Fiery Angel Entertainment 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 . T he company has therefore taken advantage of e xemptions from the following disclosure requirements:
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’ : 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 26 ‘Share based Payment’ : Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements ;
Section 33 ‘Related Party Disclosures’ : Compensation for key management personnel .
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
The average number of employees during the year (including directors) was 3 (2018: 3)
Fiery Angel Limited
A shareholder with common directors.
As at the balance sheet date, the company owed Fiery Angel Limited £46,538 (2018: £44,791) in respect of loans advanced to the company. Interest amounting to £1,748 (2018 : £1,101) has been accrued for the year.
During the year, the company incurred costs of £169,831 (2018: £141,593) from Fiery Angel Limited, in respect of recharged costs and services provided. As at the balance sheet date, the company owed Fiery Angel Limited £13,723 (2018: £46,628) in respect of these costs.
Raymond Gubbay
A director of the company.
As at the balance sheet date, the company owed R J Gubbay £46,539 (2018: £44,791) in respect of loans advanced to the company. During the year, R J Gubbay loaned the company £Nil (2018: £25,000), and was repaid £Nil (2018: £12,120), with interest amounting to £1,748 (2018: £1,101) being accrued in the year.
During the year, the company incurred costs of £15,642 ( 2018: £7,230) from R J Gubbay, in respect of services provided. As at the balance sheet date, the company owed R J Gubbay £Nil (£6,603) in respect of these services.
Fiery Dragons Limited
Is a shareholder with common directors.
As at the balance sheet date, the company owed Fiery Dragons Limited £53,120 (2018: £51,124) in respect of loans advanced to the company. Interest amounting to £1,994 (2018: £1,256) has been accrued for the year.
Circus 1903 UK Limited
A company in which Fiery Angel Entertainment Limited is a shareholder and shares common directors.
As at the balance sheet date, the company was owed £375,000 (2018: £360,750) by Circus 1903 UK Limited, in respect of loans provided. During the year, the company provided monies to Circus 1903 UK Limited totalling £405,000 (2018: £360,750), and received monies totalling £390,750 (2018: £Nil).
During the year, the company invoiced Circus 1903 UK Limited amounts totalling £551,092 (2018: £15,274), in respect of recharges and profit shares. As at the balance sheet date, £4,418 (2018: £Nil) was owed to the company in respect of this.
Hairspray 2020 Limited
Shares common directors with the company
As at the balance sheet date, the company was owed £50,000 (2018: £Nil) from Hairspray 2020 Limited, in respect of loans provided during the year.