ACCOUNTS - Final Accounts

STEVE TEMPIA EDITOR LIMITED - Company Information

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Registered number: 04742647

STEVE TEMPIA EDITOR LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

STEVE TEMPIA EDITOR LIMITED

REGISTERED NUMBER: 04742647

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

		2021		2020
Note		£		£


Current assets
Cash at bank and in hand	5	37,287		30,723
		37,287		30,723
Creditors: amounts falling due within one year	6	(10,977)		(11,791)
Net current assets			26,310		18,932
Total assets less current liabilities			26,310		18,932

Net assets			26,310		18,932

Capital and reserves
Called up share capital	100	100
Profit and loss account	26,210	18,832
	26,310	18,932

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 November 2021.

S J Tempia

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

STEVE TEMPIA EDITOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Steve Tempia Editor Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Flat 4, 19 Brunswick Terrace, Hove, BN3 1HL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue represents fees for television and video editing.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 2

STEVE TEMPIA EDITOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

2.6

Creditors

Short term creditors are measured at the transaction price.

2.7

Dividends

Equity dividends are recognised when they become legally payable.

2.8

Interest income

Interest income is recognised in profit or loss when received.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 3

STEVE TEMPIA EDITOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Tangible fixed assets

		Furniture, fittings and equipment
		£
	Cost or valuation
	At 1 April 2020	1,085
	At 31 March 2021	1,085
	Depreciation
	At 1 April 2020	1,085
	At 31 March 2021	1,085
	Net book value
	At 31 March 2021	-
	At 31 March 2020	-

5.	Cash
		2021	2020
		£	£

Cash at bank	37,287	30,723
	37,287	30,723

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	7,126	8,754
Other taxation and social security	1,923	1,892
Other creditors	932	155
Accruals	996	990
	10,977	11,791

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