Company Registration No. 05656739 (England and Wales)
FUNTASIA ENTERTAINMENT LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
FUNTASIA ENTERTAINMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
FUNTASIA ENTERTAINMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
105,158
110,549
Current assets
Cash at bank and in hand
27,437
18,703
Creditors: amounts falling due within one year
(38,574)
(35,226)
Net current liabilities
(11,137)
(16,523)
Total assets less current liabilities
94,021
94,026
Creditors: amounts falling due after more than one year
(63,753)
(35,300)
Provisions for liabilities
(20,764)
(21,832)
9,504
36,894
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
9,502
36,892
Shareholders' funds
9,504
36,894
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 June 2016
R S Lee
Director
Company Registration No. 05656739
FUNTASIA ENTERTAINMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
The directors are pleased with the strong growth in both turnover and profitability. Dividends have been declared during this period, which are in excess of post tax profits, hence the reduction in shareholders' funds on the Balance Sheet.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
4% reducing balance
Plant and machinery
25% straight line
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
FUNTASIA ENTERTAINMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
203,745
Additions
31,330
At 31 December 2015
235,075
Depreciation
At 1 January 2015
93,196
Charge for the year
36,721
At 31 December 2015
129,917
Net book value
At 31 December 2015
105,158
At 31 December 2014
110,549
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary A of £1 each
2
2