The Promotional Mix Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02784744 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

FOR

THE PROMOTIONAL MIX LIMITED

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

6

DIRECTOR:

Mr J Thorp

REGISTERED OFFICE:

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

REGISTERED NUMBER:

02784744 (England and Wales)

ACCOUNTANTS:

NJR Accountancy Services Limited

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

FIXED ASSETS

Property, plant and equipment

4

43,798

49,700

Investments

5

17,325

21,000

61,123

70,700

CURRENT ASSETS

Inventories

272,224

309,664

Debtors

6

322,095

336,799

Cash at bank

-

24,504

594,319

670,967

CREDITORS

Amounts falling due within one year

7

729,079

792,517

NET CURRENT LIABILITIES

(134,760

)

(121,550

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(73,637

)

(50,850

)

CREDITORS

Amounts falling due after more than one year

8

31,667

40,834

NET LIABILITIES

(105,304

)

(91,684

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(106,304

)

(92,684

)

SHAREHOLDERS' FUNDS

(105,304

)

(91,684

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19th May 2022 and were signed by:

Mr J Thorp - Director

1.	STATUTORY INFORMATION

The Promotional Mix 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

Revenue 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

-

15% on reducing balance

Government grants

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2021 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1st April 2021

and 31st March 2022

10,350

134,414

144,764

DEPRECIATION

At 1st April 2021

-

95,064

95,064

Charge for year

-

5,902

5,902

At 31st March 2022

-

100,966

100,966

NET BOOK VALUE

At 31st March 2022

10,350

33,448

43,798

At 31st March 2021

10,350

39,350

49,700

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2021

21,000

Disposals

(3,675

)

At 31st March 2022

17,325

NET BOOK VALUE

At 31st March 2022

17,325

At 31st March 2021

21,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

25,809

9,644

Amounts owed by group undertakings

296,286

314,090

Other debtors

-

13,065

322,095

336,799

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

435,929

434,566

Trade creditors

70,653

131,945

Taxation and social security

17,605

1,068

Other creditors

204,892

224,938

729,079

792,517

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

31,667

40,834

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

834