57 false false false false false false false false false true false false false false true true No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,028,820 4,330 1,033,150 1,033,150 1,028,820 xbrli:pure xbrli:shares iso4217:GBP NI022062 2022-11-01 2023-12-31 NI022062 2023-12-31 NI022062 2022-10-31 NI022062 2021-11-01 2022-10-31 NI022062 2022-10-31 NI022062 core:PlantMachinery 2022-11-01 2023-12-31 NI022062 core:FurnitureFittings 2022-11-01 2023-12-31 NI022062 bus:OrdinaryShareClass1 2022-11-01 2023-12-31 NI022062 bus:OrdinaryShareClass2 2022-11-01 2023-12-31 NI022062 bus:PreferenceShareClass1 2022-11-01 2023-12-31 NI022062 bus:Director1 2022-11-01 2023-12-31 NI022062 core:LandBuildings 2022-10-31 NI022062 core:PlantMachinery 2022-10-31 NI022062 core:FurnitureFittings 2022-10-31 NI022062 core:LandBuildings 2023-12-31 NI022062 core:PlantMachinery 2023-12-31 NI022062 core:FurnitureFittings 2023-12-31 NI022062 core:WithinOneYear 2023-12-31 NI022062 core:WithinOneYear 2022-10-31 NI022062 core:AfterOneYear 2023-12-31 NI022062 core:AfterOneYear 2022-10-31 NI022062 core:UKTax 2022-11-01 2023-12-31 NI022062 core:UKTax 2021-11-01 2022-10-31 NI022062 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 NI022062 core:ShareCapital 2023-12-31 NI022062 core:ShareCapital 2022-10-31 NI022062 core:CapitalRedemptionReserve 2023-12-31 NI022062 core:CapitalRedemptionReserve 2022-10-31 NI022062 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI022062 core:RetainedEarningsAccumulatedLosses 2022-10-31 NI022062 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 NI022062 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 NI022062 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 NI022062 core:Non-currentFinancialInstruments 2023-12-31 NI022062 core:Non-currentFinancialInstruments 2022-10-31 NI022062 core:LandBuildings 2022-10-31 NI022062 core:PlantMachinery 2022-10-31 NI022062 core:FurnitureFittings 2022-10-31 NI022062 bus:SmallEntities 2022-11-01 2023-12-31 NI022062 bus:Audited 2022-11-01 2023-12-31 NI022062 bus:FullAccounts 2022-11-01 2023-12-31 NI022062 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-12-31 NI022062 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-12-31 NI022062 bus:OrdinaryShareClass1 2023-12-31 NI022062 bus:OrdinaryShareClass1 2022-10-31 NI022062 bus:OrdinaryShareClass2 2023-12-31 NI022062 bus:OrdinaryShareClass2 2022-10-31 NI022062 bus:AllOrdinaryShares 2023-12-31 NI022062 bus:AllOrdinaryShares 2022-10-31 NI022062 bus:PreferenceShareClass1 2023-12-31 NI022062 bus:PreferenceShareClass1 2022-10-31
COMPANY REGISTRATION NUMBER: NI022062
Ardmore Advertising & Marketing Limited
Filleted Financial Statements
31 December 2023
Ardmore Advertising & Marketing Limited
Statement of Financial Position
31 December 2023
31 Dec 23
31 Oct 22
Note
£
£
£
Fixed assets
Tangible assets
7
704,381
709,571
Investments
8
1,033,150
1,028,820
------------
------------
1,737,531
1,738,391
Current assets
Stocks
40,012
24,153
Debtors
9
2,522,040
2,536,693
Cash at bank and in hand
290,628
74,295
------------
------------
2,852,680
2,635,141
Creditors: amounts falling due within one year
10
3,092,604
2,887,689
------------
------------
Net current liabilities
239,924
252,548
------------
------------
Total assets less current liabilities
1,497,607
1,485,843
Creditors: amounts falling due after more than one year
11
108,334
166,667
Provisions
Taxation including deferred tax
80,736
80,736
------------
------------
Net assets
1,308,537
1,238,440
------------
------------
Capital and reserves
Called up share capital
12
13,897
13,897
Capital redemption reserve
5,658
5,658
Profit and loss account
1,288,982
1,218,885
------------
------------
Shareholders funds
1,308,537
1,238,440
------------
------------
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 income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Ardmore Advertising & Marketing Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mr J P Keane
Director
Company registration number: NI022062
Ardmore Advertising & Marketing Limited
Notes to the Financial Statements
Period from 1 November 2022 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 3 Kinnegar Drive, Holywood, County Down, BT18 9JQ.
