Registered number
07287409
Now Marketing Global Limited
Filleted Accounts
31 July 2023
Now Marketing Global Limited
Registered number: 07287409
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,248 5,010
Current assets
Debtors 4 26,320 45,804
Cash at bank and in hand 42,334 14,131
68,654 59,935
Creditors: amounts falling due within one year 5 (43,296) (35,987)
Net current assets 25,358 23,948
Total assets less current liabilities 29,606 28,958
Creditors: amounts falling due after more than one year 6 (28,717) (28,717)
Net assets 889 241
Capital and reserves
Called up share capital 100 100
Profit and loss account 789 141
Shareholders' funds 889 241
The directors are 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 directors acknowledge their 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.
A Hunt
Director
Approved by the board on 24 July 2024
Now Marketing Global Limited
Notes to the Accounts
for the year ended 31 July 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 9,376
Additions 300
At 31 July 2023 9,676
Depreciation
At 1 August 2022 4,366
Charge for the year 1,062
At 31 July 2023 5,428
Net book value
At 31 July 2023 4,248
At 31 July 2022 5,010
4 Debtors 2023 2022
£ £
Trade debtors 232 -
Other debtors 26,088 45,804
26,320 45,804
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,700 7,700
Trade creditors 4 4,170
Taxation and social security costs 35,591 24,117
Other creditors 1 -
43,296 35,987
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,717 28,717
7 Other information
Now Marketing Global Limited is a private company limited by shares and incorporated in England. Its registered office is:"
89C Rayleigh Avenue
Leigh on Sea
Essex
SS9 5DL
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