| CultureActive Limited |
| Balance Sheet |
| As at 30 June 2017 |
|
|
|
|
2017 |
2017 |
2016 |
2016 |
|
|
Notes |
£ |
£ |
£ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
5,505 |
|
4,081 |
|
| Current assets |
| Debtors |
3 |
108,968 |
|
35,413 |
| Cash at bank and in hand |
34,111 |
|
135,260 |
|
|
|
143,079 |
|
170,673 |
|
| Creditors - amounts falling due within one year |
4 |
(32,431) |
|
(55,084) |
|
|
|
|
|
|
|
| Net current assets |
|
|
110,648 |
|
115,589 |
|
| Total assets less current liabilities |
116,153 |
|
119,670 |
|
| Provision for liabilities |
(876) |
|
(442) |
|
| Net assets |
115,277 |
|
119,228 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
100 |
|
100 |
| Profit and loss account |
115,177 |
|
119,128 |
|
| Shareholder's funds |
115,277 |
|
119,228 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from audit under section 477 of the Companies Act 2006. |
|
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
|
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
|
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| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Register of Companies. |
|
|
| Approved by the board on 29 March 2018 and signed on its behalf by: |
| Richard J Lewis |
| Director |
| The notes form an integral part of these accounts |
|
| Page 1 |
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| CultureActive Limited |
|
| Notes to the Financial Statements |
| For the year ended 30 June 2017 |
|
| 1. |
|
Accounting policies |
|
|
(a) |
Accounting convention |
|
|
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
|
(b) |
Turnover |
|
|
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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|
|
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(c) |
Tangible fixed assets and depreciation |
|
|
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: |
|
|
|
|
Furniture and fittings |
20% straight line |
|
|
Office equipment |
20% straight line |
|
|
Computer equipment |
25% straight line |
|
|
(d) |
Taxation |
|
|
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised in full in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each accounting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
|
|
|
|
|
|
|
(e) |
Foreign currency translation |
|
|
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account. |
|
|
|
(f) |
Provisions |
|
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
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| Page 2 |
|
| CultureActive Limited |
|
| Notes to the Financial Statements |
| For the year ended 30 June 2017 |
|
| 4. |
|
Creditors - amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
|
Trade creditors |
9,906 |
|
276 |
|
|
Taxation and social security costs |
15,880 |
|
19,315 |
|
|
Accruals and deferred income |
5,225 |
|
3,000 |
|
|
Other creditors |
1,420 |
|
32,493 |
|
|
|
|
|
|
|
|
32,431 |
|
55,084 |
|
|
|
|
|
|
|
|
|
|
|
| 5. |
|
Related party disclosures |
|
|
At the year end, the shareholder owed £71,401 (2016 - £31,579 Credit) to the company. The loan attracts interest at 3% pa and was paid in full on 29 March 2018. |
|
|
|
| 6. |
|
Controlling party |
|
|
The company is controlled by Mr Richard J Lewis by virtue of his holidng in the company. |
|
|
| 7. |
|
Statutory information |
|
|
The company is a private company limited by shares and incorporation in England. Its registered office is: |
|
|
|
27 Sancroft Street |
|
|
London |
|
|
SE11 5UG |
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| Page 4 |
