Agency Spring Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 06300843 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Agency Spring Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Paul Iddon

Peer Braendholt

REGISTERED OFFICE:

Charter Buildings

Ashton Lane

Sale

Cheshire

M33 6WT

BUSINESS ADDRESS:

31 Blackfriars Road

Salford

Greater Manchester

M3 7AQ

REGISTERED NUMBER:

06300843 (England and Wales)

ACCOUNTANTS:

Brackman Wolfe

Charter Buildings

9 Ashton Lane

Sale

Cheshire

M33 6WT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,435

3,211

2,435

3,211

CURRENT ASSETS

Stocks

38,959

49,654

Debtors

6

144,926

81,650

Cash at bank and in hand

23,487

4,204

207,372

135,508

CREDITORS

Amounts falling due within one year

7

134,920

72,239

NET CURRENT ASSETS

72,452

63,269

TOTAL ASSETS LESS CURRENT LIABILITIES

74,887

66,480

CAPITAL AND RESERVES

Called up share capital

8

150,000

150,000

Retained earnings

9

(75,113

)

(83,520

)

SHAREHOLDERS' FUNDS

74,887

66,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 23 May 2017 and were signed on its behalf by:

Paul Iddon - Director

1.	STATUTORY INFORMATION

Agency Spring Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of eight years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs

in bringing stocks to their present location and condition.

Taxation

Taxation for the year 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

73,371

AMORTISATION

At 1 January 2016

and 31 December 2016

73,371

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2016

64,516

6,843

71,359

Additions

521

1,098

1,619

At 31 December 2016

65,037

7,941

72,978

DEPRECIATION

At 1 January 2016

64,315

3,833

68,148

Charge for year

251

2,144

2,395

At 31 December 2016

64,566

5,977

70,543

NET BOOK VALUE

At 31 December 2016

471

1,964

2,435

At 31 December 2015

201

3,010

3,211

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

133,759

70,867

Net wages and pension control

408

1,972

Directors' current accounts

1,354

-

Prepayments

9,405

8,811

144,926

81,650

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

9,947

19,168

Amounts owed to group undertakings

49,597

24,094

Social security and other taxes

7,270

7,552

VAT

20,512

6,022

Other creditors

14,554

14,554

Directors' current accounts

-

849

Accruals and deferred income

33,040

-

134,920

72,239

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

150,000

Ordinary

£1

150,000

150,000

9.

RESERVES

Retained

earnings

£

At 1 January 2016

(83,520

)

Profit for the year

8,407

At 31 December 2016

(75,113

)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

Paul Iddon

Balance outstanding at start of year

(849

)

(1,065

)

Amounts advanced

2,203

216

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,354

(849

)

This amount will be repaid in full within 9 months of the year end.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Spring Holding ApS.

The ultimate controlling party is not known.