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REGISTERED NUMBER: 08900707 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 30 NOVEMBER 2024

FOR

ELECTRIC GLUE LIMITED

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 June 2023 to 30 November 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


ELECTRIC GLUE LIMITED

COMPANY INFORMATION
For The Period 1 June 2023 to 30 November 2024







DIRECTORS: T Heden
P Glucklich



REGISTERED OFFICE: 62 Dean Street
London
W1D 4QF



REGISTERED NUMBER: 08900707 (England and Wales)



SENIOR STATUTORY AUDITOR: Frances Howard FCA



AUDITORS: Fortus Audit LLP
Equinox House
Clifton Park
Shipton Road
York
YO30 5PA

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

STRATEGIC REPORT
For The Period 1 June 2023 to 30 November 2024


The directors present their strategic report for the period 1 June 2023 to 30 November 2024.

Electric Glue is an independent media agency. Our principal activities are strategy, media planning and execution for UK clients across all ATL marketing channels.

REVIEW OF BUSINESS
Electric Glue's purpose is to help clients scale their businesses by glueing the marketing funnel in a media environment of increasing complexity, through our guiding principle of 'Sacrifice'. Simply put, this means encouraging clients to do fewer, bigger, and better things which have an impact with their customers, in their sector and on their businesses. With Sir John Hegarty, creative founder of global advertising agency Bartle Bogle Hegarty as our chair, our 'why' is a strong belief that ideas can solve any problem and drive business growth.

Electric Glue operates predominantly in the UK media marketplace, whilst showed growth overall this was predominantly driven by investment in digital channels (for example Display grew by +15%), the marketplace was dominated by global economic and political uncertainty and considerable caution from marketers.

2023/4 turned out to be an unexpectedly challenging year, due to the difficult economic environment but in particular as one of our key clients Starling Bank were forced to suspend all planned spend following a ruling by the FCA. This meant having to pull back on some of the capabilities we had strengthened the previous fiscal year, with the exception of our data and content creation capabilities, which are demonstrating positive return on investment for clients and where we see strong growth opportunities moving forward. This period however did see us secure new business wins from FMCG brand Purdy & Figg, digital entertainment business Clays and an intense pitch process for insurance brand Royal Sun Alliance, recently taken over by Canadian insurance company Intact.

As we celebrated our first decade in June 2024, the founders and management team looked to the future and together developed a 3 year business plan to progress growth in 3 key areas - people growth, product growth and profit growth. As part of this process, the three founders decided to step back from their operational responsibilities but remain in a committed and supportive role to the core management team (now including CSO Richard Helyar who has joined the board) whilst also exploring new partnerships and opportunities to strengthen Electric Glue's product offering.

Lastly but importantly, we are one of few agencies in the UK and worldwide to be certified B Corp and remain committed to the highest standard of transparency and accountability that is demanded in the B Corp accreditation process.

PRINCIPAL RISKS AND UNCERTAINTIES
The Company's business does not expose it to any risks other than those associated with normal commercial trading. The list of risks is not exclusive, and it does not list the risks in any order of likelihood or materiality.

FINANCIAL PERFORMANCE
Revenue for the period ended 30 November 2024 was £28.7m (£26.5m in May 2023), generating a Gross Profit of £3.0m (£2.7m in May 2023) and a trading EBITDA (as defined in note 1 below ) of £-0.298m (£0.634m in May 2023). The year ended 31st May 2023 covers 12 months and period ended 30th November covers 18 months and they are therefore not comparable.

Note 1: Trading EBITDA is defined as Earnings Before Interest, Tax, Depreciation and Amortisation. This measure reflects the underlying operating profitability.


ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

STRATEGIC REPORT
For The Period 1 June 2023 to 30 November 2024

COMPETITION
The media landscape is intensely competitive and, in many respects, oversaturated. Electric Glue operates as an independent business with a distinctive proposition, a unique in-sourcing model, and a proven track record built on senior, highly experienced talent.

These qualities allow us to clearly differentiate ourselves and thrive within the media agency market.

IT AND DATA SECURITY
The company has secure and appropriate controls in place to mitigate the risk of systems failure including backup procedures, disaster recovery plans, virus protection and network security controls.

RISK
Price risk

The company operated at an EBITDA to gross profit margin of -9.94% in 2024 so, the company is highly vulnerable to a reduction in client prices of this percentage. The company regularly reviews client pricing structures.

