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COMPANY REGISTRATION NUMBER: 08413275
Full Circles Marketing Ltd
Filleted Unaudited Financial Statements
31 August 2024
Full Circles Marketing Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
28,263
25,868
Current assets
Debtors
6
98,236
100,657
Cash at bank and in hand
70,530
41,755
---------
---------
168,766
142,412
Creditors: amounts falling due within one year
7
221,585
219,087
---------
---------
Net current liabilities
52,819
76,675
--------
--------
Total assets less current liabilities
( 24,556)
( 50,807)
Provisions
5,542
5,530
--------
--------
Net liabilities
( 30,098)
( 56,337)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 30,099)
( 56,338)
--------
--------
Shareholders deficit
( 30,098)
( 56,337)
--------
--------
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 31 August 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 .
Full Circles Marketing Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 16 May 2025 , and are signed on behalf of the board by:
Mr M Bacon
Director
Company registration number: 08413275
Full Circles Marketing Ltd
Notes to the Financial Statements
Year ended 31 August 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 1 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
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 accounts have been prepared on a going concern basis and are subject to the continued support of the directors.
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:
Fixtures and fittings
-
20% reducing balance
Office equipment
-
15% reducing balance
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 September 2023
14,573
34,819
49,392
Additions
5,416
2,649
8,065
--------
--------
--------
At 31 August 2024
19,989
37,468
57,457
--------
--------
--------
Depreciation
At 1 September 2023
8,410
15,114
23,524
Charge for the year
2,316
3,354
5,670
--------
--------
--------
At 31 August 2024
10,726
18,468
29,194
--------
--------
--------
Carrying amount
At 31 August 2024
9,263
19,000
28,263
--------
--------
--------
At 31 August 2023
6,163
19,705
25,868
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
67,132
75,795
Other debtors
31,104
24,862
--------
---------
98,236
100,657
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
82,321
60,066
Social security and other taxes
29,713
37,026
Other creditors
109,551
121,995
---------
---------
221,585
219,087
---------
---------
8. Related party transactions
Full Circles Marketing Ltd has made a loan to an associated company and at the year end was owed £ 26,900 (2023: £ 23,000 ). Two directors have made loans to the company. The balance owing to these directors at the year end was £ 107,240 (2023: £ 119,666 ). All loans have no repayment terms and are interest free.