Registration number:
for the
Year Ended
Alistair Weaver Limited
trading as Gaucho Productions
(Registration number: 04601729)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
|
Fixed assets |
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Tangible assets |
|
|
|
Other financial assets |
159,346 |
194,473 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Deferred tax liabilities |
(3,118) |
(4,330) |
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
|
|
|
Profit and loss account |
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|
|
Total equity |
|
|
For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
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.
Approved and authorised by the
A M Weaver
Director
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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.
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
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 and machinery |
25% written down value |
Fixtures and fittings |
25% written down value |
Office equipment |
25% written down value |
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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
Financial instruments
Classification
Recognition and measurement
Impairment
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was as follows:
2017 |
2016 |
|
Average number of employees |
5 |
5 |
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost |
||
At 1 April 2016 |
|
|
Additions |
|
|
At 31 March 2017 |
|
|
Depreciation |
||
At 1 April 2016 |
|
|
Charge for the year |
|
|
At 31 March 2017 |
|
|
Carrying amount |
||
At 31 March 2017 |
|
|
At 31 March 2016 |
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|
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 April 2016 |
194,473 |
194,473 |
Fair value adjustments |
9,851 |
9,851 |
Additions |
19,909 |
19,909 |
Disposals |
(64,887) |
(64,887) |
At 31 March 2017 |
159,346 |
159,346 |
Impairment |
||
Carrying amount |
||
At 31 March 2017 |
|
159,346 |
Debtors |
Note |
2017 |
2016 |
|
Trade debtors |
|
|
|
Director's loan account |
- |
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Accrued income |
- |
|
|
|
|
Alistair Weaver Limited
trading as Gaucho Productions
Notes to the Financial Statements for the Year Ended 31 March 2017
Creditors |
Note |
2017 |
2016 |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Trade creditors |
- |
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
|
- |
|
Other creditors |
|
|
|
Accrued expenses |
|
|
|
Corporation tax liability |
- |
31,962 |
|
Deferred income |
- |
|
|
|
|
Loans and borrowings |
2017 |
2016 |
|
Current loans and borrowings |
||
Director's loan account |
|
- |
Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Transactions with directors |
Other transactions with directors |
At 31 March 2016, the director owed the company £7,766 in the form of a director's loan account. The loan was interest free and repaid during the year.
Transition to FRS 102 |