Cashflow and liquidity risk

In order to maintain liquidity and to ensure that the company has sufficient funds available for ongoing operations and to meet its obligations, the company places surplus funds in a high-interest-bearing account.
The company is occasionally exposed to the financial risk of changes in foreign exchange rates and interest rates. The company will use forward foreign currency contracts going forward to minimise the exposure.

Credit risk

The company's credit risk arises primarily through trade debtors. The amounts presented in the balance sheet are, if required, net of bad debt provisions. A bad debt provision is recognised by the entity when there is objective evidence that a debtor has become impaired - for example where the customer enters into bankruptcy proceedings. Where possible, to reduce risk, the company credit insures its client debt.

Interest rate risk.

The company has no exposure to any risks associated with movements in interest rates.

ON BEHALF OF THE BOARD:





P Glucklich - Director


29 August 2025

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

REPORT OF THE DIRECTORS
For The Period 1 June 2023 to 30 November 2024


The directors present their report with the financial statements of the company for the period 1 June 2023 to 30 November 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of providing media buying strategy and implementation services to clients.

DIVIDENDS
The total distribution of dividends for the period ended 30 November 2024 will be £ 274,488 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

T Heden
P Glucklich

Other changes in directors holding office are as follows:

K Brown - resigned 30 October 2024
N Kendall - resigned 30 October 2024
S Orpin - resigned 30 October 2024

POLITICAL DONATIONS AND EXPENDITURE
No political donations were made in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements 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 directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

REPORT OF THE DIRECTORS
For The Period 1 June 2023 to 30 November 2024


AUDITORS
The auditors, Fortus Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Glucklich - Director


29 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELECTRIC GLUE LIMITED


Opinion
We have audited the financial statements of Electric Glue Limited (the 'company') for the period ended 30 November 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 loss for the period 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 UK, including the FRC'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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELECTRIC GLUE LIMITED


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 directors' 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 Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELECTRIC GLUE LIMITED


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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis of our opinion. This includes consideration of the risk of acts by the entity that we contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 laws and 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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELECTRIC GLUE LIMITED


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 2006. Our 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 a Report of the Auditors 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.




Frances Howard FCA (Senior Statutory Auditor)
for and on behalf of Fortus Audit LLP
Equinox House
Clifton Park
Shipton Road
York
YO30 5PA

29 August 2025

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

INCOME STATEMENT
For The Period 1 June 2023 to 30 November 2024

Period
1.6.23
to Year Ended
30.11.24 31.5.23
Notes £    £   

TURNOVER 3 28,664,579 26,452,212

Cost of sales 25,684,969 23,745,699
GROSS PROFIT 2,979,610 2,706,513

Administrative expenses 3,286,157 2,075,759
OPERATING (LOSS)/PROFIT (306,547 ) 630,754

Interest receivable and similar income 6 41,083 18,271
(265,464 ) 649,025

Interest payable and similar expenses 7 1,220 3,105
(LOSS)/PROFIT BEFORE TAXATION 8 (266,684 ) 645,920

Tax on (loss)/profit 9 239 137,404
(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD

(266,923

)

508,516

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

OTHER COMPREHENSIVE INCOME
For The Period 1 June 2023 to 30 November 2024

Period
1.6.23
to Year Ended
30.11.24 31.5.23
Notes £    £   

(LOSS)/PROFIT FOR THE PERIOD (266,923 ) 508,516


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

(266,923

)

508,516

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 6,456 5,501
Investments 12 100,000 -
106,456 5,501

CURRENT ASSETS
Debtors 13 1,617,591 3,792,081
Cash at bank and in hand 1,454,788 2,834,144
3,072,379 6,626,225
CREDITORS
Amounts falling due within one year 14 2,725,980 5,661,371
NET CURRENT ASSETS 346,399 964,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

452,855

970,355

PROVISIONS FOR LIABILITIES 15 1,614 1,375
NET ASSETS 451,241 968,980

CAPITAL AND RESERVES
Called up share capital 16 71,410 47,738
Capital redemption reserve 17 52,763 52,763
Retained earnings 17 327,068 868,479
SHAREHOLDERS' FUNDS 451,241 968,980

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:




P Glucklich - Director



T Heden - Director


ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

STATEMENT OF CHANGES IN EQUITY
For The Period 1 June 2023 to 30 November 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 June 2022 47,738 359,963 52,763 460,464

Changes in equity
Total comprehensive income - 508,516 - 508,516
Balance at 31 May 2023 47,738 868,479 52,763 968,980

