Registered number
07634279
Activate Event Management Ltd
Filleted Accounts for the year ended
30 November 2023
Activate Event Management Ltd
Registered number: 07634279
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,424 6,434
Current assets
Debtors 4 1,234,724 1,066,573
Cash at bank and in hand 921,295 1,271,644
2,156,019 2,338,217
Creditors: amounts falling due within one year 5 (1,002,128) (1,296,752)
Net current assets 1,153,891 1,041,465
Net assets 1,158,315 1,047,899
Capital and reserves
Called up share capital 50 50
Profit and loss account 1,158,265 1,047,849
Shareholders' funds 1,158,315 1,047,899
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P S Bowie
Director
Approved by the board on 17 April 2024
Activate Event Management Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 85,777
Additions 1,480
Disposals (69,768)
At 30 November 2023 17,489
Depreciation
At 1 December 2022 79,343
Charge for the year 3,490
On disposals (69,768)
At 30 November 2023 13,065
Net book value
At 30 November 2023 4,424
At 30 November 2022 6,434
4 Debtors 2023 2022
£ £
Trade debtors 365,654 395,585
Prepayments 461,853 182,988
Directors loan 2,217 -
Other debtors 405,000 488,000
1,234,724 1,066,573
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 331,212 545,419
Deferred income 539,990 367,198
Accruals 25,266 87,145
Taxation and social security costs 94,285 225,249
Directors loan account - 55,396
Other creditors 11,375 16,345
1,002,128 1,296,752
6 Related party transactions
Included in other debtors (see note 4) are:

£5,000 owed by PSB Evolve Limited.

This is a company in which the director P S Bowie holds an interest.

This loan is made on an interest free basis with no set repayment date.

£400,000 owed by J Bowie who is related to the director P S Bowie.
This loan was repaid in full on 15 April 2024.
Interest was charged at the official rate of interest and paid to the company after the year end.
7 Transactions with the director
During the year, the director and his wife received dividends totalling £150,840 (2022: £148,419).

As at 30 November 2023 the director owed £2,217 to the company and is included within debttors.
8 Controlling party
The ultimate controlling party is the director P S Bowie, who together with his wife, hold 100% of the issued share capital of the company.
9 Other information
Activate Event Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Gleneagles Court
Brighton Road
Crawley
RH10 6AD
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