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Company registration number: SC232670
Marketing Concepts Limited
Unaudited filleted financial statements
31 December 2024
Marketing Concepts Limited
Contents
Statement of financial position
Notes to the financial statements
Marketing Concepts Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 16,100 9,000
Tangible assets 6 - 1,488
_______ _______
16,100 10,488
Current assets
Debtors 7 54,608 61,789
Cash at bank and in hand 77,180 95,548
_______ _______
131,788 157,337
Creditors: amounts falling due
within one year 8 ( 53,243) ( 69,201)
_______ _______
Net current assets 78,545 88,136
_______ _______
Total assets less current liabilities 94,645 98,624
Creditors: amounts falling due
after more than one year 9 ( 22,269) ( 27,601)
_______ _______
Net assets 72,376 71,023
_______ _______
Capital and reserves
Called up share capital 7,568 7,568
Share premium account 900 900
Capital redemption reserve 124 124
Profit and loss account 63,784 62,431
_______ _______
Shareholders funds 72,376 71,023
_______ _______
For the year ending 31 December 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 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 28 May 2025 , and are signed on behalf of the board by:
G Cameron
Director
Company registration number: SC232670
Marketing Concepts Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 7, 2 Commercial Street, Edinburgh, EH6 6JA.
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.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 33.3 % straight line
Fittings fixtures and equipment - 33.3 % straight line
Website and IT Equipment - 33.3 % 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.
Financial instruments
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.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
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 4 (2023: 4 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2024 10,000 10,000
Additions 9,000 9,000
_______ _______
At 31 December 2024 19,000 19,000
_______ _______
Amortisation
At 1 January 2024 1,000 1,000
Charge for the year 1,900 1,900
_______ _______
At 31 December 2024 2,900 2,900
_______ _______
Carrying amount
At 31 December 2024 16,100 16,100
_______ _______
At 31 December 2023 9,000 9,000
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Website and IT Equipment Total
£ £ £ £ £
Cost
At 1 January 2024 and 31 December 2024 16,675 34,903 6,041 5,743 63,362
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 16,675 34,903 5,755 4,541 61,874
Charge for the year - - 286 1,202 1,488
_______ _______ _______ _______ _______
At 31 December 2024 16,675 34,903 6,041 5,743 63,362
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2024 - - - - -
_______ _______ _______ _______ _______
At 31 December 2023 - - 286 1,202 1,488
_______ _______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 47,035 53,865
Other debtors 7,573 7,924
_______ _______
54,608 61,789
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 13,014 24,974
Corporation tax 1,770 2,748
Social security and other taxes 13,848 14,706
Other creditors 14,611 16,773
_______ _______
53,243 69,201
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 22,269 27,601
_______ _______
10. Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
2024 2023
£ £
Intangible assets - 9,000
_______ _______
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
G Cameron ( 2,000) - 2,000 -
G Wilson ( 1,000) - 1,000 -
_______ _______ _______ _______
( 3,000) - 3,000 -
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
G Cameron - ( 2,000) - ( 2,000)
G Wilson - ( 1,000) - ( 1,000)
_______ _______ _______ _______
- ( 3,000) - ( 3,000)
_______ _______ _______ _______
All loans to the company from the directors are repayable on demand.
12. Controlling party
The company is under the control of G Cameron , director and majority shareholder.