Smoking Gun PR Limited - Accounts to registrar - small 16.3

Smoking Gun PR Limited - Accounts to registrar - small 16.3

SMOKING GUN PR LIMITED - Company Information

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REGISTERED NUMBER: 07106145 (England and Wales)











Report of the Directors and

Unaudited Financial Statements

for the Year Ended

31 December 2016

for

Smoking Gun PR Limited

Smoking Gun PR Limited (Registered number: 07106145)






Contents of the Financial Statements
for the Year Ended 31 December 2016




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


Smoking Gun PR Limited

Company Information
for the Year Ended 31 December 2016







DIRECTORS: RM Guttridge
VK Guttridge





REGISTERED OFFICE: 3rd Floor Rational House
64 Bridge Street
Manchester
Lancashire
M3 3BN





REGISTERED NUMBER: 07106145 (England and Wales)





ACCOUNTANTS: Mosley & Co
14 Market Place
Ramsbottom
Bury
Lancashire
BL0 9HT
Page 1
Smoking Gun PR Limited (Registered number: 07106145)

Report of the Directors
for the Year Ended 31 December 2016

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

REVIEW OF BUSINESS
Never resting on its laurels and after six years of top and bottom line growth the Smoking Gun
directors undertook a root and branch review of how the business operates to keep it competitive
in a fast changing industry landscape.
This resulted in restructuring within the organisation, reimagining job roles, line management and
leadership responsibilities.This new operating structure maximises integration between
departments and enhances staff billable utilisation whilst allowing for another period of high
growth.
Clients were assessed to ensure the fit with future business plans, resulting in some contracts
being terminated by the agency. A short term drop in income was expected, however, mid-term the
business would thrive on a more profitable and sustainable client set.
The year ended strongly with a number of new contracts in place and a market returning to
buoyancy, delivering record fee income and profitability levels. This was reflected in improved
rankings in industry league tables and industry recognition.
Since the year-end the business has dramatically benefitted from securing a place on the
"Goldman Sachs10k Small Business" programme with a strong business growth plan in place.
With all senior practitioners returned to work from maternity leave, 2017 is seeing the fruits of last
years' ground work. Already five new clients have been added to the roster with new revenue
streams set to come onboard in the second half of the year via new service launches and possible
M&A activity.
The business continues to invest and develop new ways of showing clients the value of
communications - the Smoking Gun proof - which has been recognised by two global awards for
effective PR campaigns.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2016 to
the date of this report.

RM Guttridge
VK Guttridge

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
2006 relating to small companies.

ON BEHALF OF THE BOARD:





RM Guttridge - Director


24 May 2017

Page 2
Smoking Gun PR Limited (Registered number: 07106145)

Balance Sheet
31 December 2016

31.12.16 31.12.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,913 20,793

CURRENT ASSETS
Debtors 5 142,553 195,974
Cash at bank and in hand 164,823 48,611
307,376 244,585
CREDITORS
Amounts falling due within one year 6 186,103 175,162
NET CURRENT ASSETS 121,273 69,423
TOTAL ASSETS LESS CURRENT
LIABILITIES
139,186
90,216

PROVISIONS FOR LIABILITIES 7 3,582 4,158
NET ASSETS 135,604 86,058

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 135,504 85,958
SHAREHOLDERS' FUNDS 135,604 86,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 notes form part of these financial statements

Page 3 continued...
Smoking Gun PR Limited (Registered number: 07106145)

Balance Sheet - continued
31 December 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 May 2017 and were
signed on its behalf by:





RM Guttridge - Director


The notes form part of these financial statements

Page 4
Smoking Gun PR Limited (Registered number: 07106145)

Notes to the Financial Statements
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Smoking Gun PR 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.
Plant and machinery etc - 25% on reducing balance

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over
the period of the lease.

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.

Page 5 continued...
Smoking Gun PR Limited (Registered number: 07106145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2016 45,823
Additions 3,090
At 31 December 2016 48,913
DEPRECIATION
At 1 January 2016 25,030
Charge for year 5,970
At 31 December 2016 31,000
NET BOOK VALUE
At 31 December 2016 17,913
At 31 December 2015 20,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade debtors 124,239 190,051
Other debtors 18,314 5,923
142,553 195,974

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade creditors 30,028 8,131
Taxation and social security 115,215 106,215
Other creditors 40,860 60,816
186,103 175,162

7. PROVISIONS FOR LIABILITIES
31.12.16 31.12.15
£    £   
Deferred tax 3,582 4,158

Page 6 continued...
Smoking Gun PR Limited (Registered number: 07106145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2016 4,158
Provided during year (576 )
Accelerated Capital Allowances
Balance at 31 December 2016 3,582

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.16 31.12.15
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2016 85,958
Profit for the year 149,546
Dividends (100,000 )
At 31 December 2016 135,504

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.

Page 7