Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity1554truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 5312072 2021-01-01 2021-12-31 5312072 2020-01-01 2020-12-31 5312072 2021-12-31 5312072 2020-12-31 5312072 2020-01-01 5312072 c:Director1 2021-01-01 2021-12-31 5312072 d:Buildings d:LongLeaseholdAssets 2021-01-01 2021-12-31 5312072 d:Buildings d:LongLeaseholdAssets 2021-12-31 5312072 d:Buildings d:LongLeaseholdAssets 2020-12-31 5312072 d:PlantMachinery 2021-01-01 2021-12-31 5312072 d:OfficeEquipment 2021-01-01 2021-12-31 5312072 d:OfficeEquipment 2021-12-31 5312072 d:OfficeEquipment 2020-12-31 5312072 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 5312072 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 5312072 d:CurrentFinancialInstruments 2021-12-31 5312072 d:CurrentFinancialInstruments 2020-12-31 5312072 d:Non-currentFinancialInstruments 2021-12-31 5312072 d:Non-currentFinancialInstruments 2020-12-31 5312072 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 5312072 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 5312072 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 5312072 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 5312072 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 5312072 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 5312072 d:ShareCapital 2021-12-31 5312072 d:ShareCapital 2020-12-31 5312072 d:ShareCapital 2020-01-01 5312072 d:CapitalRedemptionReserve 2021-01-01 2021-12-31 5312072 d:CapitalRedemptionReserve 2021-12-31 5312072 d:CapitalRedemptionReserve 2020-12-31 5312072 d:CapitalRedemptionReserve 2020-01-01 5312072 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 5312072 d:RetainedEarningsAccumulatedLosses 2021-12-31 5312072 d:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 5312072 d:RetainedEarningsAccumulatedLosses 2020-12-31 5312072 d:RetainedEarningsAccumulatedLosses 2020-01-01 5312072 c:OrdinaryShareClass1 2021-01-01 2021-12-31 5312072 c:OrdinaryShareClass1 2021-12-31 5312072 c:OrdinaryShareClass1 2020-12-31 5312072 c:FRS102 2021-01-01 2021-12-31 5312072 c:IndependentExaminationCharity 2021-01-01 2021-12-31 5312072 c:FullAccounts 2021-01-01 2021-12-31 5312072 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 5312072 d:WithinOneYear 2021-12-31 5312072 d:WithinOneYear 2020-12-31 5312072 d:BetweenOneFiveYears 2021-12-31 5312072 d:BetweenOneFiveYears 2020-12-31 5312072 2 2021-01-01 2021-12-31 5312072 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 5312072 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 5312072 d:TaxLossesCarry-forwardsDeferredTax 2021-12-31 5312072 d:TaxLossesCarry-forwardsDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 5312072










SENSE MARKETING SERVICES LIMITED










DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
SENSE MARKETING SERVICES LIMITED
REGISTERED NUMBER:5312072

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,731
29,684

  
9,731
29,684

Current assets
  

Debtors: amounts falling due within one year
 5 
1,373,326
1,299,675

Cash at bank and in hand
 6 
1,632,323
1,717,848

  
3,005,649
3,017,523

Creditors: amounts falling due within one year
 7 
(884,691)
(930,377)

Net current assets
  
 
 
2,120,958
 
 
2,087,146

Total assets less current liabilities
  
2,130,689
2,116,830

Creditors: amounts falling due after more than one year
 8 
(350,000)
(350,000)

Provisions for liabilities
  

Deferred tax
 10 
-
(1,943)

  
 
 
-
 
 
(1,943)

Net assets
  
1,780,689
1,764,887


Capital and reserves
  

Called up share capital 
 11 
920
920

Capital redemption reserve
 12 
80
80

Profit and loss account
 12 
1,779,689
1,763,887

  
1,780,689
1,764,887


Page 1

 
SENSE MARKETING SERVICES LIMITED
REGISTERED NUMBER:5312072
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr N A V Adams
Director

Date: 6 September 2022

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
SENSE MARKETING SERVICES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2020
920
80
2,173,463
2,174,463


Comprehensive income for the year

Loss for the year
-
-
(409,576)
(409,576)



