Affinity Search Limited 05064954 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of recruitment services in the specialised field of the industrial control and process automation industry Digita Accounts Production Advanced 6.30.9574.0 true 05064954 2023-04-01 2024-03-31 05064954 2024-03-31 05064954 bus:Director1 1 2024-03-31 05064954 bus:Director2 1 2024-03-31 05064954 core:RetainedEarningsAccumulatedLosses 2024-03-31 05064954 core:ShareCapital 2024-03-31 05064954 core:CurrentFinancialInstruments 2024-03-31 05064954 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05064954 core:Non-currentFinancialInstruments 2024-03-31 05064954 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05064954 core:FurnitureFittingsToolsEquipment 2024-03-31 05064954 core:MotorVehicles 2024-03-31 05064954 bus:SmallEntities 2023-04-01 2024-03-31 05064954 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05064954 bus:FullAccounts 2023-04-01 2024-03-31 05064954 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05064954 bus:RegisteredOffice 2023-04-01 2024-03-31 05064954 bus:Director1 2023-04-01 2024-03-31 05064954 bus:Director1 1 2023-04-01 2024-03-31 05064954 bus:Director2 2023-04-01 2024-03-31 05064954 bus:Director2 1 2023-04-01 2024-03-31 05064954 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05064954 bus:Agent1 2023-04-01 2024-03-31 05064954 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05064954 core:MotorVehicles 2023-04-01 2024-03-31 05064954 countries:EnglandWales 2023-04-01 2024-03-31 05064954 2023-03-31 05064954 bus:Director1 1 2023-03-31 05064954 bus:Director2 1 2023-03-31 05064954 core:FurnitureFittingsToolsEquipment 2023-03-31 05064954 core:MotorVehicles 2023-03-31 05064954 2022-04-01 2023-03-31 05064954 2023-03-31 05064954 bus:Director1 1 2023-03-31 05064954 bus:Director2 1 2023-03-31 05064954 core:RetainedEarningsAccumulatedLosses 2023-03-31 05064954 core:ShareCapital 2023-03-31 05064954 core:CurrentFinancialInstruments 2023-03-31 05064954 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05064954 core:Non-currentFinancialInstruments 2023-03-31 05064954 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05064954 core:FurnitureFittingsToolsEquipment 2023-03-31 05064954 core:MotorVehicles 2023-03-31 05064954 bus:Director1 1 2022-04-01 2023-03-31 05064954 bus:Director2 1 2022-04-01 2023-03-31 05064954 bus:Director1 1 2022-03-31 05064954 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05064954

Affinity Search Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Affinity Search Limited
(Registration number: 05064954)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Affinity Search Limited
(Registration number: 05064954)

Company Information

Directors

Mr J R Salt

Mrs G C Salt

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Bankers

Barclays Bank Plc

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Affinity Search Limited
(Registration number: 05064954)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,818

26,509

Current assets

 

Debtors

5

90,407

85,236

Cash at bank and in hand

 

11,675

58,390

 

102,082

143,626

Creditors: Amounts falling due within one year

6

(44,150)

(54,886)

Net current assets

 

57,932

88,740

Total assets less current liabilities

 

75,750

115,249

Creditors: Amounts falling due after more than one year

6

(7,000)

(13,000)

Provisions for liabilities

(4,455)

(5,037)

Net assets

 

64,295

97,212

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

63,295

96,212

Total equity

 

64,295

97,212

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

 

Affinity Search Limited
(Registration number: 05064954)

Balance Sheet as at 31 March 2024

.........................................
Mr J R Salt
Director

 

Affinity Search Limited
(Registration number: 05064954)

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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 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 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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Affinity Search Limited
(Registration number: 05064954)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Fixtures and equipment

25%/33% reducing balance basis

Motor vehicles

20% straight line basis

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.

 

Affinity Search Limited
(Registration number: 05064954)

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Affinity Search Limited
(Registration number: 05064954)

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

39,455

40,995

80,450

Additions

208

-

208

At 31 March 2024

39,663

40,995

80,658

Depreciation

At 1 April 2023

37,543

16,398

53,941

Charge for the year

700

8,199

8,899

At 31 March 2024

38,243

24,597

62,840

Carrying amount

At 31 March 2024

1,420

16,398

17,818

At 31 March 2023

1,912

24,597

26,509

5

Debtors

2024
£

2023
£

Other debtors

90,262

85,062

Prepayments and accrued income

145

174

Total current trade and other debtors

90,407

85,236

 

Affinity Search Limited
(Registration number: 05064954)

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

6,000

6,000

Taxation and social security

 

33,176

43,886

Accrued expenses

 

4,974

5,000

 

44,150

54,886

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

7,000

13,000

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,000

6,000

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

7,000

13,000

 

Affinity Search Limited
(Registration number: 05064954)

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

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr J R Salt

Interest free loan repayable on demand

24,535

27,656

(25,055)

27,136

         
       

Mrs G C Salt

Interest free loan repayable on demand

24,535

27,656

(25,055)

27,136

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr J R Salt

Interest free loan repayable on demand

12,145

28,342

(15,952)

24,535

         
       

Mrs G C Salt

Interest free loan repayable on demand

12,145

28,342

(15,952)

24,535