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COMPANY REGISTRATION NUMBER: 07583868
Malcombe Pollett Business Marketing Limited
Filleted Unaudited Financial Statements
31 March 2023
Malcombe Pollett Business Marketing Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Malcombe Pollett Business Marketing Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
1,110
1,480
Current assets
Stocks
995
Debtors
7
1,130
430
Cash at bank and in hand
6,348
13,908
-------
--------
7,478
15,333
Creditors: amounts falling due within one year
8
6,678
15,000
-------
--------
Net current assets
800
333
-------
-------
Total assets less current liabilities
1,910
1,813
Provisions
Taxation including deferred tax
211
281
-------
-------
Net assets
1,699
1,532
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,698
1,531
-------
-------
Shareholders funds
1,699
1,532
-------
-------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Malcombe Pollett Business Marketing Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 9 October 2023 , and are signed on behalf of the board by:
Mr R M E Pollett
Director
Company registration number: 07583868
Malcombe Pollett Business Marketing Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable and services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
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:
Goodwill
-
5 years 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:
Fixtures and fittings
-
20% straight line
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
5,000
-------
Amortisation
At 1 April 2022 and 31 March 2023
5,000
-------
Carrying amount
At 31 March 2023
-------
At 31 March 2022
-------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022
3,929
8,122
12,051
Disposals
( 2,138)
( 2,138)
-------
-------
--------
At 31 March 2023
3,929
5,984
9,913
-------
-------
--------
Depreciation
At 1 April 2022
3,929
6,642
10,571
Charge for the year
370
370
Disposals
( 2,138)
( 2,138)
-------
-------
--------
At 31 March 2023
3,929
4,874
8,803
-------
-------
--------
Carrying amount
At 31 March 2023
1,110
1,110
-------
-------
--------
At 31 March 2022
1,480
1,480
-------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
660
Other debtors
470
430
-------
----
1,130
430
-------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
200
222
Corporation tax
109
1,372
Social security and other taxes
768
Other creditors
6,369
12,638
-------
--------
6,678
15,000
-------
--------
9. Related party transactions
At the balance sheet date, the company owed the director £4,809 (2022: £11,527).