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COMPANY REGISTRATION NUMBER: 14442812
DDG Marketing Limited
Unaudited Financial Statements
31 October 2024
DDG Marketing Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Statement of cash flows
5
Notes to the financial statements
6
The following pages do not form part of the financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
11
DDG Marketing Limited
Directors' Report
Year ended 31 October 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2024 .
Principal activities
The principal activity of the company during the year was the provision of marketing support services.
Directors
The directors who served the company during the year were as follows:
Mr D Anderson
Mr J Anderson
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 10 March 2025 and signed on behalf of the board by:
Mr D Anderson
Mr J Anderson
Director
Director
Mr D Anderson
Company Secretary
Registered office:
5 Mickleden Way
Barnsley
S75 2JH
DDG Marketing Limited
Statement of Comprehensive Income
Year ended 31 October 2024
2024
2023
Note
£
£
Turnover
4
228,586
99,477
Cost of sales
194,188
90,492
---------
--------
Gross profit
34,398
8,985
Administrative expenses
27,315
14,737
--------
--------
Operating profit/(loss)
5
7,083
( 5,752)
--------
--------
Profit/(loss) before taxation
7,083
( 5,752)
Tax on profit/(loss)
7
253
-------
-------
Profit/(loss) for the financial year and total comprehensive income
6,830
( 5,752)
-------
-------
All the activities of the company are from continuing operations.
DDG Marketing Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Current assets
Debtors
8
17,087
100
Cash at bank and in hand
2,957
1,476
--------
-------
20,044
1,576
Creditors: amounts falling due within one year
9
18,613
899
--------
-------
Net current assets
1,431
677
-------
----
Total assets less current liabilities
1,431
677
Creditors: amounts falling due after more than one year
10
253
6,329
-------
-------
Net assets/(liabilities)
1,178
( 5,652)
-------
-------
Capital and reserves
Called up share capital
12
100
100
Profit and loss account
1,078
( 5,752)
-------
-------
Shareholders funds/(deficit)
1,178
( 5,652)
-------
-------
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
Mr D Anderson
Mr J Anderson
Director
Director
Company registration number: 14442812
DDG Marketing Limited
Statement of Changes in Equity
Year ended 31 October 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 November 2022
Loss for the year
( 5,752)
( 5,752)
----
-------
-------
Total comprehensive income for the year
( 5,752)
( 5,752)
Issue of shares
100
100
----
-------
-------
Total investments by and distributions to owners
100
100
At 31 October 2023
100
( 5,752)
( 5,652)
Profit for the year
6,830
6,830
----
-------
-------
Total comprehensive income for the year
6,830
6,830
----
-------
-------
At 31 October 2024
100
1,078
1,178
----
-------
-------
DDG Marketing Limited
Statement of Cash Flows
Year ended 31 October 2024
2024
2023
£
£
Cash flows from operating activities
Profit/(loss) for the financial year
6,830
( 5,752)
Adjustments for:
Tax on profit/(loss)
253
Accrued expenses
2,470
Changes in:
Trade and other debtors
( 16,987)
( 100)
Trade and other creditors
8,915
7,228
--------
-------
Cash generated from operations
1,481
1,376
-------
-------
Net cash from operating activities
1,481
1,376
-------
-------
Cash flows from financing activities
Proceeds from issue of ordinary shares
100
-------
-------
Net cash from financing activities
100
-------
-------
Net increase in cash and cash equivalents
1,481
1,476
Cash and cash equivalents at beginning of year
1,476
-------
-------
Cash and cash equivalents at end of year
2,957
1,476
-------
-------
DDG Marketing Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Mickleden Way, Barnsley, S75 2JH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:
2024
2023
£
£
Rendering of services
228,586
99,477
---------
--------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit/(loss)
Operating profit or loss is stated after charging:
2024
2023
£
£
Foreign exchange differences
11
----
----
6. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2024
2023
No.
No.
Production staff
5
5
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2024
2023
£
£
Wages and salaries
194,188
90,492
Social security costs
14,216
1,917
Other pension costs
2,318
961
---------
--------
210,722
93,370
---------
--------
7. Tax on profit/(loss)
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
253
----
----
Tax on profit/(loss)
253
----
----
Reconciliation of tax expense
The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2023: the same as) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
2024
2023
£
£
Profit/(loss) on ordinary activities before taxation
7,083
( 5,752)
-------
-------
Profit/(loss) on ordinary activities by rate of tax
1,346
Utilisation of tax losses
( 1,093)
-------
-------
Tax on profit/(loss)
253
-------
-------
8. Debtors
2024
2023
£
£
Trade debtors
15,903
Other debtors
1,184
100
--------
----
17,087
100
--------
----
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
1,084
-------
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
2,470
Social security and other taxes
15,679
Other creditors
464
899
--------
----
18,613
899
--------
----
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Corporation tax
253
Social security and other taxes
6,329
----
-------
253
6,329
----
-------
11. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 2,318 (2023: £ 961 ).
12. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
13. Analysis of changes in net debt
At 1 Nov 2023
Cash flows
At 31 Oct 2024
£
£
£
Cash at bank and in hand
1,476
1,481
2,957
-------
-------
-------
DDG Marketing Limited
Management Information
Year ended 31 October 2024
The following pages do not form part of the financial statements.
DDG Marketing Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of DDG Marketing Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DDG Marketing Limited for the year ended 31 October 2024, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of DDG Marketing Limited, as a body, in accordance with the terms of our engagement letter dated 20 December 2024. Our work has been undertaken solely to prepare for your approval the financial statements of DDG Marketing Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DDG Marketing Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that DDG Marketing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DDG Marketing Limited. You consider that DDG Marketing Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of DDG Marketing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
NICOLA BOWKER & CO. Chartered accountants
Alexander Buildings 37 New Road Laxey Isle of Man IM4 7BQ
13 March 2025