IRIS Accounts Production v22.2.0.402 09994471 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure099944712020-12-31099944712021-12-31099944712021-01-012021-12-31099944712019-12-31099944712020-01-012020-12-31099944712020-12-3109994471ns16:EnglandWales2021-01-012021-12-3109994471ns15:PoundSterling2021-01-012021-12-3109994471ns11:Director12021-01-012021-12-3109994471ns11:Director22021-01-012021-12-3109994471ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3109994471ns11:SmallEntities2021-01-012021-12-3109994471ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3109994471ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3109994471ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3109994471ns11:FullAccounts2021-01-012021-12-3109994471ns11:RegisteredOffice2021-01-012021-12-3109994471ns6:CurrentFinancialInstruments2021-12-3109994471ns6:CurrentFinancialInstruments2020-12-3109994471ns6:ShareCapital2021-12-3109994471ns6:ShareCapital2020-12-3109994471ns6:RetainedEarningsAccumulatedLosses2021-12-3109994471ns6:RetainedEarningsAccumulatedLosses2020-12-3109994471ns6:ComputerEquipment2021-01-012021-12-3109994471ns6:ComputerEquipment2020-12-3109994471ns6:ComputerEquipment2021-12-3109994471ns6:ComputerEquipment2020-12-3109994471ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3109994471ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31099944712ns11:Director22020-12-31099944712ns11:Director22019-12-31099944712ns11:Director22021-01-012021-12-31099944712ns11:Director22020-01-012020-12-31099944712ns11:Director22021-12-31099944712ns11:Director22020-12-3109994471ns11:Director112020-12-3109994471ns11:Director112019-12-3109994471ns11:Director112021-01-012021-12-3109994471ns11:Director112020-01-012020-12-3109994471ns11:Director112021-12-3109994471ns11:Director112020-12-310999447112021-01-012021-12-31
REGISTERED NUMBER: 09994471 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Eden Smith Consulting Limited

Eden Smith Consulting Limited (Registered number: 09994471)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Eden Smith Consulting Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: J S Clark
M F Smith





REGISTERED OFFICE: 26 Dorset Gardens
Rochford
Essex
SS4 3AH





REGISTERED NUMBER: 09994471 (England and Wales)





ACCOUNTANTS: HCL Accountancy Limited
26 Dorset Gardens
Rochford
Essex
SS4 3AH

Eden Smith Consulting Limited (Registered number: 09994471)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,147 9,698

CURRENT ASSETS
Debtors 5 1,679,621 1,624,839
Cash at bank 117,720 72,621
1,797,341 1,697,460
CREDITORS
Amounts falling due within one year 6 2,237,845 1,895,226
NET CURRENT LIABILITIES (440,504 ) (197,766 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(425,357

)

(188,068

)

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (425,657 ) (188,368 )
(425,357 ) (188,068 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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
(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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2022 and were signed on its behalf by:



M F Smith - Director



J S Clark - Director


Eden Smith Consulting Limited (Registered number: 09994471)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Eden Smith Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover, which excludes value added tax, comprises the value of services undertaken by the company under its principal activity, which is the provision of recruitment consultancy services. This broadly consists of:

-turnover from contractor placements, representing fees billed for the services of contractors including their costs, which is recognised when the service has been provided.

-turnover from permanent placements, representing fees billed as a percentage of the candidate's remuneration package, which is recognised on the start date of the candidate.

Turnover not invoiced at the balance sheet date is included within accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 15% on reducing balance

Government grants
Government grants in relation to the Coronavirus Job Retention Scheme have been recognised within the accounts on a receipts basis.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Eden Smith Consulting Limited (Registered number: 09994471)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 10 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2021 13,442
Additions 7,512
At 31 December 2021 20,954
DEPRECIATION
At 1 January 2021 3,744
Charge for year 2,063
At 31 December 2021 5,807
NET BOOK VALUE
At 31 December 2021 15,147
At 31 December 2020 9,698

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 4,238 -
Other debtors 1,675,383 1,624,839
1,679,621 1,624,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 19,175 8,788
Taxation and social security 45,952 71,544
Other creditors 2,172,718 1,814,894
2,237,845 1,895,226

7. OTHER FINANCIAL COMMITMENTS AND GUARANTEES

All assets of the company are held as security formally charged to August Funding Limited by way of a debenture charge.

Eden Smith Consulting Limited (Registered number: 09994471)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
J S Clark
Balance outstanding at start of year 71,279 71,001
Amounts advanced 109 278
Amounts repaid (170 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,218 71,279

M F Smith
Balance outstanding at start of year 71,783 70,304
Amounts advanced - 1,479
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,783 71,783

At the balance sheet date the amount owed by the directors is included in debtors due within one year.

9. RELATED PARTY DISCLOSURES

During the period under review, the company provided consultancy fees of £626,584 (2020: £nil ) to Augusta Funding Limited. The following directors' of Augusta Funding Limited are J S Clark and M F Smith are also director's of Eden Smith Consulting Limited.

As at the balance sheet date, the company owed Augusta Funding Limited £934,415 (2020: £1,113,217), which they are not going to withdraw until the company has sufficient funds to repay without affecting cash flow of the company. This is included within other creditors due within one year.

During the period, Eden Smith Limited made sales amounting to £469,325 (2020: £151,980) to Eden Smith Consulting Limited, a company in which J S Clark and M F Smith are directors.

The amount outstanding at the balance sheet date from Eden Smith Limited is £13,346 (2020: £712,608) which is included within other debtors amounts falling due within one year.

During the period, Eden Smith Consulting Limited made purchases amounting to £1,000 from Eden Smith Group Limited.

During the period, Eden Smith Consulting Limited made purchases amounting to £469,325 from Eden Smith Limited.

The amount outstanding at the balance sheet date to Eden Smith Group Limited is £43,995 (2020: £49,585) which is included within other creditors amounts falling due within one year.

During the period, Eden Smith Consulting Limited made sales amounting to £1,695,423 (2020: £784,563) to Eden Smith Capital Limited. The following directors' of Eden Smith Consulting Limited are J S Clark and M F Smith are also director's of Eden Smith Capital Limited.

The amount outstanding at the balance sheet date from Eden Smith Capital Limited is £1,387,059 (2020: £699,177) which is included within other debtors amounts falling due within one year.

Eden Smith Consulting Limited (Registered number: 09994471)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. POST BALANCE SHEET EVENTS

Since the year end a pandemic outbreak of Covid-19 has continued to have a significant impact on both people and industry across the world. The directors are carefully monitoring the situation and following the applicable guidance issued by the UK Governments. Due to the nature of the outbreak and the ongoing affect it is having around the world it is currently very difficult to predict the overall impact this situation will have on the Company going forward. The directors have exercised judgement in evaluating the impact of Covid-19 on these financial statements.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs C H Black, J S Clark and M F Smith who together hold 100% issued share capital of the company.

12. PARENT COMPANY

The immediate and ultimate parent company is Eden Smith Group Limited, a company incorporated in England and Wales..

13. GOING CONCERN

As at the balance sheet date the company had a net deficiency of assets of £425,357 after a net loss before taxation of £291,208 for the period. The continuation of the Company's activities is dependent on the support of its directors, shareholders and Augusta Funding Limited. The financial statements are therefore drawn up under the historical cost convention and on a going concern.