Festival Arts (UK) Limited - Accounts to registrar - small 17.1

Festival Arts (UK) Limited - Accounts to registrar - small 17.1

FESTIVAL ARTS (UK) LIMITED - Company Information

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REGISTERED NUMBER: 05503080 (England and Wales)















FESTIVAL ARTS (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017






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






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FESTIVAL ARTS (UK) LIMITED

COMPANY INFORMATION
for the year ended 31 January 2017







DIRECTORS: J Baines
C J Beckett
H R Clixby
C Baines





SECRETARY: C Baines





REGISTERED OFFICE: 24 Featherstone Road
Kings Heath
Birmingham
B14 6BB





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

BALANCE SHEET
31 January 2017

31.1.17 31.1.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 2,846 3,375
2,846 3,375

CURRENT ASSETS
Stocks 3,925 3,925
Debtors 5 661 403
Cash at bank and in hand 19,873 19,772
24,459 24,100
NET CURRENT ASSETS 24,459 24,100
TOTAL ASSETS LESS CURRENT
LIABILITIES
27,305
27,475

RESERVES
Income and expenditure account 27,305 27,475
27,305 27,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 10 April 2017 and were signed on
its behalf by:





H R Clixby - Director


The notes form part of these financial statements

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

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2017

1. STATUTORY INFORMATION

Festival Arts (UK) Limited is a private company, limited by guarantee, number 05503080,
registered in England and Wales. Its registered office is at 24 Featherstone Road, Kings Heath,
Birmingham, B14 6BB.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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, partly acquired from Festival Arts on incorporation, and has
been valued at its acquisition price.

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 that have
been enacted or substantively enacted by the balance sheet date.

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2016
and 31 January 2017 (35,043 )
AMORTISATION
At 1 February 2016
and 31 January 2017 (35,043 )
NET BOOK VALUE
At 31 January 2017 -
At 31 January 2016 -

Page 3 continued...
FESTIVAL ARTS (UK) LIMITED (REGISTERED NUMBER: 05503080)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2017

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 February 2016 27,439
Additions 1,170
At 31 January 2017 28,609
DEPRECIATION
At 1 February 2016 24,064
Charge for year 1,699
At 31 January 2017 25,763
NET BOOK VALUE
At 31 January 2017 2,846
At 31 January 2016 3,375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Other debtors 661 403

6. 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.

7. FIRST YEAR ADOPTION

The company is required to adopt Financial Reporting Standard 102 "The Financial Reporting
Standard applicable in the UK and Republic of Ireland" (FRS) for its accounting period beginning on
1 January 2016 and, as a small company, has applied the provisions of Section 1A "Small Entities"
of FRS102.
There is no change required to the comparative figures as a result of the adoption of FRS102.


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