Aspen Marketing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02889780 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2020

FOR

ASPEN MARKETING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L C Waite

P D Waite FCA, FCCA (Chief Executive)

Mrs G Marsh

B H Phillips

REGISTERED OFFICE:

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

REGISTERED NUMBER:

02889780 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

BANKERS:

HSBC

17 North Street

Taunton

Somerset

TA1 1NA

FIXED ASSETS

Tangible assets

4

168,664

94,723

Investments

5

873,555

21,000

1,042,219

115,723

CURRENT ASSETS

Work in progress

145,643

175,572

Debtors

6

2,140,151

1,363,551

Cash at bank and in hand

222,698

575,932

2,508,492

2,115,055

CREDITORS

Amounts falling due within one year

7

(902,952

)

(773,473

)

NET CURRENT ASSETS

1,605,540

1,341,582

TOTAL ASSETS LESS CURRENT LIABILITIES

2,647,759

1,457,305

CREDITORS

Amounts falling due after more than one year

8

(176,864

)

(197,678

)

PROVISIONS FOR LIABILITIES

(16,599

)

(2,551

)

NET ASSETS

2,454,296

1,257,076

CAPITAL AND RESERVES

Called up share capital

30,017

30,017

Share premium

162,487

162,487

Fair value reserve

9

794,805

-

Retained earnings

1,466,987

1,064,572

SHAREHOLDERS' FUNDS

2,454,296

1,257,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2020 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26th October 2020 and were signed on its behalf by:

P D Waite FCA, FCCA (Chief Executive) - Director

1.	STATUTORY INFORMATION

Aspen Marketing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Computer equipment

-

20% on reducing balance

Work in progress

Work in progress is valued at lower of Cost and net realisable 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 22 (2019 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st February 2019

32,800

43,769

77,302

153,871

Additions

4,600

36,568

64,017

105,185

At 31st January 2020

37,400

80,337

141,319

259,056

DEPRECIATION

At 1st February 2019

4,919

17,124

37,105

59,148

Charge for year

6,496

15,216

9,532

31,244

At 31st January 2020

11,415

32,340

46,637

90,392

NET BOOK VALUE

At 31st January 2020

25,985

47,997

94,682

168,664

At 31st January 2019

27,881

26,645

40,197

94,723

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st February 2019

21,000

Additions

57,750

At 31st January 2020

78,750

PROVISIONS

Provision for year

(794,805

)

At 31st January 2020

(794,805

)

NET BOOK VALUE

At 31st January 2020

873,555

At 31st January 2019

21,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/20

31/1/19

£

£

Trade debtors

271,972

711,819

Bad debt provision

(31,330

)

-

Other debtors

202,518

141,109

Amount owed by connected companies

1,175,872

510,623

Prepayments and accrued income

518,329

-

Prepayments

2,790

-

2,140,151

1,363,551

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/20

31/1/19

£

£

Trade creditors

38,724

61,702

Corporation tax

64,399

55,352

Social security and other taxes

20,711

13,615

VAT

81,999

110,556

Other creditors

157,611

409,004

Directors' current accounts

305,772

87,215

Accruals and deferred income

233,736

36,029

902,952

773,473

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/20

31/1/19

£

£

Bank loan due 2-5 years

176,864

197,678

9.

RESERVES

The provision to the unlisted investments, (£794,805) is included in reserves at fair value.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P D Waite FCA, FCCA (Chief Executive).

All transactions between group members are at a commercial rate.