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Company No: 06926219 (England and Wales)

MOMENTUM EXECUTIVE SOLUTIONS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

MOMENTUM EXECUTIVE SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

MOMENTUM EXECUTIVE SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
MOMENTUM EXECUTIVE SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 87,104 6,389
87,104 6,389
Current assets
Debtors 4 143,485 143,914
Cash at bank and in hand 55,668 70,642
199,153 214,556
Creditors: amounts falling due within one year 5 ( 49,393) ( 68,575)
Net current assets 149,760 145,981
Total assets less current liabilities 236,864 152,370
Creditors: amounts falling due after more than one year 6 ( 71,709) ( 14,806)
Provision for liabilities ( 21,350) ( 1,563)
Net assets 143,805 136,001
Capital and reserves
Called-up share capital 7 2 2
Capital redemption reserve 2 2
Profit and loss account 143,801 135,997
Total shareholder's funds 143,805 136,001

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Momentum Executive Solutions Ltd (registered number: 06926219) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

Julian Alexander Farmer
Director
MOMENTUM EXECUTIVE SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
MOMENTUM EXECUTIVE SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Momentum Executive Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1-3 College Yard, Worcester, WR1 2LB, United Kingdom. The principal place of business is 22 Tower Road, Peatmoor, Swindon, Wiltshire, SN5 5BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 January 2024 0 10,532 10,532
Additions 101,747 0 101,747
Disposals 0 ( 3,724) ( 3,724)
At 31 December 2024 101,747 6,808 108,555
Accumulated depreciation
At 01 January 2024 0 4,143 4,143
Charge for the financial year 17,733 1,702 19,435
Disposals 0 ( 2,127) ( 2,127)
At 31 December 2024 17,733 3,718 21,451
Net book value
At 31 December 2024 84,014 3,090 87,104
At 31 December 2023 0 6,389 6,389

4. Debtors

2024 2023
£ £
Trade debtors 33,375 49,724
Amounts owed by Group undertakings 92,312 92,312
Amounts owed by directors 15,922 0
Prepayments 1,876 1,878
143,485 143,914

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,397 10,140
Trade creditors 1,262 0
Amounts owed to directors 148 148
Accruals 610 15,000
Taxation and social security 21,504 41,758
Obligations under finance leases and hire purchase contracts (secured) 13,759 0
Other creditors 1,713 1,529
49,393 68,575

The hire purchase liabilities have been secured against the vehicles to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,409 14,806
Obligations under finance leases and hire purchase contracts (secured) 67,300 0
71,709 14,806

The hire purchase liabilities have been secured against the vehicles to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 148 148
Amounts owed by directors 15,922 0

Interest is charged on the loan to the directors at 2.25% and is repayable on demand. During the year dividends were paid to shareholders totalling £97,661 (2023: £77,479).