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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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 YEAR ENDED 31 DECEMBER 2018 |
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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 YEAR ENDED 31 DECEMBER 2018 |
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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 YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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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 2018 |
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2018 | 2017 |
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 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 directors acknowledge their responsibilities for: |
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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 Board of Directors on
by: |
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RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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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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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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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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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised 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. |
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Unrelieved tax losses and other deferred tax assets are recognised 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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2018 |
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Impairments | ( |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
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 |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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RIGHT ASSOCIATES LIMITED (REGISTERED NUMBER: 09144791) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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8. | GOING CONCERN |
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The directors consider that the company is a going concern and therefore the financial statements have been |
prepared on a going concern basis. |
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The on-going reduction in recruitment for the financial services market, partly caused by structural changes in |
the industry as well as the prolonged uncertainty over Brexit, has led to a loss-making division within the |
company. After reflection, the company has taken the view that this sector is unlikely to recover in the medium |
term and the situation has been addressed through closing the financial services division with the relevant |
redundancies, together with an adjustment in office space and other costs. At the same time, the company is |
looking to expand beyond the print and marketing sectors into the creative industries, where there is both some |
demand from the existing customer base and opportunities to gain new customers. There has been some early |
success in new contracts and placements and the company is confident that this sector represents a good |
opportunity for growth. |