Agency Spring Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06300843 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

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

6,490

2,435

6,490

2,435

CURRENT ASSETS

Stocks

67,108

38,959

Debtors

6

154,604

144,926

Cash at bank and in hand

47,463

23,487

269,175

207,372

CREDITORS

Amounts falling due within one year

7

198,252

134,920

NET CURRENT ASSETS

70,923

72,452

TOTAL ASSETS LESS CURRENT LIABILITIES

77,413

74,887

CAPITAL AND RESERVES

Called up share capital

8

150,000

150,000

Retained earnings

9

(72,587

)

(75,113

)

SHAREHOLDERS' FUNDS

77,413

74,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 13 September 2018 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 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 6 (2016 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

73,371

AMORTISATION

At 1 January 2017

and 31 December 2017

73,371

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2017

65,037

7,941

72,978

Additions

1,277

5,308

6,585

At 31 December 2017

66,314

13,249

79,563

DEPRECIATION

At 1 January 2017

64,566

5,977

70,543

Charge for year

360

2,170

2,530

At 31 December 2017

64,926

8,147

73,073

NET BOOK VALUE

At 31 December 2017

1,388

5,102

6,490

At 31 December 2016

471

1,964

2,435

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

145,558

133,759

Net wages and pension control

-

408

Directors' current accounts

-

1,354

Prepayments

9,046

9,405

154,604

144,926

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

34,163

9,947

Amounts owed to group undertakings

120,532

49,597

Social security and other taxes

6,707

7,270

Pensions

(1,115

)

-

VAT

23,411

20,512

Other creditors

14,554

14,554

Accruals and deferred income

-

33,040

198,252

134,920

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

150,000

Ordinary

£1

150,000

150,000

9.

RESERVES

Retained

earnings

£

At 1 January 2017

(75,113

)

Profit for the year

2,526

At 31 December 2017

(72,587

)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017

and 31 December 2016:

31.12.17

31.12.16

£

£

Paul Iddon

Balance outstanding at start of year

1,354

(849

)

Amounts repaid

(1,354

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,354

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.