Company registration number 08968646 (England and Wales)
AGILEASSETS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AGILEASSETS LIMITED
COMPANY INFORMATION
Directors
Mr J A Kirkland
Mr R H H Reeder
Ms J A Shepard
Company number
08968646
Registered office
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
Auditor
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
AGILEASSETS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AGILEASSETS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
352,903
411,050
Cash at bank and in hand
298,104
70,088
651,007
481,138
Creditors: amounts falling due within one year
5
(595,539)
(431,243)
Net current assets
55,468
49,895
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
55,467
49,894
Total equity
55,468
49,895

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 7 November 2024 and are signed on its behalf by:
Mr R H H Reeder
Director
Company registration number 08968646 (England and Wales)
AGILEASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

AgileAssets Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.

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
Going concern

The trade and assets of AgileAssets Limited are being hivedtrue-up into Trimble UK Limited, a fellow group company, as a going concern. The transfer of the company’s trade and assets is being carried out in two stages; the first stage occurred in July 2023, with the payroll and cost operations of the entity being transferred to Trimble UK Limited.

 

In 2024, there is continuing work to complete further integrations to provide Agile Asset customers with a single point of contact for all their purchases. This will see all of the company’s trade being transferred to Trimble UK Limited which is the main trading entity for the UK markets, encompassing all current Trimble products. It is anticipated that over time the Agile Asset products will be sold directly by Trimble UK Limited which will eventually lead to a winding down of sales activities for Agile Assets in the UK. The objective is to thereafter continue the company with no trading activity as a dormant entity until it is dissolved. Considering these events, the directors are of the view that there is significant doubt as to the continued operation of the company beyond 2024. As such, the financial statements have been prepared on a basis other than going concern.

However, the directors of the company do not believe this affects the financial strength or ability of the company to pay its debts as due until the consolidation and dissolution is finalised. Trimble Inc., the ultimate parent, has committed to ensuring that the company can continue to meet all liabilities as they fall due. No adjustments were required as a result of the application of a basis of accounting other than going concern. No provision for the future costs of terminating the business of the company have been included as no such costs were committed at the Balance Sheet date.

1.3
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Rendering of services

 

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

• the amount of revenue can be measured reliably;

• it is probable that the Company will receive the consideration due under the contract;

• the stage of completion of the contract at the end of the reporting period can be measured reliably; and

• the costs incurred and the costs to complete the contract can be measured reliably.

AGILEASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

AGILEASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
287,736
360,480
Other debtors
65,167
50,570
352,903
411,050
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
12,468
Amounts owed to group undertakings
439,638
142,272
Taxation and social security
12,922
33,223
Other creditors
142,979
243,280
595,539
431,243
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to Note 1.2 to the financial statements which explains that the Group's management decided during the period to commence transfer of the trade and assets of the Company to another group company as a going concern. As the company itself therefore ceased to be a going concern, the accounts need to be drawn up on a basis other than that of a going concern, although in this instance, due to the transfer of the trade in an orderly fashion being carried out, we agree with the basis of preparation which will see the reported figures unchanged. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Timothy Neale
Statutory Auditor:
Kirk Rice LLP
Date of audit report:
11 November 2024
AGILEASSETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Parent company

The immediate parent company of AgileAssets Limited is AgileAssets Inc. The ultimate parent company of the AgileAssets group is Trimble Inc. The UK company accounts will be consolidated with those of Trimble Inc.

AgileAssets Inc. and Trimble Inc. are companies incorporated in the US. The registered office address of AgileAssets Inc. is 3001 Bee Caves Road, Suite 200, Austin, Texas, 78746. The registered office address of Trimble Inc. is 10368 Westmoor Drive, Westminster, Colorado, 80021.

2023-12-312023-01-01false11 November 2024CCH SoftwareCCH Accounts Production 2024.100Transportation asset management software
This audit opinion is unqualifiedMr J A KirklandMr R H H ReederMs J A Shepardfalsefalse
089686462023-01-012023-12-3108968646bus:Director12023-01-012023-12-3108968646bus:Director22023-01-012023-12-3108968646bus:Director32023-01-012023-12-3108968646bus:RegisteredOffice2023-01-012023-12-31089686462023-12-31089686462022-12-3108968646core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108968646core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3108968646core:CurrentFinancialInstruments2023-12-3108968646core:CurrentFinancialInstruments2022-12-3108968646core:ShareCapital2023-12-3108968646core:ShareCapital2022-12-3108968646core:RetainedEarningsAccumulatedLosses2023-12-3108968646core:RetainedEarningsAccumulatedLosses2022-12-31089686462022-01-012022-12-3108968646core:WithinOneYear2023-12-3108968646core:WithinOneYear2022-12-3108968646bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108968646bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108968646bus:FRS1022023-01-012023-12-3108968646bus:Audited2023-01-012023-12-3108968646bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP