Company registration number 09104466 (England and Wales)
GOOD MORNING MARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
Premier House
127 Duckmoor Road
Ashton Gate
Bristol
England
BS3 2BJ
GOOD MORNING MARK LIMITED
CONTENTS
Page
Company information
1
Director's report
2
Profit and loss account
3
Balance sheet
4 - 5
Statement of changes in equity
6
Notes to the financial statements
7 - 11
The following pages do not form part of the financial statements
Accountants' report
12
Detailed profit and loss account
13
GOOD MORNING MARK LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr M J Whiting
Company number
09104466
Registered office
47 The Refinery
Jacob Street
Bristol
United Kingdom
BS 2 0HS
Accountants
TC Group
Premier House
127 Duckmoor Road
Ashton Gate
Bristol
England
BS3 2BJ
GOOD MORNING MARK LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
The director presents his annual report and financial statements for the year ended 30 June 2023.
Principal activities
The principal activity of the company continued to be that of graphic design services.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr M J Whiting
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr M J Whiting
Director
8 January 2024
GOOD MORNING MARK LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2023
2022
£
£
Turnover
3,894
798
Cost of sales
(15)
(145)
Gross profit
3,879
653
Administrative expenses
(2,108)
(1,188)
Profit/(loss) before taxation
1,771
(535)
Tax on profit/(loss)
(142)
(132)
Profit/(loss) for the financial year
1,629
(667)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
GOOD MORNING MARK LIMITED
BALANCE SHEET
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,383
694
Current assets
Debtors
5
962
22
Cash at bank and in hand
28,239
26,365
29,201
26,387
Creditors: amounts falling due within one year
6
(2,494)
(751)
Net current assets
26,707
25,636
Total assets less current liabilities
28,090
26,330
Provisions for liabilities
(263)
(132)
Net assets
27,827
26,198
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
27,826
26,197
Total equity
27,827
26,198
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
GOOD MORNING MARK LIMITED
BALANCE SHEET (CONTINUED)
- 5 -
The financial statements were approved and signed by the director and authorised for issue on 8 January 2024
Mr M J Whiting
Director
Company Registration No. 09104466
GOOD MORNING MARK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2021
1
26,864
26,865
Year ended 30 June 2022:
Loss and total comprehensive income for the year
-
(667)
(667)
Balance at 30 June 2022
1
26,197
26,198
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
1,629
1,629
Balance at 30 June 2023
1
27,826
27,827
The notes on pages 7 to 11 form part of these financial statements
GOOD MORNING MARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
1
Accounting policies
Company information
Good Morning Mark Limited is a private company limited by shares incorporated in England and Wales. The registered office is 47 The Refinery, Jacob Street, Bristol, United Kingdom, BS 2 0HS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
GOOD MORNING MARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 8 -
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
GOOD MORNING MARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 9 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
GOOD MORNING MARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 10 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
3,969
Additions
1,150
At 30 June 2023
5,119
Depreciation and impairment
At 1 July 2022
3,275
Depreciation charged in the year
461
At 30 June 2023
3,736
Carrying amount
At 30 June 2023
1,383
At 30 June 2022
694
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
962
Other debtors
22
962
22
GOOD MORNING MARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
12
Corporation tax
11
Other taxation and social security
387
Other creditors
2,084
751
2,494
751
GOOD MORNING MARK LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
The following pages do not form part of the statutory financial statements
GOOD MORNING MARK LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GOOD MORNING MARK LIMITED
- 12 -
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 June 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
TC Group
12 March 2024
Premier House
127 Duckmoor Road
Ashton Gate
Bristol
England
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