Headtask Limited - Accounts to registrar (filleted) - small 18.2
Headtask Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| HEADTASK LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HEADTASK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Forum House |
| First Floor |
| 15-18 Lime Street |
| London |
| EC3M 7AN |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| BALANCE SHEET |
| 31ST JULY 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| BALANCE SHEET - continued |
| 31ST JULY 2020 |
| 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 on |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| 1. | STATUTORY INFORMATION |
| Headtask Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in Pound Sterling which is the functional currency of the company and rounded to nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of supply of services of broadcasting, airshows and presentations and rent receivable during the year, exclusive of value added tax and trade discounts. |
| Revenue is recognised during the period to which it relates. |
| Tangible fixed assets and depreciation |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
| Furniture, fittings and office equipment - 25% reducing balance |
| Investment property |
| Investment properties are shown at their fair value. Any adjustment to the fair value of the investment properties is recognised in the profit and loss account for the year. |
| In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view. |
| Debtors & creditors |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st August 2019 |
| and 31st July 2020 |
| DEPRECIATION |
| At 1st August 2019 |
| Charge for year |
| At 31st July 2020 |
| NET BOOK VALUE |
| At 31st July 2020 |
| At 31st July 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st August 2019 |
| Disposals | ( |
) |
| At 31st July 2020 |
| NET BOOK VALUE |
| At 31st July 2020 |
| At 31st July 2019 |
| Fair value at 31st July 2020 is represented by: |
| £ |
| Valuation in 2017 | 500,000 |
| Valuation in 2021 | (500,000 | ) |
| The investment property was sold during the year. There were no investment properties owned by the company at the financial year end. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other creditors |
| HEADTASK LIMITED (REGISTERED NUMBER: 02679172) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST JULY 2020 |
| 7. | RESERVES |
| Fair value |
| reserve |
| £ |
| At 1st August 2019 |
| Disposal | (175,090 | ) |
| At 31st July 2020 |