ACCOUNTS - Final Accounts preparation

SUPER AD GROUP LIMITED - Company Information

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Registered number: 11302961

SUPER AD GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020

SUPER AD GROUP LIMITED

REGISTERED NUMBER: 11302961

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	2,524		2,133
Cash at bank and in hand	5	2,168		11,232
		4,692		13,365
Creditors: amounts falling due within one year	6	(4,592)		(21,731)
Net current assets/(liabilities)			100		(8,366)
Total assets less current liabilities			100		(8,366)

Net assets/(liabilities)			100		(8,366)

Capital and reserves
Called up share capital	100	100
Profit and loss account	-	(8,466)
	100	(8,366)

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SUPER AD GROUP LIMITED

REGISTERED NUMBER: 11302961

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2020

The director considers 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 director acknowledges his 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 income statement 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 by:

................................................

Richard Rogers

Director

Date: 20 December 2021

The notes on pages 3 to 5 form part of these financial statements.

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SUPER AD GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

Super Ad Group Limited is a private company limited by shares incorporated in England and Wales.
The address of the registered office is 2 London Wall Place, London, EC2Y 5AU.

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

Going concern

As at year end, the company has made a profit of £8,466 (2019 :£8,466 (loss)) and has net assets of £100 (2019: Net liabilities £8,366). The director has confirmed that there are sufficient resources in place for the company to conduct its business in the foreseeable future therefore it's appropriate to prepare the accounts on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, amounts are rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income statement except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Income statement within 'other operating income'.

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SUPER AD GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

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SUPER AD GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Debtors

					2020	2019
					£	£


Other debtors	1,574	1,900
Accrued income	950	233
	2,524	2,133

5.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	2,168	11,232
	2,168	11,232

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	1,592	612
Other creditors	-	20,119
Accruals and deferred income	3,000	1,000
	4,592	21,731

7.	Related party transactions
	At the year end, there was an amount of £1,574 (2019: £1,900) due from the director. The amount is interest free and repayable on demand.

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