ACCOUNTS - Final Accounts

TOBY MUNDY ASSOCIATES LIMITED - Company Information

Registered number: 09117825

TOBY MUNDY ASSOCIATES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019


TOBY MUNDY ASSOCIATES LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


TOBY MUNDY ASSOCIATES LIMITED REGISTERED NUMBER:09117825

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	4		1,682		1,069
Current assets
Debtors: amounts falling due within one year	5	17,122		29,770
Cash at bank and in hand		28,554		26,185
		45,676		55,955
Current liabilities
Creditors: amounts falling due within one year	6	(25,686)		(34,715)
Net current assets			19,990		21,240

Net assets			21,672		22,309

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		21,671	22,308
		21,672	22,309

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2020.

J T Mundy

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


TOBY MUNDY ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

The company's legal form is that of a limited company incorporated in the United Kingdom. The Company's registered office is 38 Berkeley Square, London, W1J 5AE and its principal place of business is 46 Kirkley Road, Wimbledon, London, United Kingdom, SW19 3AY.
The principal activity of the company is that of a talent management company, specialising in consultancy and representing authors and speakers.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Revenue comprises fees and commissions receivable in respect of services supplied during the year, exclusive of Value Added Tax.
Fee income is recognised when services are provided. Commissions are recognised when royalties and advances are received from publishers on behalf of authors..

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

Straight line 25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 2


TOBY MUNDY ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

2.Accounting policies (continued)

2.4

Financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand..
Trade debtors and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors and other creditors are recognised initially at transaction price plus attributable transaction costs.
Cash and cash equivalents comprise cash balances and call deposits.

2.5

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.6

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.7

Client funds

The company holds funds on behalf of clients in the ordinary course of business. These funds are held in separate client bank accounts which do not form part of these financial statements. At 31 December 2018 the balance of funds held on behalf of clients amounted to £954 (2018 - £82,262).

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Page 3


TOBY MUNDY ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2019	2,202
	Additions	1,056
	At 31 December 2019	3,258
	Depreciation
	At 1 January 2019	1,132
	Charge for the year on owned assets	444
	At 31 December 2019	1,576
	Net book value
	At 31 December 2019	1,682
	At 31 December 2018	1,069

Debtors

					2019	2018
					£	£


Trade debtors	12,914	25,406
Prepayments and accrued income	4,208	4,364
	17,122	29,770

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	523	947
Taxation and social security	21,967	30,870
Other creditors	446	33
Accruals and deferred income	2,750	2,865
	25,686	34,715

Page 4


TOBY MUNDY ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

7.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

10 Ordinary shares of £0.10 each	1	1

Page 5