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Registered Number: 02259796
England and Wales

 

 

 

SUCCESS APPOINTMENTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Success Appointments Limited for the year ended 31st August 2023.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Success Appointments Limited for the year ended 31st August 2023. which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.


As a practicing member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.


This report is made solely to the Board of Directors of Success Appointments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Success Appointments Limited and state those matters that we have agreed to state to the Board of Directors of Success Appointments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Success Appointments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Success Appointments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Success Appointments Limited. You consider that Success Appointments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Success Appointments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


Spot On Chartered Accountants
Office 1.42, 1st Floor
Building 2
Croxley Business Park
Watford
WD18 8YA
17 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 20,629    20,987 
20,629    20,987 
Current assets      
Debtors 148,622    170,307 
Cash at bank and in hand 493,440    512,693 
642,062    683,000 
Creditors: amount falling due within one year (68,063)   (163,861)
Net current assets 573,999    519,139 
 
Total assets less current liabilities 594,628    540,126 
Creditors: amount falling due after more than one year (28,908)   (38,899)
Net assets 565,720    501,227 
 

Capital and reserves
     
Called up share capital 4 50,002    50,002 
Share premium account 328,402    328,402 
Profit and loss account 187,316    122,823 
Shareholder's funds 565,720    501,227 
 



For the period ended on 31st August 2023, the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.


Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 17 October 2023 and were signed on its behalf by:


-------------------------------
Deepak Saluja
Director
2
General Information
Success Appointments Limited is a private company, limited by shares, registered in England and Wales, registration number 02259796, registration address Office 1.10, 1st Floor, Building 2, Croxley Business Park , Watford, WD18 8YA
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. Monetary amounts in these financial statements are rounded to the nearest sterling.
The financial statements are prepared in sterling which is the functional currency of the company. The principal accounting policies adopted are set out below.

Going concern basis
The directors believe that the company is experiencing good levels of revenue growth and profitability, and that it is well-placed to manage its business risks successfully. Accordingly, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements. 
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Turnover arising from the placement of permanent candidates is recognised at the time the candidate commences full time employment.
Turnover arising from temporary placements is recongised over the period that temporary workers are provided where the company is acting as a principal.  
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.


The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed asset at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:


Plant and Machinery 15 Reducing Balance
Computer Equipment 15 Reducing Balance
Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's service is received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of any employee's or to provide termination benefits.
Equity instrument
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.
2.

Average number of employees

Average number of employees during the year was 35 (2022 : 50).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 September 2022 241,680    5,540    247,220 
Additions   3,055    3,055 
Disposals    
At 31 August 2023 241,680    8,595    250,275 
Depreciation
At 01 September 2022 225,658    575    226,233 
Charge for year 2,404    1,009    3,413 
On disposals    
At 31 August 2023 228,062    1,584    229,646 
Net book values
Closing balance as at 31 August 2023 13,618    7,011    20,629 
Opening balance as at 01 September 2022 16,022    4,965    20,987 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
50,000 Ordinary shares of £1.00 each 50,000    50,000 
1 Class A share of £1.00 each  
1 Class B share of £1.00 each  
50,002    50,002 

3