Clown About Salisbury Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03431489 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

CLOWN ABOUT SALISBURY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Lucas

M S Lucas

SECRETARY:

Mrs J Macey

REGISTERED OFFICE:

Windover House

St. Ann Street

Salisbury

SP1 2DR

BUSINESS ADDRESS:

Unit 5 Milford Trading Estate

Blakey Road

Salisbury

SP1 2JG

REGISTERED NUMBER:

03431489 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

4

32,635

6,896

CURRENT ASSETS

Stocks

5,500

4,800

Debtors

5

451,906

453,688

Cash at bank and in hand

667

11,754

458,073

470,242

CREDITORS

Amounts falling due within one year

414,113

417,980

NET CURRENT ASSETS

43,960

52,262

TOTAL ASSETS LESS CURRENT LIABILITIES

76,595

59,158

CAPITAL AND RESERVES

Called up share capital

7

500

500

Retained earnings

76,095

58,658

SHAREHOLDERS' FUNDS

76,595

59,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue by the Board of Directors on 30 October 2018 and were signed on its behalf by:

Mrs J M Lucas - Director

1.	STATUTORY INFORMATION

Clown About Salisbury 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is

the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents net sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low

value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the

profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of

acquisition.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past

event that will probably result in the transfer of funds to a third party and the amount due to settle the

obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their

settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2017

284,470

Additions

30,000

At 31 January 2018

314,470

DEPRECIATION

At 1 February 2017

277,574

Charge for year

4,261

At 31 January 2018

281,835

NET BOOK VALUE

At 31 January 2018

32,635

At 31 January 2017

6,896

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other debtors

451,906

447,003

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

200,000

200,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

500

Ordinary

£1

500

500

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2018 and

31 January 2017:

2018

2017

£

£

Mrs J M Lucas and M S Lucas

Balance outstanding at start of year

6,685

41,704

Amounts repaid

(6,685

)

(35,019

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

6,685