Company Registration No. 9788485 (England and Wales)
WESTSIDE ENTERPRISES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
WESTSIDE ENTERPRISES LTD
COMPANY INFORMATION
Directors
Mr L J Adams
Mr G F Kimpton
Secretary
Mrs J M Adams
Company number
9788485
Registered office
Airport House, Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ
Accountants
Ledger Sparks Ltd
Airport House
Suite 43-45 Purley Way
Croydon
Surrey
CR0 0XZ
WESTSIDE ENTERPRISES LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 5
WESTSIDE ENTERPRISES LTD
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
810
601
Current assets
Debtors
3
48,370
25,870
Cash at bank and in hand
1,028
3,420
49,398
29,290
Creditors: amounts falling due within one year
4
(54,390)
(68,582)
Net current liabilities
(4,992)
(39,292)
Total assets less current liabilities
(4,182)
(38,691)
Provisions for liabilities
(154)
(120)
Net liabilities
(4,336)
(38,811)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(4,436)
(38,911)
Total equity
(4,336)
(38,811)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The notes on pages 3 - 5 form an integral part of these financial statements.
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and FRS102 Section 1A.
WESTSIDE ENTERPRISES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 July 2018 and are signed on its behalf by:
Mr L J Adams
Director
Company Registration No. 9788485
WESTSIDE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Westside Enterprises Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Airport House, Suite 43-45, Purley Way, Croydon, Surrey, CR0 0XZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% SLM
WESTSIDE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
2
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2017
802
Additions
674
Transfers
(445)
At 31 March 2018
1,031
Depreciation and impairment
At 1 April 2017
201
Depreciation charged in the year
131
Transfers
(111)
At 31 March 2018
221
Carrying amount
At 31 March 2018
810
At 31 March 2017
601
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
18,597
5,116
Other debtors
8,285
5,999
Prepayments and accrued income
21,488
14,755
48,370
25,870
The directors consider the carrying value of trade and other receivables approximate to their fair value.
4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,800
8,681
Other creditors
35,840
47,081
Accruals and deferred income
15,750
12,820
54,390
68,582
The directors consider the carrying amounts of current liabilities approximate to their fair values.
WESTSIDE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 of £1 each
100
100
100
100
6
Related party transactions
As at the balance sheet date included in other creditors were amounts of £35,840 (2017: £47,081) due to the director.
Director George Frederick Kimpton is the sole shareholder in Burning Girl Productions Limited. During the year, Westside Enterprises Limited has received Royalty income of £7,767 (2017 - £2,700) from Burning Girl productions Limited and made payment of £57,785 (2017 - £23,213) as Royalty.
Further, as at the balance sheet date included in accruals & deferred income in creditors amount of £5,687 due to Burning Girl Productions Limited.
7
Controlling party
The ultimate controlling party is Mr Laurence Adams who is the majority shareholder of the issued share capital.
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