Now Marketing Ltd
Unaudited Financial Statements
For the Period ended 31 December 2021
For Filing with Registrar
Company Registration No. 13347280 (England and Wales)
Now Marketing Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Now Marketing Ltd
Balance Sheet
As at 31 December 2021
Page 1
2021
Notes
£
£
Fixed assets
Investments
3
988,315
Current assets
Debtors
4
1
Creditors: amounts falling due within one year
5
(382,441)
Net current liabilities
(382,440)
Total assets less current liabilities
605,875
Creditors: amounts falling due after more than one year
6
(244,300)
Net assets
361,575
Capital and reserves
Called up share capital
7
50,799
Profit and loss reserves
310,776
Total equity
361,575

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 16 August 2022
J Townshend
Director
Company Registration No. 13347280
Now Marketing Ltd
Notes to the Financial Statements
For the period ended 31 December 2021
Page 2
1
Accounting policies
Company information

Now Marketing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Exmouth House, 3/11 Pine Street, London, United Kingdom, EC1R 0JH.

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 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
Reporting period

The financial statements cover the 8 month and 11 day period from incorporation to the first statutory year end of 31 December 2021. A December year end has been chosen as a sensible cut off date for operations to match other companies in the group.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has only basic financial instruments at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Now Marketing Ltd
Notes to the Financial Statements (Continued)
For the period ended 31 December 2021
1
Accounting policies
(Continued)
Page 3
1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2021
Number
Total
1
3
Fixed asset investments
2021
£
Shares in group undertakings and participating interests
988,315
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 20 April 2021
-
Additions
988,315
At 31 December 2021
988,315
Carrying amount
At 31 December 2021
988,315

During the year the company purchased 110,000 Ordinary A shares in Now Advertising Limited for cash consideration of £300,000 and loan notes of £319,300, 61,201 Ordinary A shares in Now Advertising Limited for cash consideration of £318,217, 48,799 Ordinary A shares in Now Advertising Limited as a share for share exchange for 48,798 Ordinary A shares in Now Marketing Limited and 2,000 NVD shares in Now Advertising Limited as a share for share exchange for 2,000 NVD shares in Now Marketing Limited. All shares have a par value of £1 each.

Now Marketing Ltd
Notes to the Financial Statements (Continued)
For the period ended 31 December 2021
Page 4
4
Debtors
2021
Amounts falling due within one year:
£
Other debtors
1
5
Creditors: amounts falling due within one year
2021
£
Amounts owed to group undertakings
307,441
Other creditors
75,000
382,441
6
Creditors: amounts falling due after more than one year
2021
£
Other creditors
244,300
7
Called up share capital
2021
2021
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
48,799
48,799
NVD shares of £1 each
2,000
2,000
50,799
50,799

On incorporation the company issued 1 Ordinary A share at par.

 

During the year the company purchased shares in a subsidiary company in exchange for 48,798 Ordinary A shares and 2,000 NVD shares. Full details of the purchase of shares can be seen in note 3.

8
Related party transactions

Now Marketing Limited has taken the exemption to disclose related party transactions under the same 100% control in accordance with FRS102 - Section 33 "Related Party Disclosures".

 

At the year end, there is a balance of £1 owed from J Townshend, a director of the company.

9
Parent company

The ultimate controlling party is J Townshend by virtue of his majority shareholding in the company.

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