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Agile on the Beach Limited

Unaudited Financial Statements
Year Ended 31 December 2023

Registration number: 07630793

 

Agile on the Beach Limited

Company Information

Directors

Mr Toby Harry Parkins

Mr Mark Terrance Smith

Registered office

Fibrehub Trevenson Lane
Pool
Cornwall
TR15 3GF

Bankers

Santander
PO Box 382
21 Prescot Street
London
E1 8AD

Accountants

Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

 

Agile on the Beach Limited

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

720

1,192

Current assets

 

Debtors

5

32,445

49,134

Cash at bank and in hand

 

102,653

94,257

 

135,098

143,391

Creditors: Amounts falling due within one year

6

(86,715)

(92,935)

Net current assets

 

48,383

50,456

Total assets less current liabilities

 

49,103

51,648

Creditors: Amounts falling due after more than one year

6

(18,333)

(28,333)

Net assets

 

30,770

23,315

Reserves

 

Profit and loss account

30,770

23,315

Total equity

 

30,770

23,315

For the financial year 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr Mark Terrance Smith
Director

 

Agile on the Beach Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Fibrehub Trevenson Lane
Pool
Cornwall
TR15 3GF

2

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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 directors of the company have considered the going concern position. In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore 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 shown net of value added tax, returns, rebates and discounts.

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.

Tax

The current corporation 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.

 

Agile on the Beach Limited

Notes to the Unaudited Financial Statements

Year Ended 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

Office and event equipment

Straight line - 25%

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Agile on the Beach Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

4

Tangible assets

Office and event equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,886

1,886

At 31 December 2023

1,886

1,886

Depreciation

At 1 January 2023

694

694

Charge for the year

472

472

At 31 December 2023

1,166

1,166

Carrying amount

At 31 December 2023

720

720

At 31 December 2022

1,192

1,192

5

Debtors

2023
£

2022
£

Trade debtors

11,265

20,945

Prepayments

21,180

28,189

32,445

49,134

6

Creditors

Creditors: amounts falling due within one year

2023
 £

2022
 £

Due within one year

Loans and borrowings

10,000

10,000

Trade creditors

534

-

Social security and other taxes

194

5,444

Other creditors

74,089

75,830

Accrued expenses

1,898

1,661

86,715

92,935

 

Agile on the Beach Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

18,333

28,333

7

Loans and borrowings

2023
£

2022
£

Loans and borrowings due after one year

Bank borrowings

18,333

28,333

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

 

Agile on the Beach Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

8

Related party transactions

Loans to related parties

There were no loans to related parties in the year. The prior year saw the £10,000 loan made to Software Cornwall Ltd on 29 September 2020 written off.

Transactions with related parties

There were no related party transactions in the year. (2022: £4,800)