Company registration number 13895764 (England and Wales)
REBEL LION ADVERTISING LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
REBEL LION ADVERTISING LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
REBEL LION ADVERTISING LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,359
6,546
Current assets
Debtors
4
329,065
77,898
Cash at bank and in hand
44,808
13,823
373,873
91,721
Creditors: amounts falling due within one year
5
(393,954)
(92,711)
Net current liabilities
(20,081)
(990)
Total assets less current liabilities
13,278
5,556
Creditors: amounts falling due after more than one year
6
(1,037)
(2,537)
Provisions for liabilities
(5,639)
(436)
Net assets
6,602
2,583
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
6,502
2,483
Total equity
6,602
2,583
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 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 members have 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 2 September 2024
Mr M T Jones
Director
Company registration number 13895764 (England and Wales)
REBEL LION ADVERTISING LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 4 February 2022
-
Period ended 31 March 2023:
Profit and total comprehensive income
-
2,483
2,483
Issue of share capital
7
100
-
100
Balance at 31 March 2023
100
2,483
2,583
Year ended 31 March 2024:
Profit and total comprehensive income
-
4,019
4,019
Balance at 31 March 2024
100
6,502
6,602
REBEL LION ADVERTISING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Rebel Lion Advertising Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Bonded Warehouse, Atlantic Wharf, Cardiff, CF10 4HE.
1.1
Reporting period
The previous financial statements covered a period of 14 months and are therefore not entirely comparable.
1.2
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.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for advertising services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost, 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
20% on cost
Computers
20% on cost
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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
REBEL LION ADVERTISING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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.
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 charged or credited to 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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
10
6
REBEL LION ADVERTISING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
5,053
1,821
6,874
Additions
7,741
24,069
31,810
At 31 March 2024
12,794
25,890
38,684
Depreciation and impairment
At 1 April 2023
226
102
328
Depreciation charged in the year
1,932
3,065
4,997
At 31 March 2024
2,158
3,167
5,325
Carrying amount
At 31 March 2024
10,636
22,723
33,359
At 31 March 2023
4,827
1,719
6,546
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
221,062
57,444
Other debtors
108,003
20,454
329,065
77,898
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,500
1,500
Trade creditors
56,646
5,981
Amounts owed to group undertakings
199,906
Taxation and social security
50,687
45,230
Other creditors
85,215
40,000
393,954
92,711
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,037
2,537
REBEL LION ADVERTISING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
8,122
9
Related party transactions
The following amounts were outstanding at the reporting end date:
Included in Other debtors is a loan to FRZN Limited, a subsidiary of the parent company. At the year end, there was a balance outstanding of £12,576 (2023 - £7,647).
Included in Amounts owed to group undertakings is a loan to Jones Family Investments Group, the parent company. At the year end, there was a balance due of £199,906 (2023 - debtor balance of £2,441).
10
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director
-
-
72,783
(12,874)
59,909
-
72,783
(12,874)
59,909
11
Parent company
The ultimate parent company is Jones Family Investments Group Limited, whose registered office is The Bonded Warehouse, Atlantic Wharf, Cardiff, Wales, CF10 4HE.