TMB GeoMarketing Limited Company Accounts

TMB GEOMARKETING LIMITED - Company Information

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Company Registration Number: 07700686

TMB GeoMarketing Limited

Filleted Unaudited Financial Statements

31 December 2016

TMB GeoMarketing Limited

Financial Statements

Year Ended 31st December 2016

Contents	Pages

Statement of Financial Position	1 to 2

Notes to the Financial Statements	3 to 7

TMB GeoMarketing Limited

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed Assets

Intangible assets	5	40,327	94,734
Tangible assets	6	1,102	2,527
		--------	--------
		41,429	97,261

Current Assets

Debtors	7	310,093	156,840
Cash at bank and in hand		79,542	3,845
		---------	---------
		389,635	160,685

Creditors: amounts falling due within one year	8	( 428,923)		( 330,316)
		---------		---------
Net Current Liabilities			( 39,288)	( 169,631)
			--------	---------
Total Assets Less Current Liabilities			2,141	( 72,370)
			-------	--------
Net Assets/(Liabilities)			2,141	( 72,370)
			-------	--------

Capital and Reserves

Called up share capital		100	100
Profit and loss account	9	2,041	( 72,470)
		-------	--------
Members Funds/(Deficit)		2,141	( 72,370)
		-------	--------

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 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 year ending 31st December 2016 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 .

TMB GeoMarketing Limited

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 20 September 2017 , and are signed on behalf of the board by:

R J Kempson

Director

Company registration number: 07700686

TMB GeoMarketing Limited

Notes to the Financial Statements

Year Ended 31st December 2016

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Milton Heath House, Westcott Road, Dorking, Surrey, RH4 3NB.

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 the Republic of Ireland'.

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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1st January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign Currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible Assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Data and software	-	25% straight line basis

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

	Computer equipment	-	25% straight line basis

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. Debt instruments are subsequently measured at amortised cost. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

4. Employee Numbers

The average number of persons employed by the company during the year, including the directors, amounted to 7 (2015: 7 ).

5. Intangible Assets

	Development costs
	£

Cost
At 1 Jan 2016 and 31 Dec 2016	236,403
	---------
Amortisation
At 1st January 2016	141,669
Charge for the year	54,407
	---------
At 31st December 2016	196,076
	---------
Carrying amount
At 31st December 2016	40,327
	---------
At 31st December 2015	94,734
	---------

6. Tangible Assets

	Equipment	Total
	£	£

Cost
At 1 Jan 2016 and 31 Dec 2016	5,833	5,833
	-------	-------
Depreciation
At 1st January 2016	3,306	3,306
Charge for the year	1,425	1,425
	-------	-------
At 31st December 2016	4,731	4,731
	-------	-------
Carrying amount
At 31st December 2016	1,102	1,102
	-------	-------
At 31st December 2015	2,527	2,527
	-------	-------

7. Debtors

	2016	2015
	£	£

Trade debtors	292,956	113,053
Corporation tax repayable	9,306	21,338
Other debtors	7,831	22,449
	---------	---------
	310,093	156,840
	---------	---------

8. Creditors: amounts falling due within one year

	2016	2015
	£	£

Trade creditors	7,719	5,021
Accruals and deferred income	14,244	1,500
Social security and other taxes	67,053	72,257
Director loan accounts	16,970	–
Other creditors	322,937	251,538
	---------	---------
	428,923	330,316
	---------	---------

9. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Related Party Transactions

The company was under the control of the directors throughout the period. Included in Other Debtors is an interest free loan to TMB Marketing & Communications Limited, a company under the common control of the director R J Kempson . The balance outstanding at the balance sheet date was nil (2015: £20,827). Included in Other Creditors is an interest free loan from The Motivation Business Holding Company Limited, a company under the common control of the director R J Kempson . The balance outstanding at the balance sheet date was £322,937 (2015: £251,538). This loan has been provided with no formal repayment terms. In addition the company paid £100,000 (2015: nil) to The Motivation Business Holding Company Limited in respect of management services provided.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st January 2015.

No transitional adjustments were required in equity or profit or loss for the year.