REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018 |
FOR |
THE TOGETHER AGENCY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018 |
FOR |
THE TOGETHER AGENCY LIMITED |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 28 February 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE TOGETHER AGENCY LIMITED |
COMPANY INFORMATION |
for the year ended 28 February 2018 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 2 |
Charnwood Edge Business Park |
Syston Road |
Leicester |
LE7 4UZ |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
BALANCE SHEET |
28 February 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
BALANCE SHEET - continued |
28 February 2018 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 28 February 2018 |
1. | STATUTORY INFORMATION |
The Together Agency Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Rendering of goods |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the |
goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be |
measured reliably, it is probable that the economic benefits associated with the transaction will flow to the |
entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
lives, using either a straight line or reducing balance method, as indicated below. |
Depreciation is provided on the following basis: |
Leasehold alterations | Straight line over the remainder of the lease |
Fixtures, fittings & equipment | 20% reducing balance |
Computer equipment | 33% on cost |
The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 February 2018 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
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 rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market rate |
of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
any impairment. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and |
depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are |
included in creditors net of the finance charge allocated to future periods. The finance element of the rental |
payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net |
obligation outstanding in each period. |
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. |
Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of |
the leased asset and recognised on a straight line basis over the lease term. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 February 2018 |
4. | TANGIBLE FIXED ASSETS |
Fixtures, |
Leasehold | fittings & | Computer |
alterations | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2017 |
Additions |
At 28 February 2018 |
DEPRECIATION |
At 1 March 2017 |
Charge for year |
At 28 February 2018 |
NET BOOK VALUE |
At 28 February 2018 |
At 28 February 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | - | 20,000 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans - 1-2 years |
Hire purchase contracts |
THE TOGETHER AGENCY LIMITED (REGISTERED NUMBER: 05694276) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 28 February 2018 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2018 | 2017 |
£ | £ |
Hire purchase contracts | 17,436 | 29,183 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary £1 shares | 1 | 1 | 1 |
Ordinary A £1 shares | 1 | 1 | 1 |
Ordinary B £1 shares | 1 | 1 | 1 |
3 | 3 |
10. | OTHER FINANCIAL COMMITMENTS |
Operating lease commitments not included in the balance sheet amount to £130,332 (2017 - £43,444). |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 28 February 2018 and |
28 February 2017: |
2018 | 2017 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |