Marketing Hall of Legends - Period Ending 2019-04-30

Registration number: 07167523

Marketing Hall of Legends

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2019

Harney & Co Limited
Chartered Certified Accountants
21 Market Place
Blandford Forum
Dorset
DT11 7AF

 

Marketing Hall of Legends

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Marketing Hall of Legends

Company Information

Directors

S Shackell S J Back P Rumbold

Registered office

4a Bridge Street Newbury Berkshire RG14 5EX

Accountants

Harney & Co Limited Chartered Certified Accountants 21 Market Place Blandford Forum Dorset DT11 7AF

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Marketing Hall of Legends

(Registration number: 07167523)
Balance Sheet as at 30 April 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	5,574	4,775
Current assets
Debtors	5	298,336	33,968
Cash at bank and in hand		790,416	527,325
		1,088,752	561,293
Creditors: Amounts falling due within one year	6	(883,177)	(469,958)
Net current assets		205,575	91,335
Total assets less current liabilities		211,149	96,110
Provisions for liabilities		(947)	(907)
Net assets		210,202	95,203
Capital and reserves
Profit and loss account		210,202	95,203
Total equity		210,202	95,203

For the financial year ending 30 April 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 January 2020 and signed on its behalf by:
 

......................................... S Shackell Director

......................................... S J Back Director

The notes on pages 3 to 6 form an integral part of these financial statements.

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Marketing Hall of Legends

Notes to the Financial Statements for the Year Ended 30 April 2019

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
4a Bridge Street
Newbury
Berkshire
RG14 5EX

These financial statements were authorised for issue by the Board on 28 January 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated at the closing exchange rate. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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Marketing Hall of Legends

Notes to the Financial Statements for the Year Ended 30 April 2019 (continued)

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment & fittings	25% Straight Line
Plant & machinery	25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are recognised at the transaction price, less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.

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Marketing Hall of Legends

Notes to the Financial Statements for the Year Ended 30 April 2019 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2018 - 5).

4	Tangible assets

	Equipment & fittings £
Cost
At 1 May 2018	47,418
Additions	4,994
At 30 April 2019	52,412
Depreciation
At 1 May 2018	42,643
Charge for the year	4,195
At 30 April 2019	46,838
Carrying amount
At 30 April 2019	5,574
At 30 April 2018	4,775

5

Debtors

	2019 £	2018 £
Trade debtors	293,947	32,644
Prepayments	2,714	484
Other debtors	1,675	840
	298,336	33,968

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Marketing Hall of Legends

Notes to the Financial Statements for the Year Ended 30 April 2019 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Trade creditors	6,222	12,954
Taxation and social security	99,826	32,539
Deferred income	755,722	413,520
Accruals	7,790	7,330
Other creditors	13,617	3,615
	883,177	469,958

7	Related party transactions

All related party transactions have been conducted under normal market conditions.

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