Registration number:
United Special Effects Limited
for the Period from 1 March 2017 to 31 May 2018
102 Fulham Palace Road
London
W6 9PL
United Special Effects Limited
Contents
Company Information |
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Statement of Director's Responsibilities |
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Balance Sheet |
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Notes to the Financial Statements |
United Special Effects Limited
Company Information
Director |
Mr Stuart Brisdon |
Company secretary |
Deborah Saban |
Registered office |
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Accountants |
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Page 1 |
United Special Effects Limited
Statement of Director's Responsibilities
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2 |
United Special Effects Limited
(Registration number: 02738484)
Balance Sheet as at 31 May 2018
Note |
15 month period to 31 May |
Year to 28 February |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial period ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
United Special Effects Limited
(Registration number: 02738484)
Balance Sheet as at 31 May 2018
Approved and authorised by the
.........................................
Mr Stuart Brisdon
Director
Page 4 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
General information |
The company is a private company limited by share capital, incorporated in England .
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 5 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
25% straight line basis |
Office equipment |
25% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 6 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
Financial instruments
Classification
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
Page 7 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 March 2017 |
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Disposals |
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At 31 May 2018 |
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- |
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Depreciation |
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At 1 March 2017 |
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Eliminated on disposal |
( |
( |
( |
At 31 May 2018 |
- |
- |
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Carrying amount |
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At 31 May 2018 |
- |
- |
- |
At 28 February 2017 |
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Debtors |
15 month period to 31 May |
Year to 28 February |
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Other debtors |
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Page 8 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
Creditors |
Creditors: amounts falling due within one year
15 month period to 31 May |
Year to 28 February |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Page 9 |
United Special Effects Limited
Notes to the Financial Statements for the Period from 1 March 2017 to 31 May 2018
Share capital |
Allotted, called up and fully paid shares
15 month period to 31 May |
Year to 28 February |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Debtors due under one year include amounts owed to the company by the director of £123 (2017 - £9,620).
Page 10 |