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REGISTERED NUMBER: 08401138 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DAUNTLESS AGENCY LTD

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


DAUNTLESS AGENCY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: R Oren





REGISTERED OFFICE: 86-90 Paul Street
London
EC2A 4NE





REGISTERED NUMBER: 08401138 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor, 55 Ludgate Hill
London
EC4M 7JW

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 73 98
Tangible assets 5 9,608 15,410
9,681 15,508

CURRENT ASSETS
Debtors: amounts falling due within
one year

6

183,644

159,602
Debtors: amounts falling due after
more than one year

6

142,860

153,287
Cash at bank 89,131 618,717
415,635 931,606
CREDITORS
Amounts falling due within one year 7 (114,156 ) (446,867 )
NET CURRENT ASSETS 301,479 484,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

311,160

500,247

PROVISIONS FOR LIABILITIES 8 (2,402 ) (3,853 )
NET ASSETS 308,758 496,394

CAPITAL AND RESERVES
Called up share capital 9 380 380
Retained earnings 308,378 496,014
SHAREHOLDERS' FUNDS 308,758 496,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

BALANCE SHEET - continued
31 DECEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2025 and were signed by:





R Oren - Director


DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Dauntless Agency Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 86 - 90 Paul Street, London, England, EC2A 4NE.

The company's principal activity is that of information technology service activities.

2. ACCOUNTING POLICIES

Basis of preparing the 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Going concern

The director has assessed the appropriateness of preparing the financial statements on a going concern basis, taking into account the company's projected performance over the twelve months from the date of approval, anticipated cash flows, future pipeline, and risk mitigation strategies available during this period.

2024 brought challenging economic conditions, particularly during the UK and US election periods, which is reflected in the decrease in turnover for the year. The company did however manage to secure new clients and projects, even as many enterprise businesses prioritised cost reductions and tightened their investments in new technology initiatives. The company exercised strict cost control to ensure proportional scaling with turnover, enabling it to maintain a positive cash flow throughout the year. As a result, the company ended the financial period with a positive net asset position on its balance sheet. Furthermore, the company met all obligations under its Company Voluntary Arrangement, with the completion report issued in August 2024, restoring its full Active status.

Considering these factors, the director remains confident in the company's ability to continue operating and has therefore prepared the financial statements on a going concern basis.

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Revenue
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:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Interest income
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Finance costs
Finance costs are charged to the Statement of income and retained earnings 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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:

Fixtures and fittings - 10% straight line
Computer equipment - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
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 the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Debtors
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.

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

Creditors
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 17 ) .

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INTANGIBLE FIXED ASSETS
Trademarks
£
COST
At 1 January 2024
and 31 December 2024 248
AMORTISATION
At 1 January 2024 150
Amortisation for year 25
At 31 December 2024 175
NET BOOK VALUE
At 31 December 2024 73
At 31 December 2023 98

5. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 January 2024 42,322
Additions 3,391
At 31 December 2024 45,713
DEPRECIATION
At 1 January 2024 26,912
Charge for year 9,193
At 31 December 2024 36,105
NET BOOK VALUE
At 31 December 2024 9,608
At 31 December 2023 15,410

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 109,627 125,612
Other debtors 16,328 3,600
VAT 10,209 -
Prepayments and accrued income 47,480 30,390
183,644 159,602

Amounts falling due after more than one year:
Other debtors 142,860 153,287

Aggregate amounts 326,504 312,889

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 26 -
Amounts owed under Company
Voluntary Arrangement - 83,440
Trade creditors 61,829 118,777
Corporation tax - 58,683
Social security and other taxes 17,210 137,935
Other creditors 2,791 -
Accruals and deferred income 32,300 48,032
114,156 446,867

The company entered into a Company Voluntary Arrangement with its creditors on 6 June 2019. The director believes that there is a reasonable prospect that the company will continue to trade and have prepared the accounts under the going concern basis accordingly.

Under this arrangement, the company made a one-off payment of £100,000 during the 2020 year and is due to make a total of 60 monthly repayments of £11,920. By 31 December 2024, 60 (2023: 53) of these monthly repayments had been made.

The Company Voluntary Arrangement was fully implemented on 13 September 2024.

DAUNTLESS AGENCY LTD (REGISTERED NUMBER: 08401138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Deferred tax 3,853 4,749
Charged to profit or loss (1,451 ) (896 )
2,402 3,853

Deferred tax
£
Balance at 1 January 2024 3,853
Credit to Statement of income and retained earnings during
year

(1,451

)
Balance at 31 December 2024 2,402

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
380 Ordinary shares 1 380 380

10. RELATED PARTY DISCLOSURES

During the year, Icknield Limited charged the company £24,000 for director services (2023: £24,000). At 31 December 2024, the company owed £2,400 (2023: £2,400) in respect of this balance, which is included in Trade creditors.

11. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme 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 during the period and amounted to £13,979 (2023: £19,070). Contributions totalling £2,791 (2023: £Nil) were payable to the fund at the reporting date and are included in other creditors.