Westside Enterprises Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09788485 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Westside Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J Adams

G F Kimpton

SECRETARY:

Mrs J M Adams

REGISTERED OFFICE:

Airport House

Suite 43-45

Purley Way

Croydon

Surrey

CR0 0XZ

REGISTERED NUMBER:

09788485 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

FIXED ASSETS

Tangible assets

4

490

552

CURRENT ASSETS

Debtors

5

172,275

102,118

Cash at bank

8,681

3,856

180,956

105,974

CREDITORS

Amounts falling due within one year

6

(111,661

)

(77,879

)

NET CURRENT ASSETS

69,295

28,095

TOTAL ASSETS LESS CURRENT LIABILITIES

69,785

28,647

PROVISIONS FOR LIABILITIES

(93

)

(105

)

NET ASSETS

69,692

28,542

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

69,592

28,442

69,692

28,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2020 and were signed on its behalf by:

L J Adams - Director

1.	STATUTORY INFORMATION

Westside Enterprises Ltd is a private company, limited by shares, registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The principal activity of the company continued to be that of sound recording and music publishing

royalties.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings -25% SLM

FINANCIAL INSTRUMENTS

he company only enters into basic financial transactions that result in recognition of financial assets and liabilities

such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and

investments in non-puttable ordinary shares.

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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

FOREIGN CURRENCIES

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at

the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in

foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains

and losses arising on translation are included in the profit and loss account for the period

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that

probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of

the obligation.

Provisions are charged as an expense to the statement of income in the year that the company becomes aware of the

obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the

obligation, taking into account relevant risk and uncetainities.

When payments are eventually made, they are charged to the provision carried in Balancesheet date.

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to

adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

1,031

Additions

229

At 31 March 2020

1,260

DEPRECIATION

At 1 April 2019

479

Charge for year

291

At 31 March 2020

770

NET BOOK VALUE

At 31 March 2020

490

At 31 March 2019

552

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

39,225

28,930

Other debtors

1,054

1,054

Amounts owned by connected co.

48

2,692

Directors' current accounts

17,941

-

VAT

7,208

18,031

Prepayments and accrued income

125

125

Accruals

106,674

51,286

172,275

102,118

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

336

1,391

Tax

19,561

12,605

Directors' current accounts

-

5,743

Accruals and deferred income

91,764

58,140

111,661

77,879

The directors consider the carrying amounts of current liabilities approximate to their fair values

7.	CHARGE OVER THE ASSETS OF COMPANY

Included in balance sheet in current asset are Coutts current a/c-1458167 and Coutts current a/c-2525976 (USD) that

hold a fixed and floating charge created on 12 December 2019 over all the assets of company. This charge has been

registered at companies house as well.

The balance at 31 March 2020 of Coutts current a/c-1458167 is £5,460 (2018 - £3,812) and Coutts current

a/c-2525976 (USD) is £3,221 (2018 - £44).

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date included in other debtors were amounts of £17,941 (2019: £5,743 included in other

creditors) due from the director.

Director George Frederick Kimpton is the sole shareholder in Burning Girl Productions Limited. During the year

Westside Enterprises Limited has made payment to Burning Girl Productions Limited of £279,150 (2019 -

£223,949) as Royalty.

The company is owed £48 (2019: £2,692) by a connected company Clearview International Ltd as at 31

March 2020.

9.	EVENTS AFTER THE REPORTING DATE

Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on

businesses worldwide. As a result some business operations have been restricted, however the company continues to

operate using alternative methods and remote working. The directors are unable to evaluate the overall financial

impact on the business at present. Hence financial statements do not include any adjustments that might result from

the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing

environment in order to position the company to ensure its future success.