ARTS_FRESCO_EVENTS_LTD - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Arts Fresco Events Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 21, The Point, Rockingham Road, Market Harborough, Leicestershire, England, LE16 7NU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover represents amounts received from the company's parent undertaking for staging the Arts Fresco street theatre festival as well as amounts received from other, unconnected, clients for staging other similar events.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

Arts Fresco Limited, a charitable company which is the company's parent undertaking, paid the company £25,000 (2022: £9,683) to stage a street theatre festival known as Arts Fresco. The company is, in accordance with its Articles of Association, obliged to pay the surplus distributable profits that it made during the year of £2,998 (2022: £2,233 after deducting the deficit brought forward of £567) to its parent company under Gift Aid. The company owed its parent undertaking £2,998 at 31 March 2023 (2022: £2,850).