Chapel Arts Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05437483 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

CHAPEL ARTS CENTRE LIMITED

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr P J Andrews

REGISTERED OFFICE:

584 Wellsway

Bath

Somerset

BA2 2UE

REGISTERED NUMBER:

05437483 (England and Wales)

ACCOUNTANTS:

JSH Accountancy Limited

584 Wellsway

Bath

Somerset

BA2 2UE

The director presents his report with the financial statements of the company for the year ended 31 March 2018.

DIRECTOR

Mr P J Andrews held office during the whole of the period from 1 April 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr P J Andrews - Director

16 December 2018

FIXED ASSETS

Tangible assets

4

95,515

10,790

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

7,846

2,149

Cash at bank

7,776

10,310

18,622

15,459

CREDITORS

Amounts falling due within one year

6

(121,615

)

(43,246

)

NET CURRENT LIABILITIES

(102,993

)

(27,787

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,478

)

(16,997

)

RESERVES

Income and expenditure account

(7,478

)

(16,997

)

(7,478

)

(16,997

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 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 director on 16 December 2018 and were signed by:

Mr P J Andrews - Director

1.	STATUTORY INFORMATION

Chapel Arts Centre Limited is a private company, limited by guarantee , 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

Equipment

Totals

£

£

£

COST

At 1 April 2017

38,942

-

38,942

Additions

-

101,581

101,581

At 31 March 2018

38,942

101,581

140,523

DEPRECIATION

At 1 April 2017

28,152

-

28,152

Charge for year

1,619

15,237

16,856

At 31 March 2018

29,771

15,237

45,008

NET BOOK VALUE

At 31 March 2018

9,171

86,344

95,515

At 31 March 2017

10,790

-

10,790

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

7,442

1,757

Prepayments

404

392

7,846

2,149

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

8,382

7,786

Amounts owed to associates

58,518

-

Directors' current accounts

52,555

33,540

Accrued expenses

2,160

1,920

121,615

43,246