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COMPANY REGISTRATION NUMBER: 07680769
Alex James Presents Ltd
Filleted Unaudited Accounts
30 June 2023
Alex James Presents Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
6
543
Tangible assets
7
2,264
676
-------
-------
2,264
1,219
Current assets
Debtors
8
29,620
35,931
Cash at bank and in hand
7,360
3,519
--------
--------
36,980
39,450
Creditors: amounts falling due within one year
9
( 17,865)
( 23,550)
--------
--------
Net current assets
19,115
15,900
--------
--------
Total assets less current liabilities
21,379
17,119
Creditors: amounts falling due after more than one year
10
( 17,938)
( 15,178)
--------
--------
Net assets
3,441
1,941
--------
--------
Capital and reserves
Called up share capital
11
800
800
Capital redemption reserve
12
200
200
Profit and loss account
12
2,441
941
-------
-------
Shareholders funds
3,441
1,941
-------
-------
These accounts 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 30 June 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 accounts 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 accounts .
Alex James Presents Ltd
Statement of Financial Position (continued)
30 June 2023
These accounts were approved by the board of directors and authorised for issue on 11 October 2023 , and are signed on behalf of the board by:
Mr S A James
Director
Company registration number: 07680769
Alex James Presents Ltd
Notes to the Accounts
Year ended 30 June 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 10 Orange Street, Haymarket, London, WC2H 7DQ.
2. Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
In the opinion of the director the company is a going concern and the accounts have been prepared on this basis. The director continues to provide full support to the business and believes the company to be in a strong position to take advantage of future opportunities as they arise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred 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.
Intangible assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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:
Trademarks
-
10% 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and equipment
-
25% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Dividends
2023
2022
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
27,000
27,500
--------
--------
6. Intangible assets
Trademarks
£
Cost
At 1 July 2022 and 30 June 2023
24,437
--------
Amortisation
At 1 July 2022
23,894
Charge for the year
543
--------
At 30 June 2023
24,437
--------
Carrying amount
At 30 June 2023
--------
At 30 June 2022
543
--------
7. Tangible assets
Plant and equipment
Total
£
£
Cost
At 1 July 2022
7,786
7,786
Additions
2,224
2,224
--------
--------
At 30 June 2023
10,010
10,010
--------
--------
Depreciation
At 1 July 2022
7,110
7,110
Charge for the year
636
636
--------
--------
At 30 June 2023
7,746
7,746
--------
--------
Carrying amount
At 30 June 2023
2,264
2,264
--------
--------
At 30 June 2022
676
676
--------
--------
8. Debtors
2023
2022
£
£
Trade debtors
4,620
5,815
Other debtors
25,000
30,116
--------
--------
29,620
35,931
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,760
8,279
Trade creditors
4,341
3,136
Corporation tax
6,501
9,028
Social security and other taxes
628
357
Other creditors
3,635
2,750
--------
--------
17,865
23,550
--------
--------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,938
15,178
--------
--------
In November 2020 the company was in receipt of a Business Bounce Back loan. The loan attracts interest at 2.5% per annum and is repayable over 6 years by instalments with no repayment due in the first year from drawdown. Instalments commenced November 2021.
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
800
800
800
800
----
----
----
----
12. Reserves
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.
13. Director's advances, credits and guarantees
During the year the director repaid in full the balance of £5,116 brought forward as owing to the company. Subsequently, the director made an advance to the company of £885, which remains outstanding at the year end and is reflected in other creditors. This advance is free from interest and is due for repayment within nine months of the balance sheet date.
14. Related party transactions
The company was under the control of Mr S A James throughout the period. Mr S A James is both a director and majority shareholder of the company. Aside from those transactions and balances already presented in the notes to the accounts, no other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.