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REGISTERED NUMBER: 08112757












Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Agency Space UK Limited

Agency Space UK Limited (Registered number: 08112757)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Agency Space UK Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D Atkinson
S Hughes
J R Nicholas





REGISTERED OFFICE: Queens House
55-56 Lincoln's Inn Fields
London
WC2A 3LJ





REGISTERED NUMBER: 08112757





ACCOUNTANTS: PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

Agency Space UK Limited (Registered number: 08112757)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - 37,500
Tangible assets 4 14,091 18,625
14,091 56,125

CURRENT ASSETS
Stocks 563 120,099
Debtors 5 529,384 718,945
Cash at bank and in hand 527,953 1,234,339
1,057,900 2,073,383
CREDITORS
Amounts falling due within one year 6 362,666 725,018
NET CURRENT ASSETS 695,234 1,348,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

709,325

1,404,490

CREDITORS
Amounts falling due after more than one
year

7

125,000

175,000
NET ASSETS 584,325 1,229,490

CAPITAL AND RESERVES
Called up share capital 8 3 3
Share premium 9 76,016 76,016
Retained earnings 9 508,306 1,153,471
SHAREHOLDERS' FUNDS 584,325 1,229,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Agency Space UK Limited (Registered number: 08112757)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




D Atkinson - Director



J R Nicholas - Director


Agency Space UK Limited (Registered number: 08112757)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of six years.

The amortisation period was originally 20 years. The directors have reviewed the useful life of purchased goodwill and are of the opinion that the remaining balance should be written off over 6 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Agency Space UK Limited (Registered number: 08112757)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

1. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 21 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 500,000
AMORTISATION
At 1 January 2022 462,500
Charge for year 37,500
At 31 December 2022 500,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 37,500

Agency Space UK Limited (Registered number: 08112757)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 21,919 284,309 306,228
Additions - 6,554 6,554
At 31 December 2022 21,919 290,863 312,782
DEPRECIATION
At 1 January 2022 21,919 265,684 287,603
Charge for year - 11,088 11,088
At 31 December 2022 21,919 276,772 298,691
NET BOOK VALUE
At 31 December 2022 - 14,091 14,091
At 31 December 2021 - 18,625 18,625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 137,906 545,976
Other debtors 391,478 172,969
529,384 718,945

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 57,016 249,217
Taxation and social security 51,196 89,551
Other creditors 204,454 336,250
362,666 725,018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.22 31.12.21
£    £   
Other creditors 125,000 175,000

Agency Space UK Limited (Registered number: 08112757)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
2,818 Share capital 0.001 p 3 3

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2022 1,153,471 76,016 1,229,487
Deficit for the year (645,165 ) (645,165 )
At 31 December 2022 508,306 76,016 584,322

10. ENTERPRISE MANAGEMENT INCENTIVE SCHEME

The company operates an enterprise management incentive scheme in order to reward and retain staff. At the balance sheet date there were 818 ordinary shares under option.