Company Registration No. 08401138 (England and Wales)
DAUNTLESS AGENCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017
PAGES FOR FILING WITH REGISTRAR
DAUNTLESS AGENCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DAUNTLESS AGENCY LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2017
28 February 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Intangible assets
3
109,863
117,924
Tangible assets
4
10,806
10,679
Investments
5
17,404
17,404
138,073
146,007
Current assets
Debtors
6
432,154
130,465
Cash at bank and in hand
3,312
21
435,466
130,486
Creditors: amounts falling due within one year
7
(411,319)
(206,527)
Net current assets/(liabilities)
24,147
(76,041)
Total assets less current liabilities
162,220
69,966
Creditors: amounts falling due after more than one year
8
(8,813)
(50,285)
Net assets
153,407
19,681
Capital and reserves
Called up share capital
9
380
380
Profit and loss reserves
153,027
19,301
Total equity
153,407
19,681
DAUNTLESS AGENCY LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2017
28 February 2017
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 8 March 2018 and are signed on its behalf by:
Mr J Chesney
Director
Company Registration No. 08401138
DAUNTLESS AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017
- 3 -
1
Accounting policies
Company information

Dauntless Agency Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 128A Kingston Road, Leatherhead, Surrey, KT22 7PU.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.

Amortisation 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:

Development Costs
33% & 50% straight line on a project basis
1.5
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.

DAUNTLESS AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2017
1
Accounting policies
(Continued)
- 4 -

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, fittings & equipment
10% straight line
Computer equipment
33.33% straight line
Motor vehicles
20% straight line

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.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

1.7
Equity instruments

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 20 (2016 - 20).

DAUNTLESS AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2017
- 5 -
3
Intangible fixed assets
Other
£
Cost
At 1 March 2016
147,957
Additions
96,135
At 28 February 2017
244,092
Amortisation and impairment
At 1 March 2016
30,033
Amortisation charged for the year
104,196
At 28 February 2017
134,229
Carrying amount
At 28 February 2017
109,863
At 29 February 2016
117,924
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2016
20,489
Additions
6,090
At 28 February 2017
26,579
Depreciation and impairment
At 1 March 2016
9,810
Depreciation charged in the year
5,963
At 28 February 2017
15,773
Carrying amount
At 28 February 2017
10,806
At 29 February 2016
10,679
DAUNTLESS AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2017
- 6 -
5
Fixed asset investments
2017
2016
£
£
Investments
17,404
17,404

 

6
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
249,095
20,532
Amounts owed by group undertakings
4,117
5,117
Other debtors
178,942
104,816
432,154
130,465
7
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
24,677
21,086
Trade creditors
55,437
45,707
Other taxation and social security
132,031
88,075
Other creditors
199,174
51,659
411,319
206,527

Included within other creditors is an amount of £128,803 (2016: £nil) which has been secured against the debts of the company.

8
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
8,813
50,285
9
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
380 ordinary shares of £1 each
380
380
380
380
DAUNTLESS AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2017
- 7 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2017
2016
£
£
20,625
37,125
11
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
3.00
35,428
86,542
2,237
(4,730)
119,477
35,428
86,542
2,237
(4,730)
119,477
2017-02-282016-03-01falseCCH SoftwareCCH Accounts Production 2017.410No description of principal activity09 March 2018084011382016-03-012017-02-28084011382017-02-28084011382016-02-2908401138core:IntangibleAssetsOtherThanGoodwill2017-02-2808401138core:IntangibleAssetsOtherThanGoodwill2016-02-2908401138core:OtherPropertyPlantEquipment2017-02-2808401138core:OtherPropertyPlantEquipment2016-02-2908401138core:CurrentFinancialInstruments2017-02-2808401138core:CurrentFinancialInstruments2016-02-2908401138core:Non-currentFinancialInstruments2017-02-2808401138core:Non-currentFinancialInstruments2016-02-2908401138core:ShareCapital2017-02-2808401138core:ShareCapital2016-02-2908401138core:ShareCapitalOrdinaryShares2017-02-2808401138core:ShareCapitalOrdinaryShares2016-02-2908401138bus:Director12016-03-012017-02-2808401138core:FurnitureFittings2016-03-012017-02-2808401138core:ComputerEquipment2016-03-012017-02-2808401138core:MotorVehicles2016-03-012017-02-2808401138core:IntangibleAssetsOtherThanGoodwill2016-02-2908401138core:IntangibleAssetsOtherThanGoodwill2016-03-012017-02-2808401138core:OtherPropertyPlantEquipment2016-02-2908401138core:OtherPropertyPlantEquipment2016-03-012017-02-2808401138bus:OrdinaryShareClass12016-03-012017-02-2808401138bus:OrdinaryShareClass12017-02-2808401138bus:PrivateLimitedCompanyLtd2016-03-012017-02-2808401138bus:FRS1022016-03-012017-02-2808401138bus:AuditExemptWithAccountantsReport2016-03-012017-02-2808401138bus:SmallCompaniesRegimeForAccounts2016-03-012017-02-2808401138bus:FullAccounts2016-03-012017-02-28xbrli:purexbrli:sharesiso4217:GBP