Changes in equity
Issue of share capital 23,672 - - 23,672
Dividends - (274,488 ) - (274,488 )
Total comprehensive income - (266,923 ) - (266,923 )
Balance at 30 November 2024 71,410 327,068 52,763 451,241

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

CASH FLOW STATEMENT
For The Period 1 June 2023 to 30 November 2024

Period
1.6.23
to Year Ended
30.11.24 31.5.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (889,206 ) (3,993,894 )
Interest paid (1,220 ) (3,105 )
Tax paid (136,853 ) (54,503 )
Net cash from operating activities (1,027,279 ) (4,051,502 )

Cash flows from investing activities
Purchase of tangible fixed assets (9,284 ) (4,774 )
Purchase of fixed asset investments (100,000 ) -
Interest received 41,083 18,271
Net cash from investing activities (68,201 ) 13,497

Cash flows from financing activities
Loan repayments in year - (100,000 )
Amount introduced by directors 31,184 29,552
Amount withdrawn by directors (64,244 ) (6 )
Share issue 23,672 -
Equity dividends paid (274,488 ) -
Net cash from financing activities (283,876 ) (70,454 )

Decrease in cash and cash equivalents (1,379,356 ) (4,108,459 )
Cash and cash equivalents at
beginning of period

2

2,834,144

6,942,603

Cash and cash equivalents at end of
period

2

1,454,788

2,834,144

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE CASH FLOW STATEMENT
For The Period 1 June 2023 to 30 November 2024


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
(Loss)/profit before taxation (266,684 ) 645,920
Depreciation charges 8,329 3,612
Finance costs 1,220 3,105
Finance income (41,083 ) (18,271 )
(298,218 ) 634,366
Decrease/(increase) in trade and other debtors 2,207,550 (486,850 )
Decrease in trade and other creditors (2,798,538 ) (4,141,410 )
Cash generated from operations (889,206 ) (3,993,894 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 November 2024
30.11.24 1.6.23
£    £   
Cash and cash equivalents 1,454,788 2,834,144
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 2,834,144 6,942,603


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.23 Cash flow At 30.11.24
£    £    £   
Net cash
Cash at bank and in hand 2,834,144 (1,379,356 ) 1,454,788
2,834,144 (1,379,356 ) 1,454,788
Total 2,834,144 (1,379,356 ) 1,454,788

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 June 2023 to 30 November 2024


1. STATUTORY INFORMATION

Electric Glue is a private company, limited by shares, registered in England and Wales. The company's registered number is 08900707 and the registered office address is 62 Dean Street, London W1D 4QF.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After reviewing the company’s forecasts and projections, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In order to properly apply the company's accounting policies, the directors are required to make judgements and estimates in respect of carrying values of assets and liabilities which may not be apparent from other sources of information. The directors base these critical accounting judgements and estimations on previous historical experience and other factors which the directors judge to be relevant. There is nothing significant to report.

Turnover
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
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 the Income Statement.

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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Foreign currencies
The company's functional and presentational currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income Statement.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within "operating income" or "administrative expenses".

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

Creditors
Short term creditors are measured at the transaction price.

3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Media Buying 28,664,579 26,452,212
28,664,579 26,452,212

Turnover relates to media buying in the United Kingdom.

4. EMPLOYEES AND DIRECTORS
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Wages and salaries 1,579,356 1,076,432
Social security costs 190,315 136,920
Other pension costs 19,184 6,752
1,788,855 1,220,104

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
1.6.23
to Year Ended
30.11.24 31.5.23

Administration 12 11

5. DIRECTORS' EMOLUMENTS
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Directors' remuneration 880,763 640,392

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Emoluments etc 241,725 180,306

Pension contributions paid by the company in respect of the directors totalled £49,844 (2023 £24,548).

The amount of pension contributions paid in respect of the highest paid director was £3,119 (2023:£1,321).

The directors are the key management personnel.

6. INTEREST RECEIVABLE AND SIMILAR INCOME
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Deposit account interest 40,841 17,852
Other interest 242 419
41,083 18,271

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Bank loan interest - 3,105
Other interest 1,220 -
1,220 3,105

8. (LOSS)/PROFIT BEFORE TAXATION

The loss (2023 - profit) is stated after charging:

Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Hire of plant and machinery 1,556 1,273
Other operating leases 188,542 123,750
Depreciation - owned assets 8,329 3,612
Auditors' remuneration 14,750 15,500
Foreign exchange differences - 59,718

9. TAXATION

Analysis of the tax charge
The tax charge on the loss for the period was as follows:
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Current tax:
UK corporation tax - 136,853

Deferred tax 239 551
Tax on (loss)/profit 239 137,404

UK corporation tax has been charged at 25% .

