Company registration number 10380464 (England and Wales)
THE YARDSTICK AGENCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE YARDSTICK AGENCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE YARDSTICK AGENCY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,011
14,047
Current assets
Debtors
4
189,404
131,154
Cash at bank and in hand
360,422
381,139
549,826
512,293
Creditors: amounts falling due within one year
5
(316,177)
(311,778)
Net current assets
233,649
200,515
Total assets less current liabilities
242,660
214,562
Creditors: amounts falling due after more than one year
6
(31,878)
(37,218)
Provisions for liabilities
(2,253)
(3,512)
Net assets
208,529
173,832
Capital and reserves
Called up share capital
200
200
Capital redemption reserve
20
20
Profit and loss reserves
208,309
173,612
Total equity
208,529
173,832
THE YARDSTICK AGENCY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mr P J Bray
Director
Company registration number 10380464 (England and Wales)
THE YARDSTICK AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
The Yardstick Agency Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 3-7 Middle Pavement, Nottingham, NG1 7DX.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of fees receivable for services provided in the normal course of business. Fees receivable are accounted for when the stage of completion of services is such that the company is entitled to the income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on cost
Computers
33% on cost
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax represents the amount of tax payable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
THE YARDSTICK AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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 the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting end date 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.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
45
41
THE YARDSTICK AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
39,825
Additions
4,068
At 31 December 2023
43,893
Depreciation and impairment
At 1 January 2023
25,778
Depreciation charged in the year
9,104
At 31 December 2023
34,882
Carrying amount
At 31 December 2023
9,011
At 31 December 2022
14,047
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
187,082
131,154
Other debtors
2,322
189,404
131,154
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,341
5,209
Trade creditors
81,960
100,177
Taxation and social security
208,082
186,532
Other creditors
20,794
19,860
316,177
311,778
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
31,878
37,218
THE YARDSTICK AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Creditors: amounts falling due after more than one year
(Continued)
- 6 -
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
9,133
15,034
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
13,124
35,621