REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE MARKETING GROUP (2001) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE MARKETING GROUP (2001) LIMITED |
THE MARKETING GROUP (2001) LIMITED (REGISTERED NUMBER: 07402351) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE MARKETING GROUP (2001) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42-44 Nottingham Road |
Mansfield |
Nottinghamshire |
NG18 1BL |
THE MARKETING GROUP (2001) LIMITED (REGISTERED NUMBER: 07402351) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE MARKETING GROUP (2001) LIMITED (REGISTERED NUMBER: 07402351) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
The Marketing Group (2001) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about The Marketing Group (2001) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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 future taxable profits. |
Finance costs |
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
Borrowing costs |
All borrowing costs are recognised in profit or loss in the year in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THE MARKETING GROUP (2001) LIMITED (REGISTERED NUMBER: 07402351) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
4. | FIXED ASSET INVESTMENTS |
The following were subsidiary undertakings of the company: |
Name | Class of shares | Holding |
Creative Bridge Ltd | Ordinary | 100% |
VU Creative Limited | Ordinary | 100% |
TMG (2001) Limited | Ordinary | 100% |
Bridge Communications (2003) Limited | Ordinary | 100% |
Vu Creative Limited was dissolved on 9 January 2024. Bridge Communications (2003) Limited was dissolved | on 6 February 2024. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Other creditors |
Directors' current accounts | 70,000 | 200,000 |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | £1 | 50,000 | 50,000 |
B Ordinary | £1 | 50,000 | 50,000 |
100,000 | 100,000 |
The shares rank equally in all respects other than dividend distribution. |
7. | CONTINGENT LIABILITIES |
There is a company cross guarantee and first debenture in respect of all companies in the group headed by The Marketing Group (2001) Limited. The amounts subject to this guarantee at 31 December 2023 totalled £79,345 (2022: £118,094). |
8. | DIRECTOR'S PERSONAL GUARANTEE |
N Winn has provided a personal guarantee in the amount of £30,000 (2022 £30,000) in respect of the overdraft facility with Natwest Bank PLC. |
THE MARKETING GROUP (2001) LIMITED (REGISTERED NUMBER: 07402351) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
9. | RELATED PARTY DISCLOSURE |
The company has taken advantage of the exemption conferred by Section 1A of FRS 102, to not disclose transactions entered into between two or more members of a group, provided that any subsidiary party to the transaction is wholly owned by such a member. |
Included within other creditors is £70,000 (2022: £100,000) which was owed to N Winn via her Director's Loan Account. This balance is interest free and repayable upon demand. |
Included within other creditors is £70,000 (2022: £100,000) which was owed to P3 Group Europe Limited, a shareholder of the company. This balance is interest free and repayable upon demand. |
P3 Group Europe Limited has guaranteed company debts up to £110,000 (2022 : £110,000) in respect of the overdraft facility with Natwest Bank PLC. |