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

REGISTERED NUMBER: 06471162

Unaudited Financial Statements for the Year Ended 31 January 2021

for

PHARAON EVENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Pharaon

REGISTERED OFFICE:

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

BUSINESS ADDRESS:

Unit 10

Worton Park

Cassington

Oxfordshire

OX29 4SX

REGISTERED NUMBER:

06471162

ACCOUNTANTS:

Camerons Accountancy Consultants Limited

Chartered Accountants

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

FIXED ASSETS

Tangible assets

4

3,239

2,629

Investment property

5

1,046,713

1,046,713

1,049,952

1,049,342

CURRENT ASSETS

Debtors

6

3,158

2,371

Cash at bank

12,417

4,398

15,575

6,769

CREDITORS

Amounts falling due within one year

7

348,663

347,954

NET CURRENT LIABILITIES

(333,088

)

(341,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

716,864

708,157

CREDITORS

Amounts falling due after more than one year

8

675,050

675,050

NET ASSETS

41,814

33,107

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

9

(9,439

)

(9,439

)

Retained earnings

51,252

42,545

SHAREHOLDERS' FUNDS

41,814

33,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 13 May 2021 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 (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2020

18,402

4,172

4,558

27,132

Additions

-

-

1,900

1,900

At 31 January 2021

18,402

4,172

6,458

29,032

DEPRECIATION

At 1 February 2020

16,903

3,042

4,558

24,503

Charge for year

375

282

633

1,290

At 31 January 2021

17,278

3,324

5,191

25,793

NET BOOK VALUE

At 31 January 2021

1,124

848

1,267

3,239

At 31 January 2020

1,499

1,130

-

2,629

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2020

and 31 January 2021

1,046,713

NET BOOK VALUE

At 31 January 2021

1,046,713

At 31 January 2020

1,046,713

Fair value at 31 January 2021 is represented by:

£

Valuation in 2019

(9,439

)

Cost

1,056,152

1,046,713

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,500

1,050

Other debtors

1,658

1,321

3,158

2,371

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

1,222

Taxation and social security

1,897

574

Other creditors

346,766

346,158

348,663

347,954

The above creditors figure includes £345,217 due to Mr M Pharaon, director of Pharaon Events Ltd (£344,611 in 2020). This loan is interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Included in creditors due after more than one year is £675,050 due to Mr M Pharaon, director of Pharaon Events Ltd ( £675,050 in 2020). This loan is interest free and repayable in more than one year.

9.

RESERVES

Fair

value

reserve

£

At 1 February 2020

and 31 January 2021

(9,439

)

10.	ULTIMATE CONTROLLING PARTY