Athena Events Limited Filleted accounts for Companies House (small and micro)

ATHENA EVENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07938985

Athena Events Limited

Filleted Unaudited Financial Statements

30 June 2022

Athena Events Limited

Statement of Financial Position

30 June 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		72,617	48,816

Current assets

Stocks		67,079	3,530
Debtors	6	122,290	57,100
Cash at bank and in hand		649,244	204,188
		---------	---------
		838,613	264,818

Creditors: amounts falling due within one year	7	759,014		250,031
		---------		---------
Net current assets			79,599	14,787
			---------	--------
Total assets less current liabilities			152,216	63,603

Provisions

Taxation including deferred tax	13,709	9,275
	---------	--------
Net assets	138,507	54,328
	---------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	138,505	54,326
	---------	--------
Shareholders funds	138,507	54,328
	---------	--------

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 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Athena Events Limited

Statement of Financial Position (continued)

30 June 2022

These financial statements were approved by the board of directors and authorised for issue on 9 June 2023 , and are signed on behalf of the board by:

Mr S Singh

Director

Company registration number: 07938985

Athena Events Limited

Notes to the Financial Statements

Year ended 30 June 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 The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

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:

Fixtures & fittings	-	20% straight line
Equipment	-	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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 79 (2021: 12 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2021	41,665	122,339	164,004
Additions	2,100	53,644	55,744
Disposals	–	( 14,241)	( 14,241)
	--------	---------	---------
At 30 June 2022	43,765	161,742	205,507
	--------	---------	---------
Depreciation
At 1 July 2021	32,152	83,036	115,188
Charge for the year	6,095	25,848	31,943
Disposals	–	( 14,241)	( 14,241)
	--------	---------	---------
At 30 June 2022	38,247	94,643	132,890
	--------	---------	---------
Carrying amount
At 30 June 2022	5,518	67,099	72,617
	--------	---------	---------
At 30 June 2021	9,513	39,303	48,816
	--------	---------	---------

6. Debtors

	2022	2021
	£	£
Trade debtors	86,223	34,250
Other debtors	36,067	22,850
	---------	--------
	122,290	57,100
	---------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	84,265	98,558
Amounts owed to group undertakings and undertakings in which the company has a participating interest	291,303	60,474
Corporation tax	200,801	33,555
Social security and other taxes	67,680	22,939
Other creditors	114,965	34,505
	---------	---------
	759,014	250,031
	---------	---------

8. Related party transactions

The company's holding company is Bortell Holdings Limited. The registered office of this company is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.