Company Registration No. 04088204 (England and Wales)
AT YOUR SERVICE EVENT STAFFING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
PAGES FOR FILING WITH REGISTRAR
AT YOUR SERVICE EVENT STAFFING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10
AT YOUR SERVICE EVENT STAFFING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2020
30 April 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
403
6,449
Property, plant and equipment
4
128,556
78,376
128,959
84,825
Current assets
Inventories
10,000
30,000
Trade and other receivables
5
762,882
1,178,259
Cash at bank and in hand
292,681
28,958
1,065,563
1,237,217
Current liabilities
6
(916,120)
(898,768)
Net current assets
149,443
338,449
Total assets less current liabilities
278,402
423,274
Non-current liabilities
7
(58,783)
-
Provisions for liabilities - deferred tax
(20,801)
(9,582)
Net assets
198,818
413,692
Equity
Called up share capital
9
140
106
Share premium account
23,791
22,341
Retained earnings
174,887
391,245
Total equity
198,818
413,692
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 April 2020 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 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.
AT YOUR SERVICE EVENT STAFFING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2020
30 April 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 November 2020 and are signed on its behalf by:
C M L Smith
Director
Company Registration No. 04088204
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
- 3 -
1
Accounting policies
Company information
At Your Service Event Staffing Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
12 The Talina Centre, Bagleys Lane, London, SW6 2BW.
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 £.
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
Going concern
Towards the end of the financial year and prior to the approval of these financial statements, the WHO declared a global COVID-19 pandemic and restrictions were put in place in the UK to contain the spread of this disease. Whilst the company has had to make some operational changes as a result of this, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
true
1.3
Revenue
Revenue 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
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
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.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values
on a straight line basis
over their useful lives on the following bases:
Software Development Costs
33.33%
1.5
Property, plant and equipment
Property, plant and equipment
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
1
Accounting policies
(Continued)
- 4 -
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on a straight line basis calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Office equipment
25%
Fixtures and fittings
25%
Computer equipment
25%
Motor vehicles
20%
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 the statement of income
.
1.6
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
Inventories held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in
the income statement
.
1.8
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include trade and other receivables 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
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 payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
1
Accounting policies
(Continued)
- 6 -
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
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.
1.15
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 income statement for the
year
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
587
713
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 7 -
3
Intangible fixed assets
Software Development Costs
£
Cost
At 1 May 2019 and 30 April 2020
249,520
Amortisation and impairment
At 1 May 2019
243,071
Amortisation charged for the year
6,046
At 30 April 2020
249,117
Carrying amount
At 30 April 2020
403
At 30 April 2019
6,449
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 May 2019
230,974
Additions
88,332
At 30 April 2020
319,306
Depreciation and impairment
At 1 May 2019
152,598
Depreciation charged in the year
38,152
At 30 April 2020
190,750
Carrying amount
At 30 April 2020
128,556
At 30 April 2019
78,376
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2020
2019
£
£
Motor vehicles
78,059
-
78,059
-
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 8 -
5
Trade and other receivables
2020
2019
£
£
Amounts falling due within one year:
Trade receivables
654,653
1,062,748
Corporation tax recoverable
31,545
-
Other receivables
70,684
109,511
756,882
1,172,259
2020
2019
£
£
Amounts falling due after more than one year:
Other receivables
6,000
6,000
Total debtors
762,882
1,178,259
6
Current liabilities
2020
2019
£
£
Trade payables
135,444
147,000
Corporation tax
-
37,000
Other taxation and social security
223,307
300,796
Other payables
557,369
413,972
916,120
898,768
7
Non-current liabilities
2020
2019
£
£
Other payables
58,783
-
8
Share-based payment transactions
The company has granted options to certain employees to subscribe for
Ordinary shares,
Ordinary A
and C
shares in the company under the terms of an Enterprise Management Incentive scheme. A summary of the principal terms and conditions of all options that existed during the year is as follows:
Grant date
Brought forward
Granted
Exercised
Lapsed
Carried forward
Number of employees
Exercise price
02-07-2014
80
-
-
80
-
1
£38.27
08-11-2018
50
-
50
-
-
2
£29.00
07-02-2019
3,300
-
3,300
-
-
2
£0.01
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
8
Share-based payment transactions
(Continued)
- 9 -
Options granted 02-07-2014 and 08-11-2018:
At the date of grant these options were deemed to have an immaterial value based upon the exercise price compared to the share price.
These options may not be exercised later than the day before the tenth anniversary of the Date of Grant.
During the year, 50 share options were exercised at a price of £29.00 per share.
Options granted 07-02-2019:
There are no performance conditions attached to the options and they vest at the earlier date of an exit or five years after the Date of Grant. At the date of grant these options were deemed to have an immaterial value based upon the exercise price compared to the share price.
The options shall lapse on the tenth anniversary of the Date of Grant.
During the year, 3,300 share options were exercised at a price of 1p per share.
9
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
8,500 Ordinary A shares of 1p each
85
85
1,500 Ordinary B shares of 1p each
15
15
3,300 (2019: 0) Ordinary C shares of 1p each
33
-
600 (2019: 550) Ordinary shares of 1p each
7
6
140
106
During the year, 50 Ordinary shares were issued at a price of £29.00 each and 3,300 Ordinary C shares were issued at a price of 1p each.
Ordinary shares, Ordinary A shares and Ordinary B shares have equal voting rights. Ordinary C shares carry no right to vote.
The directors may in their absolute discretion resolve to declare dividends or interim dividends on one or more classes of shares and may determine to declare different amounts on each class of share. No dividend shall be declared or paid on Ordinary C shares.
Upon a sale or winding up of the company, sale proceeds will be paid to Ordinary shareholders, Ordinary A shareholders and Ordinary B shareholders pro rata to their shareholdings up to the 2019 value of the company as stated in the Articles of Association. If sale proceeds exceed the 2019 value then the balance of the sale proceeds after the payment of the 2019 value shall be divided between Ordinary shareholders, Ordinary A shareholders, Ordinary B shareholders and Ordinary C shareholders pro rata to their shareholdings.
AT YOUR SERVICE EVENT STAFFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 10 -
10
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:
2020
2019
£
£
73,220
94,412
11
Directors' transactions
As at 30 April 2020 £4,478 (2019: (£999)) was due from CML Smith. This was the maximum outstanding.
2020-04-30
2019-05-01
false
30 November 2020
CCH Software
CCH Accounts Production 2020.200
No description of principal activity
H J Miller-Brown
C M L Smith
S J Weston
L C A Crowther
S J Weston
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