Samurai Incentives & Promotions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05088365 (England and Wales)

Samurai Incentives & Promotions Limited

Unaudited Financial Statements

For The Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

I Kerr

A Bull

D Woodward

SECRETARY:

REGISTERED OFFICE:

Unit 81 Centaur Court

Claydon Business Park

Gt. Blakenham

Ipswich

Suffolk

IP6 0NL

REGISTERED NUMBER:

05088365 (England and Wales)

ACCOUNTANTS:

John Phillips & Co Limited

Accountants

Unit 81 Centaur Court

Claydon Business Park

Gt. Blakenham

Ipswich

Suffolk

IP6 0NL

FIXED ASSETS

Tangible assets

4

6,721

1,597

Investments

5

291,850

291,900

298,571

293,497

CURRENT ASSETS

Debtors

6

1,066,372

1,443,360

Cash at bank and in hand

676,942

972,612

1,743,314

2,415,972

CREDITORS

Amounts falling due within one year

7

413,411

784,581

NET CURRENT ASSETS

1,329,903

1,631,391

TOTAL ASSETS LESS CURRENT LIABILITIES

1,628,474

1,924,888

CAPITAL AND RESERVES

Called up share capital

8

66

72

Retained earnings

9

1,628,408

1,924,816

SHAREHOLDERS' FUNDS

1,628,474

1,924,888

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 by the Board of Directors and authorised for issue on 19 April 2021 and were signed on its behalf by:

D Woodward - Director

1.	STATUTORY INFORMATION

Samurai Incentives & Promotions 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.

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

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.

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 12 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2019

826

4,803

11,981

17,610

Additions

2,935

-

4,645

7,580

Disposals

(826

)

-

(11,981

)

(12,807

)

At 31 March 2020

2,935

4,803

4,645

12,383

DEPRECIATION

At 1 April 2019

826

3,206

11,981

16,013

Charge for year

587

321

1,548

2,456

Eliminated on disposal

(826

)

-

(11,981

)

(12,807

)

At 31 March 2020

587

3,527

1,548

5,662

NET BOOK VALUE

At 31 March 2020

2,348

1,276

3,097

6,721

At 31 March 2019

-

1,597

-

1,597

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1 April 2019

291,900

Disposals

(50

)

At 31 March 2020

291,850

NET BOOK VALUE

At 31 March 2020

291,850

At 31 March 2019

291,900

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

217,836

575,368

Amounts owed by participating interests

-

74,213

Other debtors

169,279

260,000

Commercial Loan - D Woodward

75,000

-

PK Poland

8,642

-

SM Global Consultancy Ltd

202,000

202,000

Loans

-

30,494

PK France

283,293

204,701

PK Benelux

78,501

74,943

VAT

27,006

18,938

Prepayments

4,815

2,703

1,066,372

1,443,360

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

156,316

499,223

Tax

91,619

252,940

Social security

35,509

30,255

Other creditors

126,651

-

Nett wages

(107

)

-

Pension Control Account

2,473

1,213

Accrued expenses

950

950

413,411

784,581

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

NIL

Ordinary "B" Non-Voting

£1

-

6

Allotted and issued:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

6,600

Share capital 3

1p

66

66

9.

RESERVES

Retained

earnings

£

At 1 April 2019

1,924,816

Profit for the year

413,119

Dividends

(708,033

)

Purchase of own shares

(1,494

)

At 31 March 2020

1,628,408

10.	ULTIMATE CONTROLLING PARTY

The controlling party is SIP London Holdings Limited.