G39 - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03938363 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

G39

PREVIOUSLY KNOWN AS

CONTEMPORARY TEMPORARY ARTSPACE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L E Lovett

C A Brown

A D Shapland

H Ansari

K L S Haines

J Corbett-Simmons

S Ingolfsson

SECRETARY:

S D Caddick

REGISTERED OFFICE:

G39 Oxford Street

Cardiff

CF24 3DT

REGISTERED NUMBER:

03938363 (England and Wales)

ACCOUNTANTS:

Graham Paul Chartered Accountants

5 Ash Tree Court

Woodsy Close

Cardiff Gate Business Park

Cardiff

CF23 8RW

FIXED ASSETS

Tangible assets

4

938

1,254

CURRENT ASSETS

Debtors

5

10,900

34,455

Cash at bank and in hand

21,286

7,937

32,186

42,392

CREDITORS

Amounts falling due within one year

6

19,763

28,396

NET CURRENT ASSETS

12,423

13,996

TOTAL ASSETS LESS CURRENT LIABILITIES

13,361

15,250

RESERVES

Income and expenditure account

13,361

15,250

13,361

15,250

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 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 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 Board of Directors on 18 December 2018 and were signed on its behalf by:

C A Brown - Director

1.	STATUTORY INFORMATION

G39 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 income received in the year from various grant providers, donations and earned

income and is measured at the fair value of the consideration received or receivable

Grant income is recognised when there is evidence of entitlement to the grant, receipt is probable and

its amount can be measured reliably.

Other income is recognised on receipt or when the services have been provided and the right to

consideration earned.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Cost includes the original purchase price plus any costs directly attributable to making the asset

capable of operating as and where intended.

Depreciation is provided at the following annual rates in order to write off the cost, less estimated

residual value, of each asset on a systematic basis over its estimated useful life:

Improvements to property - Over the shortest life of the lease

Fixtures, fittings and equipment - 33% and 20% straight line on cost

Taxation

A liability to corporation tax may arise on certain grant and earned income. It is not possible at this time

to calculate any potential liability with any degree of certainty and therefore, no provision has been

made in these financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates an auto enrolment workplace pension scheme. Contributions payable to the

pension scheme are charged to the profit and loss account in the period to which they relate.

Grants received

Grants received as a contribution to help finance the general activities and specific projects of the

company are credited to the profit and loss account when received. Any grants received in advance for

future projects are carried forward in deferred income and released in the period the project is carried

out or completed.

Grants towards capital expenditure are treated as deferred income and released to the profit and loss

account over the expected useful life of the assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Improvements

fittings

to

and

property

equipment

Totals

£

£

£

COST

At 1 April 2017

8,714

63,156

71,870

Additions

-

788

788

At 31 March 2018

8,714

63,944

72,658

DEPRECIATION

At 1 April 2017

8,714

61,902

70,616

Charge for year

-

1,104

1,104

At 31 March 2018

8,714

63,006

71,720

NET BOOK VALUE

At 31 March 2018

-

938

938

At 31 March 2017

-

1,254

1,254

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

700

-

Grants receivable

1,113

25,278

Prepayments

9,087

9,177

10,900

34,455

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Social security and other taxes

2,475

2,216

Deferred income

14,044

13,500

Creditors and accruals

3,244

12,680

19,763

28,396

7.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £113,400 (2017 - £145,800)

These amounts consist of annual operating lease commitments of £32,400 payable over the next three

and a half years (2017 - £32,400 payable over the next four and a half years).

8.	LIMITED BY GUARANTEE

Contemporary Temporary Artspace was incorporated on 2 March 2000 as a company limited by

guarantee and accordingly does not have a share capital. It is exempt from the requirement to use the

word "Limited" or its Welsh equivalent in its name.

The liability of the members is limited but every member of the company is required to contribute such

amount as may be required (not exceeding £10) to the assets of the company in the event of it being

wound up while he or she is a member, or within one year after he or she ceases to be a member.