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REGISTERED NUMBER: 03064130 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SCATTERGOODS AGENCY LIMITED

SCATTERGOODS AGENCY LIMITED (REGISTERED NUMBER: 03064130)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SCATTERGOODS AGENCY LIMITED

COMPANY INFORMATION
For The Year Ended 29 February 2024







DIRECTORS: I P Scattergood
A Vicos
D M C Charity





REGISTERED OFFICE: Thursley House
53 Station Road
Guildford
Bramley
Surrey
GU4 8HA





REGISTERED NUMBER: 03064130 (England and Wales)

SCATTERGOODS AGENCY LIMITED (REGISTERED NUMBER: 03064130)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,880 1,750

CURRENT ASSETS
Debtors 276,428 316,136
Cash at bank and in hand 12,137 33,027
288,565 349,163
CREDITORS
Amounts falling due within one year 196,740 239,325
NET CURRENT ASSETS 91,825 109,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,705

111,588

CREDITORS
Amounts falling due after more than one year (48,915 ) (89,143 )

PROVISIONS FOR LIABILITIES (3,220 ) -
NET ASSETS 55,570 22,445

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 45,570 12,445
SHAREHOLDERS' FUNDS 55,570 22,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:




A Vicos - Director


SCATTERGOODS AGENCY LIMITED (REGISTERED NUMBER: 03064130)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024


1. STATUTORY INFORMATION

Scattergoods Agency Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents sales of recruitment and employment services, excluding value added tax, performed during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer software - 20% on cost
Furniture and equipment - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants are recognised in the profit or loss over the period in which the entity recognises related costs for which the grants are intended to compensate.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Taxation
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.

Current tax assets and liabilities are not discounted and are 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.

Hire purchase and leasing commitments
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. Payments are apportioned between the finance charge and the capital amount and the related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the income statement on a straight line basis over the period of the lease.

SCATTERGOODS AGENCY LIMITED (REGISTERED NUMBER: 03064130)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate.

Contributions payable to the directors' pension schemes are charged to the profit and loss account in the period to which they relate.

Invoice discounting
The company has an arrangement under which it discounts sales invoices. The financial statements disclose gross debts as a current asset and the funds advanced by the discounter as a current liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 112 (2023 - 98 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 40,452
Additions 18,013
At 29 February 2024 58,465
DEPRECIATION
At 1 March 2023 38,702
Charge for year 3,883
At 29 February 2024 42,585
NET BOOK VALUE
At 29 February 2024 15,880
At 28 February 2023 1,750

5. SECURED DEBTS

Finance leases are secured on the assets to which they relate.

A charge containing fixed and floating charges was created on 9 February 2022 by RBS Invoice Finance Limited to secure amounts due under the invoice discounting agreement.

6. BANK LOANS

The company applied for and received a £200,000 loan via the government-backed Coronavirus Business Interruption Loan Scheme (CBILS). The 72 month loan term started when the loan was drawn (29 May 2020) and interest is charged at 2.17% p.a. over the base rate.

The scheme provides the lender with a government-backed guarantee against the outstanding balance of the facility, however the business remains 100% liable for repayment of the facility. The lender took a personal guarantee of £30,000 from a director.