Company registration number 11818516 (England and Wales)
FOLK MARKETING CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
FOLK MARKETING CONSULTANCY LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,396
27,521
Current assets
Debtors
4
285,628
238,097
Cash at bank and in hand
130,030
90,591
415,658
328,688
Creditors: amounts falling due within one year
5
(317,394)
(249,379)
Net current assets
98,264
79,309
Total assets less current liabilities
116,660
106,830
Creditors: amounts falling due after more than one year
6
-
0
(29,213)
Provisions for liabilities
(4,599)
(6,880)
Net assets
112,061
70,737
Capital and reserves
Called up share capital
7
4
3
Profit and loss reserves
112,057
70,734
Total equity
112,061
70,737
FOLK MARKETING CONSULTANCY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Ms J J Walker
Director
Company registration number 11818516 (England and Wales)
FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Folk Marketing Consultancy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor (Front) Charles House, 148 Great Charles Street, Birmingham, B3 3HT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. Income is recognised in the period in which services are delivered, and any revenue relating to subsequent periods is carried forward within other creditors.

1.3
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Fixtures and fittings
25% Straight Line
Computers
33.33% Straight Line
1.4
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

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.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
13
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
56,155
Additions
4,517
At 31 July 2024
60,672
Depreciation and impairment
At 1 August 2023
28,634
Depreciation charged in the year
13,642
At 31 July 2024
42,276
Carrying amount
At 31 July 2024
18,396
At 31 July 2023
27,521
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
230,476
204,866
Other debtors
55,152
33,231
285,628
238,097
FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
11,217
Trade creditors
17,879
11,544
Taxation and social security
138,932
128,495
Other creditors
160,583
98,123
317,394
249,379
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
29,213
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 1p each
152
152
2
2
Ordinary B Shares of 1p each
152
152
2
1
304
304
4
3
8
Related party transactions
Transactions with related parties

During the year the company received part payment of the previously advanced £12,900 to a party related by common appointment. At the year end £12,113 of the advancement remined outstanding. This loan is interest free and has no repayment terms.

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