64 false false false false false false false false false true false false true false true true No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 10,000 5,250 500 5,750 4,250 4,750 174,366 60,487 234,853 114,836 30,004 144,840 90,013 59,530 xbrli:pure xbrli:shares iso4217:GBP 07291125 2021-01-01 2021-12-31 07291125 2021-12-31 07291125 2020-12-31 07291125 2020-01-01 2020-12-31 07291125 2020-12-31 07291125 core:PatentsTrademarksLicencesConcessionsSimilar 2021-01-01 2021-12-31 07291125 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 07291125 bus:OrdinaryShareClass2 2021-01-01 2021-12-31 07291125 bus:Director1 2021-01-01 2021-12-31 07291125 core:PatentsTrademarksLicencesConcessionsSimilar 2020-12-31 07291125 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 07291125 core:WithinOneYear 2021-12-31 07291125 core:WithinOneYear 2020-12-31 07291125 core:UKTax 2021-01-01 2021-12-31 07291125 core:UKTax 2020-01-01 2020-12-31 07291125 core:AfterOneYear 2021-12-31 07291125 core:AfterOneYear 2020-12-31 07291125 core:ShareCapital 2021-12-31 07291125 core:ShareCapital 2020-12-31 07291125 core:SharePremium 2021-12-31 07291125 core:SharePremium 2020-12-31 07291125 core:RetainedEarningsAccumulatedLosses 2021-12-31 07291125 core:RetainedEarningsAccumulatedLosses 2020-12-31 07291125 core:DeferredTaxation 2021-01-01 2021-12-31 07291125 core:PatentsTrademarksLicencesConcessionsSimilar 2020-12-31 07291125 core:DeferredTaxation 2020-12-31 07291125 core:DeferredTaxation 2021-12-31 07291125 bus:SmallEntities 2021-01-01 2021-12-31 07291125 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 07291125 bus:FullAccounts 2021-01-01 2021-12-31 07291125 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 07291125 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 07291125 bus:OrdinaryShareClass1 2021-12-31 07291125 bus:OrdinaryShareClass1 2020-12-31 07291125 bus:OrdinaryShareClass2 2021-12-31 07291125 bus:OrdinaryShareClass2 2020-12-31 07291125 bus:AllOrdinaryShares 2021-12-31 07291125 bus:AllOrdinaryShares 2020-12-31 07291125 core:OfficeEquipment 2021-01-01 2021-12-31 07291125 core:OfficeEquipment 2020-12-31 07291125 core:OfficeEquipment 2021-12-31 07291125 core:OtherProvisionsContingentLiabilities 2020-12-31 07291125 core:OtherProvisionsContingentLiabilities 2021-01-01 2021-12-31 07291125 core:OtherProvisionsContingentLiabilities 2021-12-31
COMPANY REGISTRATION NUMBER: 07291125
C M MONITOR (BRITAIN THINKS) LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
C M MONITOR (BRITAIN THINKS) LTD
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
FIXED ASSETS
Intangible assets
6
4,250
4,750
Tangible assets
7
90,013
59,530
----------
----------
94,263
64,280
CURRENT ASSETS
Stocks
8
608,151
381,023
Debtors: due within one year
9
1,337,401
1,448,413
Debtors: due after more than one year
9
113,640
112,515
Cash at bank and in hand
1,315,915
1,322,535
---------------
---------------
3,375,107
3,264,486
CREDITORS: amounts falling due within one year
10
2,062,365
1,874,826
---------------
---------------
NET CURRENT ASSETS
1,312,742
1,389,660
---------------
---------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,407,005
1,453,940
PROVISIONS
11
21,102
14,111
---------------
---------------
NET ASSETS
1,385,903
1,439,829
---------------
---------------
CAPITAL AND RESERVES
Called up share capital
12
1,162
1,162
Share premium account
11,040
11,040
Profit and loss account
1,373,701
1,427,627
---------------
---------------
SHAREHOLDERS FUNDS
1,385,903
1,439,829
---------------
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
C M MONITOR (BRITAIN THINKS) LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
For the year ending 31 December 2021 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 financial statements were approved by the board of directors and authorised for issue on 16 August 2022 , and are signed on behalf of the board by:
Ms V Cooke
Director
Company registration number: 07291125
C M MONITOR (BRITAIN THINKS) LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Metherell Gard, Morval, Looe, Cornwall, PL13 1PN.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
DISCLOSURE EXEMPTIONS
The company has taken advantage of the disclosure exemptions applicable for small entities under FRS 102 Section 1A.
FOREIGN CURRENCIES
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
OPERATING LEASES
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
INTANGIBLE ASSETS
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
AMORTISATION
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
STOCKS
Stocks are uninvoiced work in progress as at the year end and are valued at anticipated full sales value excluding VAT.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 64 (2020: 50 ).
5. TAX ON PROFIT
Major components of tax expense
2021
2020
£
£
Current tax:
UK current tax expense
298,484
367,493
Adjustments in respect of prior periods
( 18)
( 47)
-----------
-----------
Total current tax
298,466
367,446
-----------
-----------
Deferred tax:
Origination and reversal of timing differences
5,792
209
-----------
-----------
Tax on profit
304,258
367,655
-----------
-----------
6. INTANGIBLE ASSETS
Patents, trademarks and licences
£
Cost
At 1 January 2021 and 31 December 2021
10,000
----------
Amortisation
At 1 January 2021
5,250
Charge for the year
500
----------
At 31 December 2021
5,750
----------
Carrying amount
At 31 December 2021
4,250
----------
At 31 December 2020
4,750
----------
7. TANGIBLE ASSETS
Equipment
£
Cost
At 1 January 2021
174,366
Additions
60,487
-----------
At 31 December 2021
234,853
-----------
Depreciation
At 1 January 2021
114,836
Charge for the year
30,004
-----------
At 31 December 2021
144,840
-----------
Carrying amount
At 31 December 2021
90,013
-----------
At 31 December 2020
59,530
-----------
8. STOCKS
2021
2020
£
£
Work in progress
608,151
381,023
-----------
-----------
9. DEBTORS
Debtors falling due within one year are as follows:
2021
2020
£
£
Trade debtors
1,197,101
1,362,266
Other debtors
140,300
86,147
---------------
---------------
1,337,401
1,448,413
---------------
---------------
Debtors falling due after one year are as follows:
2021
2020
£
£
Other debtors
113,640
112,515
-----------
-----------
10. CREDITORS: amounts falling due within one year
2021
2020
£
£
Trade creditors
330,694
306,438
Corporation tax
298,484
367,493
Social security and other taxes
355,920
632,026
Other creditors
1,077,267
568,869
---------------
---------------
2,062,365
1,874,826
---------------
---------------
11. PROVISIONS
Deferred tax
Dilapidations
Total
£
£
£
At 1 January 2021
11,311
2,800
14,111
Charge against provision
5,791
1,200
6,991
----------
--------
----------
At 31 December 2021
17,102
4,000
21,102
----------
--------
----------
12. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 0.10 each
11,380
1,138
11,380
1,138
Growth shares of £ 0.01 each
2,362
24
2,362
24
----------
--------
----------
--------
13,742
1,162
13,742
1,162
----------
--------
----------
--------
13. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021
2020
£
£
Not later than 1 year
235,640
212,450
-----------
-----------