Everyone Entertained Limited
Everyone Entertained Limited
Registered number: 10950861
Unaudited Financial Statements
For The Year Ended
31 March 2019
Everyone Entertained Limited
Unaudited Financial Statements
For The Year Ended
31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Everyone Entertained Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
10950861
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 March 2019 | 31 March 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET (LIABILITIES)/ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (451,037) | 68,756 | |||
Page 1
Everyone Entertained Limited
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Everyone Entertained Limited
Notes to the Financial Statements
For The Year Ended
31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have prepared the accounts on the going concern basis as the company has access to sufficient funds to continue in operation for at least the next twelve months.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets comprise assets in the course of construction and computer equipment stated at cost. Assets in the course of construction are not depreciated until they are available for use. Computer equipment is depreciated over 5 years on the straight-line basis.
1.4.
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial lnstruments'and Section
12 'Other Financial lnstruments lssues' of FRS 1 02 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the
instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include other 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.
Classification of financial Iiabilities
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
Basic fìnancial liabilities, including trade and other creditors, are initially recognised at transaction price and subsequently measured at amortised cost.
1.5.
Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax
assets are recognised when tax paid exceeds the tax payable.
Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.
1.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2018: 2)
Page 3
Everyone Entertained Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2019
3.
Tangible Assets
| Land & Property | |||
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| Assets under construction | Computer Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Debtors
| 31 March 2019 | 31 March 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 31 March 2019 | 31 March 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to related parties |
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Page 4
Everyone Entertained Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2019
6.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2019 | 31 March 2018 | ||
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| £ | £ | ||
| Loans |
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The loans represent advances from investors to be converted into ordinary shares of the company and are unsecured and interest-free.
8.
Post Balance Sheet Events
Subsequent to the balance sheet date, on 28 June 2019, there was a subdivision of shares from 400 ordinary shares of £1 each into 40,000 ordinary shares of £0.01 each. On 23 July 2020, a charge was created over the assets of the company in favour of Holmes Investment Properties PLC in connection with the provision of loan facilities.
9.
Related Party Transactions
During the year, the company paid management fees of £50,000 to a shareholder of the company and other fees of £1,845 to a company having common directors.
10.
General Information
Everyone Entertained Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10950861
. The registered office is Beverley Park Golf Range Wyvern Estate, Beverley Way, New Malden, KT3 4PH.
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