REGISTERED NUMBER: 08401138 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

DAUNTLESS AGENCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G J Davison

REGISTERED OFFICE:

86-90 Paul Street

London

EC2A 4NE

REGISTERED NUMBER:

08401138 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

FIXED ASSETS

Intangible assets

4

48

73

Tangible assets

5

2,452

9,608

2,500

9,681

CURRENT ASSETS

Debtors: amounts falling due within one year

6

244,687

183,644

Debtors: amounts falling due after more than one year

6

146,789

142,860

Cash at bank

276,092

89,131

667,568

415,635

CREDITORS

Amounts falling due within one year

7

(221,711

)

(114,156

)

NET CURRENT ASSETS

445,857

301,479

TOTAL ASSETS LESS CURRENT LIABILITIES

448,357

311,160

PROVISIONS FOR LIABILITIES

8

(613

)

(2,402

)

NET ASSETS

447,744

308,758

CAPITAL AND RESERVES

Called up share capital

9

380

380

Retained earnings

447,364

308,378

SHAREHOLDERS' FUNDS

447,744

308,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 June 2026 and were signed by:

G J Davison - Director

1.	STATUTORY INFORMATION

Dauntless Agency Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 86 - 90 Paul Street, London, England, EC2A 4NE.

The company's principal activity is that of information technology service activities.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Going concern

The director has assessed the appropriateness of preparing the financial statements on a going concern basis, taking into account the company's projected performance over the twelve months from the date of approval, anticipated cash flows, future pipeline, and risk mitigation strategies available during this period.

2025 represented a year of significant recovery and improved financial performance. Turnover increased to £2,077,920 (2024: £1,803,457), and the company returned to profitability, reporting a profit for the year of £138,986 compared to a loss of £187,636 in the prior year. This improved trading performance was supported by a substantially stronger cash position, with cash at bank growing to £276,092 (2024: £89,131), and net assets increasing to £447,744 (2024: £308,758). The company operates with a flexible cost structure, utilizing both contractors and employees, which enables it to scale its cost base proportionally with activity levels. The Company Voluntary Arrangement was fully implemented in September 2024, and the company now operates free of those obligations, with its full active status restored.

Considering these factors, the director remains confident in the company's ability to continue operating and has therefore prepared the financial statements on a going concern basis.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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:

Computer equipment - 33% straight line

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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 the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, 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. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Trademarks

£

Cost

At 1 January 2025

and 31 December 2025

248

Amortisation

At 1 January 2025

175

Amortisation for year

25

At 31 December 2025

200

Net book value

At 31 December 2025

48

At 31 December 2024

73

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 January 2025

and 31 December 2025

45,713

Depreciation

At 1 January 2025

36,105

Charge for year

7,156

At 31 December 2025

43,261

Net book value

At 31 December 2025

2,452

At 31 December 2024

9,608

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

219,161

109,627

Other debtors

18,070

16,328

VAT

-

10,209

Prepayments and accrued income

7,456

47,480

244,687

183,644

Amounts falling due after more than one year:

Other debtors

146,789

142,860

Aggregate amounts

391,476

326,504

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

26

Trade creditors

-

61,829

Social security and other taxes

68,334

17,210

VAT

26,391

-

Other creditors

-

2,791

Accruals and deferred income

126,986

32,300

221,711

114,156

The company entered into a Company Voluntary Arrangement with its creditors on 6 June 2019. The Company Voluntary Arrangement was fully implemented on 13 September 2024 and by this date all repayments due under the Arrangement had been made.

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Deferred tax

2,402

3,853

Charged to profit or loss

(1,789

)

(1,451

)

613

2,402

Deferred

tax

£

Balance at 1 January 2025

2,402

Credit to Statement of Income and Retained Earnings during year

(1,789

)

Balance at 31 December 2025

613

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

380

Ordinary shares

1

380

380

10.	RELATED PARTY DISCLOSURES

During the year, Icknield Limited charged the company £9,600 for director services (2024: £24,000). At 31 December 2025, the company owed £Nil (2024: £2,400) in respect of this balance, which is included in Trade creditors.

11.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund during the period and amounted to £10,995 (2024: £13,979). Contributions totalling £2,938 (2024: £2,791) were payable to the fund at the reporting date and are included in other creditors.