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Registration number: 09888926

Solid Digital Marketing Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Solid Digital Marketing Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Solid Digital Marketing Ltd

(Registration number: 09888926)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

73,283

21,406

Tangible assets

5

4,445

6,496

 

77,728

27,902

Current assets

 

Debtors

6

21,409

16,502

Cash at bank and in hand

 

20,109

63,448

 

41,518

79,950

Creditors: Amounts falling due within one year

7

(91,800)

(98,667)

Net current liabilities

 

(50,282)

(18,717)

Total assets less current liabilities

 

27,446

9,185

Provisions for liabilities

(844)

(1,234)

Net assets

 

26,602

7,951

Capital and reserves

 

Called up share capital

100

100

Retained earnings

26,502

7,851

Shareholders' funds

 

26,602

7,951

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

 

Solid Digital Marketing Ltd

(Registration number: 09888926)
Balance Sheet as at 31 December 2023

.........................................
Mr T Thorns
Director

.........................................
Mr B Thorns
Director

 

Solid Digital Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 33 Peel House
30 The Downs
Altricham
WA14 2PX
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Solid Digital Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line

 

Solid Digital Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Solid Digital Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Websites
 £

Total
£

Cost or valuation

At 1 January 2023

21,406

21,406

Additions acquired separately

51,877

51,877

At 31 December 2023

73,283

73,283

Amortisation

Carrying amount

At 31 December 2023

73,283

73,283

At 31 December 2022

21,406

21,406

5

Tangible assets

Office Equipment
£

Total
£

Cost or valuation

At 1 January 2023

15,088

15,088

Additions

2,294

2,294

At 31 December 2023

17,382

17,382

Depreciation

At 1 January 2023

8,592

8,592

Charge for the year

4,345

4,345

At 31 December 2023

12,937

12,937

Carrying amount

At 31 December 2023

4,445

4,445

At 31 December 2022

6,496

6,496

 

Solid Digital Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

21,349

11,547

Prepayments

60

2,246

Other debtors

-

2,709

 

21,409

16,502

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

2,924

Trade creditors

 

326

-

Amounts owed to group undertakings

72,984

70,696

Taxation and social security

 

13,073

6,450

Accruals and deferred income

 

1,167

615

Other creditors

 

4,250

17,982

 

91,800

98,667

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

1,025

Other borrowings

-

1,899

-

2,924

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

1,025

Other borrowings

-

1,899

-

2,924