Proactive Marketing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03926779 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2017 TO 30 SEPTEMBER 2018

FOR

PROACTIVE MARKETING LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

G B Stevens

SECRETARY:

J A Stevens

REGISTERED OFFICE:

Victoria House

Victoria Road

Aldershot

Hampshire

GU11 1EJ

REGISTERED NUMBER:

03926779 (England and Wales)

ACCOUNTANTS:

Drake & Co

Chartered Accountants

Drake House

80 Guildford Street

Chertsey

Surrey

KT16 9AD

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Proactive Marketing Limited for the period ended 30 September 2018 which comprise the

Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Proactive Marketing Limited in accordance with the terms of our engagement letter dated 23 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Proactive Marketing Limited and state those matters that we have agreed to state to the director of Proactive Marketing Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Proactive Marketing Limited and its director for our work or for this report.

It is your duty to ensure that Proactive Marketing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Proactive Marketing Limited. You consider that Proactive Marketing Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Proactive Marketing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Drake & Co

Chartered Accountants

Drake House

80 Guildford Street

Chertsey

Surrey

KT16 9AD

23 October 2018

FIXED ASSETS

Tangible assets

4

-

4,053

CURRENT ASSETS

Debtors

5

6,497

155,056

Cash at bank

2,790,770

2,567,645

2,797,267

2,722,701

CREDITORS

Amounts falling due within one year

6

152,348

617,243

NET CURRENT ASSETS

2,644,919

2,105,458

TOTAL ASSETS LESS CURRENT LIABILITIES

2,644,919

2,109,511

PROVISIONS FOR LIABILITIES

-

613

NET ASSETS

2,644,919

2,108,898

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,644,819

2,108,798

SHAREHOLDERS' FUNDS

2,644,919

2,108,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 October 2018 and were signed by:

G B Stevens - Director

1.	STATUTORY INFORMATION

Proactive Marketing 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

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard 102 (1A), the Financial Reporting Standard applicable in the UK and the Republic

of Ireland and the Companies Act 2006.

The transition date to FRS 102 (1A) was 1st May 2015.

Information on the impact of first time adoption of FRS 102 (1A) is given in note 5.

Turnover and revenue recognition

Turnover represents sales and services provided, net of value added tax.

Turnover represents revenue earned under a wide variety of contracts including those to provide professional

services and advice to third parties.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in

exchange for its performance under those contracts.

It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients,

including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment

takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors, under "other debtors", prebilled revenue is included in creditors under

"other creditors".

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition

necessary for it to be operated in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are

recognised in the Income Statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans

to or from related parties.

Debt instruments (other than those wholly repayable or receivable on demand or within one year), including

loans and other accounts receivable and payable, are initially measured at present value of the future cash flows

and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to

be received. However if the arrangements of a short-term instrument constitute a financing transaction, like the

payment of a trade debt deferred beyond normal normal business terms or financed at a rate of interest that is not

a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is

measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar

debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the at the end of each reporting

period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in the Statement of Income and Retained Earnings.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 period 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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of

Financial position date and carried forward to future periods. This is measured at at the undiscounted salary cost

of the future holiday entitlement do accrued at the Statement of Financial Position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2017 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

43,875

Disposals

(43,875

)

At 30 September 2018

-

DEPRECIATION

At 1 May 2017

39,822

Eliminated on disposal

(39,822

)

At 30 September 2018

-

NET BOOK VALUE

At 30 September 2018

-

At 30 April 2017

4,053

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

3,741

111,965

Other debtors

2,756

43,091

6,497

155,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

27,304

Taxation and social security

148,701

126,175

Other creditors

3,647

463,764

152,348

617,243

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

-

40,605

Between one and five years

-

36,228

-

76,833

8.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of

the company in an independently administered Fund. The pension charge represents contributions payable by the

company to the Fund for staff members and in the period amounted to £600 (2017: £2,102). There are no

prepaid or accrued premiums at the balance sheet date.

9.	CONTINGENT LIABILITIES

No contingent liabilities exist.

10.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

-

-

11.	ULTIMATE CONTROLLING PARTY