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BLAS FESTIVAL LTD |
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Audited Financial Statements for the Year Ended 31 March 2019 |
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REGISTERED NUMBER:
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BLAS FESTIVAL LTD |
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Audited Financial Statements for the Year Ended 31 March 2019 |
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BLAS FESTIVAL LTD (REGISTERED NUMBER: SC308889) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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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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BLAS FESTIVAL LTD |
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Company Information |
for the Year Ended 31 March 2019 |
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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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AUDITORS: |
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Chartered Accountants |
& Statutory Auditors |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
BLAS FESTIVAL LTD (REGISTERED NUMBER: SC308889) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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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 Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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BLAS FESTIVAL LTD (REGISTERED NUMBER: SC308889) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Blas Festival Ltd is a
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number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The presentation currency of the accounts is Pound sterling (£). |
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The accounts are rounded to the nearest £1 |
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The accounts have been prepared on a going concern basis. The directors are of the opinion that this is the |
appropriate treatment because of the ongoing support from the parent company, Fèisean nan Gàidheal. |
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Preparation of consolidated financial statements |
Individual accounts are prepared for both Fèisean nan Gàidheal and Blas Festival Ltd. These are filed at the |
Registrar of Companies. Both the consolidated accounts and the individual accounts for are Fèisean nan |
Gàidheal filed at Office of the Scottish Charity Regulator in order to comply with Regulations 6 and 8 of the |
Charities Accounts (Scotland) Regulations 2006. |
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Turnover |
Turnover represents box office income, excluding VAT, together with grant income received in support of the |
annual Blas Festival, which is accounted for as it falls due. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
BLAS FESTIVAL LTD (REGISTERED NUMBER: SC308889) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Debtors and creditors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. |
Prepayments are valued at the amount prepaid net of any trade discounts due. |
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Creditors and provisions are recognised where the company has a present obligation resulting from a past event |
that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be |
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after |
allowing for any trade discounts due. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Amounts owed by group undertakings |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Amounts owed to group undertakings |
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VAT | 42 | 572 |
Other creditors |
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Accrued expenses |
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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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During the year Blas Festival Ltd paid management and administration charges to Fèisean nan Gàidheal of |
£15,000 (2018 - £15,000). |
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At the year end no gift aid donation (2018 - £1,579) is due by Blas Festival Ltd to Fèisean nan Gàidheal. |
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At the year-end date Fèisean Nan Gàidheal owed Blas Festival Ltd £2,657 (2018 - Blas Festival owed Fèisean |
Nan Gàidheal £1,558). There are no repayment terms in place and interest is not charged on the balance. |
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8. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
BLAS FESTIVAL LTD (REGISTERED NUMBER: SC308889) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Fèisean nan Gàidheal, a charitable company, limited by guarantee. |
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Registered Company Number: SC130071 |
Registered Charity Number; SC002040 |
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Registered Office Address: |
Meall House |
Portree |
Isle of Skye |
IV51 9BZ |