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.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year net 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. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax,at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
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.
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:
Office equipment
-
25% reducing balance
Alterations to premises
-
15% reducing balance
Computer equipment
-
33 % reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 57 (2022: 60 ).
5. Tax on profit
Major components of tax expense
Period from
1 Nov 22 to
Year to
31 Dec 23
31 Oct 22
£
£
Current tax:
UK current tax expense
78,956
76,526
Adjustments in respect of prior periods
( 22,393)
--------
--------
Total current tax
56,563
76,526
--------
--------
Deferred tax:
Origination and reversal of timing differences
( 4,069)
--------
--------
Tax on profit
56,563
72,457
--------
--------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the period is lower than (2022: higher than) the standard rate of corporation tax in the UK of 23 % (2022: 19 %).
Period from
1 Nov 22 to
Year to
31 Dec 23
31 Oct 22
£
£
Profit on ordinary activities before taxation
276,660
311,294
---------
---------
Profit on ordinary activities by rate of tax
63,281
59,146
Adjustment to tax charge in respect of prior periods
( 22,393)
Effect of expenses not deductible for tax purposes
4,002
( 418)
Effect of capital allowances and depreciation
11,673
17,798
(Over)/Under provision in prior year
(4,069)
---------
---------
Tax on profit
56,563
72,457
---------
---------
6. Dividends
Equity dividends
Dividends paid during the period (excluding those for which a liability existed at the end of the prior period):
31 Dec 23
31 Oct 22
£
£
Equity dividends on ordinary shares
150,000
150,000
---------
---------
7. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 November 2022
425,000
298,043
112,461
169,888
1,005,392
Additions
40,200
18,013
14,664
72,877
---------
---------
---------
---------
------------
At 31 December 2023
425,000
338,243
130,474
184,552
1,078,269
---------
---------
---------
---------
------------
Depreciation
At 1 November 2022
158,229
29,252
108,340
295,821
Charge for the period
39,873
14,716
23,478
78,067
---------
---------
---------
---------
------------
At 31 December 2023
198,102
43,968
131,818
373,888
---------
---------
---------
---------
------------
Carrying amount
At 31 December 2023
425,000
140,141
86,506
52,734
704,381
---------
---------
---------
---------
------------
At 31 October 2022
425,000
139,814
83,209
61,548
709,571
---------
---------
---------
---------
------------
8. Investments
Other investments other than loans
£
Cost
At 1 November 2022
1,028,820
Additions
4,330
------------
At 31 December 2023
1,033,150
------------
Impairment
At 1 November 2022 and 31 December 2023
------------
Carrying amount
At 31 December 2023
1,033,150
------------
At 31 October 2022
1,028,820
------------
The company has purchased 30,000 £1 ordinary shares in LK Communications (Ireland) Limited (then Peach PR Limited) on 31 October 2014.
The company has purchased 1,000 £1 ordinary shares in Built For Growth Digital Limited on 11 March 2022.
