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Registered number: 02967482










THE LONDON SPEAKER BUREAU LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
COMPANY INFORMATION


Directors
T Kenyon-Slaney 
R Kenyon-Slaney (resigned 24 September 2024)




Registered number
02967482



Registered office
235 Kensington High Street

London

W8 6SF




Independent auditors
Kinnair Associates Limited
Chartered Accountants & Statutory Auditor

Aston House

Redburn Road

Newcastle upon Tyne

NE5 1NB





 
THE LONDON SPEAKER BUREAU LIMITED
 

CONTENTS



Page
Strategic Report
 
 
1
Director's Report
 
 
2 - 3
Independent Auditors' Report
 
 
4 - 7
Statement of Income and Retained Earnings
 
 
8
Balance Sheet
 
 
9
Statement of Cash Flows
 
 
10
Notes to the Financial Statements
 
 
11 - 23


 
THE LONDON SPEAKER BUREAU LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

Introduction
 
The London Speaker Bureau Limited is an international agency, that represents and works with some of the most influential people around the world. We provide experienced keynote speakers and senior boardroom advisers to assist corporations and governments meet their objectives. The directors present their Strategic Report for the year ended 30 November 2024.

Business review
 
The company's principal activity is the provision of business speakers and boardroom advisors to corporations and government both in person and virtually. Expanding into new regions globally continues to create new opportunities for the business, alongside diversifying our services offered. This year our focus remained on on growing sales in North America and maintaining market share in other global regions.  We continued to invest in and train existing staff and significantly in improving automation and operational efficiencies. The company achieved another solid set of results for the year ended 30 November 2024. Revenue grew to £21.2m (2023: £20.2m), gross margin reduced as did profit before taxation to £367k (2023: £931k). The directors consider these results to be satisfactory.

Principal risks and uncertainties
 
Whilst overall the industry has remained strong, some global regions saw a decline in bookings, likely attributed to a year of political elections globally and client’s reluctance to commit in advance of electoral outcomes. Increasingly complex procurement processes to support our clients’ requirements as a vendor continues to be a challenge, this year we have focused heavily on building strong and long-standing partnerships and streamlining our processes to align with clients’ requirements.  

Key performance indicators
 
Turnover has increased for the business due to not only new client acquisition both in the UK and internationally but also retained repeat business with long-standing clients. We continue to book events both in person and virtually. Overheads continue to be strictly controlled. The following KPIs were monitored by the board:
• Turnover increased by 4.9% to £21.2m (2023: £20.2m)
• Gross profit margin decreased to 15% (2023: 16.90%)
• Profit before taxation decreased to £367k (2023: £931k)

Other performance indicators
 
The company continues to grow its footprint and expertise in the speaking and advisory industry through investment in new marketing initiatives, diversifying our services and ensuring current staff receive training to be able to offer an unrivalled consultancy service in our industry.


This report was approved by the board on 20 May 2025 and signed on its behalf.



T Kenyon-Slaney
Director

Page 1

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The director presents his report and the financial statements for the year ended 30 November 2024.

Results and dividends

The profit for the year, after taxation, amounted to £218,845 (2023 - £681,471).

Ordinary dividends were paid amounting to £395,469. The directors do not recommend payment of a final dividend. 

Future developments

The company will continue to focus on its growth objectives in North America and explore opportunities to expand into new regions globally. We will also look at building on the projects of automating and streamlining operational efficiencies. We aim to complete our B-Corp certification in the coming year, a designation which we believe will compliment many of our social and environmental objectives within the company. 

Director's responsibilities statement

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

T Kenyon-Slaney 
R Kenyon-Slaney (resigned 24 September 2024)

Page 2

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

This report was approved by the board on 20 May 2025 and signed on its behalf.
 





T Kenyon-Slaney
Director

Page 3

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONDON SPEAKER BUREAU LIMITED
 

Opinion


We have audited the financial statements of The London Speaker Bureau Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 November 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Page 4

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONDON SPEAKER BUREAU LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Page 5

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONDON SPEAKER BUREAU LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the Company through discussions with management;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including  the Companies Act 2006;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
we ensured that the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: -
making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we: -
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions; and
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -
agreeing financial statement disclosures to underlying supporting documentation; and
enquiring of management as to actual and potential litigation and claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONDON SPEAKER BUREAU LIMITED (CONTINUED)



Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.







Detlev Anderson (Senior Statutory Auditor)
  
for and on behalf of
Kinnair Associates Limited
 
Chartered Accountants
Statutory Auditor
  
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB

Date: 20 May 2025
Page 7

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
21,161,540
20,183,311

Cost of sales
  
(17,987,373)
(16,772,979)

Gross profit
  
3,174,167
3,410,332

Administrative expenses
  
(2,905,257)
(2,566,578)

Operating profit
 6 
268,910
843,754

Interest receivable and similar income
 10 
98,677
87,642

Interest payable and similar expenses
  
(25)
-

Profit before tax
  
367,562
931,396

Tax on profit
 11 
(148,717)
(249,925)

Profit after tax
  
218,845
681,471

  

  

Retained earnings at the beginning of the year
  
1,082,039
1,108,601

  
1,082,039
1,108,601

Profit for the year
  
218,845
681,471

Dividends declared and paid
  
(395,469)
(708,033)

Retained earnings at the end of the year
  
905,415
1,082,039
The notes on pages 11 to 23 form part of these financial statements.

