2022-09-012023-08-312023-08-31false12135169SEARCHWORKS 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SEARCHWORKS LTD

Registered Number
12135169
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

SEARCHWORKS LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

GREENWELL, Samuel
QUILL, Alex

Registered Address

42-46 Princelet St
London
E1 5LP

Registered Number

12135169 (England and Wales)
SEARCHWORKS LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets64,8294,771
4,8294,771
Current assets
Debtors8295,386277,942
Cash at bank and on hand249,063456,097
544,449734,039
Creditors amounts falling due within one year9(322,277)(332,615)
Net current assets (liabilities)222,172401,424
Total assets less current liabilities227,001406,195
Provisions for liabilities10(918)(907)
Net assets226,083405,288
Capital and reserves
Called up share capital22
Profit and loss account226,081405,286
Shareholders' funds226,083405,288
The financial statements were approved and authorised for issue by the Board of Directors on 4 November 2023, and are signed on its behalf by:
GREENWELL, Samuel
Director
QUILL, Alex
Director

Registered Company No. 12135169
SEARCHWORKS LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the company is that of recruitment services.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
The company utilised Employers National Insurance Allowance during the year.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year1611
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 September 226,9496,949
Additions2,1202,120
At 31 August 239,0699,069
Depreciation and impairment
At 01 September 222,1782,178
Charge for year2,0622,062
At 31 August 234,2404,240
Net book value
At 31 August 234,8294,829
At 31 August 224,7714,771
7.Description of financial commitments other than capital commitments
The company has lease commitments of £49,200 net for office rental within 12 months of the accounts year end.
8.Debtors

2023

2022

££
Trade debtors / trade receivables223,758264,480
Other debtors360-
Prepayments and accrued income71,26813,462
Total295,386277,942
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables119,06442,372
Taxation and social security153,956287,683
Accrued liabilities and deferred income49,2572,560
Total322,277332,615
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities
Provisions for liabilities include deferred tax.

2023

2022

££
Net deferred tax liability (asset)918907
Total918907