At 1 January 2021
920
80
1,763,887
1,764,887


Comprehensive income for the year

Profit for the year
-
-
15,802
15,802


At 31 December 2021
920
80
1,779,689
1,780,689


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Sense Marketing Services Limited is a private company, limited by shares, registered in England and Wales. Its registered address is 10 Queen Street Place, London, EC4R 1AG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In light of the impact of the COIVD 19 virus, the Company has reviewed its cash flow forecasts and considered the impact on going concern, concluding that the going concern basis remains an appropriate basis of preparation for these financial statements given the likely cash flow impact of operations 12 months from the date of signing this report.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

  
2.4

Government Grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current year tax only. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold improvements
-
over the length of the lease
Plant and machinery
-
25% reducing balance or 33% straight line

Page 5

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2020 - 54).

Page 6

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2021
39,418
381,109
420,527


Disposals
(39,418)
-
(39,418)



At 31 December 2021

-
381,109
381,109



Depreciation


At 1 January 2021
39,418
351,425
390,843


Charge for the year on owned assets
-
19,953
19,953


Disposals
(39,418)
-
(39,418)



At 31 December 2021

-
371,378
371,378



Net book value



At 31 December 2021
-
9,731
9,731



At 31 December 2020
-
29,684
29,684


5.


Debtors

2021
2020
£
£


Trade debtors
463,288
241,089

Amounts owed by group undertakings
144,309
144,309

Other debtors
641,495
747,144

Prepayments and accrued income
37,298
76,183

Tax recoverable
85,207
90,950

Deferred taxation
1,729
-

1,373,326
1,299,675


Page 7

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
1,632,323
1,717,848

1,632,323
1,717,848



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
189,333
163,413

Amounts owed to group undertakings
500,000
500,000

Other taxation and social security
146,920
220,704

Other creditors
3,638
3,285

Accruals and deferred income
44,800
42,975

884,691
930,377



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
350,000
350,000

350,000
350,000


Page 8

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£




Amounts falling due after more than 5 years

Bank loans
350,000
350,000

350,000
350,000

350,000
350,000


The bank loan of £350,000 is provided by Barclays Bank plc under the Government's Coronavirus Business Interruption Loan Scheme. The loan is interest free until 16 December 2021, after which point it will accrue interest at a rate of 3.3% p.a. The loan is repayable on 16 December 2026. The loan is secured by a fixed and floating charge over the assets of the Company.


10.


Deferred taxation




2021
2020


£

£






At beginning of year
(1,943)
7,679


Charged to profit or loss
3,672
(9,622)



At end of year
1,729
(1,943)

The deferred taxation balance is made up as follows:

2021
2020
£
£


Fixed asset timing differences
1,545
(2,344)

Short term timing differences
184
401

1,729
(1,943)

Page 9

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



920 (2020 - 920) Ordinary shares of £1.00 each
920
920



12.


Reserves

Capital redemption reserve

The captial redemption reserve is a non-distributable reserve which represents paid up share capital. 

Profit and loss account

Profit and loss account includes all curent and prior period retained profits and losses. 


13.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
127,735
118,670

Later than 1 year and not later than 5 years
-
237,451

127,735
356,121

The company incurred rental expenses of £12,535 (2020: £118,670) in the year.


14.


Related party transactions

At the balance sheet date, the company was owed £144,309 (2020: £144,309) by Event Warehousing and Logistics Limited, a fellow subsidiary.

The company was owed £219,786 (2020: £207,084) by Sense New York Inc. The company was owed £nil (2020: £nil) by Sense Hong Kong, the 2019 balance having been written off during the year. These balances are denominated in US Dollars and Hong Kong Dollars respectively, and have been translated into GBP using market exchange rates as at the balance sheet date.

The company owed £500,000 (2020: £500,000) to Sense Holding Group Limited, its ultimate parent company, and £1,175 (2020: £1,175) to Mr K R Twittey, a group shareholder.

The above balances are interest free and are repayable on demand.

Page 10

 
SENSE MARKETING SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

15.


Controlling party

The ultimate parent company is Sense Holding Group Limited, a company registered in England and Wales. 
The ultimate controlling party is Mr N A V Adams, a director of the company


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 6 September 2022 by  (Senior Statutory Auditor) on behalf of Haysmacintyre LLP.

 
Page 11