Source Marketing Communications Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04590000 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2026

for

Source Marketing Communications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Hughes

D Kennedy

Mrs M Phillips

REGISTERED OFFICE:

24 Park Square West

Leeds

West Yorshire

LS1 2PW

REGISTERED NUMBER:

04590000 (England and Wales)

ACCOUNTANTS:

Equate Limited

Chartered Certified Accountants

The Hive Wakefield

142 Thornes Lane

Wakefield

West Yorkshire

WF2 7RE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

4,288

4,313

4,288

4,313

CURRENT ASSETS

Debtors

6

78,346

81,740

Cash at bank

64,261

129,489

142,607

211,229

CREDITORS

Amounts falling due within one year

7

73,203

98,852

NET CURRENT ASSETS

69,404

112,377

TOTAL ASSETS LESS CURRENT
LIABILITIES

73,692

116,690

CREDITORS

Amounts falling due after more than one year

8

-

(1,770

)

PROVISIONS FOR LIABILITIES

(1,072

)

-

NET ASSETS

72,620

114,920

CAPITAL AND RESERVES

Called up share capital

100

Share premium

11

Retained earnings

72,509

114,809

72,620

114,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

D Kennedy - Director

1.	STATUTORY INFORMATION

Source Marketing Communications Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

28,000

AMORTISATION

At 1 April 2025

and 31 March 2026

28,000

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2025

13,870

4,896

18,766

Additions

158

3,388

3,546

Disposals

(8,045

)

-

(8,045

)

At 31 March 2026

5,983

8,284

14,267

DEPRECIATION

At 1 April 2025

10,885

3,568

14,453

Charge for year

472

2,216

2,688

Eliminated on disposal

(7,162

)

-

(7,162

)

At 31 March 2026

4,195

5,784

9,979

NET BOOK VALUE

At 31 March 2026

1,788

2,500

4,288

At 31 March 2025

2,985

1,328

4,313

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Trade debtors

56,226

68,573

Other debtors

3,276

Directors' current accounts

17,084

9,158

Prepayments and accrued income

1,760

733

78,346

81,740

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Bank loans and overdrafts

1,770

10,453

Trade creditors

10,781

6,332

Tax

38,714

-

Social security and other taxes

2,689

41,202

VAT

12,057

35,044

Other creditors

1,474

586

Directors' current accounts

1,798

-

Accruals and deferred income

3,920

5,235

73,203

98,852

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.26

31.3.25

£

Bank loans - 1-2 years

-

1,770

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

Within one year

13,543

15,956

Between one and five years

7,882

21,552

21,425

37,508

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, a director withdrew £8,000, leaving £17,084 owing from the director at the year end (£2025:

£9,708). The loan is repayable on demand and no interest is charged.