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Registered number: 03608666
Engine Creative Agency Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Passman Leonard Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03608666
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,687 19,224
6,687 19,224
CURRENT ASSETS
Stocks 5 12,800 2,113
Debtors 6 153,181 199,848
Cash at bank and in hand 399,631 309,502
565,612 511,463
Creditors: Amounts Falling Due Within One Year 7 (169,115 ) (239,907 )
NET CURRENT ASSETS (LIABILITIES) 396,497 271,556
TOTAL ASSETS LESS CURRENT LIABILITIES 403,184 290,780
Creditors: Amounts Falling Due After More Than One Year 8 (10,531 ) (21,180 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,255 ) -
NET ASSETS 391,398 269,600
CAPITAL AND RESERVES
Called up share capital 9 400 400
Capital redemption reserve (44,884 ) (44,884 )
Profit and Loss Account 435,882 314,084
SHAREHOLDERS' FUNDS 391,398 269,600
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Key
Director
25 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Engine Creative Agency Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03608666 . The registered office is The Church Rooms Agnes Road, Semilong Northampton, Northamptonshire, NN2 6EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% straight line
Fixtures & Fittings 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 15 15
15 15
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 161,528 37,124 198,652
Additions 1,145 - 1,145
As at 31 July 2024 162,673 37,124 199,797
Depreciation
As at 1 August 2023 149,250 30,178 179,428
Provided during the period 10,296 3,386 13,682
As at 31 July 2024 159,546 33,564 193,110
Net Book Value
As at 31 July 2024 3,127 3,560 6,687
As at 1 August 2023 12,278 6,946 19,224
5. Stocks
2024 2023
£ £
Work in progress 12,800 2,113
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 130,049 166,821
Prepayments and accrued income 18,279 23,174
Other debtors 332 3,000
Corporation tax recoverable assets 4,521 6,853
153,181 199,848
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,927 12,738
Bank loans and overdrafts 10,648 10,648
Other taxes and social security 8,803 13,301
VAT 25,017 51,995
Other creditors 8,066 5,941
Accruals and deferred income 82,834 137,458
Pension contributions 1,391 2,195
Director's loan account 15,429 5,631
169,115 239,907
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,531 21,180
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400 400
10. Related Party Transactions
Mr. M. KeyDirector of the companyDuring the year, the company paid £36,000 of rent at arms length to the above director, who jointly owns the property with Mr. P. Christer, a former director of the company.

Mr. M. Key

Director of the company

During the year, the company paid £36,000 of rent at arms length to the above director, who jointly owns the property with Mr. P. Christer, a former director of the company.

11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Matthew David Key by virtue of his ownership of 100% of the issued share capital in the company.
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