Marsden International Legal Search Limited 05173876 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is legal recruitment Digita Accounts Production Advanced 6.30.9574.0 false false true 05173876 2023-07-01 2024-06-30 05173876 2024-06-30 05173876 bus:OrdinaryShareClass1 2024-06-30 05173876 core:CurrentFinancialInstruments 2024-06-30 05173876 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05173876 core:BetweenTwoFiveYears 2024-06-30 05173876 core:WithinOneYear 2024-06-30 05173876 core:FurnitureFittingsToolsEquipment 2024-06-30 05173876 core:AllSubsidiaries 2024-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-06-30 05173876 core:ParentEntities 2024-06-30 05173876 bus:SmallEntities 2023-07-01 2024-06-30 05173876 bus:Audited 2023-07-01 2024-06-30 05173876 bus:FilletedAccounts 2023-07-01 2024-06-30 05173876 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05173876 bus:RegisteredOffice 2023-07-01 2024-06-30 05173876 bus:CompanySecretaryDirector2 2023-07-01 2024-06-30 05173876 bus:Director1 2023-07-01 2024-06-30 05173876 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 05173876 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05173876 core:FurnitureFittings 2023-07-01 2024-06-30 05173876 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 05173876 core:AllSubsidiaries 2023-07-01 2024-06-30 05173876 core:AllSubsidiaries core:RenderingOrReceivingServices 2023-07-01 2024-06-30 05173876 core:AllSubsidiaries core:TransfersUnderFinanceArrangements 2023-07-01 2024-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-07-01 2024-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2023-07-01 2024-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:TransfersUnderFinanceArrangements 2023-07-01 2024-06-30 05173876 core:ParentEntities 2023-07-01 2024-06-30 05173876 core:ParentEntities core:RenderingOrReceivingServices 2023-07-01 2024-06-30 05173876 core:ParentEntities core:TransfersUnderFinanceArrangements 2023-07-01 2024-06-30 05173876 1 2023-07-01 2024-06-30 05173876 countries:EnglandWales 2023-07-01 2024-06-30 05173876 2023-06-30 05173876 core:CostValuation 2023-06-30 05173876 core:FurnitureFittingsToolsEquipment 2023-06-30 05173876 core:AllSubsidiaries 2023-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-06-30 05173876 core:ParentEntities 2023-06-30 05173876 2022-07-01 2023-06-30 05173876 2023-06-30 05173876 bus:OrdinaryShareClass1 2023-06-30 05173876 core:CurrentFinancialInstruments 2023-06-30 05173876 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05173876 core:BetweenTwoFiveYears 2023-06-30 05173876 core:WithinOneYear 2023-06-30 05173876 core:FurnitureFittingsToolsEquipment 2023-06-30 05173876 core:AllSubsidiaries 2023-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-06-30 05173876 core:ParentEntities 2023-06-30 05173876 core:AllSubsidiaries 2022-07-01 2023-06-30 05173876 core:AllSubsidiaries core:RenderingOrReceivingServices 2022-07-01 2023-06-30 05173876 core:AllSubsidiaries core:TransfersUnderFinanceArrangements 2022-07-01 2023-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-07-01 2023-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-07-01 2023-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:TransfersUnderFinanceArrangements 2022-07-01 2023-06-30 05173876 core:ParentEntities 2022-07-01 2023-06-30 05173876 core:ParentEntities core:RenderingOrReceivingServices 2022-07-01 2023-06-30 05173876 core:ParentEntities core:TransfersUnderFinanceArrangements 2022-07-01 2023-06-30 05173876 2022-06-30 05173876 core:AllSubsidiaries 2022-06-30 05173876 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-06-30 05173876 core:ParentEntities 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05173876

Marsden International Legal Search Limited

Filleted Financial Statements

for the Year Ended 30 June 2024

 

Marsden International Legal Search Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 12

 

Marsden International Legal Search Limited

Company Information

Directors

J D Marsden

D Wilkins

Company secretary

D Wilkins

Registered office

35A Hazlemere Road
Penn
High Wycombe
Buckinghamshire
HP10 8AD

Auditors

Cohen Arnold
Chartered Accountants and Registered Auditor
New Burlington House
1075 Finchley Road
London
NW11 0PU

 

Marsden International Legal Search Limited

(Registration number: 05173876)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

12,441

10,256

Investments

6

10,583

10,583

 

23,024

20,839

Current assets

 

Debtors

7

3,906,761

4,473,507

Cash at bank and in hand

 

1,176,813

1,879,681

 

5,083,574

6,353,188

Creditors: Amounts falling due within one year

8

(2,799,122)

(3,462,031)

Net current assets

 

2,284,452

2,891,157

Total assets less current liabilities

 

2,307,476

2,911,996

Provisions for liabilities

(3,110)

(2,564)

Net assets

 

2,304,366

2,909,432

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

2,304,266

2,909,332

Shareholders' funds

 

2,304,366

2,909,432

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
J D Marsden
Director

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 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:
35A Hazlemere Road
Penn
High Wycombe
Buckinghamshire
HP10 8AD
UK

The principal place of business is:
46 Bow Lane
London
EC4M 9DL

These financial statements were authorised for issue by the Board on 25 March 2025.

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.

Group accounts not prepared

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and are considered eligible for exemption from preparing consolidated financial statements as determined by reference to sections 384 and 399(2A) of the Act.

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

2 Accounting policies (cont'd)

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due, based on the net current asset position of the Company and available finance.

The cash flow forecasts together with cash balances show the Company has adequate cash reserves to meet their liabilities for at least 12 months from the date of approval of these financial statements.

After reviewing the company’s forecasts, the directors have a reasonable expectation that the Company has adequate resources to continue for the foreseeable future and the financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 25 March 2025 was Keith Sussman, who signed for and on behalf of Cohen Arnold.

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

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, 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.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

2 Accounting policies (cont'd)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Fixture and fittings

straight line over 3 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

2 Accounting policies (cont'd)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 30 (2023 - 27).

4

Auditors' remuneration

The audit fees associated with both years covered by these financial statements has been accounts for and will be settled by the company's ultimate parent undertaking.

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

55,556

55,556

Additions

8,568

8,568

Disposals

(5,834)

(5,834)

At 30 June 2024

58,290

58,290

Depreciation

At 1 July 2023

45,300

45,300

Charge for the year

6,382

6,382

Eliminated on disposal

(5,833)

(5,833)

At 30 June 2024

45,849

45,849

Carrying amount

At 30 June 2024

12,441

12,441

At 30 June 2023

10,256

10,256

6

Investments

2024
£

2023
£

Investments in subsidiaries

10,583

10,583

Subsidiaries

£

Cost or valuation

At 1 July 2023

10,583

Provision

Carrying amount

At 30 June 2024

10,583

At 30 June 2023

10,583

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,185,506

717,659

Amounts owed by related parties

12

2,469,600

3,697,759

Prepayments

 

61,394

58,089

Other debtors

 

190,261

-

   

3,906,761

4,473,507

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

71,104

55,263

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

1,952,525

1,560,799

Taxation and social security

 

328,345

946,067

Accruals and deferred income

 

422,393

878,243

Other creditors

 

24,755

21,659

 

2,799,122

3,462,031

Included within Other Creditors is £13,353 (2023 - £6,662) which is secured on a fixed and floating charge over the assets of the company.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

14,845

-

Later than one year and not later than five years

25,445

-

40,290

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £2,017 (2023 - £Nil).

11

Dividends

2024

2023

£

£

Interim dividend of £9,000.00 (2023 - £5,000.00) per ordinary share

900,000

500,000

 

 

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

253,600

200,000

Summary of transactions with parent

Immediate parent company and ultimate parent company
 Transactions with parent companies comprise management fees chargeable to the company and dividend payments made to the ultimate parent on behalf of the intermediate parent company
 All loans between group companies are interest-free and repayable on demand
 

Summary of transactions with entities with joint control or significant interest

Fellow subsidiary companies
 Transactions relate to share of recruitment placement fees, administrative services and management charges
 All inter-company balances are repayable on demand and are interest-free
 

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

12 Related party transactions (cont'd)


 

Summary of transactions with subsidiaries

Subsidiaries of Marsden International Legal Search Limited
 Transactions relate to share of recruitment fees, administrative services and management charges
 All loan balances are repayable on demand and are interest-free
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Subsidiary
£

Receipt of services

2,280,574

75,849

2023

Entities with joint control or significant influence
£

Subsidiary
£

Receipt of services

1,623,460

31,341

Expenditure with and payables to related parties

2024

Parent
£

Entities with joint control or significant influence
£

Subsidiary
£

Rendering of services

168,968

198,945

1,052,572

Transfers under finance arrangements (including loans and equity contributions)

900,000

-

-

1,068,968

198,945

1,052,572

2023

Parent
£

Entities with joint control or significant influence
£

Subsidiary
£

Rendering of services

161,710

322,660

871,244

Transfers under finance arrangements (including loans and equity contributions)

500,000

-

-

661,710

322,660

871,244

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

12 Related party transactions (cont'd)

Loans to related parties

2024

Parent
£

Entities with joint control or significant influence
£

Total
£

At start of period

1,706,229

1,991,530

3,697,759

Advanced

200,000

2,339,425

2,539,425

Repaid

(202,762)

(3,564,823)

(3,767,585)

At end of period

1,703,467

766,132

2,469,599

2023

Parent
£

Entities with joint control or significant influence
£

Subsidiary
£

Total
£

At start of period

125,407

171,083

226,933

523,423

Advanced

1,774,875

2,019,375

-

3,794,250

Repaid

(194,053)

(198,928)

(226,933)

(619,914)

At end of period

1,706,229

1,991,530

-

3,697,759

 

Marsden International Legal Search Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

12 Related party transactions (cont'd)

Loans from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Subsidiary
£

Total
£

At start of period

995,293

161,856

403,650

1,560,799

Advanced

-

80,351

1,077,471

1,157,822

Repaid

(5,652)

(16,801)

(743,643)

(766,096)

At end of period

989,641

225,406

737,478

1,952,525

2023

Parent
£

Entities with joint control or significant influence
£

Subsidiary
£

Total
£

At start of period

844,014

-

-

844,014

Advanced

151,279

161,856

644,311

957,446

Repaid

-

-

(240,661)

(240,661)

At end of period

995,293

161,856

403,650

1,560,799

13

Parent and ultimate parent undertaking

The company's immediate parent is Marsden Holdco Limited, incorporated in England and Wales.

 The ultimate parent is Cornhill Bond Consulting Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Cornhill Bond Consulting Limited. These financial statements are available upon request from Companies House. The registered office of the ultimate controlling party is 1st Floor, 46 Bow Lane, London EC4M 9DL.

 

As at 30 June 2024 80.4% ( 2023: 77.2%) of the parent company's issued share capital was acquired by an employee ownership trust as the Cornhill Bond Employee Ownership Trust ("the Trust") with options to obtain the remaining issued share capital over the next 9 years. The company is been controlled by Trident Trust Company (U.K.) Limited, acting as trustee for the Trust.