15 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 441,416 441,416 30,144 30,144 411,272 31,423 12,168 8,038 35,553 22,095 5,200 6,045 21,250 14,303 9,328 xbrli:pure xbrli:shares iso4217:GBP 09342225 2023-01-01 2023-12-31 09342225 2023-12-31 09342225 2022-12-31 09342225 2022-01-01 2022-12-31 09342225 2022-12-31 09342225 2021-12-31 09342225 core:PlantMachinery 2023-01-01 2023-12-31 09342225 bus:Director1 2023-01-01 2023-12-31 09342225 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09342225 core:PlantMachinery 2022-12-31 09342225 core:PlantMachinery 2023-12-31 09342225 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09342225 core:WithinOneYear 2023-12-31 09342225 core:WithinOneYear 2022-12-31 09342225 core:ShareCapital 2023-12-31 09342225 core:ShareCapital 2022-12-31 09342225 core:SharePremium 2023-12-31 09342225 core:SharePremium 2022-12-31 09342225 core:RetainedEarningsAccumulatedLosses 2023-12-31 09342225 core:RetainedEarningsAccumulatedLosses 2022-12-31 09342225 core:PlantMachinery 2022-12-31 09342225 bus:SmallEntities 2023-01-01 2023-12-31 09342225 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09342225 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09342225 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09342225 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 09342225
Add to Event Limited
Filleted Unaudited Financial Statements
31 December 2023
Add to Event Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Add to Event Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
411,272
Tangible assets
6
14,303
9,328
---------
-------
425,575
9,328
Current assets
Debtors
7
13,402
36,765
Cash at bank and in hand
558,817
483,338
---------
---------
572,219
520,103
Creditors: amounts falling due within one year
8
148,173
170,881
---------
---------
Net current assets
424,046
349,222
---------
---------
Total assets less current liabilities
849,621
358,550
Provisions
3,400
2,036
---------
---------
Net assets
846,221
356,514
---------
---------
Capital and reserves
Called up share capital
1,400
1,389
Share premium account
3,852,828
3,436,920
Profit and loss account
( 3,008,007)
( 3,081,795)
------------
------------
Shareholders funds
846,221
356,514
------------
------------
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 statement of comprehensive income has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Add to Event Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr B Maughan
Director
Company registration number: 09342225
Add to Event Limited
Notes to the Financial Statements
Year ended 31 December 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 Camburgh House, 27 New Dover Road, Canterbury, CT1 3DN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
7 Years Straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Plant, machinery and equipment
-
33% straight line
Impairment of fixed assets
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2022: 16 ).
5. Intangible assets
Development costs
£
Cost
Additions
441,416
---------
At 31 December 2023
441,416
---------
Amortisation
Charge for the year
30,144
---------
At 31 December 2023
30,144
---------
Carrying amount
At 31 December 2023
411,272
---------
At 31 December 2022
---------
6. Tangible assets
Plant, machinery and equipment
£
Cost
At 1 January 2023
31,423
Additions
12,168
Disposals
( 8,038)
--------
At 31 December 2023
35,553
--------
Depreciation
At 1 January 2023
22,095
Charge for the year
5,200
Disposals
( 6,045)
--------
At 31 December 2023
21,250
--------
Carrying amount
At 31 December 2023
14,303
--------
At 31 December 2022
9,328
--------
7. Debtors
2023
2022
£
£
Trade debtors
540
Other debtors
13,402
36,225
--------
--------
13,402
36,765
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
48,731
60,671
Social security and other taxes
82,763
65,132
Other creditors
16,679
45,078
---------
---------
148,173
170,881
---------
---------