Company Registration No. 07887688 (England and Wales)
Warehouse Arts Limited
Annual report and unaudited financial statements
For the year ended 31 December 2018
Pages for filing with registrar
WAREHOUSE ARTS LIMITED
Warehouse Arts Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WAREHOUSE ARTS LIMITED
Warehouse Arts Limited
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
605
912
Current assets
Debtors
3
8,011
16,660
Cash at bank and in hand
2,460
5,678
10,471
22,338
Creditors: amounts falling due within one year
4
(6,531)
(7,611)
Net current assets
3,940
14,727
Total assets less current liabilities
4,545
15,639
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
4,544
15,638
Total equity
4,545
15,639
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 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 27 September 2019
F D Linehan
Director
Company Registration No. 07887688
WAREHOUSE ARTS LIMITED
Warehouse Arts Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
Warehouse Arts Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
55 Loudoun Road, St John's Wood, NW8 0DL, London, England.
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 £.
1.2
Turnover
Turnover represents amounts receivable for music consultancy services net of VAT.
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:
Plant and machinery
25% straight line basis
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2018 and 31 December 2018
3,869
Depreciation and impairment
At 1 January 2018
2,957
Depreciation charged in the year
307
At 31 December 2018
3,264
Carrying amount
At 31 December 2018
605
At 31 December 2017
912
WAREHOUSE ARTS LIMITED
Warehouse Arts Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 3 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
5,000
-
Other debtors
3,011
16,660
8,011
16,660
4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,781
2,640
Corporation tax
1,847
2,080
Other creditors
1,903
2,891
6,531
7,611
5
Called up share capital
2018
2017
£
£
Ordinary share capital
1 Ordinary share of £1 each
1
1
1
1
6
Related party relationships and transactions
During the year, the company advanced loans of £
7,57
3 to the director and received repayments of £19,750 from the director. During the year the company charged interest to the director of £310 on outstanding loan balances. At the year end, the director owed the company £2,200 (201
7
: £
14,067
). The loan was repaid in full by 27 June 2019.