RE:ACT MARKETING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
Company Registration Number: 11843739
RE:ACT MARKETING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
RE:ACT MARKETING LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS
Mr T Stone
Mrs P Uddin
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
6 Wrights Lane
London
W8 6TA
COMPANY REGISTRATION NUMBER
11843739 England and Wales
RE:ACT MARKETING LTD
BALANCE SHEET
AS AT 31 MARCH 2024
Notes 2024 2023
(As restated - Note 4)
£ £
FIXED ASSETS
Tangible assets 6 108,228 95,285
CURRENT ASSETS
Debtors 7 987,840 672,201
Cash at bank and in hand 344,638 1,129,647
1,332,478 1,801,848
CREDITORS: Amounts falling due within one year 8 1,271,627 1,672,456
NET CURRENT ASSETS 60,851 129,392
TOTAL ASSETS LESS CURRENT LIABILITIES 169,079 224,677
Provisions for liabilities and charges 27,057 23,821
NET ASSETS 142,022 200,856
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 141,922 200,756
SHAREHOLDERS' FUNDS 142,022 200,856
RE:ACT MARKETING LTD
BALANCE SHEET
AS AT 31 MARCH 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Mr T Stone Mrs P Uddin
Director Director
Date approved by the board: 16 August 2024
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 GENERAL INFORMATION
Re:Act Marketing Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
6 Wrights Lane
London
W8 6TA
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of marketing strategy and creative communication services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Office equipment Reducing balance basis at 25% per annum
Computer equipment Straight line basis at 33% per annum
Website Straight line basis at 33% per annum
Leasehold improvements Straight line basis at 10% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Provisions
A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
4 RESTATEMENT OF COMPARATIVES
During the preparation of these accounts, it was identified that sales invoiced to customers during the year ended 31 March 2023 that related to the year ended 31 March 2024 had not been accounted for as deferred income at 31 March 2023. It was also identified that supplier invoices dated after the year ended 31 March 2023 in respect of Client Advertising Services received prior to 31 March 2023 had not been included within accruals at 31 March 2023. As a result, the comparative figures have been restated as follows:
Accruals and deferred income (Note 8) Taxation and social security (note 8) Capital & reserves
As previously stated 682,604 349,977 706,293
Sales not recognised within deferred income 511,717 (97,226) (414,491)
Supplier invoices not recognised within accruals 112,279 (21,333) (90,946)
As restated 1,306,600 231,418 200,856
5 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 36 19
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6 TANGIBLE ASSETS
Office equipment Computer equipment Website Leasehold improvements Total
£ £ £ £ £
Cost
At 1 April 2023 39,306 67,982 17,742 - 125,030
Additions 2,740 25,277 28,000 4,600 60,617
Disposals - - - (4,600) (4,600)
At 31 March 2024 42,046 93,259 45,742 - 181,047
Accumulated depreciation and impairments
At 1 April 2023 7,207 17,064 5,474 - 29,745
Charge for year 7,775 28,104 7,195 - 43,074
At 31 March 2024 14,982 45,168 12,669 - 72,819
Net book value
At 1 April 2023 32,099 50,918 12,268 - 95,285
At 31 March 2024 27,064 48,091 33,073 - 108,228
7 DEBTORS
2024 2023
£ £
Trade debtors 569,899 584,686
Prepayments and accrued income 33,105 18,445
Other debtors 384,836 69,070
987,840 672,201
RE:ACT MARKETING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
8 CREDITORS: Amounts falling due within one year
2024 2023
(As restated - Note 4)
£ £
Bank loans and overdrafts 113 -
Trade creditors 221,585 123,764
Taxation and social security 151,072 231,418
Accruals and deferred income 897,890 1,306,600
Other creditors 967 10,674
1,271,627 1,672,456
9 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 189,000 120,127
10 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the year:
Balance at 1 April 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 March 2024
£ £ £ £ £
Mr T Stone and Mrs P Uddin 26,849 242,812 28,115 - 241,546
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
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