ACCOUNTS - Final Accounts preparation

SHINE ARTISTS LTD - Company Information

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Registered number: 07205640

SHINE ARTISTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2020

SHINE ARTISTS LIMITED

REGISTERED NUMBER: 07205640

BALANCE SHEET

AS AT 31 MAY 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	14,504		13,595
Cash at bank and in hand	5	1,366		7,397
		15,870		20,992
Creditors: amounts falling due within one year	6	(30,227)		(39,896)
Net current liabilities			(14,357)		(18,904)
Total assets less current liabilities			(14,357)		(18,904)

Net liabilities			(14,357)		(18,904)

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SHINE ARTISTS LIMITED

REGISTERED NUMBER: 07205640

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2020

	2020	2019
Note	£	£

Capital and reserves
Called up share capital	200	200
Profit and loss account	(14,557)	(19,104)
	(14,357)	(18,904)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2020.

................................................ D A Pontone	................................................ D M Pontone
Director	Director

The notes on pages 3 to 5 form part of these financial statements.

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SHINE ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

1.	General information

The company is a private company limited by shares and was incorporated on 29 March 2010 and is registered in England and Wales. Its registered office is 43 Cadogan Gardens, London, SW3 2TB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency is pounds sterling.

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.4

Debtors

Short term debtors are measured at transaction price less any impairment.

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SHINE ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

2.Accounting policies (continued)

2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

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SHINE ARTISTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

Debtors

					2020	2019
					£	£


Other debtors	14,504	13,595
	14,504	13,595

5.	Cash
		2020	2019
		£	£

	Cash at bank and in hand	1,366	7,397

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Other creditors	19,754	39,896
Accruals and deferred income	10,473	-
	30,227	39,896

7.	Going Concern

The directors have continued to provide financial support up to and beyond the date of these accounts and the directors consider that the going concern basis is appropriate for the preparation of the financial statements.

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