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Company registration number: 14810747







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 APRIL 2024


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED






































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THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
COMPANY INFORMATION


Director
A J Carr 




Registered number
14810747



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
REGISTERED NUMBER:14810747



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
52,000

Tangible assets
 5 
1,069

  
53,069

Current assets
  

Debtors: amounts falling due within one year
 6 
244,342

Cash at bank and in hand
  
53,980

  
298,322

Creditors: amounts falling due within one year
 7 
(305,657)

Net current (liabilities)/assets
  
 
 
(7,335)

Total assets less current liabilities
  
45,734

  

Net assets
  
45,734


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
45,733

  
45,734


Page 1

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
REGISTERED NUMBER:14810747


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A J Carr
Director

Date: 21 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

The Sales and Marketing Excellence Company Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information page of these financial statements. There is no principle place of business.
The company was incorporated on the 18 April 2023. As a result this is the company's first set of accounts which
represents a 13 month period from incorporation to 30 April 2024.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is generated via sales consultancy to help organisations instill Commercial Confidence and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

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.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other 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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line
Computer equipment
-
25%
straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.






Page 5

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Intangible assets



Goodwill

£



Cost


Additions
65,000



At 30 April 2024

65,000



Amortisation


Charge for the period on owned assets
13,000



At 30 April 2024

13,000



Net book value



At 30 April 2024
52,000




5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
755
566
1,321



At 30 April 2024

755
566
1,321



Depreciation


Charge for the period on owned assets
110
142
252



At 30 April 2024

110
142
252



Net book value



At 30 April 2024
645
424
1,069

Page 6

 


THE SALES AND MARKETING EXCELLENCE COMPANY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

6.


Debtors

2024
£


Trade debtors
190,313

Prepayments and accrued income
54,029

244,342



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
79,997

Corporation tax
17,165

Other taxation and social security
31,374

Other creditors
120,392

Accruals and deferred income
56,729

305,657


 
Page 7