Company Registration No. 10896357 (England and Wales)
CRSMITH.EVENTMANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
CRSMITH.EVENTMANAGEMENT LTD
COMPANY INFORMATION
Director
Mr C R Smith
(Appointed 2 August 2017)
Company number
10896357
Registered office
36 Chalgrove Avenue
Birmingham
West Midlands
B38 8YP
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
161 High Street
Kings Heath
Birmingham
B14 7LA
CRSMITH.EVENTMANAGEMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
CRSMITH.EVENTMANAGEMENT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CRSMITH.EVENTMANAGEMENT LTD FOR THE PERIOD ENDED 31 AUGUST 2018
- 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 CRSmith.Eventmanagement Ltd for the period ended 31 August 2018 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of CRSmith.Eventmanagement Ltd, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CRSmith.Eventmanagement Ltd
and state those matters that we have agreed to state to the Board of Directors of CRSmith.Eventmanagement Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CRSmith.Eventmanagement Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that CRSmith.Eventmanagement Ltd 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 CRSmith.Eventmanagement Ltd. You consider that CRSmith.Eventmanagement Ltd is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of CRSmith.Eventmanagement Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
7 January 2019
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CRSMITH.EVENTMANAGEMENT LTD
BALANCE SHEET
AS AT 31 AUGUST 2018
31 August 2018
- 2 -
2018
Notes
£
£
Fixed assets
Tangible assets
3
236
Current assets
Debtors
4
8,683
Cash at bank and in hand
169
8,852
Creditors: amounts falling due within one year
5
(7,538)
Net current assets
1,314
Total assets less current liabilities
1,550
Provisions for liabilities
(45)
Net assets
1,505
Capital and reserves
Called up share capital
7
1
Profit and loss reserves
1,504
Total equity
1,505
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 period ended 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his 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 period 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 7 January 2019
Mr C R Smith
Director
Company Registration No. 10896357
CRSMITH.EVENTMANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
- 3 -
1
Accounting policies
Company information
CRSmith.Eventmanagement Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
36 Chalgrove Avenue, Birmingham, West Midlands, B38 8YP.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion
and
whe
re
the
amount of revenue can be measured reliably.
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
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
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.
CRSMITH.EVENTMANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2018
1
Accounting policies
(Continued)
- 4 -
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.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 1.
3
Tangible fixed assets
Plant and machinery
£
Cost
At 2 August 2017
-
Additions
278
At 31 August 2018
278
Depreciation and impairment
At 2 August 2017
-
Depreciation charged in the period
42
At 31 August 2018
42
Carrying amount
At 31 August 2018
236
4
Debtors
2018
Amounts falling due within one year:
£
Other debtors
8,683
CRSMITH.EVENTMANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2018
- 5 -
5
Creditors: amounts falling due within one year
2018
£
Trade creditors
67
Corporation tax
6,511
Other creditors
960
7,538
6
Provisions for liabilities
2018
£
Deferred tax liabilities
45
45
7
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan account
-
-
8,683
8,683
-
8,683
8,683
The director's loan account was repaid within nine months of the period end.
9
Ultimate controlling party
The ultimate controlling party is Mr C R Smith.
10
Comparatives
This is the company's first period of trade and therefore there are no comparatives
.