Festival Arts (UK) Limited - Abbreviated accounts 16.1

Festival Arts (UK) Limited - Abbreviated accounts 16.1

FESTIVAL ARTS (UK) LIMITED - Company Information

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REGISTERED NUMBER: 05503080















FESTIVAL ARTS (UK) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016






FESTIVAL ARTS (UK) LIMITED (REGISTERED NUMBER: 05503080)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 31 January 2016




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

FESTIVAL ARTS (UK) LIMITED (REGISTERED NUMBER: 05503080)

ABBREVIATED BALANCE SHEET
31 January 2016

31.1.16 31.1.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 3,375 4,653
3,375 4,653

CURRENT ASSETS
Stocks 3,925 3,850
Debtors 403 -
Cash at bank and in hand 19,772 20,585
24,100 24,435
NET CURRENT ASSETS 24,100 24,435
TOTAL ASSETS LESS CURRENT
LIABILITIES
27,475
29,088

RESERVES
Income and expenditure account 27,475 29,088
27,475 29,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 1 June 2016 and were signed on its
behalf by:





H R Clixby - Director


The notes form part of these abbreviated accounts

Page 1
FESTIVAL ARTS (UK) LIMITED (REGISTERED NUMBER: 05503080)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 31 January 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in
accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents all income from drama and related activities.

Goodwill
On incorporation the company acquired the assets of Festival Arts, an unincorporated society
which previously carried on the activities now undertaken by the company. As no consideration
was paid, the total value acquired represented negative goodwill. The amount relating to
equipment was released to the income and expenditure account over the same periods in which
the equipment was depreciated; the remaining amount was fully released to the profit and loss
account in the company's first accounting period.

Tangible fixed assets
Equipment acquired from the Festival Arts society on incorporation of the company was valued by
the directors (who were also the officers of the society) at estimated market value.
Subsequent additions are included at cost.
Depreciation of all equipment is provided at annual rates in order to write off each asset over its
estimated useful life, estimated at either 5 or 10 years.

Stocks
Stock consists of costumes and props, acquired from Festival Arts on incorporation, and has been
valued at its acquisition price, namely estimated market value.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015
and 31 January 2016 (35,043 )
AMORTISATION
At 1 February 2015
and 31 January 2016 (35,043 )
NET BOOK VALUE

At 31 January 2016 -
At 31 January 2015 -

Page 2 continued...
FESTIVAL ARTS (UK) LIMITED (REGISTERED NUMBER: 05503080)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 31 January 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015 26,694
Additions 745
At 31 January 2016 27,439
DEPRECIATION
At 1 February 2015 22,041
Charge for year 2,023
At 31 January 2016 24,064
NET BOOK VALUE
At 31 January 2016 3,375
At 31 January 2015 4,653

4. GUARANTEE

The company has no share capital and is limited by guarantee. The five members of the company
have agreed to contribute £1 each to the assets of the company in the event of it being wound up.

Page 3