David Pearson Advertising Limited Filleted accounts for Companies House (small and micro)

David Pearson Advertising Limited Filleted accounts for Companies House (small and micro)

DAVID PEARSON ADVERTISING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02853431
DAVID PEARSON ADVERTISING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2020
DAVID PEARSON ADVERTISING LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2020
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
DAVID PEARSON ADVERTISING LIMITED
BALANCE SHEET
30 September 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
6
358,482
358,482
Investments
7
100
100
------------
------------
358,582
358,582
Current assets
Debtors
8
601
1,036
Cash at bank
3,551
2,131
------------
------------
4,152
3,167
Creditors: amounts falling due within one year
9
( 5,329)
( 4,690)
------------
------------
Net current liabilities
( 1,177)
( 1,523)
------------
------------
Total assets less current liabilities
357,405
357,059
------------
------------
Net assets
357,405
357,059
------------
------------
Capital and reserves
Called up share capital
10
2
2
Profit and loss account
357,403
357,057
------------
------------
Shareholders funds
357,405
357,059
------------
------------
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 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 profit and loss account has not been delivered.
For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 November 2020 , and are signed on behalf of the board by:
J D S Pearson
Director
Company registration number: 02853431
DAVID PEARSON ADVERTISING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, Main Road, Astwood, Buckinghamshire, MK16 9JS.
2. Statement of compliance
These financial statements 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the value of goods sold and services provided net of value added tax.
Deferred taxation
Deferred taxation is provided on the liability method at anticipated future rates of taxation on differences arising from the inclusion of income and expenditure in periods different for accounts and taxation purposes.
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:
Office equipment
-
33% reducing balance
No depreciation is provided on the property held for investment. SSAP 19 requires such properties to be included in the balance sheet at their open market value. However, the director considers that to comply with this requirement would involve unjustifiable expense, and the properties are continuing to be stated at cost.
Pension costs
Contribution to the defined contribution pension scheme are charged to the profit and loss account when paid.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Turnover
The turnover is derived entirely within the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).
Retirement benefits are accruing to the director under a defined contribution pension scheme.
6. Tangible assets
Investment property
Office equipment
Total
£
£
£
Cost
At 1 October 2019 and 30 September 2020
358,482
3,908
362,390
------------
------------
------------
Depreciation
At 1 October 2019 and 30 September 2020
–
3,908
3,908
------------
------------
------------
Carrying amount
At 30 September 2020
358,482
–
358,482
------------
------------
------------
At 30 September 2019
358,482
–
358,482
------------
------------
------------
7. Investments
Other investments other than loans
£
Cost
At 1 October 2019 and 30 September 2020
100
------------
Impairment
At 1 October 2019 and 30 September 2020
–
------------
Carrying amount
At 30 September 2020
100
------------
At 30 September 2019
100
------------
The company owns the whole of the issued share capital of The Direct Response Television Centre Limited at a cost of £100. The company is dormant and had net assets of £100 as at 30 September 2018 (2017: £100).
8. Debtors
2020
2019
£
£
Trade debtors
601
1,036
------------
------------
9. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
288
1,001
Accruals and deferred income
3,426
3,097
Social security and other taxes
15
492
Director loan accounts
1,500
–
Other creditors
100
100
------------
------------
5,329
4,690
------------
------------
10. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
------------
------------
------------
------------
11. Related party transactions
The company is controlled by the JDS Pearson Discretionary Trust.