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REGISTERED NUMBER: 10895139 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

SO Agency Limited

SO Agency Limited (Registered number: 10895139)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SO Agency Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: M Holmes





REGISTERED OFFICE: Suite 4 Arena Park
Tarn Lane
Leeds
LS17 9JG





REGISTERED NUMBER: 10895139 (England and Wales)





ACCOUNTANTS: Ford Campbell Freedman Limited
Chartered accountants
2nd Floor
33 Park Place
Leeds
LS1 2RY

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
SO Agency Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SO Agency Limited for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of SO Agency Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SO Agency Limited and state those matters that we have agreed to state to the director of SO Agency Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SO Agency Limited and its director for our work or for this report.

It is your duty to ensure that SO Agency Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SO Agency Limited. You consider that SO Agency Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SO Agency Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ford Campbell Freedman Limited
Chartered accountants
2nd Floor
33 Park Place
Leeds
LS1 2RY


7 April 2025

SO Agency Limited (Registered number: 10895139)

Statement of Financial Position
31 August 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 5 - 30,495
Tangible assets 6 77,941 62,691
77,941 93,186

CURRENT ASSETS
Debtors 7 218,472 248,495
Cash at bank 616,859 164,166
835,331 412,661
CREDITORS
Amounts falling due within one year 8 458,807 308,679
NET CURRENT ASSETS 376,524 103,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,465

197,168

CREDITORS
Amounts falling due after more than one
year

9

(6,862

)

(17,186

)

PROVISIONS FOR LIABILITIES (19,456 ) (11,911 )
NET ASSETS 428,147 168,071

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 428,047 167,971
428,147 168,071

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

SO Agency Limited (Registered number: 10895139)

Statement of Financial Position - continued
31 August 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 April 2025 and were signed by:





M Holmes - Director


SO Agency Limited (Registered number: 10895139)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

SO Agency 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of
ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated
contract costs.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land & buildingsOver the remaining term of the lease
Fixtures & fittings20% Reducing balance
Computer equipment15% straight line

Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and 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 statement of financial position date.


SO Agency Limited (Registered number: 10895139)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 September 2023 33,893
Reclassification/transfer (33,893 )
At 31 August 2024 -
AMORTISATION
At 1 September 2023 3,398
Amortisation for year (3,398 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 30,495

SO Agency Limited (Registered number: 10895139)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
COST
At 1 September 2023 6,845 60,387 32,710 99,942
Additions 5,787 1,042 28,791 35,620
At 31 August 2024 12,632 61,429 61,501 135,562
DEPRECIATION
At 1 September 2023 5,434 20,580 11,237 37,251
Charge for year 1,801 12,078 6,491 20,370
At 31 August 2024 7,235 32,658 17,728 57,621
NET BOOK VALUE
At 31 August 2024 5,397 28,771 43,773 77,941
At 31 August 2023 1,411 39,807 21,473 62,691

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 168,130 231,471
Other debtors 50,342 17,024
218,472 248,495

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,574 20,246
Trade creditors 46,233 39,923
Taxation and social security 253,151 216,527
Other creditors 148,849 31,983
458,807 308,679

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 6,862 17,186

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 20,400 -

SO Agency Limited (Registered number: 10895139)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
M Holmes
Balance outstanding at start of year (31,983 ) (29,688 )
Amounts advanced 95,769 70,362
Amounts repaid (40,046 ) (72,657 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,740 (31,983 )

The loan to directors' is subject to an interest charge at 2.25%.

12. RELATED PARTY DISCLOSURES

Amounts owed from companies under common control


2024 2023
£ £
Amount due from related party at the balance sheet date 16,744 15,613