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REGISTERED NUMBER: 14274743 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Total Rewards Search Limited

Total Rewards Search Limited (Registered number: 14274743)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Total Rewards Search Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R W H Colgan
Mr B M Forster
Mr J Newton
Mrs C Kirkham





REGISTERED OFFICE: 4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF





REGISTERED NUMBER: 14274743 (England and Wales)





ACCOUNTANTS: Ward Goodman Audit Services Ltd
4 Cedar Park
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Total Rewards Search Limited (Registered number: 14274743)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 198,664 -
Investments 5 792 -
199,456 -

CURRENT ASSETS
Debtors 6 595,808 4
Cash at bank 26,453 -
622,261 4
CREDITORS
Amounts falling due within one year 7 1,300,523 -
NET CURRENT (LIABILITIES)/ASSETS (678,262 ) 4
TOTAL ASSETS LESS CURRENT
LIABILITIES

(478,806

)

4

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (478,810 ) -
(478,806 ) 4

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Total Rewards Search Limited (Registered number: 14274743)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr R W H Colgan - Director


Total Rewards Search Limited (Registered number: 14274743)

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

1. STATUTORY INFORMATION

Total Rewards Search Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Total Rewards Search Limited (Registered number: 14274743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
The directors have reviewed the accounts and current financials with a view to assessing the company’s ability to continue to trade as a going concern for a period of no less than 12 months from the signing of these financial statements. The company has reported a loss for the financial year to 31 March 2024 of £478,810 and this is largely due to set up costs of the company and recharged amounts from the related entity Oakleaf Partnership limited. Since the year end, the company has experienced a positive revenue trend as it moves towards the close of the 2025 financial year, driven by the team's growing presence and stronger position within the market. On this basis the directors believe the going concern basis is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 216,724
At 31 March 2024 216,724
AMORTISATION
Charge for year 18,060
At 31 March 2024 18,060
NET BOOK VALUE
At 31 March 2024 198,664

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 792
At 31 March 2024 792
NET BOOK VALUE
At 31 March 2024 792

Total Rewards Search Limited (Registered number: 14274743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53 -
Amounts owed by group undertakings 478,115 -
Other debtors 4 4
Directors' loan accounts 25,000 -
VAT 83,322 -
Prepayments and accrued income 9,314 -
595,808 4

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to companies
under common control 1,230,033 -
Trade creditors 41,304 -
Taxation and social security 25,761 -
Other creditors 3,425 -
1,300,523 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
Mr J Newton
Balance outstanding at start of year - -
Amounts advanced 25,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,000 -

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Total Rewards Search Limited (Registered number: 14274743)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. RELATED PARTY DISCLOSURES - continued

Included in expenditure are amounts totalling £408,489 (2023: £nil) relating to management recharges from Oakleaf Partnership Ltd, a company under common control by way of shareholders, for the year ended 31 March 2024. Oakleaf Partnership Ltd also provided loan amounts and as at the year end date is owed £1,230,033 (2023: £nil) from Total Rewards Search Limited.

During the year Oakleaf Partnership Ltd sold business assets to Total Rewards Search Ltd, a company under common control, for consideration of £458,215, resulting in the acquisition of £216,724 of acquired goodwill in these financial statements.