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REGISTERED NUMBER: 02946716 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

FOR

NINE TO FIVE (SUSSEX) LIMITED

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NINE TO FIVE (SUSSEX) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M S Gibby
Mr D A Gibby





REGISTERED OFFICE: 33 Station Road
Bexhill on Sea
East Sussex
TN40 1RG





REGISTERED NUMBER: 02946716 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 36,247 37,018
Investments 7 151,752 151,752
Investment property 8 1,950,000 1,545,600
2,137,999 1,734,370

CURRENT ASSETS
Debtors 9 32,649 26,648
Cash at bank and in hand 16,905 14,441
49,554 41,089
CREDITORS
Amounts falling due within one year 10 367,268 342,373
NET CURRENT LIABILITIES (317,714 ) (301,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,820,285

1,433,086

CREDITORS
Amounts falling due after more than
one year

11

(476,914

)

(502,437

)

PROVISIONS FOR LIABILITIES 13 (292,416 ) (185,882 )
NET ASSETS 1,050,955 744,767

CAPITAL AND RESERVES
Called up share capital 14 10,710 10,710
Other reserves 1,065,548 762,248
Retained earnings (25,303 ) (28,191 )
SHAREHOLDERS' FUNDS 1,050,955 744,767

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by:





Mr M S Gibby - Director


NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Nine to Five (Sussex) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the invoiced amounts for agency staff supplied to customers in the normal course of business. It is stated exclusive of value added tax and sales of fixed assets.

Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - straight line basis over 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 20% on cost

All fixed assets are initially recorded at cost.

Government grants
The entity has adopted the use of the accruals model in respect of grants received.

Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in ‘Other income’, in the period to which it relates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at the valuation at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 37,242
AMORTISATION
At 1 April 2022
and 31 March 2023 37,242
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 53,013 3,165 5,880 4,244 66,302
Disposals - - - (1,539 ) (1,539 )
At 31 March 2023 53,013 3,165 5,880 2,705 64,763
DEPRECIATION
At 1 April 2022 16,562 3,139 5,339 4,244 29,284
Charge for year 629 7 135 - 771
Eliminated on disposal - - - (1,539 ) (1,539 )
At 31 March 2023 17,191 3,146 5,474 2,705 28,516
NET BOOK VALUE
At 31 March 2023 35,822 19 406 - 36,247
At 31 March 2022 36,451 26 541 - 37,018

7. FIXED ASSET INVESTMENTS
Share in
group
undertakin
£   
COST
At 1 April 2022
and 31 March 2023 151,752
NET BOOK VALUE
At 31 March 2023 151,752
At 31 March 2022 151,752

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,545,600
Revaluations 404,400
At 31 March 2023 1,950,000
NET BOOK VALUE
At 31 March 2023 1,950,000
At 31 March 2022 1,545,600


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,328 20,579
Prepayments and accrued income 7,321 6,069
32,649 26,648

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,524 23,849
Trade creditors 3,066 5,958
Amounts owed to group undertakings 56,852 29,510
Corporation tax 256 256
PAYE and social security 3,158 4,927
VAT 46,682 41,932
Other creditors 86,538 82,280
Wages control account - 4,845
Directors' current accounts 132,022 138,647
Accruals and deferred income 13,170 10,169
367,268 342,373

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (1 - 5 years) 83,019 102,588
Bank loans over 5 years 93,895 99,849
Directors' loan accounts 300,000 300,000
476,914 502,437

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 93,895 99,849

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 166,195 182,781

The bank loans are secured by charges on the investment properties. There are also fixed and floating charges over the other assets and undertakings of the company.

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances (177 ) (204 )
Tax losses carried forward (3,227 ) (8,634 )
Investment property revaluation 295,820 194,720
292,416 185,882

Deferred
tax
£   
Balance at 1 April 2022 185,882
Provided during year 106,534
Balance at 31 March 2023 292,416

NINE TO FIVE (SUSSEX) LIMITED (REGISTERED NUMBER: 02946716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary A £1 10,000 10,000
10 Ordinary B £1 10 10
500 Ordinary C £1 500 500
200 Ordinary D £1 200 200
10,710 10,710