Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31Tax is recognised in the Statement of Income and Retained Earnings. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false132023-04-01No description of principal activity8truetruefalse 10034145 2023-04-01 2024-03-31 10034145 2022-04-01 2023-03-31 10034145 2024-03-31 10034145 2023-03-31 10034145 c:CompanySecretary1 2023-04-01 2024-03-31 10034145 c:Director1 2023-04-01 2024-03-31 10034145 c:Director2 2023-04-01 2024-03-31 10034145 c:RegisteredOffice 2023-04-01 2024-03-31 10034145 d:Buildings 2023-04-01 2024-03-31 10034145 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 10034145 d:PlantMachinery 2023-04-01 2024-03-31 10034145 d:PlantMachinery 2024-03-31 10034145 d:PlantMachinery 2023-03-31 10034145 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10034145 d:FurnitureFittings 2023-04-01 2024-03-31 10034145 d:FurnitureFittings 2024-03-31 10034145 d:FurnitureFittings 2023-03-31 10034145 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10034145 d:OfficeEquipment 2023-04-01 2024-03-31 10034145 d:OfficeEquipment 2024-03-31 10034145 d:OfficeEquipment 2023-03-31 10034145 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10034145 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10034145 d:CurrentFinancialInstruments 2024-03-31 10034145 d:CurrentFinancialInstruments 2023-03-31 10034145 d:Non-currentFinancialInstruments 2024-03-31 10034145 d:Non-currentFinancialInstruments 2023-03-31 10034145 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10034145 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10034145 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10034145 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10034145 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10034145 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10034145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10034145 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10034145 d:ShareCapital 2024-03-31 10034145 d:ShareCapital 2023-03-31 10034145 d:SharePremium 2024-03-31 10034145 d:SharePremium 2023-03-31 10034145 d:RetainedEarningsAccumulatedLosses 2024-03-31 10034145 d:RetainedEarningsAccumulatedLosses 2023-03-31 10034145 c:FRS102 2023-04-01 2024-03-31 10034145 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10034145 c:FullAccounts 2023-04-01 2024-03-31 10034145 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10034145 2 2023-04-01 2024-03-31 10034145 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 10034145












IRRATIONAL AGENCY LIMITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
IRRATIONAL AGENCY LIMITED
 

COMPANY INFORMATION


DIRECTORS
L. G. Caldwell 
S. P. M. Shaarwi 




COMPANY SECRETARY
L. G. Caldwell



REGISTERED NUMBER
10034145



REGISTERED OFFICE
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BL





 
IRRATIONAL AGENCY LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
IRRATIONAL AGENCY LIMITED
REGISTERED NUMBER: 10034145

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible fixed assets
 4 
5,032
5,290

CURRENT ASSETS
  

Debtors
 5 
257,878
359,771

Cash at bank
  
88,534
402,047

  
346,412
761,818

Creditors: amounts falling due within one year
 6 
(101,197)
(259,472)

NET CURRENT ASSETS
  
 
 
245,215
 
 
502,346

Creditors: amounts falling due after more than one year
 7 
(12,501)
(22,500)

NET ASSETS
  
237,746
485,136


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
102
102

Share premium account
  
797
797

Profit and loss account
  
236,847
484,237

EQUITY SHAREHOLDERS' FUNDS
  
237,746
485,136

Page 1

 
IRRATIONAL AGENCY LIMITED
REGISTERED NUMBER: 10034145

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




L. G. Caldwell
Director


The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
IRRATIONAL AGENCY LIMITED
 

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

1.


GENERAL INFORMATION

Irrational Agency Limited (company number: 10034145), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL, is a private limited company incorporated in England and Wales.
The principal place of business of the Company is 8 Hermitage Street, London, W2 1BE.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption from Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.
Page 3

 
IRRATIONAL AGENCY LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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:

Computer equipment
-
25%
straight-line
Office equipment
-
25%
straight-line
Plant & machinery
-
25%
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 the Statement of Income and Retained Earnings.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

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.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price.

Page 4

 
IRRATIONAL AGENCY LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency
The Company's functional and presentational currency is British Pound Sterling (GBP).
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period-end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings.

 
2.11

PENSIONS

Defined contribution pension plan
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

INTEREST INCOME

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Page 5

 
IRRATIONAL AGENCY LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 13 (2023 - 8).

Page 6

 
IRRATIONAL AGENCY LIMITED
 

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

4.


TANGIBLE FIXED ASSET





Plant & machinery
Computer equipment
Office equipment
Total

£
£
£
£



COST


At 1 April 2023
2,229
8,338
1,336
11,903


Additions
-
1,813
76
1,889



At 31 March 2024

2,229
10,151
1,412
13,792



DEPRECIATION


At 1 April 2023
2,229
3,235
1,149
6,613


Charge for the year
-
2,022
125
2,147



At 31 March 2024

2,229
5,257
1,274
8,760



NET BOOK VALUE



At 31 March 2024
-
4,894
138
5,032



At 31 March 2023
-
5,103
187
5,290


5.


DEBTORS

2024
2023
£
£

Amounts due within one year

Trade debtors
215,424
297,162

Other debtors
12,312
11,156

Amounts owed by group undertakings
10,142
7,235

Prepayments and accrued income
20,000
44,218

257,878
359,771


Page 7

 
IRRATIONAL AGENCY LIMITED
 

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

6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Bank loans (secured - see below)
10,000
10,000

Trade creditors
44,389
166,542

Corporation tax
-
1,164

Other taxation and social security
35,131
73,992

Other creditors
9,077
5,274

Accruals and deferred income
2,600
2,500

101,197
259,472



7.


CREDITORS: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,501
22,500


This loan is a Bounce Back Loan and therefore no security has been provided by the Company as it is 100% government backed. 


8.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
2,501
12,500

22,501
32,500



9.


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 and amounted to £69,175 (2023: £40,921). Contributions totalling £6,704 (2023: £5,274) were payable to the fund at the Balance Sheet date and are included in other creditors.

Page 8

 
IRRATIONAL AGENCY LIMITED
 

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

10.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption provided in Financial Reporting Standard 102, Section 1A, Paragraph 33.1A from disclosing transactions with members of the same group that are wholly owned.

Page 9