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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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CREATIVE INDUSTRIES FEDERATION |
A COMPANY LIMITED BY GUARANTEE |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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CREATIVE INDUSTRIES FEDERATION |
A COMPANY LIMITED BY GUARANTEE |
CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CREATIVE INDUSTRIES FEDERATION |
A COMPANY LIMITED BY GUARANTEE |
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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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ACCOUNTANTS: |
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Suite 36 |
88-90 Hatton Garden |
London |
EC1N 8PN |
CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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BALANCE SHEET |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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RESERVES |
Retained earnings | ( |
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( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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BALANCE SHEET - continued |
31 March 2017 |
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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
by: |
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CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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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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Creative Industries Federation is a private company , registered in England and Wales. The company's registered |
number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced membership subscriptions, grant funding and founding contributions, excluding |
value added tax. |
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The Board's policy on revenue recognition is that membership income is recognised as accruing from the date |
that the invoice is paid and not from the date that the invoice is issued. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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Going concern |
At the balance sheet date the company had net liabilities of £111,754 (2016: £148,763) |
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According the Board is of the opinion that the company is trading as a going concern. |
CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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CREATIVE INDUSTRIES FEDERATION (REGISTERED NUMBER: 08793599) |
A COMPANY LIMITED BY GUARANTEE |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | SHARE CAPITAL |
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The company is limited by guarantee, with each member undertaking to contribute an amount not exceeding £1 |
in the event of the company being wound up. |
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9. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 Section 1a, from previously being prepared under the historical cost |
convention and in accordance with the Financial Reporting Standards for Smaller Entities (FRSSE), for the year |
ended 31 March 2017, with the date of transition therefore being 1 April 2016. |
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On transition, management have considered the effect of any changes in accounting treatment from UK GAAP to |
FRS 102 Section 1a for this company and have concluded that there are no material changes that warrant |
restatement of the comparative financials. |