The Sculpture Factory Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04334469 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

FOR

THE SCULPTURE FACTORY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J D Crisfield

SECRETARY:

L F G Crisfield

REGISTERED OFFICE:

83 Cambridge Street

London

SW1V 4PS

REGISTERED NUMBER:

04334469 (England and Wales)

ACCOUNTANTS:

George Hay & Company

Chartered Accountants

83 Cambridge Street

London

SW1V 4PS

CURRENT ASSETS

Debtors

4

702

135,488

Cash at bank

9,298

-

10,000

135,488

CREDITORS

Amounts falling due within one year

5

7,423

172,190

NET CURRENT ASSETS/(LIABILITIES)

2,577

(36,702

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,577

(36,702

)

CREDITORS

Amounts falling due after more than one year

6

34,800

-

NET LIABILITIES

(32,223

)

(36,702

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(32,224

)

(36,703

)

SHAREHOLDERS' FUNDS

(32,223

)

(36,702

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2022 and were signed by:

J D Crisfield - Director

1.	STATUTORY INFORMATION

The Sculpture Factory Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises of current tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

702

135,488

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

1,200

162,687

Trade creditors

1,731

88

Tax

-

990

VAT

2,992

4,175

Accrued expenses

1,500

4,250

7,423

172,190

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

7,200

-

Bank loans - 2-5 years

21,600

-

Bank loans more 5 yr by instal

6,000

-

34,800

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,000

-