As at the balance sheet date the company held the following investments in subsidiary undertakings:
Subsidiary Holding Nature of Country of
Business Incorporation
LK Communications 99.6% Marketing consultancy Northern Ireland
(Ireland) Limited 30,000 Ordinary shares and PR events management
Built For Growth 100% IT Consultancy Northern Ireland
Digital Limited 100 Ordinary Shares
The aggregate share capital and reserves and the profit for the year of the subsidiary are as follows:
Aggregate capital and reserves
2023
2022
£
£
LK Communications (Ireland) Limited
208,099
208,976
Built For Growth Digital Limited
522,575
593,398
Profit and (loss) for the year
2023
2022
£
£
LK Communications (Ireland) Limited
(877)
36,432
Built For Growth Digital Limited
179,176
128,386
In the opinion of the directors, the investment in and amounts due from the company's subsidiary undertaking are worth at least the amounts at which they are stated in the balance sheet.
9. Debtors
31 Dec 23
31 Oct 22
£
£
Trade debtors
1,744,707
1,768,881
Amounts owed by group undertakings and undertakings in which the company has a participating interest
27,459
Other debtors
749,874
767,812
------------
------------
2,522,040
2,536,693
------------
------------
10. Creditors: amounts falling due within one year
31 Dec 23
31 Oct 22
£
£
Bank loans and overdrafts
96,658
277,095
Trade creditors
1,961,805
1,014,597
Amounts owed to group undertakings and undertakings in which the company has a participating interest
406,695
342,222
Corporation tax
56,563
76,526
Social security and other taxes
65,767
152,114
Other creditors
505,116
1,025,135
------------
------------
3,092,604
2,887,689
------------
------------
Bank loans and overdrafts are secured by an all monies debenture providing the bankers with a fixed charge on the company's book debts and a floating charge over the company's undertakings and other assets.
11. Creditors: amounts falling due after more than one year
31 Dec 23
31 Oct 22
£
£
Bank loans and overdrafts
83,334
141,667
Other creditors
25,000
25,000
---------
---------
108,334
166,667
---------
---------
12. Called up share capital
Issued, called up and fully paid
31 Dec 23
31 Oct 22
No.
£
No.
£
Amounts presented in equity:
Ordinary shares of £ 1 each
13,202
13,202
13,202
13,202
Ordinary 'B' shares of £ 1 each
695
695
695
695
--------
--------
--------
--------
13,897
13,897
13,897
13,897
--------
--------
--------
--------
Amounts presented in liabilities:
Preference shares of £ 1 each
25,000
25,000
25,000
25,000
--------
--------
--------
--------
On the 17 June 2016, 695 £1 Ordinary 'B' shares were issued at par. The £1 cumulative redeemable preference shares are convertible at the option of the company or the shareholder into ordinary shares from 1 May 2002, on the basis of one ordinary share for every one preference share. The preference shares carry a dividend of 8% per annum, payable yearly in arrears on 30 April. The dividend rights are cumulative.
13. Contingencies
There were no material contingent liabilities at the balance sheet date (2022: £Nil).
14. Summary audit opinion
The auditor's report for the period dated 21 August 2024 was unqualified.
The senior statutory auditor was Michael Flannigan , for and on behalf of FEB Chartered Accountants .
15. Directors' advances, credits and guarantees
During the year,the company advanced net loans of £134,542 to the directors (2022: £40,616). At the balance sheet date £452,341 remained outstanding from the directors to the company (2022: £317,799).
16. Related party transactions
During the year, the company entered into the following related party transactions: LK Communications (Ireland) Limited - repaid loans of £35,526. Ardmore Media Limited - the company repaid loans of £1. Built For Growth Digital Limited - the company received loans of £100,000. At the balance sheet date, the following balances remained outstanding: Related Party
2023 2022
£ £
LK Communications (Ireland) Limited 62,717 98,243
Ardmore Media Limited 1
Built For Growth Digital Limited 343,978 243,978
17. Controlling party
The company is a private company, limited by shares. It is registered in Northern Ireland ( NI022062 ) with its registered office at Unit 3 Kinnegar Drive, Holywood, BT18 9JQ.