| Company Information |
||
|---|---|---|
| Report ofthe Directors | ||
| Income Statement | ||
| Balance Sheet | ||
| Statement of Changes |
in Equity | |
| Notes to the Financial | Statements | |
| Chartered Accountants' |
Report | |
| Detailed Income and Expenditure |
Accounts |
| Income Statement for the Year Ended |
31 May 2021 | |||
|---|---|---|---|---|
| 318.21 | 315.20 | |||
| Notes | ||||
| TURNOVER | 4,602 | I5,040 | ||
| Cost of sales | (749) | (8,301 ) | ||
| GROSS SURPLUS | 3,853 | 6,739 | ||
| Administrative expenses |
(8,304) | (6vt28) | ||
| (4,451 ) | 311 | |||
| Other operating income |
4,000 | |||
| OPERATING (DEFICIT)/SURPLUS and |
||||
| (DEFICIT)/SURPLUS | BEFORE TAXATION | (451) | 311 | |
| Tax on (degcit)/surplus | ||||
| (DEFICIT)/SURPLUS | FOR THE FINANCIAL | |||
| YEAR | (451 ) | 311 |
| Balance Sheet 31 May 2021 |
|||||
|---|---|---|---|---|---|
| 31$.21 | 310.20 | ||||
| Notes | |||||
| FIXED ASSETS | |||||
| Intangible assets |
6 | ||||
| Tangible assets |
7 | 132 | 176 | ||
| 132 | 176 | ||||
| CURRENT ASSETS | |||||
| Cash at bank | 24,792 | 7,279 | |||
| CREDITORS | |||||
| Amounts falling |
due within one year | (28,429) | (10409) | ||
| NET CURRENT LIABILITIES | (3,637) | (3,230) | |||
| TOTAL ASSETS | LESSCURRENT LIABILITIES | (3405) | (3,054) | ||
| RESERVES | |||||
| Income and expenditure | account | (3405) | (3,054) | ||
| (3405) | (3,054) |
| Retained | Total | ||||
|---|---|---|---|---|---|
| earnings | equity | ||||
| Balance | at | I June | 2019 | (3,365) | (3,365) |
| Changes | in | equity | |||
| Total comprehensive | income | 311 | 311 | ||
| Balance | at | 31 May | 2020 | (3,054) | (3,054) |
| Changesin | equity | ||||
| Total comprehensive | income | (451) | (451 ) | ||
| Balance | at | 31 May | 2021 | (3405) | (3405) |
| The operc | mng | defic | it | (2020 - operating surplus) is stated aft |
er charging: | |
|---|---|---|---|---|---|---|
| 31$.21 | 31$.20 | |||||
| Depreciation | - owned | assets | 44 | 59 | ||
| Computer | software | amortisation | 350 |
| 6. | INTANGIBLE FIXED ASS | ETS | ||
|---|---|---|---|---|
| Computer | ||||
| software | ||||
| COST | ||||
| At I June 2020 | ||||
| and 31 May 2021 | 1,050 | |||
| AMORTISATION | ||||
| At I June 2020 | ||||
| and 31 May 2021 | 1,050 | |||
| NET BOOK VALUE | ||||
| At 31 May 2021 | ||||
| At 31 May 2020 | ||||
| TANGIBLE FIXED ASSETS | ||||
| OfRce | ||||
| equipment | ||||
| F. | ||||
| COST | ||||
| At I June 2020 | ||||
| and 31 May 2021 | 861 | |||
| DEPRECIATION | ||||
| At I June 2020 | 685 | |||
| Charge for year | 44 | |||
| At 31 May 2021 | 729 | |||
| NET BOOK VALUE | ||||
| At 31 May 2021 | 132 | |||
| At 31 May 2020 | 176 | |||
| 8. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 31$.21 | 31.5.20 | |||
| Other creditors | 28,429 | 10409 |
| Incubation Arts Limited Detailed Income and Expenditure Account for the Year Ended 31 May 2021 |
||||
|---|---|---|---|---|
| 315.21 | 318.20 | |||
| Sales | 903 | 12,291 | ||
| Cost ofsales | ||||
| Artist fees paid | 749 | 8,301 | ||
| GROSS SURPLUS | 154 | 3,990 | ||
| Other income | ||||
| Sundry receipts |
4,000 | |||
| 4,154 | 3,990 | |||
| Expenditure | ||||
| Rent | 2,730 | 2,299 | ||
| Rates and water | 170 | 160 | ||
| Light and heat | 80 | 941 | ||
| Printing, postage and stationery | 57 | 50 | ||
| Repairs and renewals | 34 | 243 | ||
| Computer costs |
654 | 601 | ||
| Sundry expenses | 296 | 209 | ||
| Accountancy | 540 | 5 | ||
| 4461 | 4408 | |||
| (407) | (518) | |||
| Depreciation | ||||
| Computer software |
350 | |||
| Office equipment | 59 | |||
| 409 | ||||
| NET DEFICIT | (451) | (927) |
| Detailed Income and Expenditure Accou for the Year Ended 31 May 2021 |
nt | |||
|---|---|---|---|---|
| 31$.21 | 31$.20 | |||
| Turnover | ||||
| Donations | 3,699 | 2749 | ||
| Expenditure | ||||
| Rent | 229 | 688 | ||
| Travelling | 3,337 | |||
| Sundry expenses | 13 | |||
| Accountancy | 61 | 756 | ||
| 3,627 | 1,457 | |||
| 72 | 1,292 | |||
| Finance costs | ||||
| Bank charges | 72 | 54 | ||
| NET SURPLUS | 1,238 |