Set the Scene Design Limited Filleted accounts for Companies House (small and micro)

SET THE SCENE DESIGN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05636961

Set the Scene Design Limited

Filleted Unaudited Financial Statements

31 January 2018

Set the Scene Design Limited

Financial Statements

Year ended 31 January 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Set the Scene Design Limited

Statement of Financial Position

31 January 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	1,600	4,484

Current assets

Debtors	6	74,615	58,828
Cash at bank and in hand		43,381	60,354
		---------	---------
		117,996	119,182

Creditors: amounts falling due within one year	7	3,154	3,119
		---------	---------
Net current assets		114,842	116,063
		---------	---------
Total assets less current liabilities		116,442	120,547
		---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	115,442	119,547
	---------	---------
Shareholders funds	116,442	120,547
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 January 2019 , and are signed on behalf of the board by:

Ms L J Griffiths
Director

Company registration number: 05636961

Set the Scene Design Limited

Notes to the Financial Statements

Year ended 31 January 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, Dan Y Coed, St Clears, Camarthen, SA33 4JR, Dyfed.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 February 2017	18,891	10,122	29,013
Additions	168	–	168
	--------	--------	--------
At 31 January 2018	19,059	10,122	29,181
	--------	--------	--------
Depreciation
At 1 February 2017	17,733	6,796	24,529
Charge for the year	732	2,320	3,052
	--------	--------	--------
At 31 January 2018	18,465	9,116	27,581
	--------	--------	--------
Carrying amount
At 31 January 2018	594	1,006	1,600
	--------	--------	--------
At 31 January 2017	1,158	3,326	4,484
	--------	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	126	126
Other debtors	74,489	58,702
	--------	--------
	74,615	58,828
	--------	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	984	2,364
Other creditors	2,170	755
	-------	-------
	3,154	3,119
	-------	-------

8. Director's advances, credits and guarantees

At the start of the year a balance of £39,853 was owed to the company by its director Ms L J Griffiths. The aggregate of advances to the director during the year was £8,782, whilst the aggregate of repayments was £4,062 leaving a balance outstanding at the year end of £45,799 after interest of £1,226 has been charged on the overdrawn balance. The closing balance has no fixed repayment date.