Astute Marketeers Limited 30/06/2021 iXBRL

Astute Marketeers Limited 30/06/2021 iXBRL

ASTUTE MARKETEERS LTD - Company Information

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2 30/06/2021 2021-06-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2020-07-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 08555740 2020-07-01 2021-06-30 08555740 2021-06-30 08555740 2020-06-30 08555740 2019-07-01 2020-06-30 08555740 2020-06-30 08555740 2019-06-30 08555740 core:FurnitureFittingsToolsEquipment 2020-07-01 2021-06-30 08555740 bus:Director1 2020-07-01 2021-06-30 08555740 bus:Director2 2020-07-01 2021-06-30 08555740 core:FurnitureFittingsToolsEquipment 2020-06-30 08555740 core:FurnitureFittingsToolsEquipment 2021-06-30 08555740 core:RetainedEarningsAccumulatedLosses 2019-07-01 2020-06-30 08555740 core:RetainedEarningsAccumulatedLosses 2020-07-01 2021-06-30 08555740 core:WithinOneYear 2021-06-30 08555740 core:WithinOneYear 2020-06-30 08555740 core:AfterOneYear 2021-06-30 08555740 core:AfterOneYear 2020-06-30 08555740 core:ShareCapital 2021-06-30 08555740 core:ShareCapital 2020-06-30 08555740 core:RetainedEarningsAccumulatedLosses 2021-06-30 08555740 core:RetainedEarningsAccumulatedLosses 2020-06-30 08555740 core:ShareCapital 2019-06-30 08555740 core:RetainedEarningsAccumulatedLosses 2019-06-30 08555740 core:FurnitureFittingsToolsEquipment 2020-06-30 08555740 bus:Director1 2020-06-30 08555740 bus:Director1 2021-06-30 08555740 bus:Director2 2020-06-30 08555740 bus:Director2 2021-06-30 08555740 bus:Director1 2019-06-30 08555740 bus:Director1 2020-06-30 08555740 bus:Director2 2019-06-30 08555740 bus:Director2 2020-06-30 08555740 bus:Director1 2019-07-01 2020-06-30 08555740 bus:Director2 2019-07-01 2020-06-30 08555740 bus:SmallEntities 2020-07-01 2021-06-30 08555740 bus:AuditExempt-NoAccountantsReport 2020-07-01 2021-06-30 08555740 bus:FullAccounts 2020-07-01 2021-06-30 08555740 bus:SmallCompaniesRegimeForAccounts 2020-07-01 2021-06-30 08555740 bus:PrivateLimitedCompanyLtd 2020-07-01 2021-06-30 08555740 core:AllAssociates core:DividendsPaidTransactions 2020-07-01 2021-06-30
Company registration number: 08555740
Astute Marketeers Limited
Unaudited filleted financial statements
30 June 2021
Astute Marketeers Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Astute Marketeers Limited
Statement of financial position
30 June 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 575 676
_______ _______
575 676
Current assets
Debtors 6 59,170 49,227
Cash at bank and in hand 37,523 39,480
_______ _______
96,693 88,707
Creditors: amounts falling due
within one year 7 ( 62,088) ( 54,258)
_______ _______
Net current assets 34,605 34,449
_______ _______
Total assets less current liabilities 35,180 35,125
Creditors: amounts falling due
after more than one year 8 ( 35,000) ( 35,000)
_______ _______
Net assets 180 125
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 80 25
_______ _______
Shareholders funds 180 125
_______ _______
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 December 2021 , and are signed on behalf of the board by:
H P Robinson
Director
Company registration number: 08555740
Astute Marketeers Limited
Statement of changes in equity
Year ended 30 June 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2019 100 86 186
Profit for the year 18,839 18,839
_______ _______ _______
Total comprehensive income for the year - 18,839 18,839
Dividends paid and payable ( 18,900) ( 18,900)
_______ _______ _______
Total investments by and distributions to owners - ( 18,900) ( 18,900)
_______ _______ _______
At 30 June 2020 and 1 July 2020 100 25 125
Profit for the year 61,555 61,555
_______ _______ _______
Total comprehensive income for the year - 61,555 61,555
Dividends paid and payable ( 61,500) ( 61,500)
_______ _______ _______
Total investments by and distributions to owners - ( 61,500) ( 61,500)
_______ _______ _______
At 30 June 2021 100 80 180
_______ _______ _______
Astute Marketeers Limited
Notes to the financial statements
Year ended 30 June 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 Broadmead Road, Woodford Green, Essex, IG8 0AY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2020 and 30 June 2021 1,880 1,880
_______ _______
Depreciation
At 1 July 2020 1,204 1,204
Charge for the year 101 101
_______ _______
At 30 June 2021 1,305 1,305
_______ _______
Carrying amount
At 30 June 2021 575 575
_______ _______
At 30 June 2020 676 676
_______ _______
6. Debtors
2021 2020
£ £
Trade debtors 19,632 11,100
Other debtors 39,538 38,127
_______ _______
59,170 49,227
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 3,752 110
Corporation tax 40,606 41,998
Social security and other taxes 14,030 9,650
Other creditors 3,700 2,500
_______ _______
62,088 54,258
_______ _______
8. Creditors: amounts falling due after more than one year
2021 2020
£ £
Other creditors 35,000 35,000
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
H P Robinson 9,016 6,911 - 15,927
K Turner-Dave 27,376 - ( 5,500) 21,876
_______ _______ _______ _______
36,392 6,911 ( 5,500) 37,803
_______ _______ _______ _______
2020
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
H P Robinson ( 2,633) 40,320 ( 28,671) 9,016
K Turner-Dave 9,489 39,229 ( 21,342) 27,376
_______ _______ _______ _______
6,856 79,549 ( 50,013) 36,392
_______ _______ _______ _______
10. Related party transactions
Dividends totalling £ 61,500 were paid to the directors of the company.
11. Controlling party
The ultimate controlling party is Mr H P Robinson by virtue of his majority shareholding.