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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED |
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Financial Statements |
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for the Year Ended 31 October 2019 |
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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED |
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Financial Statements |
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for the Year Ended 31 October 2019 |
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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Contents of the Financial Statements |
for the year ended 31 October 2019 |
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Page |
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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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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED |
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Company Information |
for the year ended 31 October 2019 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Balance Sheet |
31 October 2019 |
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2019 | 2018 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 5 |
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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 | 6 |
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Retained earnings | 7 |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Notes to the Financial Statements |
for the year ended 31 October 2019 |
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1. | Statutory information |
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The Actuarial Recruitment Company Limited is a
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and Wales. The 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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Compliance with accounting standards |
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The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards |
(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as |
otherwise stated). |
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Turnover |
Turnover represents amounts receivable for recruitment services net of VAT and trade discounts. |
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Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by |
including in the profit and loss account turnover and related costs as the contract activity progresses. Turnover |
is calculated as that proportion of total contract value which costs to date bear to total expected costs for that |
contract. |
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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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2019 |
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2. | Accounting policies - continued |
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Going concern |
After making enquiries, the directors believe that the company, with the continuing financial support of its |
shareholders, has adequate resources to continue in operational existence for the foreseeable future. For this |
reason, the directors have continued to adopt the going concern basis in preparing the financial statements. |
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Critical accounting judgements and estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
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(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can |
have a significant effect upon the financial statements. However due to the straight forward nature of the |
Company's business, management does not believe that there are any judgements that have a significant risk of |
causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
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(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates |
will, by definition, seldom equal the related actual results. However due to the straight forward nature of the |
Company's business, management does not believe that there are any estimates and assumptions that have a |
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the |
next financial year. |
THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2019 |
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2. | Accounting policies - continued |
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Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in |
commercial paper, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the asset's original effective interest |
rate. The impairment loss is recognised in profit or loss. |
If there is decrease in the impairment loss arising from an event occurring after the impairment was |
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed |
what the carrying amount would have been had the impairment not previously been recognised. The |
impairment reversal is recognised in profit or loss. |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are |
subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that |
investments in equity instruments that are not publically traded and whose fair values cannot be measured |
reliably are measured at cost less impairment. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are |
settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has |
been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third |
party without imposing additional restrictions. |
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(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from other group companies |
and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent |
that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the |
draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be |
drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the |
facility to which it relates. |
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Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts 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. |
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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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THE ACTUARIAL RECRUITMENT COMPANY |
LIMITED (REGISTERED NUMBER: 05262990) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2019 |
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4. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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5. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 24,851 | 46,001 |
Accruals and deferred income |
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6. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary Shares | 1 | 20 | 20 |
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7. | Reserves |
Retained |
earnings |
£ |
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At 1 November 2018 |
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Profit for the year |
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Dividends | ( |
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At 31 October 2019 |
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