Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueHAPPY DAYS: EIBF LIMITEDNI6134942015-03-31-50072-48995-50072-48995-50072-48995-50072-48995-50072-48995772602005442718815154927188151549Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going Concern
The company reported a loss of £1,077 in the period taking its accumulated losses to £50,072 as at 31 March 2015. The directors continue to review the financial performance of the company and are in the process of implementing corrective actions in respect of future operational and financial outcomes.
The company continues to operate within its banking facilities and the directors believe these facilities will be maintained.
On the basis of the actions outlined above and anticipated outcomes, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover
The turnover shown in the profit and loss account statement of financial activities represents amounts received during the year in respect of the festival production.
Grants in respect of revenue expenditure are matched with the appropriate expenditure and are treated as income and credited to the profit and loss account in the year in which the respective expenditure is incurred.
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.
2015-12-23Ms M Heaneytruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureHAPPY DAYS: EIBF LIMITED2014-08-012015-03-31HAPPY DAYS: EIBF LIMITED2013-08-012014-07-31HAPPY DAYS: EIBF LIMITED2013-07-31HAPPY DAYS: EIBF LIMITED2014-07-31HAPPY DAYS: EIBF LIMITED2014-07-31HAPPY DAYS: EIBF LIMITED2015-03-31 2015-12-31
