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Registration number: 08974665

Eight Marketing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Eight Marketing Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Eight Marketing Limited

(Registration number: 08974665)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

476

793

Other financial assets

5

303,628

176,177

 

304,104

176,970

Current assets

 

Debtors

6

221,195

312,374

Cash at bank and in hand

 

1,068,551

643,151

 

1,289,746

955,525

Creditors: Amounts falling due within one year

7

(245,162)

(141,540)

Net current assets

 

1,044,584

813,985

Total assets less current liabilities

 

1,348,688

990,955

Provisions for liabilities

(90)

(150)

Net assets

 

1,348,598

990,805

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,348,498

990,705

Shareholders' funds

 

1,348,598

990,805

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

 

Eight Marketing Limited

(Registration number: 08974665)
Balance Sheet as at 30 April 2024

.........................................
Thomas Jeffrey Potter
Director

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
80-83 Long Lane
London
EC1A 9ET
England

These financial statements were authorised for issue by the Board on 23 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Plant & machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

102,750

3,956

106,706

Additions

-

592

592

At 30 April 2024

102,750

4,548

107,298

Depreciation

At 1 May 2023

102,750

3,163

105,913

Charge for the year

-

909

909

At 30 April 2024

102,750

4,072

106,822

Carrying amount

At 30 April 2024

-

476

476

At 30 April 2023

-

793

793

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2023

176,177

176,177

Revaluations

(9,549)

(9,549)

Additions

137,000

137,000

At 30 April 2024

303,628

303,628

Impairment

Carrying amount

At 30 April 2024

303,628

303,628

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

221,020

312,199

Other debtors

175

175

 

221,195

312,374

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

35

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

14,891

55,128

Taxation and social security

60,983

51,914

Other creditors

169,253

34,498

245,162

141,540

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary shares of £1 each

25

25

25

25

B Ordinary shares of £1 each

25

25

25

25

C Ordinary shares of £1 each

25

25

25

25

D Ordinary shares of £1 each

25

25

25

25

 

100

100

100

100

 

Eight Marketing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

9

Related party transactions

Loans from related parties

 


Rush Sports Marketing Limited: A UK resident company where Thomas Jeffrey Potter serves as the director. Management fees charged to the company during the period amounted to £413,326 (2023: £260,166). As of 30 April 2024, the balance due from Rush Sports Marketing Ltd was £197,020.