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COMPANY REGISTRATION NUMBER: 03793821
Perception Advertising Limited
Filleted Unaudited Financial Statements
30 June 2024
Perception Advertising Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
453
1,156
Current assets
Debtors
6
1,572
14,420
Cash at bank and in hand
12
12
-------
--------
1,584
14,432
Creditors: amounts falling due within one year
7
44,032
41,690
--------
--------
Net current liabilities
42,448
27,258
--------
--------
Total assets less current liabilities
( 41,995)
( 26,102)
Creditors: amounts falling due after more than one year
8
3,791
7,292
--------
--------
Net liabilities
( 45,786)
( 33,394)
--------
--------
Capital and reserves
Called up share capital
9
4
4
Profit and loss account
( 45,790)
( 33,398)
--------
--------
Shareholders deficit
( 45,786)
( 33,394)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Perception Advertising Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
R Scrutton
Director
Company registration number: 03793821
Perception Advertising Limited
Notes to the Financial Statements
Year ended 30 June 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 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of 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.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's director. The director has indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the director considers the going concern basis is appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
25 - 33% Straight line
Fixtures & Fittings
-
25% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
6,042
6,973
13,015
-------
-------
--------
Depreciation
At 1 July 2023
4,886
6,973
11,859
Charge for the year
703
703
-------
-------
--------
At 30 June 2024
5,589
6,973
12,562
-------
-------
--------
Carrying amount
At 30 June 2024
453
453
-------
-------
--------
At 30 June 2023
1,156
1,156
-------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
14,420
Corporation tax repayable
1,572
-------
--------
1,572
14,420
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,396
21,443
Trade creditors
165
1,977
Accruals and deferred income
1,890
2,834
Corporation tax
1,972
Social security and other taxes
10,263
10,263
Director loan accounts
26,318
3,201
--------
--------
44,032
41,690
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,791
7,292
-------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary Class A shares of £ 1 each
2
2
2
2
Ordinary Class B shares of £ 1 each
2
2
2
2
----
----
----
----
4
4
4
4
----
----
----
----
The ordinary class B shares have no voting rights.
10. Related party transactions
Increase/ decrease in loan Balance at 30 June Dr/(Cr)
£ £
Directors
30 June 2024 (23,117) (26,318)
30 June 2023 8,079 (3,201)