REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2021 |
for |
Eden Smith Consulting Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |