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REGISTERED NUMBER: 06821037 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

TORQUE AGENCY GROUP LIMITED

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)






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


TORQUE AGENCY GROUP LIMITED

Company Information
for the year ended 31 December 2024







DIRECTORS: M Ferrari
B C Moss





REGISTERED OFFICE: C/o Winckworth Sherwood Arbour
255 Blackfriars Road
London
London
SE1 9AX





REGISTERED NUMBER: 06821037 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

Balance Sheet
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 9,447 11,443

CURRENT ASSETS
Debtors 5 517,465 490,967
Cash at bank 222,632 111,213
740,097 602,180
CREDITORS
Amounts falling due within one year 6 (405,620 ) (491,681 )
NET CURRENT ASSETS 334,477 110,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,924

121,942

CREDITORS
Amounts falling due after more than one
year

7

(9,745

)

(46,367

)

PROVISIONS FOR LIABILITIES 9 (2,362 ) (3,100 )
NET ASSETS 331,817 72,475

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 331,617 72,275
SHAREHOLDERS' FUNDS 331,817 72,475

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 directors acknowledge their 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.

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





M Ferrari - Director


TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Torque Agency Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Revenue is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are stated at cost, or deemed cost, less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings-25% on cost
Computer equipment-30% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 not further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability on the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 January 2024 4,172 56,509 60,681
Additions - 2,113 2,113
At 31 December 2024 4,172 58,622 62,794
DEPRECIATION
At 1 January 2024 3,350 45,888 49,238
Charge for year 289 3,820 4,109
At 31 December 2024 3,639 49,708 53,347
NET BOOK VALUE
At 31 December 2024 533 8,914 9,447
At 31 December 2023 822 10,621 11,443

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 291,773 280,129
Amounts owed by group undertakings 94,412 74,091
Other debtors 131,280 136,747
517,465 490,967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 36,622 33,118
Trade creditors 53,391 203,984
Amounts owed to group undertakings - 96,393
Taxation and social security 165,350 91,811
Other creditors 150,257 66,375
405,620 491,681

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 9,745 46,367

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 18,292 -
Between one and five years 18,846 -
37,138 -

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 2,362 3,100

Deferred tax
£
Balance at 1 January 2024 3,100
Accelerated capital allowances (738 )
Balance at 31 December 2024 2,362

TORQUE AGENCY GROUP LIMITED (REGISTERED NUMBER: 06821037)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
170 Ordinary A £1 170 170
30 Ordinary B £1 30 30
200 200

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review key management personnel advanced £32,606 and repaid £36,271. At the balance sheet date key management personnel owed the company £88,156 (2023: £91,821). The loans are repayable on demand.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.