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Registration number: 07514953

Career Directed Solutions Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Career Directed Solutions Limited

Contents

Company Information

1

Directors' Report

2

Statement of Comprehensive Income

3

Abridged Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Abridged Financial Statements

6 to 9

 

Career Directed Solutions Limited

Company Information

Directors

Mr Stephen Richard Thompson-Martyn

Mrs Donna Maria Thompson-Martyn

Company secretary

Mrs Donna Maria Thompson-Martyn

Registered office

Stedon House
1 Kingston Square
Bradford-On-Avon
Wiltshire
BA15 1FH

Accountants

Winsor Associates
20 Vespasian Way
Dorchester
Dorset
DT1 2RD

 

Career Directed Solutions Limited

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the abridged financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Stephen Richard Thompson-Martyn

Mrs Donna Maria Thompson-Martyn - Company secretary and director

Principal activity

The principal activity of the company is delivering specialist Outplacement Services, Career Management, Change Consulting, Coaching and Mentoring

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 27 December 2024 and signed on its behalf by:
 

.........................................
Mr Stephen Richard Thompson-Martyn
Director

 

Career Directed Solutions Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

152,550

193,033

Total comprehensive income for the year

152,550

193,033

 

Career Directed Solutions Limited

(Registration number: 07514953)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,860

10,296

Current assets

 

Debtors

6

185,856

227,845

Cash at bank and in hand

 

187,065

182,024

 

372,921

409,869

Prepayments and accrued income

 

7,214

6,731

Creditors: Amounts falling due within one year

(128,124)

(89,991)

Net current assets

 

252,011

326,609

Total assets less current liabilities

 

255,871

336,905

Accruals and deferred income

 

(7,071)

(5,655)

Net assets

 

248,800

331,250

Capital and reserves

 

Called up share capital

7

64

64

Retained earnings

248,736

331,186

Shareholders' funds

 

248,800

331,250

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 27 December 2024 and signed on its behalf by:
 

.........................................
Mr Stephen Richard Thompson-Martyn
Director

 

Career Directed Solutions Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

64

331,186

331,250

Profit for the year

-

152,550

152,550

Dividends

-

(235,000)

(235,000)

At 31 March 2024

64

248,736

248,800

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

64

376,903

376,967

Profit for the year

-

193,033

193,033

Dividends

-

(238,750)

(238,750)

At 31 March 2023

64

331,186

331,250

 

Career Directed Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stedon House
1 Kingston Square
Bradford-On-Avon
Wiltshire
BA15 1FH

These financial statements were authorised for issue by the Board on 27 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Career Directed Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Remote office

Straight line 5 years

Furniture, fixtures, computers and office equipment

Straight line 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Career Directed Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,436

5,149

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

25,743

25,743

At 31 March 2024

25,743

25,743

Depreciation

At 1 April 2023

15,447

15,447

Charge for the year

6,436

6,436

At 31 March 2024

21,883

21,883

Carrying amount

At 31 March 2024

3,860

3,860

At 31 March 2023

10,296

10,296

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Career Directed Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary "A" of £1 each

38

38

38

38

Ordinary "C" of £1 each

26

26

26

26

Ordinary "D" of £1 each

-

-

-

-

64

64

64

64

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £3,671.88 (2023 - £3,730.47) per each Ordinary "A"

139,531

141,758

Final dividend of £Nil per each Ordinary "D"

-

-

Final dividend of £3,671.88 (2023 - £3,730.47) per each Ordinary "C"

95,469

96,992

235,000

238,750

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

48,195

43,375

Contributions paid to money purchase schemes

51,500

24,800

99,695

68,175