Company Registration No. 02098313 (England and Wales)
Automotive PR Limited
Unaudited accounts
for the year ended 31 December 2019
Automotive PR Limited
Unaudited accounts
Contents
Automotive PR Limited
Company Information
for the year ended 31 December 2019
Directors
Marco Ferrari
Mustapha Kortach
Belle Moss
Company Number
02098313 (England and Wales)
Registered Office
31 Union Street
London
SE1 1SD
Automotive PR Limited
Statement of financial position
as at
31 December 2019
Tangible assets
1,811
2,570
Cash at bank and in hand
46,829
99,325
Creditors: amounts falling due within one year
(181,520)
(146,102)
Net current assets
14,478
1,595
Called up share capital
100
100
Profit and loss account
16,189
4,065
Shareholders' funds
16,289
4,165
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2020 and were signed on its behalf by
Marco Ferrari
Director
Company Registration No. 02098313
Automotive PR Limited
Notes to the Accounts
for the year ended 31 December 2019
Automotive PR Limited is a private company, limited by shares, registered in England and Wales, registration number 02098313. The registered office is 31 Union Street, London, SE1 1SD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33% straight line
Intangible fixed assets are included at cost less accumulated amortisation. Intangible fixed assets are wriitn off over their expected economic lives of 5 years.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost.
Automotive PR Limited
Notes to the Accounts
for the year ended 31 December 2019
4
Intangible fixed assets
Other
At 31 December 2019
7,782
At 31 December 2019
7,782
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2019
30,489
68,464
98,953
At 31 December 2019
30,489
68,464
98,953
At 1 January 2019
29,165
67,218
96,383
Charge for the year
331
428
759
At 31 December 2019
29,496
67,646
97,142
At 31 December 2019
993
818
1,811
At 31 December 2018
1,324
1,246
2,570
Trade debtors
80,401
16,196
Amounts due from group undertakings etc.
68,768
13,426
7
Creditors: amounts falling due within one year
2019
2018
Amounts owed to group undertakings and other participating interests
104,178
135,428
Taxes and social security
-
10,672
Automotive PR Limited
Notes to the Accounts
for the year ended 31 December 2019
8
Transactions with related parties
At 31 December 2019 Automotive PR Limited was owed £68,768 (2018: £13,426) and owed £104,178 (2018: £135,428) to connected companies with common ownership. The loans are interest free and there are no fixed terms for repayment. During the year Automotive PR Limited wrote back £12,500 to the profit and loss account in relation to the loans.
The company is under the control of Orb Communications Limited and under the ultimate control of Orb MSV Limited.
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Average number of employees
During the year the average number of employees was 3 (2018: 3).