Kagemusha Taiko - Period Ending 2017-03-31
Kagemusha Taiko - Period Ending 2017-03-31
Registration number:
Kagemusha Taiko
Unaudited Filleted Accounts
for the Year Ended 31 March 2017
Chartered Accountants & Business Advisers
130a High Street,
Crediton,
Devon
EX17 3LQ
Kagemusha Taiko
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Kagemusha Taiko
Company Information
Directors |
Mrs Janet Howe Miss Yvette Boggis Mr Steven Thomas Richardson Mr Ian Thistlethwaite Mr Matthew Macan |
Company secretary |
Mr Jonathan Peter Kirby |
Registered office |
|
Page 1 |
Kagemusha Taiko
(Registration number: 03823438)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Miss Yvette Boggis
Director
Page 2 |
Kagemusha Taiko
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a company limited by guarantee incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Taiko Centre
Hannah's at Seale Hayne
Newton Abbot
Devon
TQ12 6NQ
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Performance equipment |
33% straight line |
Office equipment |
20% straight line |
Motor vehicles |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 3 |
Kagemusha Taiko
Notes to the Financial Statements for the Year Ended 31 March 2017
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 4 |
Kagemusha Taiko
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||||
At 1 April 2016 |
|
|
|
|
At 31 March 2017 |
|
|
|
|
Depreciation |
||||
At 1 April 2016 |
|
|
|
|
Charge for the year |
|
|
- |
|
At 31 March 2017 |
|
|
|
|
Carrying amount |
||||
At 31 March 2017 |
- |
- |
- |
- |
At 31 March 2016 |
|
|
- |
|
Stocks |
2017 |
2016 |
|
Other inventories |
|
|
Debtors |
2017 |
2016 |
|
Trade debtors |
|
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
Note |
2017 |
2016 |
|
Due within one year |
|||
Bank loans and overdrafts |
- |
|
|
Trade creditors |
|
- |
|
Taxation and social security |
- |
|
|
Other creditors |
|
|
|
|
|
Page 5 |
Kagemusha Taiko
Notes to the Financial Statements for the Year Ended 31 March 2017
Loans and borrowings |
2017 |
2016 |
|
Current loans and borrowings |
||
Other borrowings |
- |
|
Parent and ultimate parent undertaking |
The ultimate controlling party is
Transition to FRS 102 |
Page 6 |