58 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03723921 2022-05-01 2023-04-30 03723921 2023-04-30 03723921 2022-04-30 03723921 2021-05-01 2022-04-30 03723921 2022-04-30 03723921 2021-04-30 03723921 core:LandBuildings core:LongLeaseholdAssets 2022-05-01 2023-04-30 03723921 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 03723921 bus:RegisteredOffice 2022-05-01 2023-04-30 03723921 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 03723921 bus:Director1 2022-05-01 2023-04-30 03723921 core:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 03723921 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 03723921 core:WithinOneYear 2023-04-30 03723921 core:WithinOneYear 2022-04-30 03723921 core:AfterOneYear 2023-04-30 03723921 core:AfterOneYear 2022-04-30 03723921 core:ShareCapital 2023-04-30 03723921 core:ShareCapital 2022-04-30 03723921 core:RetainedEarningsAccumulatedLosses 2023-04-30 03723921 core:RetainedEarningsAccumulatedLosses 2022-04-30 03723921 core:ShareCapital 2021-04-30 03723921 core:RetainedEarningsAccumulatedLosses 2021-04-30 03723921 bus:SmallEntities 2022-05-01 2023-04-30 03723921 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 03723921 bus:AbridgedAccounts 2022-05-01 2023-04-30 03723921 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 03723921 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30
Company registration number: 03723921
Allied Promotions Limited
Unaudited filleted abridged financial statements
30 April 2023
Allied Promotions Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Allied Promotions Limited
Directors and other information
Director Gary Henshaw
Company number 03723921
Registered office Ku Bar
30 Lisle Street
London
WC2H 7BA
Accountants Benchmark Accounting Services Ltd
187 High Road Leyton
London
E15 2BY
Allied Promotions Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Allied Promotions Limited
Year ended 30 April 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 April 2023 which comprise the abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Benchmark Accounting Services Ltd
187 High Road Leyton
London
E15 2BY
25 January 2024
Allied Promotions Limited
Abridged statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 715,303 399,232
_______ _______
715,303 399,232
Current assets
Stocks 18,602 10,662
Debtors 1,098,436 141,530
Investments 6 24,000 24,000
Cash at bank and in hand 676,827 1,673,775
_______ _______
1,817,865 1,849,967
Creditors: amounts falling due
within one year ( 968,044) ( 856,003)
_______ _______
Net current assets 849,821 993,964
_______ _______
Total assets less current liabilities 1,565,124 1,393,196
Creditors: amounts falling due
after more than one year ( 41,667) ( 81,667)
_______ _______
Net assets 1,523,457 1,311,529
_______ _______
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 1,503,457 1,291,529
_______ _______
Shareholders funds 1,523,457 1,311,529
_______ _______
For the year ending 30 April 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 25 January 2024 , and are signed on behalf of the board by:
Gary Henshaw
Director
Company registration number: 03723921
Allied Promotions Limited
Statement of changes in equity
Year ended 30 April 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2021 20,000 575,425 595,425
Profit for the year 826,104 826,104
_______ _______ _______
Total comprehensive income for the year - 826,104 826,104
Dividends paid and payable ( 110,000) ( 110,000)
_______ _______ _______
Total investments by and distributions to owners - ( 110,000) ( 110,000)
_______ _______ _______
At 30 April 2022 and 1 May 2022 20,000 1,291,529 1,311,529
Profit for the year 311,928 311,928
_______ _______ _______
Total comprehensive income for the year - 311,928 311,928
Dividends paid and payable ( 100,000) ( 100,000)
_______ _______ _______
Total investments by and distributions to owners - ( 100,000) ( 100,000)
_______ _______ _______
At 30 April 2023 20,000 1,503,457 1,523,457
_______ _______ _______
Allied Promotions Limited
Notes to the financial statements
Year ended 30 April 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 Ku Bar, 30 Lisle Street, London, WC2H 7BA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.Therefore, the director continues to adopt the going concern basis in preparing the financial statements for the year ended 30 April 2023.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
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:
Long leasehold property - 2.5 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 58 (2022: 41 ).
5. Tangible assets
£
Cost
At 1 May 2022 946,770
Additions 387,836
_______
At 30 April 2023 1,334,606
_______
Depreciation
At 1 May 2022 547,538
Charge for the year 71,765
_______
At 30 April 2023 619,303
_______
Carrying amount
At 30 April 2023 715,303
_______
At 30 April 2022 399,232
_______
6. Investments
2023 2022
£ £
Other investments 24,000 24,000
_______ _______
7. Controlling party
The director, Mr Gary Henshaw is the ultimate controlling party.