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REGISTERED NUMBER: 14274730 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Loop Agencies Ltd

Loop Agencies Ltd (Registered number: 14274730)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Loop Agencies Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: E G Vickers
V J L Hope





REGISTERED OFFICE: 86-90 Paul Street
London
United Kingdom
EC2A 4NE





REGISTERED NUMBER: 14274730 (England and Wales)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Loop Agencies Ltd (Registered number: 14274730)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,728 -
Tangible assets 5 9,149 2,014
10,877 2,014

CURRENT ASSETS
Debtors 6 218,312 26,727
Cash at bank 121,548 163,475
339,860 190,202
CREDITORS
Amounts falling due within one year 7 118,911 58,822
NET CURRENT ASSETS 220,949 131,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,826

133,394

PROVISIONS FOR LIABILITIES 8 2,224 504
NET ASSETS 229,602 132,890

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 229,601 132,889
SHAREHOLDERS' FUNDS 229,602 132,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Loop Agencies Ltd (Registered number: 14274730)

Balance Sheet - continued
31 March 2024


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 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 September 2024 and were signed on its behalf by:




V J L Hope - Director



E G Vickers - Director


Loop Agencies Ltd (Registered number: 14274730)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Loop Agencies Ltd 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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment - 25% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Loop Agencies Ltd (Registered number: 14274730)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
Additions 1,920
At 31 March 2024 1,920
AMORTISATION
Amortisation for year 192
At 31 March 2024 192
NET BOOK VALUE
At 31 March 2024 1,728

Loop Agencies Ltd (Registered number: 14274730)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 2,248
Additions 10,263
At 31 March 2024 12,511
DEPRECIATION
At 1 April 2023 234
Charge for year 3,128
At 31 March 2024 3,362
NET BOOK VALUE
At 31 March 2024 9,149
At 31 March 2023 2,014

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 212,387 25,200
Other debtors 5,925 1,527
218,312 26,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 35,611 -
Taxation and social security 78,881 53,650
Other creditors 4,419 5,172
118,911 58,822

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 2,224 504

Deferred
tax
£   
Balance at 1 April 2023 504
Provided during year 1,720
Balance at 31 March 2024 2,224

Loop Agencies Ltd (Registered number: 14274730)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
NIL Ordinary 1 - 1
100 Ordinary £0.01 £0.01 1 -
1 1

During the year, 1 Ordinary share of £1 was sub-divided into 100 Ordinary £0.01 shares of £0.01.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st March 2024, the company owed the directors £2,739. (March 2023: £3,572)

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £44,709 (2023: nil) were paid to the directors.

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.