Company Registration No. 5915938 (England and Wales)
KINGSLEY SEARCH & SELECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
KINGSLEY SEARCH & SELECTION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
KINGSLEY SEARCH & SELECTION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,243
1,033
Current assets
Debtors
4
456,283
286,399
Cash at bank and in hand
58,945
140,556
515,228
426,955
Creditors: amounts falling due within one year
5
(284,698)
(195,682)
Net current assets
230,530
231,273
Total assets less current liabilities
231,773
232,306
Creditors: amounts falling due after more than one year
6
(32,804)
(50,000)
Net assets
198,969
182,306
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
198,968
182,305
Total equity
198,969
182,306
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 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
KINGSLEY SEARCH & SELECTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 July 2022
Mr A Pope
Director
Company Registration No. 5915938
KINGSLEY SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Kingsley Search & Selection Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Cholsey Grange, Ibstone, High Wycombe, Buckinghamshire, United Kingdom, HP14 3XT.
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for 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.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
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:
Computers
50% on cost and 25% on cost
1.4
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
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.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
KINGSLEY SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
4
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2021
5,455
Additions
634
At 31 March 2022
6,089
Depreciation and impairment
At 1 April 2021
4,422
Depreciation charged in the year
424
At 31 March 2022
4,846
Carrying amount
At 31 March 2022
1,243
At 31 March 2021
1,033
KINGSLEY SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
336,183
197,742
Other debtors
120,100
88,657
456,283
286,399
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
9,696
Trade creditors
65,634
62,588
Taxation and social security
136,298
72,411
Other creditors
73,070
60,683
284,698
195,682
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
32,804
50,000
7
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:
2022
2021
£
£
6,822
21,006
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors' loan
-
-
10,000
10,000
-
10,000
10,000