630 561 High Society UK Limited 05337028 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is to operate as a specialist recruitment agency for the catering industry. Digita Accounts Production Advanced 6.30.9574.0 true 05337028 2024-01-01 2024-12-31 05337028 2024-12-31 05337028 bus:OrdinaryShareClass1 2024-12-31 05337028 core:RetainedEarningsAccumulatedLosses 2024-12-31 05337028 core:ShareCapital 2024-12-31 05337028 core:CurrentFinancialInstruments 2024-12-31 05337028 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05337028 core:Non-currentFinancialInstruments 2024-12-31 05337028 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 05337028 core:Goodwill 2024-12-31 05337028 core:FurnitureFittings 2024-12-31 05337028 core:OtherPropertyPlantEquipment 2024-12-31 05337028 core:PreviouslyStatedAmount 2024-12-31 05337028 bus:SmallEntities 2024-01-01 2024-12-31 05337028 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05337028 bus:FilletedAccounts 2024-01-01 2024-12-31 05337028 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05337028 bus:RegisteredOffice 2024-01-01 2024-12-31 05337028 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 05337028 bus:Director2 2024-01-01 2024-12-31 05337028 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05337028 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05337028 bus:Agent1 2024-01-01 2024-12-31 05337028 core:Goodwill 2024-01-01 2024-12-31 05337028 core:NetGoodwill 2024-01-01 2024-12-31 05337028 core:FurnitureFittings 2024-01-01 2024-12-31 05337028 core:OfficeEquipment 2024-01-01 2024-12-31 05337028 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05337028 core:PlantMachinery 2024-01-01 2024-12-31 05337028 core:OtherRelatedParties 2024-01-01 2024-12-31 05337028 core:PreviouslyStatedAmount 2024-01-01 2024-12-31 05337028 countries:AllCountries 2024-01-01 2024-12-31 05337028 2023-12-31 05337028 core:Goodwill 2023-12-31 05337028 core:FurnitureFittings 2023-12-31 05337028 core:OtherPropertyPlantEquipment 2023-12-31 05337028 core:PreviouslyStatedAmount 2023-12-31 05337028 2023-01-01 2023-12-31 05337028 2023-12-31 05337028 bus:OrdinaryShareClass1 2023-12-31 05337028 core:RetainedEarningsAccumulatedLosses 2023-12-31 05337028 core:ShareCapital 2023-12-31 05337028 core:CurrentFinancialInstruments 2023-12-31 05337028 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05337028 core:Non-currentFinancialInstruments 2023-12-31 05337028 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05337028 core:FurnitureFittings 2023-12-31 05337028 core:OtherPropertyPlantEquipment 2023-12-31 05337028 core:PreviouslyStatedAmount 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05337028

High Society UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

High Society UK Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

High Society UK Limited

Company Information

Directors

Mrs K E D O'Loghlen

Mr F O'Loghlen

Company secretary

Mrs K E D O'Loghlen

Registered office

Unit 4A
Hillgate Place
London
SW12 9ER

Accountants

Michaelides Warner & Co 102 Fulham Palace Road
London
W6 9PL

 

High Society UK Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

High Society UK Limited

(Registration number: 05337028)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

9,334

11,974

Current assets

 

Debtors

6

940,091

939,622

Cash at bank and in hand

 

196,439

75,967

 

1,136,530

1,015,589

Creditors: Amounts falling due within one year

7

(969,187)

(892,550)

Net current assets

 

167,343

123,039

Total assets less current liabilities

 

176,677

135,013

Creditors: Amounts falling due after more than one year

7

(5,909)

(17,727)

Net assets

 

170,768

117,286

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

170,766

117,284

Shareholders' funds

 

170,768

117,286

For the financial year ending 31 December 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.


Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 

.........................................

Mr F O'Loghlen
Director

 

High Society UK Limited

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

1

General information

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

The address of its registered office is:
Unit 4A
Hillgate Place
London
SW12 9ER
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.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 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.

 

High Society UK Limited

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

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

Plant & machinery

Straight line basis at 33.3%

Fixtures & fittings

Straight line basis at 33.3%

Office equipment

Straight line basis at 33.3%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Amortised over 10 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.

 

High Society UK Limited

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

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.

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.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables,cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

 

High Society UK Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 630 (2023 - 561).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

250,000

250,000

At 31 December 2024

250,000

250,000

Amortisation

At 1 January 2024

250,000

250,000

At 31 December 2024

250,000

250,000

Carrying amount

At 31 December 2024

-

-

 

High Society UK Limited

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

5

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

65,140

12,726

77,866

Additions

4,123

-

4,123

At 31 December 2024

69,263

12,726

81,989

Depreciation

At 1 January 2024

53,899

11,993

65,892

Charge for the year

6,365

398

6,763

At 31 December 2024

60,264

12,391

72,655

Carrying amount

At 31 December 2024

8,999

335

9,334

At 31 December 2023

11,241

733

11,974

6

Debtors

2024
£

2023
£

Trade debtors

929,373

927,332

Other debtors

4,479

4,848

Prepayments

6,239

7,442

940,091

939,622

 

High Society UK Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

178,280

252,772

Trade creditors

 

3,982

4,890

Taxation and social security

 

386,374

327,817

Accruals and deferred income

 

2,405

2,400

Other creditors

 

398,146

304,671

 

969,187

892,550

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,909

17,727

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,909

17,727

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,818

11,818

Other borrowings

166,462

240,954

178,280

252,772

 

High Society UK Limited

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

10

Related party transactions

Summary of transactions with other related parties

Included within other debtors is an amount owed to (by) the Directors of £1,846 (2023: £4,193).