Company Registration No. 04275708 (England and Wales)
THE CAMPAIGN COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
THE CAMPAIGN COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
THE CAMPAIGN COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,472
6,438
Current assets
Debtors
5
248,293
160,462
Cash at bank and in hand
35,152
641
283,445
161,103
Creditors: amounts falling due within one year
6
(235,844)
(280,991)
Net current assets/(liabilities)
47,601
(119,888)
Total assets less current liabilities
53,073
(113,450)
Creditors: amounts falling due after more than one year
7
(55,852)
(132,063)
Provisions for liabilities
(1,040)
(1,223)
Net liabilities
(3,819)
(246,736)
Capital and reserves
Called up share capital
7,000
7,000
Capital redemption reserve
777
777
Profit and loss reserves
9
(11,596)
(254,513)
Total equity
(3,819)
(246,736)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
The notes on pages 3 - 7 form an integral part of these financial statements.
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime
and FRS102 Section 1A
.
THE CAMPAIGN COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2019
31 December 2019
2019
2018
Notes
£
£
£
£
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2020 and are signed on its behalf by:
A Evans
Director
Company Registration No. 04275708
THE CAMPAIGN COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
The Campaign Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Suffolk House EAST entrance, 2nd Floor - Suite 4, George Street, Croydon, CR0 1PE.
The principal activity of the company continued to be that of working in partnership with private business, public sector bodies and voluntary organisation to enhance their ability to provide the services and products that carry the support of the community.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The accounts are prepared on the basis that the directors of the company have agreed they will not
true
withdraw funds until the company has the available profits and cash flow and continue to support the
company for the foreseeable future.
At the balance sheet date, liabilities exceed assets by £3,819 (2018 : £246,736). However the financial
statements have been prepared on a going concern basis as the company has the continuing support from
its director Ms. Aline Evans, The director is therefore satisfied that the financial statements have been correctly prepared on the going concern basis.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Financial instruments
The company only enters into basic financial instrument transactions that results in the recognition od financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares.
THE CAMPAIGN COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
1.7
Provisions for liability
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earning in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
1.8
Pension
Defined contribution pension plan
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or
loss on a straight line basis over the term of the relevant lease except where another more systematic
basis is more representative of the time pattern in which economic benefits from the lease s asset are
consumed.
2
Employees
2019
2018
Number
Number
Director
1
1
Employees
11
14
12
15
THE CAMPAIGN COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
3
Taxation
2019
2018
£
£
Deferred tax
Origination and reversal of timing differences
(183)
(176)
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 January 2019
19,739
83,794
103,533
Additions
407
2,665
3,072
At 31 December 2019
20,146
86,459
106,605
Depreciation and impairment
At 1 January 2019
19,285
77,810
97,095
Depreciation charged in the year
270
3,768
4,038
At 31 December 2019
19,555
81,578
101,133
Carrying amount
At 31 December 2019
591
4,881
5,472
At 31 December 2018
454
5,984
6,438
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
210,662
43,785
Other debtors
555
1,125
Prepayments and accrued income
37,076
115,552
248,293
160,462
The director considers the carrying value of trade and other receivables approximate to their fair value.
THE CAMPAIGN COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 6 -
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
-
30,717
Obligations under finance leases
-
1,269
Other borrowings
22,210
20,109
Trade creditors
61,307
119,357
Taxation and social security
74,333
27,555
Other creditors
53,220
56,531
Accruals and deferred income
24,774
25,453
235,844
280,991
The director considers the carrying amounts of current liabilities approximate to their fair values.
7
Creditors: amounts falling due after more than one year
2019
2018
Notes
£
£
Other borrowings
55,852
132,063
The director considers the carrying amounts of long term liabilities approximate to their fair values.
8
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £26,390 (2018- £19,405)
9
Reserves
Profit and loss reserves
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2019
2018
£
£
Within one year
26,693
26,506
Between two and five years
37,370
64,063
64,063
90,569
THE CAMPAIGN COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 7 -
11
Events after the reporting date
Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.”
12
Related party transactions
At the balance sheet date, included in other creditors are amounts payable to Mr D Evans of £50,000 (2018 - £50,000).
At the balance sheet date, included in other borrowings are amounts payable to Mr D Evans of £46,608 (2018 - £100,608).