REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
Sponsorcraft Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
Sponsorcraft Limited |
Sponsorcraft Limited (Registered number: 07699834) |
Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Sponsorcraft Limited |
Company Information |
for the Year Ended 30 April 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
26 Rofant Road |
Northwood |
Middlesex |
HA6 3BE |
Sponsorcraft Limited (Registered number: 07699834) |
Balance Sheet |
30 April 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Sponsorcraft Limited (Registered number: 07699834) |
Balance Sheet - continued |
30 April 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Sponsorcraft Limited (Registered number: 07699834) |
Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
1. | STATUTORY INFORMATION |
Sponsorcraft Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over estimated useful life. |
Improvements to property 6 years straight line |
Furniture & Fixture 25% straight line |
Computer equipment 25% straight line |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Sponsorcraft Limited (Registered number: 07699834) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
AMORTISATION |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Intangible asset is the cost of the website domain name (www.hubbub.net), which has been amortised over 5 years. |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2021 |
Additions |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Sponsorcraft Limited (Registered number: 07699834) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
Investments relates to 100% share ownership of Hubbub Inc , incorporated in United States of America, of 1,000 shares with a nominal value of USD$0.001 for a total consideration of USD$10 (i.e GBP £8). The company's registered address is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Included within other debtors is an R&D tax credit refund of £101,087 (2021: £88,506). |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors is deferred income of £419,202 (2021: £477,214). |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Other creditors |
Included within other creditors more than one year is a bank loan, bearing interest at 2.5% and is repayable by 2030. |
Sponsorcraft Limited (Registered number: 07699834) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.4.22 | 30.4.21 |
£ | £ |
Within one year |
Between one and five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.22 | 30.4.21 |
value: | £ | £ |
Preference A | 0.000001 | 120 | 120 |
Ordinary A | 0.000001 | 634 | 602 |
Ordinary B | 0.000001 | 8 | 8 |
762 | 730 |
The Preference A shares are cumulative. |
During the year, the following fully paid shares were allotted at a premium as shown below: |
31,818,176 Ordinary A shares of £0.000001 each at a premium of £0.004399 per share. |
12. | RELATED PARTY DISCLOSURES |
Included within creditors are loans from Directors of £43,512 (2021: £36,128). These loans are unsecured, charging interest at 0.8% per month and repayable on demand. |
Included within creditors are loans from Directors of £41,564 (2021: £24,512). These loans charge interest at 1% per month with principal and interest repayable not before 30 April 2023. |