Guerilla Communications Limited Filleted accounts for Companies House (small and micro)

GUERILLA COMMUNICATIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03837083

GUERILLA COMMUNICATIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2020

GUERILLA COMMUNICATIONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	5		59,855		80,530

Current assets

Debtors	6	112,262	241,979
Cash at bank and in hand		412,990	375,886
		------------	------------
		525,252	617,865

Creditors: amounts falling due within one year	7	( 138,139)		( 223,646)
		------------		------------
Net current assets			387,113		394,219
			------------		------------
Total assets less current liabilities			446,968		474,749

Creditors: amounts falling due after more than one year	8		( 8,200)		( 24,666)

Provisions	( 6,447)	( 9,487)
	------------	------------
Net assets	432,321	440,596
	------------	------------

Capital and reserves

Called up share capital	6	6
Profit and loss account	432,315	440,590
	------------	------------
Shareholders funds	432,321	440,596
	------------	------------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2020 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 .

GUERILLA COMMUNICATIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 25 November 2020 , and are signed on behalf of the board by:

Mr J N Allen

Director

Company registration number: 03837083

GUERILLA COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 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 4 St James Street, Newcastle upon Tyne, NE1 4NF.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion, when the stage of completion, costs incurred, and costs to complete, can be measured reliably. The stage of completion is calculated by comparing costs incurred to total estimated costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses incurred where it is probable they will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Short leasehold property	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Government grants

Government grants are not recognised until there is a reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which they become receivable.

Operating lease commitments

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Financial instruments

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Research and development policy

Research expenditure is written off in the period in which it is incurred.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2019: 14 ).

5. Tangible assets

	Short leasehold property	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2019	66,744	57,490	126,022	250,256
Additions	–	–	7,339	7,339
	------------	------------	------------	------------
At 31 March 2020	66,744	57,490	133,361	257,595
	------------	------------	------------	------------
Depreciation
At 1 April 2019	63,193	13,852	92,681	169,726
Charge for the year	787	14,373	12,854	28,014
	------------	------------	------------	------------
At 31 March 2020	63,980	28,225	105,535	197,740
	------------	------------	------------	------------
Carrying amount
At 31 March 2020	2,764	29,265	27,826	59,855
	------------	------------	------------	------------
At 31 March 2019	3,551	43,638	33,341	80,530
	------------	------------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2020	29,265
	------------
At 31 March 2019	43,638
	------------

6. Debtors

	2020	2019
	£	£
Trade debtors	66,888	184,186
Other debtors	45,374	57,793
	------------	------------
	112,262	241,979
	------------	------------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	65,458	52,588
Corporation tax	–	38,576
Social security and other taxes	21,198	45,065
Other creditors	51,483	87,417
	------------	------------
	138,139	223,646
	------------	------------

Included in other creditors is £107 due to a director (2019: £27). The loan is interest free and repayable on demand.

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Other creditors	8,200	24,666
	------------	------------

9. Other financial commitments

At 31 March 2020, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £111,812 (2019: £170,767).

10. Related party transactions

Other than the directors loan account disclosed in note 7, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.