Company Registration No. 06107486 (England and Wales)
FIREBIRD PUBLIC RELATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
FIREBIRD PUBLIC RELATIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FIREBIRD PUBLIC RELATIONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
125
Current assets
Debtors
4
6,285
50,352
Cash at bank and in hand
19,539
57,357
25,824
107,709
Creditors: amounts falling due within one year
5
(10,966)
(59,474)
Net current assets
14,858
48,235
Total assets less current liabilities
14,858
48,360
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
14,758
48,260
Total equity
14,858
48,360
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 June 2020
J Bevan
Director
Company Registration No. 06107486
FIREBIRD PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Firebird Public Relations Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
30 Upper High Street, Thame, Oxfordshire, OX9 3EZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest
pound.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
25% straight line basis
Computer equipment
33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
FIREBIRD PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
5
FIREBIRD PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
3
Tangible fixed assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 1 April 2019
3,150
5,579
8,729
Additions
-
1,058
1,058
Disposals
(3,150)
(6,637)
(9,787)
At 31 March 2020
-
-
-
Depreciation and impairment
At 1 April 2019
3,025
5,579
8,604
Depreciation charged in the year
125
1,058
1,183
Eliminated in respect of disposals
(3,150)
(6,637)
(9,787)
At 31 March 2020
-
-
-
Carrying amount
At 31 March 2020
-
-
-
At 31 March 2019
125
-
125
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
-
25,450
Corporation tax recoverable
6,285
-
Prepayments and accrued income
-
24,902
6,285
50,352
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
-
1,076
Taxation and social security
-
20,741
Other creditors
10,966
32,415
Accruals and deferred income
-
5,242
10,966
59,474