Compassionart Publishing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06314854 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Compassionart Publishing Limited

Previously known as

Gloworks Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M J Smith

REGISTERED OFFICE:

1 Pinnacle Way

Pride Park

Derby

Derbyshire

DE24 8ZS

REGISTERED NUMBER:

06314854 (England and Wales)

ACCOUNTANTS:

Franklin Underwood

1 Pinnacle Way

Pride Park

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Tangible assets

4

307

396

CURRENT ASSETS

Debtors

5

3,514

618

Cash at bank

35,023

29,434

38,537

30,052

CREDITORS

Amounts falling due within one year

6

9,285

8,301

NET CURRENT ASSETS

29,252

21,751

TOTAL ASSETS LESS CURRENT LIABILITIES

29,559

22,147

PROVISIONS FOR LIABILITIES

52

79

NET ASSETS

29,507

22,068

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

29,506

22,067

SHAREHOLDERS' FUNDS

29,507

22,068

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 22 January 2018 and were signed by:

Mr M J Smith - Director

1.	STATUTORY INFORMATION

Compassionart Publishing Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

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 gross royalties received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

438

2,369

2,807

DEPRECIATION

At 1 June 2016

337

2,074

2,411

Charge for year

15

74

89

At 31 May 2017

352

2,148

2,500

NET BOOK VALUE

At 31 May 2017

86

221

307

At 31 May 2016

101

295

396

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

300

400

Prepayments and accrued income

3,214

218

3,514

618

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

16

Tax

1,765

668

Other creditors

2,378

2,475

Amounts owed to group undertakings

1,567

1,580

Directors' current accounts

2,255

2,242

Accruals and deferred income

1,320

1,320

9,285

8,301

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

8.	RELATED PARTY DISCLOSURES

Compassionart Publishing Limited is a wholly owned subsidiary of Compassionart Limited.

At the year end the company owed £1,567 (2016 £1,580) to Compassionart Limited in respect of donations

received on behalf of Compassionart Limited.

9.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 May 2017 are the first financial statements that comply with

FRS 102 Section 1A "Small Entities". The date of transition is 1 June 2015. The transition to FRS 102 Section

1A "Small Entities" has resulted in no changes in the amounts stated in these accounts to those stated previously.