REGISTERED NUMBER: |
ADVANTAGE MARKETING GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
REGISTERED NUMBER: |
ADVANTAGE MARKETING GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
ADVANTAGE MARKETING GROUP LIMITED (REGISTERED NUMBER: 14793113) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ADVANTAGE MARKETING GROUP LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Exchange |
5 Bank Street |
Bury |
Lancashire |
BL9 0DN |
ADVANTAGE MARKETING GROUP LIMITED (REGISTERED NUMBER: 14793113) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ADVANTAGE MARKETING GROUP LIMITED (REGISTERED NUMBER: 14793113) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Advantage Marketing Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14793113 and registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the statement of financial position, the company had negative retained earnings of £3,560 and reported a net loss for the period. The company is in the start up phase and the directors have the expectation that the company has adequate resources to continue trading for the foreseeable future; therefore the directors continue to adopt the going concern basis in preparing the financial statements. |
Significant judgements and estimates |
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements. |
Revenue |
Service revenue is recognised as those services are provided to customers. Contracted managed service revenue is recognised over the contract period on a pro-rata basis, which represents the level of completion of an individual contract. The unrecognised contracted revenue is included as provision for deferred income in the statement of financial position. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
Taxation |
Taxation for the period 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 statement of financial position date. |
ADVANTAGE MARKETING GROUP LIMITED (REGISTERED NUMBER: 14793113) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 30 April 2024: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
ADVANTAGE MARKETING GROUP LIMITED (REGISTERED NUMBER: 14793113) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 APRIL 2023 TO 30 APRIL 2024 |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
The balances are unsecured and repayable on demand. Interest has been charged at 2.25% totalling £278. There were no material advances during the period. The reported closing balances are the maximum overdrawn balances in the period. |