Set the Scene Design Limited Filleted accounts for Companies House (small and micro)

SET THE SCENE DESIGN LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2021-02-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 05636961 2021-02-01 2022-01-31 05636961 2022-01-31 05636961 2021-01-31 05636961 2020-02-01 2021-01-31 05636961 2021-01-31 05636961 core:PlantMachinery 2021-02-01 2022-01-31 05636961 core:FurnitureFittings 2021-02-01 2022-01-31 05636961 bus:Director1 2021-02-01 2022-01-31 05636961 core:PlantMachinery 2021-01-31 05636961 core:FurnitureFittings 2021-01-31 05636961 core:PlantMachinery 2022-01-31 05636961 core:FurnitureFittings 2022-01-31 05636961 core:WithinOneYear 2022-01-31 05636961 core:WithinOneYear 2021-01-31 05636961 core:AfterOneYear 2022-01-31 05636961 core:AfterOneYear 2021-01-31 05636961 core:ShareCapital 2022-01-31 05636961 core:ShareCapital 2021-01-31 05636961 core:RetainedEarningsAccumulatedLosses 2022-01-31 05636961 core:RetainedEarningsAccumulatedLosses 2021-01-31 05636961 core:PlantMachinery 2021-01-31 05636961 core:FurnitureFittings 2021-01-31 05636961 bus:SmallEntities 2021-02-01 2022-01-31 05636961 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 05636961 bus:FullAccounts 2021-02-01 2022-01-31 05636961 bus:SmallCompaniesRegimeForAccounts 2021-02-01 2022-01-31 05636961 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31

COMPANY REGISTRATION NUMBER: 05636961

Set the Scene Design Limited

Filleted Unaudited Financial Statements

31 January 2022

Set the Scene Design Limited

Financial Statements

Year ended 31 January 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Set the Scene Design Limited

Statement of Financial Position

31 January 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	22	461

Current assets

Debtors	6	35,621	47,706
Cash at bank and in hand		3	5,531
		--------	--------
		35,624	53,237

Creditors: amounts falling due within one year	7	24,001	1,564
		--------	--------
Net current assets		11,623	51,673
		--------	--------
Total assets less current liabilities		11,645	52,134

Creditors: amounts falling due after more than one year	8	2,722	4,000
		--------	--------
Net assets		8,923	48,134
		--------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	7,923	47,134
	-------	--------
Shareholders funds	8,923	48,134
	-------	--------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2022 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 financial statements for the year in question in accordance with section 476 ;

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

Set the Scene Design Limited

Statement of Financial Position (continued)

31 January 2022

These financial statements were approved by the board of directors and authorised for issue on 7 June 2022 , and are signed on behalf of the board by:

Ms L J Griffiths
Director

Company registration number: 05636961

Set the Scene Design Limited

Notes to the Financial Statements

Year ended 31 January 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71 Pyle Inn Way, Pyle, Bridgend, CF33 6LP.

2. Statement of compliance

These 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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:

Plant and machinery	-	20% straight line
Fixtures and fittings	-	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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. 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 1 (2021: 1 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 February 2021 and 31 January 2022	19,586	11,440	31,026
	--------	--------	--------
Depreciation
At 1 February 2021	19,583	10,982	30,565
Charge for the year	–	439	439
	--------	--------	--------
At 31 January 2022	19,583	11,421	31,004
	--------	--------	--------
Carrying amount
At 31 January 2022	3	19	22
	--------	--------	--------
At 31 January 2021	3	458	461
	--------	--------	--------

6. Debtors

	2022	2021
	£	£
Other debtors	35,621	47,706
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	3,226	–
Social security and other taxes	425	1,369
Other creditors	20,350	195
	--------	-------
	24,001	1,564
	--------	-------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	2,722	4,000
	-------	-------

9. Director's advances, credits and guarantees

At the start of the year a balance of £11,474 was owed to the company by its director Ms L J Griffiths. The aggregate of advances to the director during the year was £14,519, whilst the aggregate of repayments was £46,448 leaving a balance owed to the director by the company of £20,455 at the year end. Interest of £219 has been charged on the overdrawn balance. The closing balance has no fixed repayment date.