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15 December 2023
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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
11922698
2022-04-01
2023-03-31
11922698
2023-03-31
11922698
2022-03-31
11922698
2021-04-01
2022-03-31
11922698
2022-03-31
11922698
bus:Director1
2022-04-01
2023-03-31
11922698
core:WithinOneYear
2023-03-31
11922698
core:WithinOneYear
2022-03-31
11922698
core:ShareCapital
2023-03-31
11922698
core:ShareCapital
2022-03-31
11922698
core:RetainedEarningsAccumulatedLosses
2023-03-31
11922698
core:RetainedEarningsAccumulatedLosses
2022-03-31
11922698
bus:SmallEntities
2022-04-01
2023-03-31
11922698
bus:Audited
2022-04-01
2023-03-31
11922698
bus:AbridgedAccounts
2022-04-01
2023-03-31
11922698
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
11922698
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
11922698
core:ComputerEquipment
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
11922698
The Chapman Consulting Group Ltd |
|
Filleted Abridged Financial Statements |
|
The Chapman Consulting Group Ltd |
|
Abridged Statement of Financial Position |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
|
739 |
2,382 |
|
|
|
|
|
Current assets
Debtors |
3,907,543 |
|
3,326,870 |
Investments |
6 |
18,783 |
|
– |
Cash at bank and in hand |
258,076 |
|
371,127 |
|
------------ |
|
------------ |
|
4,184,402 |
|
3,697,997 |
|
|
|
|
|
Creditors: amounts falling due within one year |
2,728,194 |
|
2,586,274 |
|
------------ |
|
------------ |
Net current assets |
|
1,456,208 |
1,111,723 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,456,947 |
1,114,105 |
|
|
------------ |
------------ |
Net assets |
|
1,456,947 |
1,114,105 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
1,456,946 |
1,114,104 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,456,947 |
1,114,105 |
|
|
------------ |
------------ |
|
|
|
|
These abridged 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
The Chapman Consulting Group Ltd |
|
Abridged Statement of Financial Position (continued) |
|
31 March 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
15 December 2023
, and are signed on behalf of the board by:
Company registration number:
11922698
The Chapman Consulting Group Ltd |
|
Notes to the Abridged Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company (registered number
11922698
) is a private company limited by shares, registered in England and Wales. The address of the registered office is C/- Sable Accounting Ltd, 13th Floor, One Croydon, 12-16 Addiscombe Road, Croydon, CR0 0XT, England. The company does not have a principal place of trade.
2.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis on the understanding that the company will continue trading for a period of at least 12 months from the date of approval of these financial statements. The directors have considered the impact of COVID-19 in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered relating to employment placement agencies, stated net of discounts and of Value Added Tax. Revenue is recognised on the satisfaction of separate performance obligations specified in the contracts held with customers. Such performance obligations include completion of retained searches, completion of interviews and offers acceptance by the candidates. The company's share is recognised at this time based on the staff that helped place the candidate.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Computer and software |
- |
100% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured using the effective interest rate method. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Employee benefits
The costs 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 services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2022:
11
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 April 2022 |
10,330 |
Additions |
1,874 |
|
-------- |
At 31 March 2023 |
12,204 |
|
-------- |
Depreciation |
|
At 1 April 2022 |
7,948 |
Charge for the year |
3,517 |
|
-------- |
At 31 March 2023 |
11,465 |
|
-------- |
Carrying amount |
|
At 31 March 2023 |
739 |
|
-------- |
At 31 March 2022 |
2,382 |
|
-------- |
|
|
6.
Investments
|
2023 |
2022 |
|
£ |
£ |
Investments |
18,783 |
– |
|
-------- |
---- |
|
|
|
7.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
1,548 |
1,548 |
|
------- |
------- |
|
|
|
8.
Summary audit opinion
The auditor's report for the year dated
15 December 2023
was
unqualified
.
The senior statutory auditor was
Mark Rogers
, for and on behalf of
HJS (Reading) Limited
.
9.
Related party transactions
The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group. Group balances have been detailed in notes 6 and 7. These balance are not interest bearing and are repayable on demand.
10.
Controlling party
The company’s immediate parent company is The Chapman Consulting Group Pte. Ltd based in Singapore. Their registered office is Twenty Anson, 20 Anson Road #10-01, Singapore 79912. This is the smallest group to prepare consolidated financial statements. The company’s ultimate parent company is Will Group Inc. based in Japan. Their registered is 27F, Harmony Tower, 1-32-2, Hon-Cho, NAKANO-KU, Japan. This is the largest group to prepare consolidated financial statements.