The Good Agency Group Holdings Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 07703773 (England and Wales)
The Good Agency Group Holdings Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
The Good Agency Group Holdings Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
343,656
343,656
Current assets
-
-
Creditors: amounts falling due within one year
5
(199,624)
(199,944)
Net current liabilities
(199,624)
(199,944)
Net assets
144,032
143,712
Capital and reserves
Called up share capital
7
14
14
Capital redemption reserve
143,651
143,651
Profit and loss reserves
367
47
Total equity
144,032
143,712

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

The financial statements were approved by the board of directors and authorised for issue on 20 August 2024 and are signed on its behalf by:
G Banks
Director
Company Registration No. 07703773
The Good Agency Group Holdings Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 2
1
Accounting policies
Company information

The Good Agency Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Harling House, 47-51 Great Suffolk Street, London, SE1 0BS.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not

to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a

small group. The financial statements present information about the company as an individual entity and

not about its group.

 

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The Good Agency Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 3
1.6
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

 

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
343,656
343,656
4
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
The Good Agency Group Limited
1
Marketing and advertising consultancy
Ordinary shares
100.00
The Good Agency Trustee Company Limited
1
Trustee Company
Ordinary shares
100.00
The Good Agency Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
4
Subsidiaries
(Continued)
Page 4

Registered office addresses (all UK unless otherwise indicated):

1
3rd Floor, Harling House, 47-51 Great Sufflok Street, London, SE1 0BS
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
120
120
Amounts owed to group undertakings
188,364
188,884
Other creditors
8,100
8,100
Accruals and deferred income
3,040
2,840
199,624
199,944
6
Share-based payment transactions

Certain employees from the subsidiary undertakings hold options to subscribe for shares in the company at an exercise price of £805.17 per share. If options remain unexercised after a period of 10 years from the date of grant, the options expire. There were 0 (2023 - 159) share options issued in the period with an average weighted value of £0 (2023 - £991).

 

The weighted average fair value of options granted in the year was determined using the Black-Scholes option pricing model. The Black-Scholes model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options and the requirement to exercise within a short period after the employee becomes entitled to the shares (the “vesting date”).

 

The expected life used in the model has been adjusted, based on management’s best estimate, for the effect of non-transferability, exercise restrictions, and behavioural considerations.

 

Non-vesting conditions and market conditions are taken into account when estimating the fair value of the option at grant date.

Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 April 2023
-
-
0
-
-
0
Granted
-
0
159
-
0
991.00
Outstanding at 31 March 2024
-
0
159
-
0
991.00
Exercisable at 31 March 2024
-
0
-
0
-
0
-
0
The Good Agency Group Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
1,430
1,430
14
14

The company was purchased by The Good Agency Trustee Company Limited Employee Ownership Trust in the prior year. This resulted in a change of share class, whereby both A and B Ordinary shares were amended to Ordinary shares. All shares now rank pari passu with each other.

8
Related party transactions

No guarantees have been given or received.

 

As permitted by FRS 102 Section 33 "related party disclosures", the financial statements do not disclose transactions with other members of a wholly owned group.

 

9
Controlling party

There is not considered to be an ultimate controlling party.

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