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COMPANY REGISTRATION NUMBER: 06966181

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FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2019

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FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

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OFFICERS AND PROFESSIONAL ADVISERS

Director	G Drake

Registered office	71-75 Shelton Street
	Covent Garden
	London
	WC2H 9JQ

Accountants	Streets LLP
	Chartered Accountants
	Tower House
	Lucy Tower Street
	Lincoln
	Lincolnshire
	LN1 1XW

Bankers	Santander UK Plc
	21 Prescot Street
	London
	E1 8AD

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STATEMENT OF FINANCIAL POSITION

31 December 2019

	2019		2018
Note	£	£	£

Fixed assets

Intangible assets	5	35,233	50,771
Tangible assets	6	3,818	4,669
Investments	7	20,059	20,059
		---------	---------
		59,110	75,499

Current assets

Debtors	8	125,672	100,701
Cash at bank and in hand		32,932	45,552
		-----------	-----------
		158,604	146,253

Creditors: amounts falling due within one year	9	106,622		130,321
		-----------		-----------
Net current assets			51,982	15,932
			-----------	---------
Total assets less current liabilities			111,092	91,431

Creditors: amounts falling due after more than one year	10		–	1,982

Provisions

Taxation including deferred tax	7,420	7,288
	-----------	---------
Net assets	103,672	82,161
	-----------	---------

Capital and reserves

Called up share capital	200	200
Profit and loss account	103,472	81,961
	-----------	---------
Shareholder funds	103,672	82,161
	-----------	---------

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 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.

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STATEMENT OF FINANCIAL POSITION (continued)

31 December 2019

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 August 2020 , and are signed on behalf of the board by:

G Drake
Director

Company registration number: 06966181

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 3, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 material 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

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:

	Website and software	-	25% 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 subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	IT and office equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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 as a finance cost 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 3 (2018: 2 ).

5. Intangible assets

	Goodwill	Development costs	Total
	£	£	£
Cost
At 1 January 2019 and 31 December 2019	117,718	500	118,218
	-----------	-----	-----------
Amortisation
At 1 January 2019	67,447	–	67,447
Charge for the year	15,538	–	15,538
	-----------	-----	-----------
At 31 December 2019	82,985	–	82,985
	-----------	-----	-----------
Carrying amount
At 31 December 2019	34,733	500	35,233
	-----------	-----	-----------
At 31 December 2018	50,271	500	50,771
	-----------	-----	-----------

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 January 2019	15,352	15,352
Additions	940	940
	---------	---------
At 31 December 2019	16,292	16,292
	---------	---------
Depreciation
At 1 January 2019	10,683	10,683
Charge for the year	1,791	1,791
	---------	---------
At 31 December 2019	12,474	12,474
	---------	---------
Carrying amount
At 31 December 2019	3,818	3,818
	---------	---------
At 31 December 2018	4,669	4,669
	---------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2019 and 31 December 2019	20,059
	---------
Impairment
At 1 January 2019 and 31 December 2019	–
	---------

Carrying amount
At 31 December 2019	20,059
	---------
At 31 December 2018	20,059
	---------

8. Debtors

	2019	2018
	£	£
Trade debtors	124,113	96,198
Other debtors	1,559	4,503
	-----------	-----------
	125,672	100,701
	-----------	-----------

9. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	1,025	10,733
Trade creditors	20,719	105,838
Corporation tax	11,529	–
Social security and other taxes	11,007	93
Other creditors	62,342	13,657
	-----------	-----------
	106,622	130,321
	-----------	-----------

10. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	–	1,982
	-----	--------