Page 8

 
THE LONDON SPEAKER BUREAU LIMITED
REGISTERED NUMBER: 02967482

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
100,865
78,099

  
100,865
78,099

Current assets
  

Debtors: amounts falling due within one year
 15 
3,030,839
3,085,244

Cash at bank and in hand
 16 
3,688,083
4,182,755

  
6,718,922
7,267,999

Creditors: amounts falling due within one year
 17 
(5,894,739)
(6,250,840)

Net current assets
  
 
 
824,183
 
 
1,017,159

Total assets less current liabilities
  
925,048
1,095,258

Provisions for liabilities
  

Deferred tax
 18 
(19,533)
(13,119)

  
 
 
(19,533)
 
 
(13,119)

Net assets
  
905,515
1,082,139


Capital and reserves
  

Called up share capital 
 19 
100
100

Profit and loss account
  
905,415
1,082,039

  
905,515
1,082,139


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Kenyon-Slaney
Director

Date: 20 May 2025

The notes on pages 11 to 23 form part of these financial statements.

Page 9

 
THE LONDON SPEAKER BUREAU LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
218,845
681,471

Adjustments for:

Amortisation of intangible assets
-
7,500

Depreciation of tangible assets
34,112
24,924

Interest paid
25
-

Interest received
(98,677)
(87,642)

Taxation charge
148,717
249,925

Decrease/(increase) in debtors
57,038
(768,984)

(Decrease)/increase in creditors
(118,465)
481,704

Corporation tax (paid)
(382,572)
(216,601)

Net cash generated from operating activities

(140,977)
372,297


Cash flows from investing activities

Purchase of tangible fixed assets
(56,878)
(10,000)

Interest received
98,677
87,642

Net cash from investing activities

41,799
77,642

Cash flows from financing activities

Dividends paid
(395,469)
(708,033)

Interest paid
(25)
-

Net cash used in financing activities
(395,494)
(708,033)

Net (decrease) in cash and cash equivalents
(494,672)
(258,094)

Cash and cash equivalents at beginning of year
4,182,755
4,440,849

Cash and cash equivalents at the end of year
3,688,083
4,182,755


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,688,083
4,182,755

3,688,083
4,182,755


The notes on pages 11 to 23 form part of these financial statements.

Page 10

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The London Speaker Bureau Limited is a private company, company number 02967482, limited by shares  incorporated in England and Wales. The registered office is 235 Kensington High Street, London, W8 6SF.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

  
2.3

Turnover

Turnover is recognised at the fair value of consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. 
Revenue in respect of speaker events is recognised in the period the event is held.

 
2.4

Exemption from preparing consolidated financial statements

The company has one subsidiary. The company has taken advantage of the exemption from preparing consolidated financial statements allowed by FRS102 on the grounds that the activities of the subsidiary company are wholly immaterial. 

 
2.5

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.

 The estimated useful lives range as follows:

Websites
-
4
years straight line

Page 11

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

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, fitting & equipment
-
25%
Computer equipment
-
25%

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.

 
2.7

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for
Page 12

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

  

Basic financial liabilities

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 13

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

  
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. 
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 

 
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 profit or loss 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

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases assets are consumed.

  
2.13

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. 

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

Page 14

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Fee income
20,527,307
19,655,148

Recharged expenses
634,233
528,163

21,161,540
20,183,311



5.


Turnover analysed by geographical market

2024
2023
£
£



United Kingdom
5,200,314
5,069,315

EU
6,164,817
5,360,636

North America
1,780,334
1,877,465

Middle East
3,305,999
3,769,491

Rest of World
4,710,076
4,106,404

21,161,540
20,183,311


6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange (gains) and losses
(17,409)
20,460

Other operating lease rentals
120,124
119,815

Depreciation of owned tangible fixed assets
34,112
24,924

Amortisation of intangible assets
-
7,500

Page 15

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
10,300
9,850

Fees payable to the Company's auditors for non audit services
5,200
4,950


8.


Employees

Staff costs, including director's remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,155,418
1,006,960

Social security costs
131,060
122,432

Cost of defined contribution scheme
86,162
80,856

1,372,640
1,210,248


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Staff
13
12

Page 16

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Director's remuneration

2024
2023
£
£

Director's emoluments
273,000
348,000

Company contributions to defined contribution pension schemes
40,854
42,480

313,854
390,480


During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £273,000 (2023 - £348,000).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £40,854 (2023 - £42,480).


10.


