2023
|
2022
|
|
Net fee Income
|
£6.97m
|
£5.60m
|
Gross Profit
|
25%
|
26%
|
Operating Profit
|
12%
|
12%
|
Net fees per consultant
|
£170,000
|
£139,500
|
Average Consultant Headcount
|
41
|
40
|
Director
|
8 August 2024
|
|
||
|
Resigned |
|
|
Appointed |
|
Director
|
|
for and on behalf of
|
|
Chartered Accountants and Registered Auditors
119 Marylebobe Road
London
NW1 5PU
|
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER | 3 |
|
|
|
Cost of sales |
( |
( |
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
OPERATING PROFIT |
|
|
||
Interest payable and similar charges | 8 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 9 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
|
|
||
2023 | 2022 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
|
||
2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 10 |
|
|
||
Investments | 11 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 12 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 13 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 14 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 16 |
|
|
||
Capital redemption reserve |
|
|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 1,529,605 | 1,468,979 | |||
Director
|
|
Share Capital | Capital Redemption | Profit and Loss Account | Total | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 January 2022 |
|
|
|
1,751,768 |
Profit for the year and total comprehensive income | - | - |
|
346,411 |
Dividends paid | - | - | (629,200) | (629,200) |
As at 31 December 2022 and 1 January 2023 |
|
|
|
1,468,979 |
Profit for the year and total comprehensive income | - | - |
|
502,226 |
Dividends paid | - | - | (441,600) | (441,600) |
As at 31 December 2023 |
|
|
|
1,529,605 |
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax (paid)/refunded |
( |
|
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Cash flows from financing activities | ||||
Equity dividends paid |
( |
( |
||
Amount introduced by directors | 25,895 | 135,794 | ||
Net cash used in financing activities |
( |
( |
||
Increase in cash and cash equivalents |
|
|
||
Cash and cash equivalents at beginning of year | 2 |
|
|
|
Cash and cash equivalents at end of year | 2 |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Movements in working capital: | |||
Increase in trade and other debtors |
( |
( |
|
Increase in trade and other creditors |
|
|
|
Depreciation | 58,237 | 42,657 | |
Net cash generated from operations |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
69,579 |
|
Leasehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Contractor fees | 23,665,389 | 20,801,261 | |
Permanent fees | 772,522 | 1,018,171 | |
24,437,911 | 21,819,432 | ||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts | - |
|
|
Other finance charges |
|
|
|
21,878 | 13,112 | ||
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2023 | 2022 | |||
---|---|---|---|---|---|
2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 23.5% | 19.0% |
|
|
|
Deferred Tax | |||||
Changes in tax rates |
( |
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 659,147 | 428,189 | |||
Tax on profit at 23.5% (UK standard rate) |
|
|
|||
Goodwill/depreciation not allowed for tax |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
( |
( |
|||
Short term timing differences |
|
|
|||
Difference in tax rates |
( |
|
|||
Total tax charge for the period | 156,921 | 81,778 | |||
Land & Property | |||||
---|---|---|---|---|---|
Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 January 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
As at 31 December 2023 |
|
|
|
|
|
Depreciation | |||||
As at 1 January 2023 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
As at 31 December 2023 |
|
|
|
|
|
Net Book Value | |||||
As at 31 December 2023 |
|
|
|
|
|
As at 1 January 2023 |
|
|
|
|
|
Subsidiaries | |
---|---|
£ | |
Cost | |
As at 1 January 2023 |
|
As at 31 December 2023 |
|
Provision | |
As at 1 January 2023 |
|
As at 31 December 2023 |
|
Net Book Value | |
As at 31 December 2023 |
|
As at 1 January 2023 |
|
Name of undertakings
|
Registered office
|
Nature of business
|
Class of shares held
|
% Held Direct
|
Montash Nederland B.V
|
Netherlands
|
Recruitment
|
Ordinary
|
100
|
Montash GmbH
|
Germany
|
Recruitment
|
Ordinary
|
100
|
Name of undertakings
|
Capital and Reserves
|
Profit/(Loss)
|
|
£
|
£
|
||
Montash Nederland B.V
|
502,570
|
140,239
|
Montash GmbH
|
110,896
|
9,582
|
|
|
|
||
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Prepayments and accrued income |
|
|
|
Other debtors |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Trade creditors |
|
|
|
Other creditors | 2,146,613 | 1,806,482 | |
Corporation tax |
|
|
|
Taxation and social security | 273,145 | 178,092 | |
Accruals and deferred income |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 12,391 | 20,868 | |
Deferred Tax | Total | |
---|---|---|
£ | £ | |
As at 1 January 2023 |
|
20,868 |
Reversals |
( |
(8,477) |
Balance at 31 December 2023 |
|
12,391 |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|
441,600 | 629,200 | ||
Number of share option
|
Exercise Price
|
|||
2023
Number
|
2022
Number
|
2023
£
|
2022
£
|
|
Outstanding at 1 January
|
1,933
|
-
|
-
|
-
|
Granted
|
168
|
1,964
|
-
|
-
|
Lapsed
|
(452)
|
(31)
|
-
|
-
|
1,649
|
1,933
|
-
|
-
|
|
Exercisable at 31 December
|
1,649
|
-
|
-
|
-
|