True Agency Limited 07648826 false 2024-12-01 2025-11-30 2025-11-30 The principal activity of the company is the provision of marketing, advertising and brand development services. Digita Accounts Production Advanced 6.30.9574.0 true true 07648826 2024-12-01 2025-11-30 07648826 2025-11-30 07648826 bus:OrdinaryShareClass1 2025-11-30 07648826 bus:OrdinaryShareClass2 2025-11-30 07648826 core:CurrentFinancialInstruments 2025-11-30 07648826 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 07648826 core:Non-currentFinancialInstruments core:AfterOneYear 2025-11-30 07648826 core:FurnitureFittingsToolsEquipment 2025-11-30 07648826 core:OtherPropertyPlantEquipment 2025-11-30 07648826 bus:SmallEntities 2024-12-01 2025-11-30 07648826 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 07648826 bus:FilletedAccounts 2024-12-01 2025-11-30 07648826 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 07648826 bus:RegisteredOffice 2024-12-01 2025-11-30 07648826 bus:Director1 2024-12-01 2025-11-30 07648826 bus:Director2 2024-12-01 2025-11-30 07648826 bus:OrdinaryShareClass1 2024-12-01 2025-11-30 07648826 bus:OrdinaryShareClass2 2024-12-01 2025-11-30 07648826 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 07648826 bus:Agent1 2024-12-01 2025-11-30 07648826 core:FurnitureFittings 2024-12-01 2025-11-30 07648826 core:FurnitureFittingsToolsEquipment 2024-12-01 2025-11-30 07648826 core:OtherPropertyPlantEquipment 2024-12-01 2025-11-30 07648826 core:PlantMachinery 2024-12-01 2025-11-30 07648826 core:UKTax 2024-12-01 2025-11-30 07648826 countries:AllCountries 2024-12-01 2025-11-30 07648826 2024-11-30 07648826 core:CostValuation 2024-11-30 07648826 core:FurnitureFittingsToolsEquipment 2024-11-30 07648826 core:OtherPropertyPlantEquipment 2024-11-30 07648826 2023-12-01 2024-11-30 07648826 2024-11-30 07648826 bus:OrdinaryShareClass1 2024-11-30 07648826 bus:OrdinaryShareClass2 2024-11-30 07648826 core:CurrentFinancialInstruments 2024-11-30 07648826 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 07648826 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 07648826 core:FurnitureFittingsToolsEquipment 2024-11-30 07648826 core:OtherPropertyPlantEquipment 2024-11-30 07648826 core:UKTax 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07648826

True Agency Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 November 2025

True Agency Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

True Agency Limited

Company Information

Directors | C Mingides R Parsons

Registered office | 4th Floor 104 Oxford Street London W1D 1LP

Accountants | Thomas Alexander & Co Ltd 590 Green Lanes Palmers Green London N13 5RY

True Agency Limited

(Registration number: 07648826)
Balance Sheet as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 21,064 | 24,517
Investments | 6 | 15,737 | 15,737
|  | 36,801 | 40,254
Current assets |  |  |
Debtors | 7 | 723,145 | 1,165,482
Cash at bank and in hand |  | 1,994,409 | 424
|  | 2,717,554 | 1,165,906
Creditors: Amounts falling due within one year | 8 | (2,812,085) | (1,292,831)
Net current liabilities |  | (94,531) | (126,925)
Total assets less current liabilities |  | (57,730) | (86,671)
Creditors: Amounts falling due after more than one year | 8 | (253,704) | (261,775)
Provisions for liabilities |  | (5,266) | (6,561)
Net liabilities |  | (316,700) | (355,007)
Capital and reserves |  |  |
Called up share capital | 9 | 102 | 102
Retained earnings |  | (316,802) | (355,109)
Shareholders' deficit |  | (316,700) | (355,007)

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Board on 13 July 2026 and signed on its behalf by:

......................................... C Mingides Director

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1 | General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
4th Floor
104 Oxford Street
London
W1D 1LP

These financial statements were authorised for issue by the Board on 13 July 2026.

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 financial statements have been prepared on a going concern basis. The directors anticipate that the net asset deficiency will be recovered following the year end due to improved operating performance.

Revenue 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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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
Plant & machinery | 25% Straight Line
Fixtures, fittings & equipment | 20% Reducing balance method

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2024 - 20).

4 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 46,059 | (76,616)
Deferred taxation |  |
Arising from origination and reversal of timing differences | (1,295) | -
Tax expense/(receipt) in the income statement | 44,764 | (76,616)

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

5 | Tangible assets

| Furniture, fittings and equipment £ | Plant & machinery £ | Total £
Cost or valuation
At 1 December 2024 | 96,879 | 2,790 | 99,669
Additions | 1,813 | - | 1,813
At 30 November 2025 | 98,692 | 2,790 | 101,482
Depreciation
At 1 December 2024 | 72,362 | 2,790 | 75,152
Charge for the year | 5,266 | - | 5,266
At 30 November 2025 | 77,628 | 2,790 | 80,418
Carrying amount
At 30 November 2025 | 21,064 | - | 21,064
At 30 November 2024 | 24,517 | - | 24,517

6 | Investments

| 2025 £ | 2024 £
Investments in associates | 15,737 | 15,737

Associates | £
Cost
At 1 December 2024 | 15,737
Provision
Carrying amount
At 30 November 2025 | 15,737
At 30 November 2024 | 15,737

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 327,947 | 905,761
Prepayments | 187,228 | 65,114
Other debtors | 207,970 | 194,607
| 723,145 | 1,165,482

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Bank overdrafts | - | 5,317
Other loans | 40,114 | 84,101
Trade creditors | 2,480,793 | 607,584
Accruals and deferred income | 184,146 | 150,304
Taxation and social security | 22,786 | 320,351
Corporation tax liability | 46,059 | 98,320
Outstanding defined contribution pension costs | 1,460 | 3,697
Other creditors | 36,727 | 23,157
| 2,812,085 | 1,292,831

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 253,704 | 261,775

True Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A Shares of £0.00001 each | 7,140,000 | 71.40 | 7,140,000 | 71.40
Ordinary C Shares of £0.00001 each | 3,060,000 | 30.60 | 3,060,000 | 30.60
| 10,200,000 | 102.00 | 10,200,000 | 102

10 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £0.8137 (2024 - £0.0067) per ordinary share |  | 83,000 |  | 68,528

The dividends are drawn in excess of the distributable profits. This is in contravention of the Companies Act. However the directors anticipate to rectify this situation from the profits of the next financial year.

11 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2024 - £73,050).