Company registration number 11818516 (England and Wales)
FOLK MARKETING CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
FOLK MARKETING CONSULTANCY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 July 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,313
18,396
Current assets
Debtors
4
237,939
285,628
Cash at bank and in hand
214,574
130,030
452,513
415,658
Creditors: amounts falling due within one year
5
(416,638)
(317,394)
Net current assets
35,875
98,264
Total assets less current liabilities
50,188
116,660
Provisions for liabilities
(3,534)
(4,599)
Net assets
46,654
112,061
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
46,650
112,057
Total equity
46,654
112,061
For the financial period ended 31 December 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 period 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 16 April 2025 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 PERIOD ENDED 31 DECEMBER 2024
- 2 -
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
Reporting period
The financial statements are for the period ended 31 December 2024, whilst the previous period covered the year ended 31 July 2024. The accounting period has been shortened to align the financial year with the annual working cycle of the business. For this reason, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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.
1.3
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.
1.4
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
1.5
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.
FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
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 period was:
2024
2024
Number
Number
Total
13
12
FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2024
60,672
Additions
1,581
At 31 December 2024
62,253
Depreciation and impairment
At 1 August 2024
42,276
Depreciation charged in the period
5,664
At 31 December 2024
47,940
Carrying amount
At 31 December 2024
14,313
At 31 July 2024
18,396
4
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
176,227
230,476
Other debtors
61,712
55,152
237,939
285,628
5
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
57,733
17,879
Taxation and social security
152,008
138,932
Other creditors
206,897
160,583
416,638
317,394
Other creditors includes deferred income of £199,840 (2024: £151,456), which relates to payments received from clients for services that had not yet been delivered by the end of the accounting period.
FOLK MARKETING CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
6
Called up share capital
2024
2024
2024
2024
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
2
304
304
4
4