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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
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FIREHORSE DIGITAL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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FIREHORSE DIGITAL LIMITED |
FIREHORSE DIGITAL LIMITED (REGISTERED NUMBER: 07810691) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FIREHORSE DIGITAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
FIREHORSE DIGITAL LIMITED (REGISTERED NUMBER: 07810691) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 profit or loss 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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FIREHORSE DIGITAL LIMITED (REGISTERED NUMBER: 07810691) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Firehorse Digital Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern. |
COVID 19 has had an impact on the business, however the company has sufficient cash and reserves available to be able to continue as a going concern |
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Turnover |
Turnover represents invoice sales of digital marketing and training services. Work is invoiced on completion or on a monthly basis for ongoing engagements. |
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Tangible fixed assets |
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Computer equipment | - |
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Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
FIREHORSE DIGITAL LIMITED (REGISTERED NUMBER: 07810691) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Provisions |
Provisions are set up only where is is probable that a present obligations exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Corporation Tax |
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Social security and other taxes |
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Directors' loan accounts | 1,182 | 1,208 |
Accrued expenses |
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7. | OTHER FINANCIAL COMMITMENTS |
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The company had nil commitments at the year end (2019 - £6,788). |
FIREHORSE DIGITAL LIMITED (REGISTERED NUMBER: 07810691) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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No interest is being charged on the loan and there are no set repayments terms. |