Registered number
12903660
OKQ Agency Ltd
Filleted Accounts
30 September 2024
OKQ Agency Ltd
Registered number: 12903660
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,570 25,561
Investments 4 30 30
29,600 25,591
Current assets
Debtors 5 583,334 470,646
Cash at bank and in hand 1,206,508 363,163
1,789,842 833,809
Creditors: amounts falling due within one year 6 (604,183) (410,084)
Net current assets 1,185,659 423,725
Net assets 1,215,259 449,316
Capital and reserves
Called up share capital 150 150
Profit and loss account 1,215,109 449,166
Shareholders' funds 1,215,259 449,316
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jonathon O'Connor
Director
Approved by the board on 11 June 2025
OKQ Agency Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 42,378
Additions 19,471
At 30 September 2024 61,849
Depreciation
At 1 October 2023 16,817
Charge for the year 15,462
At 30 September 2024 32,279
Net book value
At 30 September 2024 29,570
At 30 September 2023 25,561
4 Investments
Other
investments
£
Cost
At 1 October 2023 30
At 30 September 2024 30
5 Debtors 2024 2023
£ £
Trade debtors 578,551 428,286
Other debtors 4,783 42,360
583,334 470,646
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 60,853 238,105
Taxation and social security costs 521,540 166,381
Other creditors 21,790 5,598
604,183 410,084
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 5,040 5,040
8 Related party transactions
The company had loaned £63,114 (2023 £38,357), interest free to The Useless Wooden Toys Ltd, a company in which the company had a 30% interest. This loan was written off in the period.
9 Other information
OKQ Agency Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44h Digital House
44 Simpson Street
Liverpool
L1 0AX
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