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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 AUGUST 2015 TO 31 DECEMBER 2016 |
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RIGHT ASSOCIATES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 AUGUST 2015 TO 31 DECEMBER 2016 |
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FOR |
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RIGHT ASSOCIATES LIMITED |
RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2015 TO 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RIGHT ASSOCIATES LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2015 TO 31 DECEMBER 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 North Hill |
Colchester |
Essex |
CO1 1DZ |
RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2015 TO 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Right Associates Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Income is recognised when the |
placement commences but there is a clawback if the placement does not last more than 12 weeks. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
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COST |
At 1 August 2015 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 August 2015 |
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Charge for period |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 July 2015 |
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RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2015 TO 31 DECEMBER 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
Additions |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Deferred tax asset |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Social security and other taxes |
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VAT | 5,292 | 7,632 |
Other creditors |
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Directors' current accounts | 105,560 | 14,891 |
Accrued expenses |
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8. | GOING CONCERN |
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The financial statements have been prepared on a going concern basis. |
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In its second year of trading, the company has invested in diversifying the business operations into recruitment |
for senior positions in finance and banking for the regions of Europe and North America, as well as expanding its |
print management recruitment activities into marketing, point of sale and digital platforms. This has been further |
supported by investment into back office systems and offices, while adjustments have been made to salaries |
and commission structures to keep salary costs in line with the business plan. |
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The outcome of this investment has been the successful acquisition of a number of long term contracts with blue |
chip companies and institutions either as preferred supplier or sole agency. These new clients include EU |
financial institutions, banks, hedge funds and financial consultants, together with large print management and |
marketing companies. |
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There is a typical placement cycle of six months for high level recruitment, so increased revenue generated from |
this new business will start to flow in the new financial year, and these contracts should provide a solid revenue |
base for the business going forward. In recognition of this, the directors are investing a further £100,000 into |
share capital and will continue to support further developments in line with the business plan. |