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Action Mailing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2018

Action Mailing Ltd

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 8

Action Mailing Ltd

(Registration number: 3442946)
Balance Sheet as at 31 October 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	16,353	21,090
Investment property	5	480,000	480,000
		496,353	501,090
Current assets
Debtors	6	10,883	27,137
Cash at bank and in hand		7,596	12,000
		18,479	39,137
Creditors: Amounts falling due within one year	7	(16,553)	(30,300)
Net current assets		1,926	8,837
Total assets less current liabilities		498,279	509,927
Creditors: Amounts falling due after more than one year	7	(59,538)	(67,442)
Provisions for liabilities		(3,352)	(4,339)
Net assets		435,389	438,146
Capital and reserves
Called up share capital		200	200
Share premium reserve		144,900	144,900
Revaluation reserve		76,663	76,663
Profit and loss account		213,626	216,383
Total equity		435,389	438,146

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 1

Action Mailing Ltd

(Registration number: 3442946)
Balance Sheet as at 31 October 2018

For the financial year ending 31 October 2018 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 March 2019
 

.........................................

S J Shread
Director

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 2

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Graphic House
Burnley Road Altham
Accrington
Lancashire
BB5 5TX

These financial statements were authorised for issue by the director on 7 March 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Page 3

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicle	25% reducing balance
Office equipment	33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 4

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

Page 5

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 November 2017	44,323	600	89,837	134,760
At 31 October 2018	44,323	600	89,837	134,760
Depreciation
At 1 November 2017	37,395	458	75,817	113,670
Charge for the year	1,898	35	2,804	4,737
At 31 October 2018	39,293	493	78,621	118,407
Carrying amount
At 31 October 2018	5,030	107	11,216	16,353
At 31 October 2017	6,928	142	14,020	21,090

Page 6

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

5	Investment properties

	2018 £
At 1 November	480,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

	Note	2018 £	2017 £
Trade debtors		10,800	-
Amounts owed by group undertakings and undertakings in which the company has a participating interest		-	26,958
Prepayments		-	156
Other debtors		83	23
		10,883	27,137

Page 7

Action Mailing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2018

7

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts	8	8,671	9,425
Trade creditors		886	5,516
Taxation and social security		2,679	9,147
Accruals and deferred income		2,513	2,463
Other creditors		762	3,749
Owed by/(from) participating interests		1,042	-
		16,553	30,300