Fiery Angel Limited is a private company limited by shares incorporated in England and Wales. The registered office is National House, 60-66 Wardour Street, London, W1F 0TA.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements , including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group . T he company has therefore taken advantage of e xemptions from the following disclosure requirements:
Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ : Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income ;
Section 33 ‘Related Party Disclosures’ : Compensation for key management personnel .
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 .
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the year was 13 (2018: 13).
E G C Snape
Company director
During the year, E G C Snape received payments of £211,290 (2018: £230,000), in respect of loan repayments and dividends payments. As at the balance sheet date, the company owed E G C Snape £2,169 (2018: £198,413). Interest was not payable on the balance held at the balance sheet date.
M Eardley
Company director
During the year, M Eardley received payments of £382,625 (2018: £230,723), in respect of loan repayments and dividends payments. As at the balance sheet date, the company owed M Eardley £Nil (2018: £295,990). Interest was not payable on the balance held at the balance sheet date
J R Bath
Company director
During the year, J R Bath received payments of £120,645 (2018:£157,888 ), in respect of loan repayments and dividends payments. As at the balance sheet date, the company owed J R Bath -£610 (2018: £70,035). Interest was not payable on the balance held at the balance sheet date
Fiery Dragons Ltd
E G C Snape is a company director and shareholder of Fiery Dragons Ltd.
During the year, Fiery Dragons Ltd advanced £117,500 (2018: £50,000) to the company. The company invoiced Fiery Dragons Ltd £24,490 (2018: £19,495) for recharges incurred in the year. and paid £3,041 (2018: £3,007) in respect of royalty payments. As at the balance sheet date, the company owed Fiery Dragons Ltd £14,713 (2018: £46,538).
Edward Snape Ltd
A company in which E G C Snape and M Eardley are joint directors and shareholders.
As at the balance sheet date, the company owed Edward Snape Ltd £275,409 (2018: £275,409).
Fierylight 2010 Ltd
E G C Snape is the company director and holds significant influence over Fierylight 2010 Ltd.
During the year, the company advanced £Nil (2018: £Nil) to Fierylight 2010 Ltd. The company invoiced Fierylight 2010 Ltd £145,563 (2018: £489,355) during the year, in respect of disbursements and management fees. As at the balance sheet date, Fierylight 2010 Ltd owed the company £51,598 (2018: £158,119).
Fiery Development Ltd
E G C Snape is the company director and holds significant influence over Fiery Development Ltd.
During the year, the company advanced £Nil (2018: £50,000) to Fiery Development Ltd. The company invoiced Fiery Development Ltd £66,216 (2018: £102,478) during the year, in respect of recharges and disbursements. As at the balance sheet date, Fiery Development Ltd owed the company £101,494 (2018: £5,600).
Fiery Angel Entertainment Ltd Formerly S&G Concepts and Events Limited
E G C Snape is a company director and holds significant influence over Fiery Angel Entertainment Ltd.
During the year, the company advanced £Nil (2018: £90,000) to Fiery Angel Entertainment Ltd. The company invoiced Fiery Angel Entertainment Ltd £201,335 (2018: £159,231) in respect of recharges and disbursements. As at the balance sheet date, Fiery Angel Entertainment Ltd owed the company £133,408 (2018: £107,015). Interest of £1,527 in respect of the loan balance has been charged in the year.
Fiery Light Kingdom Ltd
E G C Snape is a company director and a shareholder of Fiery Light Kingdom Ltd.
During the year, the company advanced £50,000 (2018: £Nil) to Fiery Light Kingdom Ltd. The company invoiced Fiery Light Kingdom Ltd £40,088 (2018: £107,802) in respect of support fees and profit splits. As at the balance sheet date, Fiery Light Kingdom Ltd owed the company £27,237 (2018: £Nil).
Ultimate control of the company is shared between E G C Snape and Ms M Eardley by virtue of their shareholdings in Fiery Angel Limited.