Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue192023-01-01The principal activity of the company continued to be that of acting as an agent for performing artists.17trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09055563 2023-01-01 2023-12-31 09055563 2022-01-01 2022-12-31 09055563 2023-12-31 09055563 2022-12-31 09055563 c:Director1 2023-01-01 2023-12-31 09055563 c:Director2 2023-01-01 2023-12-31 09055563 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 09055563 d:Buildings d:ShortLeaseholdAssets 2023-12-31 09055563 d:Buildings d:ShortLeaseholdAssets 2022-12-31 09055563 d:FurnitureFittings 2023-01-01 2023-12-31 09055563 d:FurnitureFittings 2023-12-31 09055563 d:FurnitureFittings 2022-12-31 09055563 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09055563 d:ComputerEquipment 2023-01-01 2023-12-31 09055563 d:ComputerEquipment 2023-12-31 09055563 d:ComputerEquipment 2022-12-31 09055563 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09055563 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09055563 d:CurrentFinancialInstruments 2023-12-31 09055563 d:CurrentFinancialInstruments 2022-12-31 09055563 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09055563 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09055563 d:ShareCapital 2023-12-31 09055563 d:ShareCapital 2022-12-31 09055563 d:RetainedEarningsAccumulatedLosses 2023-12-31 09055563 d:RetainedEarningsAccumulatedLosses 2022-12-31 09055563 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09055563 c:OrdinaryShareClass1 2023-12-31 09055563 c:OrdinaryShareClass1 2022-12-31 09055563 c:OrdinaryShareClass2 2023-01-01 2023-12-31 09055563 c:OrdinaryShareClass2 2023-12-31 09055563 c:OrdinaryShareClass2 2022-12-31 09055563 c:FRS102 2023-01-01 2023-12-31 09055563 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09055563 c:FullAccounts 2023-01-01 2023-12-31 09055563 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09055563 2 2023-01-01 2023-12-31 09055563 6 2023-01-01 2023-12-31 09055563 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09055563














ITB AGENCY LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ITB AGENCY LIMITED
REGISTERED NUMBER:09055563

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,083
22,966

Investments
 5 
1,000
1,000

  
39,083
23,966

Current assets
  

Debtors: amounts falling due within one year
 6 
1,099,200
1,412,695

Cash at bank and in hand
 7 
5,445,998
8,127,606

  
6,545,198
9,540,301

Creditors: amounts falling due within one year
 8 
(2,652,283)
(5,825,168)

Net current assets
  
 
 
3,892,915
 
 
3,715,133

Total assets less current liabilities
  
3,931,998
3,739,099

Provisions for liabilities
  

Deferred tax
  
(366)
-

  
 
 
(366)
 
 
-

Net assets
  
3,931,632
3,739,099


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
3,931,532
3,738,999

  
3,931,632
3,739,099


Page 1

 
ITB AGENCY LIMITED
REGISTERED NUMBER:09055563
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B Dickins
R J MacSween
Director
Director


Date: 24 September 2024
Date:24 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

ITB Agency Limited is a private company, limited by shares and registered in England and Wales, registration number 09055563

The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The address of its principal place of business is 6th Floor, 9 Kingsway, London, WC2B 6XF.
The principal activity of the company continued to be that of acting as an agent for performing artists. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

  
2.2

Group exemption

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small - sized group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash  are presented in the statement of comprehensive income within 'administration expenses'. All other foreign exchange gains and losses are presented in the profit and loss.
 
 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from acting as an agent for performing artists is recognised when it is probable the company will receive the rights to the consideration due under the contract. 

Page 3

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
amortised over 5 years
Office furniture, fixtures and fittings
-
20% straight-line
Computer equipment
-
33.33% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

 Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.13

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.14

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, loans with related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 17).

Page 5

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2023
203,633
26,711
98,670
329,014


Additions
-
465
28,478
28,943


Disposals
-
-
(18,877)
(18,877)



At 31 December 2023

203,633
27,176
108,271
339,080



Depreciation


At 1 January 2023
203,633
22,149
80,266
306,048


Charge for the year
-
1,473
12,353
13,826


Disposals
-
-
(18,877)
(18,877)



At 31 December 2023

203,633
23,622
73,742
300,997



Net book value



At 31 December 2023
-
3,554
34,529
38,083



At 31 December 2022
-
4,562
18,404
22,966


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
1,000



At 31 December 2023
1,000




Page 6

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
853,801

Amounts owed by group undertakings
240,322
-

Other debtors
155,526
7,273

Prepayments and accrued income
703,352
540,313

Deferred taxation
-
11,308

1,099,200
1,412,695



7.


Cash

2023
2022
£
£

Cash at bank and in hand
5,445,998
8,127,606



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
35,986
39,112

Amounts owed to group undertakings
-
3,451

Corporation tax
37,526
42,629

Other taxation and social security
1,291,792
2,336,578

Other creditors
19,984
33,242

Accruals
1,266,995
3,370,156

2,652,283
5,825,168



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) A Ordinary shares of £1.00 each
50
50
50 (2022 - 50) B Ordinary shares of £1.00 each
50
50

100

100


Page 7

 
ITB AGENCY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Pension commitments

The company operates a defined contributions pension scheme. The assets are held separately from those of the company in an independently administered fund. The pension cost charge represents  contributions payable by the company to the fund and amounted to £17,723 (2022 - £15,079). Contributions totalling £4,168 (2022 - £4,124) were payable to the fund at the balance sheet date and are included in creditors.

11.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases of £168,645 (2022 - £364,131).

12.

Transactions with directors

At the year end, the directors owed £42,116 to the company (2022 - £12,806 was owed by the company to the directors). The loans are unsecured, and repayable on demand. Interest has been charged on the loan. 

13.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.

 
Page 8