Marketing Town (Group) Ltd Filleted accounts for Companies House (small and micro)

MARKETING TOWN (GROUP) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12598464

Marketing Town (Group) Ltd

Filleted Unaudited Accounts

30 June 2021

Marketing Town (Group) Ltd

Statement of Financial Position

30 June 2021

	30 Jun 21
Note	£

Fixed assets

Tangible assets	5	1,510
Investments	6	886,242
		---------
		887,752

Current assets

Debtors	7	39,181
Cash at bank and in hand		54,640
		--------
		93,821

Creditors: amounts falling due within one year	8	( 581,560)
		---------
Net current liabilities		( 487,739)
		---------
Total assets less current liabilities		400,013

Creditors: amounts falling due after more than one year	9	( 239,791)
		---------
Net assets		160,222
		---------

Capital and reserves

Called up share capital	10	1,000
Share premium account		880,827
Profit and loss account		( 721,605)
		---------
Shareholders funds		160,222
		---------

These accounts 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.

For the period 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 accounts for the period 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 accounts .

Marketing Town (Group) Ltd

Statement of Financial Position (continued)

30 June 2021

These accounts were approved by the board of directors and authorised for issue on 12 May 2022 , and are signed on behalf of the board by:

P N Phelps

Director

Company registration number: 12598464

Marketing Town (Group) Ltd

Notes to the Accounts

Period from 12 May 2020 to 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 10 Orange Street, London, WC2H 7DQ.

2. Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

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 as a finance cost 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 period amounted to 7 .

5. Tangible assets

	Equipment
	£
Cost
At 12 May 2020	–
Additions	1,699
	-------
At 30 June 2021	1,699
	-------
Depreciation
At 12 May 2020	–
Charge for the period	189
	-------
At 30 June 2021	189
	-------
Carrying amount
At 30 June 2021	1,510
	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 12 May 2020	–
Additions	886,242
	---------
At 30 June 2021	886,242
	---------
Impairment
At 12 May 2020 and 30 June 2021	–
	---------

Carrying amount
At 30 June 2021	886,242
	---------

7. Debtors

	30 Jun 21
	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	31,100
Other debtors	8,081
	--------
	39,181
	--------

8. Creditors: amounts falling due within one year

	30 Jun 21
	£
Trade creditors	12,430
Amounts owed to group undertakings and undertakings in which the company has a participating interest	325,448
Social security and other taxes	73,175
Other creditors	170,507
	---------
	581,560
	---------

9. Creditors: amounts falling due after more than one year

	30 Jun 21
	£
Other creditors	239,791
	---------

10. Called up share capital

Issued, called up and fully paid

	30 Jun 21
	No.	£
Ordinary A shares of £ 1 each	856	856
Ordinary B shares of £ 1 each	144	144
	-------	-------
	1,000	1,000
	-------	-------

During the period 855 Ordinary shares were issued a resolution was passed to re-designate them to Ordinary A shares. A further 1 Ordinary A share and 144 Ordinary B shares where issued. The Ordinary A shares of £1 each and Ordinary B shares of £1 each rank pari passu in all respects expect with regards to dividend rights. The directors may declare different dividends on each class of share, or declare dividends on one class of share but not on the others.

11. Related party transactions

During the period the company incurred the following transactions with group members that are not wholly owned: Amounts written off as bad debts during the period £841,050. Management charges receivable £44,000.