Throwing Shadows Limited Company accounts

THROWING SHADOWS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06746901

Throwing Shadows Limited

Unaudited Abridged Financial Statements

31 March 2020

Throwing Shadows Limited

Abridged Financial Statements

Year ended 31 March 2020

Contents	Page

Officers and professional advisers	1

Director's report	2

Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements	3

Statement of income and retained earnings	4

Abridged statement of financial position	5

Notes to the abridged financial statements	7

Throwing Shadows Limited

Officers and Professional Advisers

Director	Mr A Mackay

Company secretary	Sable Accounting Ltd

Registered office	C/- Sable Accounting
	13th Floor
	One Croydon
	12-16 Addiscombe Road
	Croydon
	CR0 0XT

Accountants	Sable Accounting Limited
	Chartered accountants
	13th Floor, One Croydon
	12-16 Addiscombe Road
	Croydon
	UK
	CR0 0XT

Throwing Shadows Limited

Director's Report

Year ended 31 March 2020

The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 March 2020 .

Director

The director who served the company during the year was as follows:

Mr A Mackay

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 31 October 2020 and signed on behalf of the board by:

Mr A Mackay
Director

Throwing Shadows Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Throwing Shadows Limited

Year ended 31 March 2020

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 March 2020, which comprise the statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Sable Accounting Limited Chartered accountants

13th Floor, One Croydon 12-16 Addiscombe Road Croydon UK CR0 0XT

Throwing Shadows Limited

Statement of Income and Retained Earnings

Year ended 31 March 2020

	2020	2019
Note	£	£

Administrative expenses	8,084	10,294
	-------	--------
Operating loss	( 8,084)	( 10,294)

		-------	--------
Loss before taxation	5	( 8,084)	( 10,294)

Tax on loss	–	–
	-------	--------
Loss for the financial year and total comprehensive income	( 8,084)	( 10,294)
	-------	--------

Retained earnings at the start of the year	59,112	69,406
	--------	--------
Retained earnings at the end of the year	51,028	59,112
	--------	--------

All the activities of the company are from continuing operations.

Throwing Shadows Limited

Abridged Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	6		224	629

Current assets

Debtors	180	60
Cash at bank and in hand	88,709	96,571
	--------	--------
	88,889	96,631

Creditors: amounts falling due within one year	1,379		1,260
	--------		--------
Net current assets		87,510	95,371
		--------	--------
Total assets less current liabilities		87,734	96,000

Creditors: amounts falling due after more than one year	36,705	36,887
	--------	--------
Net assets	51,029	59,113
	--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	51,028	59,112
	--------	--------
Shareholders funds	51,029	59,113
	--------	--------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Throwing Shadows Limited

Abridged Statement of Financial Position (continued)

31 March 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 31 October 2020 , and are signed on behalf of the board by:

Mr A Mackay
Director

Company registration number: 06746901

Throwing Shadows Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is C/- Sable Accounting, 13th Floor, One Croydon, 12-16 Addiscombe Road, Croydon, CR0 0XT.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer Equipment	-	33% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2019: 1 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2020	2019
	£	£
Depreciation of tangible assets	405	510
	----	----

6. Tangible assets

	£
Cost
At 1 April 2019 and 31 March 2020	12,096
	--------
Depreciation
At 1 April 2019	11,467
Charge for the year	405
	--------
At 31 March 2020	11,872
	--------
Carrying amount
At 31 March 2020	224
	--------
At 31 March 2019	629
	--------

7. Related party transactions

The company was under the control of Mr A. Mackay throughout the current and previous year. Mr A. Mackay is the managing director and majority shareholder. Loans from the Directors at the year end were as follows: Mr A Mackay 2020: £36 705 (2019: £36 887)