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
(Loss)/profit before tax (266,684 ) 645,920
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 25%)

(66,671

)

161,480

Effects of:
Expenses not deductible for tax purposes 27,770 10,151
Capital allowances in excess of depreciation (239 ) (589 )
Utilisation of tax losses 39,140 -
Adjustment for change in tax rate - (34,189 )
Deferred tax 239 551
Total tax charge 239 137,404

10. DIVIDENDS
Period
1.6.23
to Year Ended
30.11.24 31.5.23
£    £   
Ordinary B £0.10 shares of 10p each
Interim 61,165 -
Ordinary C £0.10 shares of 10p each
Interim 213,323 -
274,488 -

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


11. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 6,390 24,038 37,772 68,200
Additions - - 9,284 9,284
Disposals - (3,995 ) - (3,995 )
At 30 November 2024 6,390 20,043 47,056 73,489
DEPRECIATION
At 1 June 2023 6,390 24,038 32,271 62,699
Charge for period - (3,432 ) 11,761 8,329
Eliminated on disposal - (3,995 ) - (3,995 )
At 30 November 2024 6,390 16,611 44,032 67,033
NET BOOK VALUE
At 30 November 2024 - 3,432 3,024 6,456
At 31 May 2023 - - 5,501 5,501

12. FIXED ASSET INVESTMENTS
Unlisted
investment
£   
COST
Additions 100,000
At 30 November 2024 100,000
NET BOOK VALUE
At 30 November 2024 100,000

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 152,670 3,270,911
Other debtors 554,043 371,214
Directors' current accounts 52,932 19,872
VAT 206,298 -
Prepayments and accrued income 651,648 130,084
1,617,591 3,792,081

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,118,433 1,003,194
Tax - 136,853
Social security and other taxes 18,964 122,788
VAT - 556,684
Other creditors 1,412,195 632,845
Accruals and deferred income 59,106 3,127,745
Accrued expenses 117,282 81,262
2,725,980 5,661,371

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,614 1,375

Deferred
tax
£   
Balance at 1 June 2023 1,375
Charge to Income Statement during period 239
Balance at 30 November 2024 1,614

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
159,125 Ordinary B £0.10 10p 15,913 15,913
554,971 Ordinary C £0.10 10p 55,497 31,825
71,410 47,738

The following shares were issued during the period for cash at par :

236,721 Ordinary C £0.10 shares of 10p

Ordinary B and C shares have full and equal rights to participate in voting, dividends and capital distribution, whether on winding up or otherwise. The shares are not redeemable.

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


17. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 June 2023 868,479 52,763 921,242
Deficit for the period (266,923 ) (266,923 )
Dividends (274,488 ) (274,488 )
At 30 November 2024 327,068 52,763 379,831

Called-up share capital represents the nominal value of ordinary shares that have been issued.

Retained earnings include all current and prior period retained profits and losses.

The capital redemption reserve represents the nominal value of ordinary shares issued and then repurchased by the company.

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 November 2024 and the year ended 31 May 2023:

2024 2023
£    £   
K Brown
Balance outstanding at start of period 11,866 34,961
Amounts advanced 54,244 11,866
Amounts repaid (16,517 ) (34,961 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 49,593 11,866

T Heden
Balance outstanding at start of period 8,000 14,400
Amounts advanced 10,000 -
Amounts repaid (14,667 ) (6,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 3,333 8,000

S Orpin
Balance outstanding at start of period - 57
Amounts repaid - (57 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

No interest was paid on these loans.

ELECTRIC GLUE LIMITED (REGISTERED NUMBER: 08900707)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 June 2023 to 30 November 2024


19. RELATED PARTY DISCLOSURES

There are no further related party transactions that require disclosure.

20. SHARE-BASED PAYMENT TRANSACTIONS

Options over 236,721 shares were exercised in the year. At the year end there were no outstanding options (May 2023: 236,721).

21. PENSION COMMITMENTS

Contributions totalling £3,038 (May 2023: £300) were payable to the pension scheme at the period end.

22. OPERATING LEASE COMMITMENTS

At 30 November 2024 the company had rental commitments of £26,250 (May 2023: £25,000) due within one year.