Instant Promotion (UK) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06685264 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

Instant Promotion (UK) Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr B Smith

Mr J Law

REGISTERED OFFICE:

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

BUSINESS ADDRESS:

Unit 7 Liberty Industrial Park

South Liberty Lane

Bristol

Gloucestershire

BS3 2SU

REGISTERED NUMBER:

06685264 (England and Wales)

ACCOUNTANTS:

AKB Group Limited

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

FIXED ASSETS

Tangible assets

4

108,996

63,121

Investments

5

778

778

109,774

63,899

CURRENT ASSETS

Stocks

6

470,000

207,500

Debtors

7

1,053,688

339,952

Cash at bank and in hand

1,032,920

684,472

2,556,608

1,231,924

CREDITORS

Amounts falling due within one year

8

1,186,790

592,312

NET CURRENT ASSETS

1,369,818

639,612

TOTAL ASSETS LESS CURRENT LIABILITIES

1,479,592

703,511

CREDITORS

Amounts falling due after more than one year

9

(176,000

)

(240,000

)

PROVISIONS FOR LIABILITIES

(20,629

)

(11,872

)

NET ASSETS

1,282,963

451,639

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,282,863

451,539

SHAREHOLDERS' FUNDS

1,282,963

451,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 March 2024 and were signed on its behalf by:

Mr J Law - Director

1.	STATUTORY INFORMATION

Instant Promotion (UK) Ltd 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.

Short leasehold

-

in accordance with the property

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

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 9 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2021

2,118

123,697

29,215

155,030

Additions

-

59,421

-

59,421

At 30 September 2022

2,118

183,118

29,215

214,451

DEPRECIATION

At 1 October 2021

1,482

65,686

24,741

91,909

Charge for year

212

12,215

1,119

13,546

At 30 September 2022

1,694

77,901

25,860

105,455

NET BOOK VALUE

At 30 September 2022

424

105,217

3,355

108,996

At 30 September 2021

636

58,011

4,474

63,121

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2021

and 30 September 2022

778

NET BOOK VALUE

At 30 September 2022

778

At 30 September 2021

778

6.

STOCKS

30.9.22

30.9.21

£

£

Stocks

470,000

207,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

313,880

306,724

Amounts owed by participating interests

-

6,581

Other debtors

739,808

26,647

1,053,688

339,952

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

64,000

64,000

Trade creditors

212,848

228,230

Amounts owed to participating interests

362,713

-

Taxation and social security

504,966

243,897

Other creditors

42,263

56,185

1,186,790

592,312

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans

176,000

240,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

100

Ordinary shares

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2022 and 30 September 2021:

30.9.22

30.9.21

£

£

Mr J Law

Balance outstanding at start of year

-

380,493

Amounts advanced

346,304

-

Amounts repaid

-

(380,493

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

346,304

-

Mr B Smith

Balance outstanding at start of year

-

176,381

Amounts advanced

132,235

-

Amounts repaid

-

(176,381

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

132,235

-

The loan advanced is repayable within 1 year and no interest is chargeable.