1 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 24.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11485183 2023-08-01 2024-07-31 11485183 2024-07-31 11485183 2023-07-31 11485183 2022-08-01 2023-07-31 11485183 2023-07-31 11485183 2022-07-31 11485183 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 11485183 bus:Director1 2023-08-01 2024-07-31 11485183 core:FurnitureFittingsToolsEquipment 2023-07-31 11485183 core:FurnitureFittingsToolsEquipment 2024-07-31 11485183 core:WithinOneYear 2024-07-31 11485183 core:WithinOneYear 2023-07-31 11485183 core:ShareCapital 2024-07-31 11485183 core:ShareCapital 2023-07-31 11485183 core:RetainedEarningsAccumulatedLosses 2024-07-31 11485183 core:RetainedEarningsAccumulatedLosses 2023-07-31 11485183 core:BetweenOneFiveYears 2024-07-31 11485183 core:FurnitureFittingsToolsEquipment 2023-07-31 11485183 bus:Director1 2023-07-31 11485183 bus:Director1 2024-07-31 11485183 bus:Director1 2022-07-31 11485183 bus:Director1 2023-07-31 11485183 bus:Director1 2022-08-01 2023-07-31 11485183 bus:SmallEntities 2023-08-01 2024-07-31 11485183 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 11485183 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11485183 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11485183 bus:FullAccounts 2023-08-01 2024-07-31 11485183 1 2023-08-01 2024-07-31
Company registration number: 11485183
Third Eye Marketing Limited
Unaudited filleted financial statements
31 July 2024
Third Eye Marketing Limited
Contents
Statement of financial position
Notes to the financial statements
Third Eye Marketing Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 2,271 910
_______ _______
2,271 910
Current assets
Debtors 6 1,584 16,269
Cash at bank and in hand 184,591 149,634
_______ _______
186,175 165,903
Creditors: amounts falling due
within one year 7 ( 30,836) ( 24,822)
_______ _______
Net current assets 155,339 141,081
_______ _______
Total assets less current liabilities 157,610 141,991
_______ _______
Net assets 157,610 141,991
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 157,609 141,990
_______ _______
Shareholder funds 157,610 141,991
_______ _______
For the year ending 31 July 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 member has 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 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 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.
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
R Hooper
Director
Company registration number: 11485183
Third Eye Marketing Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
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 in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2023 1,820 1,820
Additions 1,687 1,687
_______ _______
At 31 July 2024 3,507 3,507
_______ _______
Depreciation
At 1 August 2023 910 910
Charge for the year 326 326
_______ _______
At 31 July 2024 1,236 1,236
_______ _______
Carrying amount
At 31 July 2024 2,271 2,271
_______ _______
At 31 July 2023 910 910
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors - 15,348
Other debtors 1,584 921
_______ _______
1,584 16,269
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 28,827 21,623
Social security and other taxes - 1,872
Other creditors 2,009 1,327
_______ _______
30,836 24,822
_______ _______
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 6,889 -
Later than 1 year and not later than 5 years 10,908 -
_______ _______
17,797 -
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
R Hooper ( 1,258) ( 703) ( 1,961)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
R Hooper ( 711) ( 547) ( 1,258)
_______ _______ _______
"The loan is interest free, unsecured and repayable on demand"
10. Controlling party
The company is under the control of the director R Hooper .