Immerse Live Limited - Period Ending 2017-10-31
Immerse Live Limited - Period Ending 2017-10-31
Registration number:
Immerse Live Limited
for the Year Ended 31 October 2017
Immerse Live Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Immerse Live Limited
Company Information
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Directors |
Mr P Barney Mr LT Moore Mr C Stokes |
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Company secretary |
Mr C Stokes |
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Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Immerse Live Limited
for the Year Ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Immerse Live Limited for the year ended 31 October 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
It is your duty to ensure that Immerse Live Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Immerse Live Limited. You consider that Immerse Live Limited is exempt from the statutory audit requirement for the year.
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Chartered Tax Advisers
Sutton Coldfield
West Midlands
B73 5HW
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Page 2 |
Immerse Live Limited
(Registration number: 08242268)
Balance Sheet as at 31 October 2017
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Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Page 3 |
Immerse Live Limited
(Registration number: 08242268)
Balance Sheet as at 31 October 2017
Approved and authorised by the
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Director
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Director
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Company secretary and director
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Page 4 |
Immerse Live Limited
Notes to the Financial Statements for the Year Ended 31 October 2017
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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Page 5 |
Immerse Live Limited
Notes to the Financial Statements for the Year Ended 31 October 2017
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Computer equipment |
3 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
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Page 6 |
Immerse Live Limited
Notes to the Financial Statements for the Year Ended 31 October 2017
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Tangible assets |
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Plant and machinery etc. |
Total |
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Cost or valuation |
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At 1 November 2016 |
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Additions |
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At 31 October 2017 |
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Depreciation |
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At 1 November 2016 |
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Charge for the year |
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At 31 October 2017 |
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Carrying amount |
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At 31 October 2017 |
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At 31 October 2016 |
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Debtors |
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2017 |
2016 |
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Trade debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2017 |
2016 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Page 7 |