2023-06-302024-06-292024-06-29false07668488CMG EVENTS 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CMG EVENTS LIMITED

Registered Number
07668488
(England and Wales)

Unaudited Financial Statements for the Year ended
29 June 2024

CMG EVENTS LIMITED
Company Information
for the year from 30 June 2023 to 29 June 2024

Directors

Lady Petersham
Lord Petersham

Registered Address

Number 3 Acorn Business Park
Airedale Business Centre
Skipton
BD23 2UE

Registered Number

07668488 (England and Wales)
CMG EVENTS LIMITED
Statement of Financial Position
29 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets52,9072,011
2,9072,011
Current assets
Debtors614,1809,600
Cash at bank and on hand370,622396,015
384,802405,615
Creditors amounts falling due within one year7(69,766)(73,529)
Net current assets (liabilities)315,036332,086
Total assets less current liabilities317,943334,097
Net assets317,943334,097
Capital and reserves
Called up share capital11
Profit and loss account317,942334,096
Shareholders' funds317,943334,097
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2024, and are signed on its behalf by:
Lord Petersham
Director
Registered Company No. 07668488
CMG EVENTS LIMITED
Notes to the Financial Statements
for the year ended 29 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue to receive the support of the director. Due to ongoing support of the company's principal shareholder the director believes it is appropriate to prepare the financial statements on a going concern basis which assumes that the company will continue to be in operational existence for the foreseeable future.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 30 June 235,1605,160
At 29 June 245,1605,160
Amortisation and impairment
At 30 June 235,1605,160
At 29 June 245,1605,160
Net book value
At 29 June 24--
At 29 June 23--
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 4 years and the asset will be amortised on a straight-line basis over that period.
5.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 30 June 23193,301193,301
Additions2,0012,001
At 29 June 24195,302195,302
Depreciation and impairment
At 30 June 23191,290191,290
Charge for year1,1051,105
At 29 June 24192,395192,395
Net book value
At 29 June 242,9072,907
At 29 June 232,0112,011
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,6009,600
Other debtors4,580-
Total14,1809,600
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,6355,610
Other creditors65,32565,028
Accrued liabilities and deferred income2,8062,891
Total69,76673,529
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £378 (2023 - £399). Contributions totalling £538 (2023 - £240) were payable to the fund at the reporting date and are included in creditors.
9.Related party transactions
Included in creditors, amounts falling due within one year, is a balance of £64,787 (2023 - £64,787) due to Lord Petersham. This amount is interest free and repayable on demand.