Registered number
03568521
Bailey Fisher Executive Search Limited
Filleted Accounts
31 March 2023
Bailey Fisher Executive Search Limited
Registered number: 03568521
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 10,508 3,826
Current assets
Debtors 5 1,174,184 985,359
Cash at bank and in hand 91,629 93,131
1,265,813 1,078,490
Creditors: amounts falling due within one year 6 (192,120) (220,736)
Net current assets 1,073,693 857,754
Total assets less current liabilities 1,084,201 861,580
Creditors: amounts falling due after more than one year 7 (25,780) (35,649)
Provisions for liabilities (1,996) (727)
Net assets 1,056,425 825,204
Capital and reserves
Called up share capital 1,800 1,800
Profit and loss account 1,054,625 823,404
Shareholders' funds 1,056,425 825,204
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A J Moore
Director
Approved by the board on 3 November 2023
Bailey Fisher Executive Search Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised when the company obtains the right to consideration. Sales invoiced in advance are recognised as deferred income and sales invoiced in arrears recognised as accrued income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Furniture & Fittings over 5 years
Government Grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to either revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset.
Financial instruments
All of the company's financial instruments are considered to be basic. Basic financial instruments are recognised at amortised cost.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.

A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

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.

Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Taxation 2023 2022
£ £
Current UK corporation tax 51,066 62,862
Adjustment to prior periods - -
Deferred Tax 1,269 (172)
52,335 62,690
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 9,888
Additions 10,876
At 31 March 2023 20,764
Depreciation
At 1 April 2022 6,062
Charge for the year 4,194
At 31 March 2023 10,256
Net book value
At 31 March 2023 10,508
At 31 March 2022 3,826
5 Debtors 2023 2022
£ £
Trade debtors 216,900 135,600
Amounts owed by group undertakings and undertakings in which the company has a participating interest 947,712 793,742
Other debtors 9,572 56,017
1,174,184 985,359
Amounts due after more than one year included above 947,712 793,742
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,869 9,626
Trade creditors 4,508 4,058
Taxation and social security costs 150,618 155,520
Other creditors 27,125 51,532
192,120 220,736
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,780 35,649
8 Contingent liabilities
The company has entered into a cross guarantee with Bailey Fisher Holdings Ltd. No liability is expected to arise in respect of this guarantee.
9 Controlling party
The ultimate parent company is Bailey Fisher Holdings Limited, whose registered office is at The Crome Lea Business Park, Madingley Road, Cotot, Cambridge, CB23 7PH.
10 Other information
Bailey Fisher Executive Search Limited is a private company limited by shares and incorporated in England. Its registered office is:
Crome Lea Business Park
Madingley Road
Coton
Cambridge
CB23 7PH
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