Company Registration No. 07048051 (England and Wales)
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
128,608
22,396
Current assets
Debtors
4
1,189,419
732,088
Cash at bank and in hand
1,839,832
1,476,463
3,029,251
2,208,551
Creditors: amounts falling due within one year
5
(659,852)
(438,982)
Net current assets
2,369,399
1,769,569
Total assets less current liabilities
2,498,007
1,791,965
Provisions for liabilities
(24,436)
(4,255)
Net assets
2,473,571
1,787,710
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
2,473,471
1,787,610
Total equity
2,473,571
1,787,710
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 September 2022
R J Willan
Director
Company Registration No. 07048051
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Given Agency Limited (Formerly known as Given London Limited) is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
1st Floor, 168-178 Shoreditch High Street, London, E1 6HU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £1.
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.
1.2
Going concern
The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following the unprecedented outbreak of Covid-19 which has resulted in the disruption to various businesses.
true
As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.
On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial statements on a going concern basis.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on cost
Computer equipment
50% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Financial instruments
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognized in the Income Statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity.
Current tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognized 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 recognized 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 recognized 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 recognized 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.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.8
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.
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.9
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
32
28
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2021
93,333
58,781
152,114
Additions
55,939
32,766
46,179
134,884
At 31 December 2021
149,272
91,547
46,179
286,998
Depreciation and impairment
At 1 January 2021
82,239
47,479
129,718
Depreciation charged in the year
12,318
15,392
962
28,672
At 31 December 2021
94,557
62,871
962
158,390
Carrying amount
At 31 December 2021
54,715
28,676
45,217
128,608
At 31 December 2020
11,094
11,302
22,396
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
913,773
306,940
Amounts owed by group undertakings
235,834
244,163
Other debtors
25,362
23,656
Prepayments and accrued income
14,450
157,329
1,189,419
732,088
GIVEN AGENCY LIMITED (FORMERLY KNOWN AS GIVEN LONDON LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
54,580
41,437
Corporation tax
137,224
101,662
Other taxation and social security
239,689
103,737
Deferred income
131,738
69,507
Other creditors
14,102
23,871
Accruals and deferred income
82,519
98,768
659,852
438,982
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
7
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
282,804
8
Related party transactions
The company has taken advantage of exemption under FRS102 not to disclose transactions within wholly owned group.
9
Directors' transactions
At the year end, the company owes £0 (2020 - £16,667) to the director in respect of interest free loan payable on demand.
10
Parent company
The parent company is Given Agency Holding Limited, a company registered in England and Wales.