Company Registration No. 09698261 (England and Wales)
SISCO ENTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
PAGES FOR FILING WITH REGISTRAR
SISCO ENTERTAINMENT LIMITED
COMPANY INFORMATION
Directors
Mr S Garnham
Mr S Schofield
Company number
09698261
Registered office
1 Tiger Moth Way
Lower Stondon
Henlow
Bedfordshire
SG16 6GN
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
Ariel House
2138 Coventry Road
Sheldon
Birmingham
B26 3JW
SISCO ENTERTAINMENT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
SISCO ENTERTAINMENT LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SISCO ENTERTAINMENT LIMITED FOR THE YEAR ENDED 31 JULY 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SiSco Entertainment Limited for the year ended 31 July 2020 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that SiSco Entertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of SiSco Entertainment Limited. You consider that SiSco Entertainment Limited is exempt from the statutory audit
requirement for the year.
Theataccounts Limited
24 March 2021
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SISCO ENTERTAINMENT LIMITED
BALANCE SHEET
AS AT 31 JULY 2020
31 July 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,278
1,672
Current assets
Cash at bank and in hand
164,763
63,682
Creditors: amounts falling due within one year
4
(51,119)
(40,178)
Net current assets
113,644
23,504
Total assets less current liabilities
116,922
25,176
Creditors: amounts falling due after more than one year
5
(50,000)
-
Net assets
66,922
25,176
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
66,722
24,976
Total equity
66,922
25,176
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 by the board of directors and authorised for issue on 24 March 2021 and are signed on its behalf by:
Mr S Garnham
Director
Company Registration No. 09698261
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
- 3 -
1
Accounting policies
Company information
SiSco Entertainment Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1 Tiger Moth Way, Lower Stondon, Henlow, Bedfordshire, SG16 6GN.
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.
1.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax.
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:
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2019 - 2
).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2019
12,819
Additions
7,426
At 31 July 2020
20,245
Depreciation and impairment
At 1 August 2019
11,146
Depreciation charged in the year
5,821
At 31 July 2020
16,967
Carrying amount
At 31 July 2020
3,278
At 31 July 2019
1,672
4
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
68
-
Corporation tax
45,718
32,641
Other taxation and social security
552
5,311
Other creditors
4,781
2,226
51,119
40,178
5
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
50,000
-
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
- 5 -
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100 Ordianry B of £1 each
100
100
200
200