Artiste Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11919448 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2021

FOR

ARTISTE GROUP LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

CURRENT ASSETS

Debtors

5

269,348

23,553

Investments

6

401

401

Cash at bank

16

683

269,765

24,637

CREDITORS

Amounts falling due within one year

7

294,217

80,270

NET CURRENT LIABILITIES

(24,452

)

(55,633

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,452

)

(55,633

)

CREDITORS

Amounts falling due after more than one year

8

41,977

-

NET LIABILITIES

(66,429

)

(55,633

)

CAPITAL AND RESERVES

Called up share capital

10

5

5

Retained earnings

(66,434

)

(55,638

)

SHAREHOLDERS' FUNDS

(66,429

)

(55,633

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2022 and were signed by:

Mr J P Millins - Director

1.	STATUTORY INFORMATION

Artiste Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11919448

Registered office:

Croydon Hall

Felons Oak

Rodhuish

Minehead

Somerset

TA24 6QT

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Artiste Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Government grants

The entity has adopted the use of the accruals model in respect of grants received.

Any grant that becomes 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 shall be recognised in ‘Other income’, in the period to which it relates.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The company's director has confirmed his intention to continue his support to the company for the foreseeable future.

The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future.

Fixed assets investments

Investments in subsidiary undertakings are recognised at cost less impairment.

4.	EMPLOYEES AND DIRECTORS

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

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by group undertakings

258,714

15,024

VAT

-

405

Deferred tax asset

Tax losses carried forward

10,634

8,124

269,348

23,553

6.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Shares in group undertakings

401

401

It is not possible to measure the unlisted investments at fair value reliably and therefore these investments shall instead be measured at cost less impairment.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,023

-

Trade creditors

-

1,001

Amounts owed to group undertakings

283,228

76,380

VAT

285

-

Other creditors

-

1,843

Director's current account

1,381

396

Accruals and deferred income

1,300

650

294,217

80,270

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

41,977

-

9.	DEFERRED TAX

£

Balance at 1 May 2020

(8,124

)

Provided during year

(2,510

)

Balance at 30 April 2021

(10,634

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

5

Ordinary

£1

5

5

11.	RELATED PARTY DISCLOSURES

Transactions

Included in other debtors is a loan balance of £2,464 (2020: £25) due from Artiste Records Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other debtors is a loan balance of £256,250 (2020: £6,100 creditor) due from Pure Leisure Management Limited, a parent company. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £50,205 (2020: £125 debtor) due to Artiste Brand Management Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £77,827 (2020: £16,577) due to Artiste Music Group Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £50,411 (2020: £363 debtor) due to Artiste Shop Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £28,379 (2020: £14,510 debtor) due to International Artiste Records Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £75,932 (2020: £44,312) due to Pure Touring Limited, a member of the group. This amount is interest free and repayable on demand.

Included in other creditors is a loan balance of £474 (2020: £9,391) due to Pure Management Limited, a member of the group. This amount is interest free and repayable on demand.

Included in the accounts is a management charge of £Nil (2020: £23,000) paid to the group company, Pure Management Limited.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Pure Leisure Management Holdings Limited.

13.	PARENT COMPANY

The company is a wholly owned subsidiary of Pure Leisure Management Holdings Limited whose address is Croydon Hall, Felons Oak, Rodhuish, Minehead, Somerset TA24 6Q.