Company registration number 02881561 (England and Wales)
CARR-LYONS SEARCH & SELECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CARR-LYONS SEARCH & SELECTION LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
CARR-LYONS SEARCH & SELECTION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
1,321
2,641
Investments
4
118
118
1,439
2,759
Current assets
Trade and other receivables
6
121,319
244,369
Cash and cash equivalents
373,911
382,042
495,230
626,411
Current liabilities
7
(171,182)
(250,291)
Net current assets
324,048
376,120
Net assets
325,487
378,879
Equity
Called up share capital
8
141
141
Capital redemption reserve
69
69
Retained earnings
325,277
378,669
Total equity
325,487
378,879

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 December 2024 and are signed on its behalf by:
S Carr
Director
Company registration number 02881561 (England and Wales)
CARR-LYONS SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Carr-Lyons Search & Selection Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, 3 Dorset Rise, London, EC4Y 8EN.

1.1
Accounting convention

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.

The financial statements are prepared in pound sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling.

The financial statements have been prepared under the historical cost convention.

1.2
Revenue

Revenue represents amounts receivable for consultancy services provided, net of VAT. Revenue is recognised as earned when, and to the extent that, the company obtains the rights to consideration under contractual arrangements.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures,fittings and equipment
4 years straight line
Computer equipment
3 years straight line
1.4
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the statement of comprehensive income.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

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.

CARR-LYONS SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax charge represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CARR-LYONS SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.10
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 non-current 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.

1.11
Retirement benefits

The company contributes to the personal pension scheme of certain employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 7 (2023 - 8).

 

3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
7,321
Depreciation and impairment
At 1 April 2023
4,680
Depreciation charged in the year
1,320
At 31 March 2024
6,000
Carrying amount
At 31 March 2024
1,321
At 31 March 2023
2,641
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
118
118
CARR-LYONS SEARCH & SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Carr-Lyons HR Solutions Limited
5th Floor, 3 Dorset Rise, London, EC4Y 8EN
Dormant
Ordinary
100.00

The company is dormant and is expected to remain dormant for the foreseeable future.

 

6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
81,648
168,231
Corporation tax recoverable
8,831
-
0
Other receivables
30,840
76,138
121,319
244,369
7
Current liabilities
2024
2023
£
£
Bank loans and overdrafts
5
-
0
Trade payables
3,702
13,842
Corporation tax
-
0
13,456
Other taxation and social security
46,788
89,146
Other payables
120,687
133,847
171,182
250,291
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
14,062 Ordinary shares of 1p each
141
141
2024-03-312023-04-01falsefalsefalse30 December 2024CCH SoftwareCCH Accounts Production 2024.310No description of principal activityS CarrS HarveyB ChatfieldS Carr028815612023-04-012024-03-31028815612024-03-31028815612023-03-3102881561core:OtherPropertyPlantEquipment2024-03-3102881561core:OtherPropertyPlantEquipment2023-03-3102881561core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3102881561core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102881561core:CurrentFinancialInstruments2024-03-3102881561core:CurrentFinancialInstruments2023-03-3102881561core:ShareCapital2024-03-3102881561core:ShareCapital2023-03-3102881561core:CapitalRedemptionReserve2024-03-3102881561core:CapitalRedemptionReserve2023-03-3102881561core:RetainedEarningsAccumulatedLosses2024-03-3102881561core:RetainedEarningsAccumulatedLosses2023-03-3102881561bus:Director12023-04-012024-03-3102881561core:FurnitureFittings2023-04-012024-03-3102881561core:ComputerEquipment2023-04-012024-03-31028815612022-04-012023-03-3102881561core:OtherPropertyPlantEquipment2023-03-3102881561core:OtherPropertyPlantEquipment2023-04-012024-03-310288156112023-04-012024-03-3102881561core:WithinOneYear2024-03-3102881561core:WithinOneYear2023-03-3102881561bus:OrdinaryShareClass12024-03-3102881561bus:OrdinaryShareClass12023-04-012024-03-3102881561bus:PrivateLimitedCompanyLtd2023-04-012024-03-3102881561bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102881561bus:FRS1022023-04-012024-03-3102881561bus:AuditExemptWithAccountantsReport2023-04-012024-03-3102881561bus:Director22023-04-012024-03-3102881561bus:Director32023-04-012024-03-3102881561bus:CompanySecretary12023-04-012024-03-3102881561bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP