Registration number:
Audagio Services Ltd
for the Period from 1 May 2023 to 31 December 2023
Audagio Services Ltd
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Audagio Services Ltd
Company Information
Directors |
Mrs BM Mills Mr HCA Mills |
Registered office |
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Accountants |
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Audagio Services Ltd
(Registration number: 08041324)
Abridged Balance Sheet as at 31 December 2023
Note |
31 December |
30 April |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
5,000 |
5,000 |
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Retained earnings |
231,743 |
333,169 |
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Shareholders' funds |
236,743 |
338,169 |
For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Audagio Services Ltd
(Registration number: 08041324)
Abridged Balance Sheet as at 31 December 2023
Approved and authorised by the
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Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is exempt from value added tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The company is paid after services have been delivered.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% straight line |
Motor vehicles |
25% straight line |
Furniture and fittings |
20% straight line |
Office equipment |
20% straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Other intangible assets are franchise fees paid to Bluebird Care Ltd. It is amortised in the profit and loss account over its estimated economic life of 5 years.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Franchise fee |
20% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. There is no reason for provision of impairment as payment is generally received in advance of services provided.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Intangible assets |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 May 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
- |
Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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- |
- |
- |
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At 31 December 2023 |
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Depreciation |
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At 1 May 2023 |
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Charge for the period |
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- |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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- |
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At 30 April 2023 |
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- |
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Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Investments |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Provision |
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Carrying amount |
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At 31 December 2023 |
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At 30 April 2023 |
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Share capital |
Allotted, called up and fully paid shares
31 December |
30 April |
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No. |
£ |
No. |
£ |
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5,000 |
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5,000 |
Audagio Services Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 May 2023 to 31 December 2023
Dividends |
31 December |
30 April |
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£ |
£ |
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Interim dividend of £ |
60,000 |
80,000 |
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Related party transactions |
Summary of transactions with parent
Summary of transactions with subsidiaries
Loans to related parties
2023 |
Parent |
Subsidiary |
Total |
At start of period |
- |
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Advanced |
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At end of period |
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Loans from related parties
2023 |
Parent |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
- |
- |
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Parent and ultimate parent undertaking |
The company's immediate parent is