5 3 Ask Locala Ltd 08585913 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is mobile advertising. Digita Accounts Production Advanced 6.30.9574.0 true false true 08585913 2024-01-01 2024-12-31 08585913 2024-12-31 08585913 core:RetainedEarningsAccumulatedLosses 2024-12-31 08585913 core:ShareCapital 2024-12-31 08585913 core:CurrentFinancialInstruments 2024-12-31 08585913 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 08585913 core:WithinOneYear 2024-12-31 08585913 bus:SmallEntities 2024-01-01 2024-12-31 08585913 bus:Audited 2024-01-01 2024-12-31 08585913 bus:FilletedAccounts 2024-01-01 2024-12-31 08585913 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08585913 bus:RegisteredOffice 2024-01-01 2024-12-31 08585913 bus:Director1 2024-01-01 2024-12-31 08585913 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08585913 bus:Agent1 2024-01-01 2024-12-31 08585913 core:PlantMachinery 2024-01-01 2024-12-31 08585913 1 2024-01-01 2024-12-31 08585913 countries:EnglandWales 2024-01-01 2024-12-31 08585913 countries:France 2024-01-01 2024-12-31 08585913 2023-01-01 2023-12-31 08585913 2023-12-31 08585913 core:RetainedEarningsAccumulatedLosses 2023-12-31 08585913 core:ShareCapital 2023-12-31 08585913 core:CurrentFinancialInstruments 2023-12-31 08585913 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08585913 core:WithinOneYear 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 08585913

Ask Locala Ltd

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Ask Locala Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Ask Locala Ltd

Company Information

Director

C Collet

Registered office

114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Ask Locala Ltd

(Registration number: 08585913)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

6

2,332,421

1,350,155

Cash at bank and in hand

 

350,548

497,186

 

2,682,969

1,847,341

Creditors: Amounts falling due within one year

7

(4,686,068)

(4,481,561)

Net liabilities

 

(2,003,099)

(2,634,220)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(2,003,199)

(2,634,320)

Shareholders' deficit

 

(2,003,099)

(2,634,220)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 June 2025
 

.........................................
C Collet
Director

 

Ask Locala Ltd

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

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is mobile advertising.

These financial statements were authorised for issue by the director on 27 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a profit in the period but has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Contract revenue recognition

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by the amount of advertising campaign delivered.

 

Ask Locala Ltd

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

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment,

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ask Locala Ltd

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

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Ask Locala Ltd

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

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 27 June 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 5 (2023 - 3).

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,697,418

780,718

Amounts owed by related parties

9

600,378

496,132

Prepayments

 

10,252

6,141

Other debtors

 

24,373

67,164

   

2,332,421

1,350,155

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

39,663

33,091

Amounts due to related parties

9

4,221,541

4,177,748

Social security and other taxes

 

207,558

169,652

Outstanding defined contribution pension costs

 

1,200

1,038

Accruals

 

216,106

40,404

Deferred income

 

-

59,628

 

4,686,068

4,481,561

 

Ask Locala Ltd

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

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

14,673

5,880

9

Related party transactions

The company has taken advantage of the exemption under Section 33.1A of FRS 102 Section 1A not to disclose related party transactions between the company and wholly owned members of the group.

10

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Ask Locala SAS, incorporated in France.

The address of Ask Locala SAS is:
55 rue d'Amsterdam 75008 Paris