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Arts Scholars Events Limited |
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Audited Financial Statements for the Year Ended 31 March 2017 |
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REGISTERED NUMBER:
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Arts Scholars Events Limited |
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Audited Financial Statements for the Year Ended 31 March 2017 |
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Arts Scholars Events Limited (Registered number: 08237991) |
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Contents of the Financial Statements |
for the year ended 31 March 2017 |
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Page |
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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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Arts Scholars Events Limited |
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Company Information |
for the year ended 31 March 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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INDEPENDENT AUDITORS : |
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Curzon House 2nd Floor |
24 High Street |
Banstead |
Surrey |
SM7 2LJ |
Arts Scholars Events Limited (Registered number: 08237991) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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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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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Arts Scholars Events Limited (Registered number: 08237991) |
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Notes to the Financial Statements |
for the year ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Arts Scholars Events Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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These accounts have been prepared in accordance with applicable accounting standards. |
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The financial statements for the year ended 31 March 2017 are the first financial statements that comply with |
FRS 102. The date of transition is 1 April 2015. The transition to FRS 102 has not resulted in any changes in |
accounting policies to those used previously and there has not been any impact on opening equity or profit for |
the comparative period. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Financial instruments |
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic |
financial instruments are initially recognised at transaction value and subsequently measured at their |
settlement value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Arts Scholars Events Limited (Registered number: 08237991) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2017 |
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3. | AUDITORS' REMUNERATION |
2017 | 2016 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
1,245 |
1,155 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by associates |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | RELATED PARTY DISCLOSURES |
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The Worshipful Company of Arts Scholars |
The company's 100% shareholder. |
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During the year the company was charged a management charge of £5,435 (2016 - £5,310) by The Worshipful |
Company of Arts Scholars and received donations from it of £5,681 (2016- £6,912). At the year end the amount |
due from The Worshipful Company of Arts Scholars was £1,269 (2016 - £1,912). |
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The Company of Arts Scholars Charitable Trust |
The trustees of The Company of Arts Scholars Charitable Trust are members of The Worshipful Company of |
Arts Scholars and these two entities have similar objectives. |
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At the year end the amount due from The Company of Arts Scholars Charitable Trust was £1,144 (2016 - £894). |
Arts Scholars Events Limited (Registered number: 08237991) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2017 |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary of The Worshipful Company of Arts Scholars, a Livery Company of |
the City of London. |