REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2020 |
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for |
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Cultural Industries Quarter Agency |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2020 |
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for |
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Cultural Industries Quarter Agency |
Cultural Industries Quarter Agency (Registered number: 03815552) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Cultural Industries Quarter Agency |
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Company Information |
for the Year Ended 30 June 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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CFC House |
Acorn Business Park |
Woodseats Close |
Sheffield |
South Yorkshire |
S8 0TB |
Cultural Industries Quarter Agency (Registered number: 03815552) |
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Balance Sheet |
30 June 2020 |
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30.6.20 | 30.6.19 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Retained earnings | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Cultural Industries Quarter Agency (Registered number: 03815552) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
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1. | STATUTORY INFORMATION |
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Cultural Industries Quarter Agency is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Income |
Grants for capital expenditure are credited to a deferred income account from which amounts are released to revenue over the expected useful life of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income in the year to which they relate. |
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Funding income receivable, which is not in the form of grants, is credited to income in the year to which it relates. This is usually by reference to a particular project for which the income is to be used as funding. |
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Rental income is credited to income net of VAT in the year that the rents fall due. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Cultural Industries Quarter Agency (Registered number: 03815552) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company contributes to personal pension plans for its employees. Contributions payable are charged to the income and expenditure account in the year they are payable. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 July 2019 |
and 30 June 2020 |
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AMORTISATION |
At 1 July 2019 |
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Charge for year |
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At 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2019 |
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Additions |
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At 30 June 2020 |
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DEPRECIATION |
At 1 July 2019 |
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Charge for year |
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At 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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Cultural Industries Quarter Agency (Registered number: 03815552) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 16,963 | 16,465 |
Other creditors |
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Accrued expenses & prepaid |
income |
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8. | PENSION COSTS |
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The company contributes to the personal pension plans for certain staff. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the plans and amounted to £6,310 (2019: £3,693). Contributions totalling £972 (2019: £4,706) were owing to the plans at the year end and this is included in other creditors. |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are the board of directors by virtue that there is no share capital in the company. |