Agile Consulting Services Limited Filleted accounts for Companies House (small and micro)

AGILE CONSULTING SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10433984

Agile Consulting Services Limited

Filleted Unaudited Financial Statements

31 October 2020

Agile Consulting Services Limited

Financial Statements

Year ended 31 October 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Agile Consulting Services Limited

Statement of Financial Position

31 October 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	6,034	1,303

Current assets

Debtors	6	16,500	13,278
Cash at bank and in hand		28,969	11,409
		--------	--------
		45,469	24,687

Creditors: amounts falling due within one year	7	30,915	25,265
		--------	--------
Net current assets/(liabilities)		14,554	( 578)
		--------	-------
Total assets less current liabilities		20,588	725

Provisions	1,147	–
	--------	----
Net assets	19,441	725
	--------	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	19,440	724
	--------	----
Shareholders funds	19,441	725
	--------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2020 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Agile Consulting Services Limited

Statement of Financial Position (continued)

31 October 2020

These financial statements were approved by the board of directors and authorised for issue on 7 April 2021 , and are signed on behalf of the board by:

Ms K D Boyle

Director

Company registration number: 10433984

Agile Consulting Services Limited

Notes to the Financial Statements

Year ended 31 October 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2019: 2 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 November 2019	2,496
Additions	7,140
	-------
At 31 October 2020	9,636
	-------
Depreciation
At 1 November 2019	1,193
Charge for the year	2,409
	-------
At 31 October 2020	3,602
	-------
Carrying amount
At 31 October 2020	6,034
	-------
At 31 October 2019	1,303
	-------

6. Debtors

	2020	2019
	£	£
Trade debtors	–	5,040
Other debtors	16,500	8,238
	--------	--------
	16,500	13,278
	--------	--------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	30	30
Corporation tax	9,179	19,162
Social security and other taxes	7,278	4,573
Other creditors	14,428	1,500
	--------	--------
	30,915	25,265
	--------	--------

8. Directors' advances, credits and guarantees

During the year no advances were made to the directors and £7,814 was repaid during the year.

9. Related party transactions

At the balance sheet date the company owed the directors £12,928 (2019: the directors owed the company £7,814). During the year dividends of £24,000 (2019: £95,000) were paid to the directors.