Company Registration No. 10785297 (England and Wales)
AGILE THINKING SPACES LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
AGILE THINKING SPACES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AGILE THINKING SPACES LIMITED
Company Registration No. 10785297
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
215,000
-
0
Current assets
Debtors
4
96,794
71,295
Cash at bank and in hand
4,223
229,646
101,017
300,941
Creditors: amounts falling due within one year
5
(301,350)
(301,320)
Net current liabilities
(200,333)
(379)
Net assets/(liabilities)
14,667
(379)
Capital and reserves
Called up share capital
6
100
100
Revaluation reserve
25,000
-
0
Profit and loss reserves
(10,433)
(479)
Total equity
14,667
(379)

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

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 27 January 2025 and are signed on its behalf by:
D Lubeck
Director
AGILE THINKING SPACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Agile Thinking Spaces Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.

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

During the year ttruehe company made a loss of £9,954. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
Basic financial assets

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities

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

2
Employees

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

2024
2023
Number
Number
Total
2
2
AGILE THINKING SPACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
3
Fixed asset investments
2024
2023
£
£
Investments
215,000
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
24,028
-
0
Other debtors
72,766
71,295
96,794
71,295
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
301,350
301,320
301,350
301,320
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100

 

7
Related party transactions

At the beginning of the year the company was owed £71,195 by the director, D Lubeck. No repayment were made during the year. Interest on the balance due was calculated at the official rate and totalled £1,470. At the balance sheet date the company was owed £72,666 by the director.

 

At the balance sheet date the company owed £300,000 (2023 - £300,000) to Grey Interiors Ltd, a connected company. This loan is interest free.

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