Interest receivable

2024
2023
£
£


Interest on bank deposits
98,677
87,642

98,677
87,642

Page 17

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
146,911
252,485

Adjustments in respect of previous periods
(4,608)
-


142,303
252,485


Total current tax
142,303
252,485

Deferred tax


Origination and reversal of timing differences
6,414
(2,560)

Total deferred tax
6,414
(2,560)


Tax on profit
148,717
249,925

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.01%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
367,562
931,396


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.01%)
91,891
214,323

Effects of:


Tax effect of expenses that are not deductible in determining taxable profit
70,333
34,958

Capital allowances for year in excess of depreciation
(5,692)
-

Depreciation in excess of capital allowances
-
3,204

Deferred tax
6,414
(2,560)

Adjustments to tax charge in respect of prior periods
(4,608)
-

Qualifying charitable donations
(9,621)
-

Total tax charge for the year
148,717
249,925

Page 18

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

12.


Dividends

2024
2023
£
£


Interim paid
395,469
708,033

395,469
708,033


13.


Intangible assets




Websites

£



Cost


At 1 December 2023
102,503



At 30 November 2024

102,503



Amortisation


At 1 December 2023
102,503



At 30 November 2024

102,503



Net book value



At 30 November 2024
-



At 30 November 2023
-



Page 19

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Tangible fixed assets





Fixtures, fittings and equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2023
259,790
74,402
334,192


Additions
56,878
-
56,878



At 30 November 2024

316,668
74,402
391,070



Depreciation


At 1 December 2023
195,370
60,723
256,093


Charge for the year on owned assets
29,552
4,560
34,112



At 30 November 2024

224,922
65,283
290,205



Net book value



At 30 November 2024
91,746
9,119
100,865



At 30 November 2023
64,420
13,679
78,099


15.


Debtors

2024
2023
£
£


Trade debtors
1,558,751
1,780,699

Other debtors
1,162,556
1,020,573

Prepayments and accrued income
143,998
121,071

Corporation tax recoverable
165,534
162,901

3,030,839
3,085,244


Page 20

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

16.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,688,083
4,182,755

3,688,083
4,182,755



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,626,457
2,475,394

Corporation tax
149,544
387,180

Other taxation and social security
35,997
18,809

Other creditors
391,773
307,377

Accruals and deferred income
2,690,968
3,062,080

5,894,739
6,250,840



18.


Deferred taxation




2024


£






At beginning of year
(13,119)


Charged to profit or loss
(6,414)



At end of year
(19,533)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,623)
(13,951)

Short term timing differences
1,090
832

(19,533)
(13,119)

Page 21

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

19.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) ordinary shares shares of £1.00 each
100
100



20.


Defined contributed schemes

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independent administered fund. The pension cost represents contributions payable by the company to the funds and amounted to £86,162 (2023: £80,856). Contributions outstanding at the year end amounted to £6,168 (2023: £4,939).


21.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
62,724
69,000

Later than 1 year and not later than 5 years
239,135
276,555

Later than 5 years
-
56,062

301,859
401,617


22.


Transactions with directors

Dividends totalling £395,469 (2023 - £708,033) were paid in the year in respect of shares held by the company's directors. 
Included within other debtors due within one year are interest free loans to directors, amounting to £485,698 (2023 - £477,898). Amounts advanced in the year totalled £85,800 (2023 - £479,097) and amounts repaid during the year totalled £78,000 (2023 - £80,000). 

Page 22

 
THE LONDON SPEAKER BUREAU LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

23.


Related party transactions

Remuneration of key management personnel
All directors and certain senior employees who have authority for planning, directing and controlling the activities of the company are considered to be key management personnel. Total remuneration excluding social contributions in respect of these individuals is  £526,554 (2023 - £561,980).
Other information
The London Speaker Bureau ("LSB") has engaged in transactions with the following companies which are under common control by the company's shareholder: -
London Speaker Bureau France SA ("LSB France"): The amount owed by LSB to LSB France at the year end is £7,687 (2023 - £nil). LSB reimbursed LSB France for expenditure made on behalf of LSB during the year. No related party transactions have occurred during the year.
London Speaker Bureau India ("LSB India"), an events company operating in India: During the year LSB has processed transactions on behalf of LSB India with a net effect on profit of £(3,115) (2023 - £23,622). In addition, LSB charged LSB India an administration fee of £nil (2023 - £12,283). The amount owed by LSB India to LSB at the year end is £nil (2023 - £58,529) and the amount owed by LSB to LSB India is £4,166 (2023 -  £48,954).
London Speaker Bureau Middle East ("LSB ME"), an events company operating in the Middle East: 
The company holds a 10% investment in LSB (ME). The investment is shown at a cost of £nil in the financial statements. No transactions have occurred during the year in respect of this investment. Further information regarding other transactions with this company are shown below:
LSB has processed transactions on behalf of LSB ME with a net effect on profit of £nil (2023- £(9,634)). In addition, LSB paid rent and expenses to LSB ME totalling £43,677 (2023 - £39,029). The amount owed by LSB ME to LSB at the year end is £nil (2023 - £12,328) and the amount owed by LSB to LSB ME is £10,027 (2023 - £14,078). 
 

 
Page 23