Pharaon Events Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06471162

Unaudited Financial Statements for the Year Ended 31 January 2020

for

PHARAON EVENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Pharaon

REGISTERED OFFICE:

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

BUSINESS ADDRESS:

Unit B

South Stables

Worton Park

Cassington

Oxfordshire

OX29 4SU

REGISTERED NUMBER:

06471162

ACCOUNTANTS:

Camerons Accountancy Consultants Limited

Chartered Accountants

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

FIXED ASSETS

Tangible assets

4

2,629

3,506

Investment property

5

1,046,713

1,046,713

1,049,342

1,050,219

CURRENT ASSETS

Debtors

6

2,371

1,540

Cash at bank

4,398

300

6,769

1,840

CREDITORS

Amounts falling due within one year

7

347,954

357,700

NET CURRENT LIABILITIES

(341,185

)

(355,860

)

TOTAL ASSETS LESS CURRENT LIABILITIES

708,157

694,359

CREDITORS

Amounts falling due after more than one year

8

675,050

675,050

NET ASSETS

33,107

19,309

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

9

(9,439

)

(9,439

)

Retained earnings

42,545

28,747

SHAREHOLDERS' FUNDS

33,107

19,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 30 October 2020 and were signed by:

M Pharaon - Director

1.	STATUTORY INFORMATION

Pharaon Events Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number and registered office 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 as modified by the revaluation of certain assets.

These accounts have been prepared on the going concern basis, on the understanding that the director will

continue to financially support the company for the foreseeable future.

Turnover

Rent as shown under turnover in the profit and loss account represents rents and service charges receivable

during the year.

Sales are measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in the fair value reserve.

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 (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2019

and 31 January 2020

18,402

4,172

4,558

27,132

DEPRECIATION

At 1 February 2019

16,403

2,665

4,558

23,626

Charge for year

500

377

-

877

At 31 January 2020

16,903

3,042

4,558

24,503

NET BOOK VALUE

At 31 January 2020

1,499

1,130

-

2,629

At 31 January 2019

1,999

1,507

-

3,506

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

and 31 January 2020

1,046,713

NET BOOK VALUE

At 31 January 2020

1,046,713

At 31 January 2019

1,046,713

Fair value at 31 January 2020 is represented by:

£

Valuation in 2019

(9,439

)

Cost

1,056,152

1,046,713

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,050

-

Other debtors

1,321

1,540

2,371

1,540

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,222

-

Taxation and social security

574

4,232

Other creditors

346,158

353,468

347,954

357,700

The above creditors figure includes £344,611 due to Mr M Pharaon, director of Pharaon Events Ltd (£351,240

in 2019). This loan is interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The above creditors figure includes £675,050 due to Mr M Pharaon, director of Pharaon Events Ltd ( £675,050

in 2019). This loan is interest free and repayable in more than one year.

9.

RESERVES

Fair

value

reserve

£

At 1 February 2019

and 31 January 2020

(9,439

)

10.	ULTIMATE CONTROLLING PARTY