited
First Resort Events Limited (Registered number: 09293424)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


First Resort Events Limited

Company Information
for the Year Ended 31 December 2019







Directors: Miss Sadie Isabella Shard
Mr William Pringle





Registered office: The Crescent Hotel
2 Belvoir Terrace
Scarborough
North Yorkshire
YO11 2PP





Registered number: 09293424 (England and Wales)





Accountants: Rayner & Co
Chartered Certified Accountants
6 Arundel Place
Scarborough
North Yorkshire
YO11 1TX
Page 1
First Resort Events Limited (Registered number: 09293424)

Balance Sheet
31 December 2019

2019 2018
Notes £ £ £ £
Fixed assets
Tangible assets 4 76,872 74,909

Current assets
Stocks 24,510 26,190
Debtors 5 14,506 20,977
Cash at bank and in hand 41,219 16,698
80,235 63,865
Creditors
Amounts falling due within one year 6 116,571 142,091
Net current liabilities (36,336 ) (78,226 )
Total assets less current liabilities 40,536 (3,317 )

Provisions for liabilities 6,389 -
Net assets/(liabilities) 34,147 (3,317 )

Capital and reserves
Called up share capital 100 100
Retained earnings 34,047 (3,417 )
Shareholders' funds 34,147 (3,317 )

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2020 and
were signed on its behalf by:





Mr William Pringle - Director


The notes form part of these financial statements

Page 2
First Resort Events Limited (Registered number: 09293424)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. Statutory information

First Resort Events 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The level of rounding used in the financial statements is to the nearest £1.

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
The turnover shown in the profit and loss account represents the total invoice value, excluding value
added tax, of sales made during the year. Sales are recognised in the profit and loss account in the
period in which the sales relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss
account, 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 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.

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.

Page 3 continued...
First Resort Events Limited (Registered number: 09293424)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

3. Employees and directors

The average number of employees during the year was 19 (2018 - 25 ) .

4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Cost
At 1 January 2019 98,631 4,900 886 104,417
Additions 12,968 - 929 13,897
At 31 December 2019 111,599 4,900 1,815 118,314
Depreciation
At 1 January 2019 25,294 3,350 864 29,508
Charge for year 11,473 388 73 11,934
At 31 December 2019 36,767 3,738 937 41,442
Net book value
At 31 December 2019 74,832 1,162 878 76,872
At 31 December 2018 73,337 1,550 22 74,909

5. Debtors: amounts falling due within one year
2019 2018
£ £
Trade debtors 3,606 7,223
Other debtors 10,900 13,754
14,506 20,977

6. Creditors: amounts falling due within one year
2019 2018
£ £
Payments on account 4,924 6,138
Trade creditors 21,729 39,814
Amounts owed to group undertakings 25,371 26,786
Taxation and social security 19,646 19,696
Other creditors 44,901 49,657
116,571 142,091

7. Contingent liabilities

The company has guaranteed the bank borrowings of its parent company The Bloomsbury Property
Company (Scarborough) Limited by a guarantee of £795,000 and a debenture. At 31 December 2019
the bank borrowings of that company amounted to £669,527.

8. Related party transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 to not disclose
transactions entered into with its parent company.

Page 4 continued...
First Resort Events Limited (Registered number: 09293424)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

9. Controlling party

The company is a wholly owned subsidiary of The Bloomsbury Property Company (Scarborough)
Limited, whose company reference is 09268832 and was incorporated in England and Wales.

The Bloomsbury Property Company (Scarborough) Limited is under the control of the director Miss Sadie Isabella Shard and as such she is deemed the ultimate controlling party.

Page 5