Instant Promotion (UK) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06685264 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Instant Promotion (UK) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

Mr B Smith

Mr J Law

REGISTERED OFFICE:

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

BUSINESS ADDRESS:

Unit 7 Liberty Industrial Park

South Liberty Lane

Bristol

Gloucestershire

BS3 2SU

REGISTERED NUMBER:

06685264 (England and Wales)

ACCOUNTANTS:

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Instant Promotion (UK) Ltd for the year ended 30 September 2019 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Instant Promotion (UK) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Instant Promotion (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of Instant Promotion (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Instant Promotion (UK) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Instant Promotion (UK) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Instant Promotion (UK) Ltd. You consider that Instant Promotion (UK) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Instant Promotion (UK) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

7 May 2020

FIXED ASSETS

Tangible assets

4

63,375

59,108

CURRENT ASSETS

Stocks

5

221,380

304,250

Debtors

6

515,502

520,713

Cash at bank and in hand

433,967

126,459

1,170,849

951,422

CREDITORS

Amounts falling due within one year

7

268,333

257,869

NET CURRENT ASSETS

902,516

693,553

TOTAL ASSETS LESS CURRENT LIABILITIES

965,891

752,661

PROVISIONS FOR LIABILITIES

11,840

10,989

NET ASSETS

954,051

741,672

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

953,951

741,572

SHAREHOLDERS' FUNDS

954,051

741,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 7 May 2020 and were signed on its behalf by:

Mr J Law - Director

1.	STATUTORY INFORMATION

Instant Promotion (UK) Ltd 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.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first in first out method.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is

recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2018

2,118

83,696

29,215

115,029

Additions

-

16,724

-

16,724

At 30 September 2019

2,118

100,420

29,215

131,753

DEPRECIATION

At 1 October 2018

847

36,463

18,611

55,921

Charge for year

212

9,594

2,651

12,457

At 30 September 2019

1,059

46,057

21,262

68,378

NET BOOK VALUE

At 30 September 2019

1,059

54,363

7,953

63,375

At 30 September 2018

1,271

47,233

10,604

59,108

5.

STOCKS

30.9.19

30.9.18

£

£

Stocks

221,380

304,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

277,781

236,710

Other debtors

237,721

284,003

515,502

520,713

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

56,957

19,508

Taxation and social security

185,502

141,021

Other creditors

25,874

97,340

268,333

257,869

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

100

Ordinary shares

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2019 and

30 September 2018:

30.9.19

30.9.18

£

£

Mr J Law

Balance outstanding at start of year

171,390

-

Amounts advanced

169,694

171,390

Amounts repaid

(171,390

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

169,694

171,390

Mr B Smith

Balance outstanding at start of year

-

-

Amounts advanced

62,232

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

62,232

-

The loan advanced is repayable within 1 year and no interest is chargeable.

10.	RELATED PARTY DISCLOSURES

Included within Other debtors is an amount owed by a company under common control of £Nil (2018 -

£95,000).