Marketing Aid Limited - Limited company accounts 18.2

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2019

for

Marketing Aid Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

R Fuscone

Mrs S Fuscone

SECRETARY:

Mrs S Fuscone

REGISTERED OFFICE:

Bridge House

2 Bridge Avenue

Maidenhead

Berkshire

SL6 1RR

REGISTERED NUMBER:

00999846 (England and Wales)

ACCOUNTANTS:

Peter Upton

Bridge House

2 Bridge Avenue

Maidenhead

Berkshire

SL6 1RR

The directors present their report with the financial statements of the company for the year ended 31 January 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the development and exploitation of

inventions and the marketing of associated products.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2018 to the date of this

report.

R Fuscone

Mrs S Fuscone

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

R Fuscone - Director

29 October 2019

TURNOVER

-

-

Administrative expenses

2,565

3,376

OPERATING LOSS

4

(2,565

)

(3,376

)

Interest receivable and similar income

12

12

LOSS BEFORE TAXATION

(2,553

)

(3,364

)

Tax on loss

5

-

-

LOSS FOR THE FINANCIAL YEAR

(2,553

)

(3,364

)

FIXED ASSETS

Tangible assets

6

105

207

CURRENT ASSETS

Debtors

7

3,663

3,663

Cash at bank

305

-

3,968

3,663

CREDITORS

Amounts falling due within one year

8

19,101

16,345

NET CURRENT LIABILITIES

(15,133

)

(12,682

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,028

)

(12,475

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(15,128

)

(12,575

)

SHAREHOLDERS' FUNDS

(15,028

)

(12,475

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 29 October 2019 and were signed on its behalf by:

R Fuscone - Director

1.	STATUTORY INFORMATION

Marketing Aid 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.

Goodwill

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost at a rate

of 10% per annum.

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

-

10% on reducing balance

Office & sundry equipment

-

25% on cost

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, which

are initially recognised at transaction value and subsequently measured at their settlement value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was as follows:

31.1.19

31.1.18

Average number including directors

2

2

4.	OPERATING LOSS

The operating loss is stated after charging:

31.1.19

31.1.18

£

£

Depreciation - owned assets

102

105

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 January 2019 nor for the year ended

31 January 2018.

6.	TANGIBLE FIXED ASSETS

Fixtures

Office &

and

sundry

fittings

equipment

Totals

£

£

£

COST

At 1 February 2018

and 31 January 2019

3,031

3,666

6,697

DEPRECIATION

At 1 February 2018

2,914

3,576

6,490

Charge for year

12

90

102

At 31 January 2019

2,926

3,666

6,592

NET BOOK VALUE

At 31 January 2019

105

-

105

At 31 January 2018

117

90

207

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

2,947

2,947

Other debtors

716

716

3,663

3,663

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Bank loans and overdrafts

-

112

VAT

576

245

Directors' current accounts

16,665

13,378

Accrued expenses

1,860

2,610

19,101

16,345

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 February 2018

(12,575

)

Deficit for the year

(2,553

)

At 31 January 2019

(15,128

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R and Mrs S Fuscone.