FIG Management Services Limited - Accounts to registrar (filleted) - small 23.2.5
FIG Management Services Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2023 |
| for |
| FIG MANAGEMENT SERVICES LIMITED |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Contents of the Financial Statements |
| for the year ended 31 August 2023 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| FIG MANAGEMENT SERVICES LIMITED |
| Company Information |
| for the year ended 31 August 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 11 Laura Place |
| Bath |
| BA2 4BL |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| FIG Management Services Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FIG Management Services Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of FIG Management Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FIG Management Services Limited and state those matters that we have agreed to state to the Board of Directors of FIG Management Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FIG Management Services Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that FIG Management Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FIG Management Services Limited. You consider that FIG Management Services Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of FIG Management Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 11 Laura Place |
| Bath |
| BA2 4BL |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Balance Sheet |
| 31 August 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Balance Sheet - continued |
| 31 August 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Notes to the Financial Statements |
| for the year ended 31 August 2023 |
| 1. | STATUTORY INFORMATION |
| FIG Management Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised when service is rendered. |
| Tangible fixed assets |
| Website | - |
| Computer equipment | - |
| Critical accounting judgements and key sources of estimation uncertainty |
| No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 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, loans from banks and other third parties. |
| 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 the profit or loss. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| Website | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2022 |
| Additions |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 September 2022 |
| and 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| As at 31 August 2023, FIG Management Limited holds an investment in Big Screen Productions 18 LLP of £25,856 operated by Ingenious Capital Management Ltd. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other creditors |
| Included in other creditors is £7,057 that is secured by a deed of security assignment held by Ingenious Resources Ltd. |
| The bank loan relates to a government backed Bounce Back Loan |
| 9. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 910 | 1,612 |
| FIG MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 05900447) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2023 |
| 9. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2022 |
| Accelerated capital allowances | (702 | ) |
| Balance at 31 August 2023 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| A Ordinary | £1 | 56 | 56 |
| B Ordinary | £1 | 21 | 21 |
| C Ordinary | £1 | 24 | 24 |
| 101 | 101 |
| All classes of shares carry identical rights apart from the ability to declare different dividends on each class of share. |