TheSet Ltd
|
Notes to the Accounts |
for the year ended 31 March 2019
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover represents the value of properties sold and of management and consultancy fees receivable.
|
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
|
|
|
2 |
Employees |
2019 |
|
2018 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
Investments in |
subsidiary |
associate |
undertakings |
undertakings |
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2018 |
185 |
|
8 |
|
193 |
|
Additions |
9 |
|
- |
|
9 |
|
|
At 31 March 2019 |
194 |
|
8 |
|
202 |
|
|
4 |
Debtors |
2019 |
|
2018 |
£ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
130,709 |
|
68,102 |
|
Other debtors |
241,386 |
|
177,893 |
|
|
|
|
|
|
372,095 |
|
245,995 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
£ |
£ |
|
|
Taxation and social security costs |
511 |
|
255 |
|
Other creditors |
748,008 |
|
22,039 |
|
|
|
|
|
|
748,519 |
|
22,294 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
|
|
No one person holds a controlling interest in the company.
|
|
|
7 |
Other information |
|
|
TheSet Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
190 High Street |
|
Stratford |
|
London |
|
E15 2NE |