Company registration number 12249772 (England and Wales)
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
COMPANY INFORMATION
Director
G S Redman
Company number
12249772
Registered office
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NOW CAREERS ACCOUNTANCY CARDIFF LIMITED FOR THE PERIOD ENDED 31 DECEMBER 2024
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Now Careers Accountancy Cardiff Limited for the Period ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Now Careers Accountancy Cardiff Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Now Careers Accountancy Cardiff Limited and state those matters that we have agreed to state to the board of directors of Now Careers Accountancy Cardiff Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Now Careers Accountancy Cardiff Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Now Careers Accountancy Cardiff Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Now Careers Accountancy Cardiff Limited. You consider that Now Careers Accountancy Cardiff Limited is exempt from the statutory audit requirement for the Period.
We have not been instructed to carry out an audit or a review of the financial statements of Now Careers Accountancy Cardiff Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
14 April 2025
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
31 December 2024
31 March 2024
Notes
£
£
£
£
Current assets
Debtors
4
11,260
17,352
Cash at bank and in hand
100
100
11,360
17,452
Creditors: amounts falling due within one year
5
(11,160)
(76)
Net current assets
200
17,376
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
17,176
Total equity
200
17,376
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 April 2025 and are signed on its behalf by:
G S Redman
Director
Company registration number 12249772 (England and Wales)
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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1
Accounting policies
Company information
Now Careers Accountancy Cardiff Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.
1.1
Reporting period
The accounting period has been reduced to 9 months due to the company ceasing trade. This has resulted in the figures not being entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
During the year the company has ceased to trade. It is therefore no longer prepared on a going concern basis.
1.4
Turnover
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.
(i) Temporary staff
The company recognised revenue in relation to the placement of temporary staff in line with the provision of the services provided by those staff.
(ii) Permanent staff
The company recognises revenue in relation to the placement of permanent staff at the point at which the staff member is placed with the customer.
1.5
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 current liabilities.
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
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1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.
1.8
Government grants
Government grants are recognised in the profit and loss account as income when such grant does not impose specified future performance - related conditions, in accordance with the performance model.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
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3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
December
March
2024
2024
Number
Number
Total
3
7
4
Debtors
December
March
2024
2024
Amounts falling due within one year:
£
£
Other debtors
11,260
17,352
5
Creditors: amounts falling due within one year
December
March
2024
2024
£
£
Taxation and social security
76
Other creditors
11,160
-
11,160
76
6
Called up share capital
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
7
Financial commitments, guarantees and contingent liabilities
The company has entered into cross guarantees arrangement with an invoice discount finance provider to another member of the group. The comparative also included a similar cross guarantee arrangement with a related company by virtue of common director and shareholder but this was removed in the year. This is supported by a fixed and floating charge over the company's assets. The contingent liability at the balance sheet date is £587,897 (2024 - £596,844). The future outcome is dependent upon the performance of individual companies concerned however the directors do not expect any liability to crystallise.
8
Related party transactions
Transactions with related parties
At the balance sheet date the amount due to the parent company was £11,160 (2024 - £nil).
NOW CAREERS ACCOUNTANCY CARDIFF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
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9
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Interest free loan repayable on demand
-
10,750
(10,750)
-
10,750
(10,750)
-
10
Parent company
The company's immediate parent is Now Careers Group Limited, incorporated in England.
Relationship between entity and parents
The parent of the smallest and largest group in which these financial statements are consolidated is Now Careers Group Limited, incorporated in England.
The address of Now Careers Group Limited is:
5 Prospect Place Millennium Way, Pride Park, Derby, United Kingdom, DE24 8HG.
These financial statements are available on request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.