Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseProviding a platform for senior executives and search firms to share information,4837falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07100165 2024-01-01 2024-12-31 07100165 2023-01-01 2023-12-31 07100165 2024-12-31 07100165 2023-12-31 07100165 c:Director2 2024-01-01 2024-12-31 07100165 d:OfficeEquipment 2024-01-01 2024-12-31 07100165 d:OfficeEquipment 2024-12-31 07100165 d:OfficeEquipment 2023-12-31 07100165 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07100165 d:CurrentFinancialInstruments 2024-12-31 07100165 d:CurrentFinancialInstruments 2023-12-31 07100165 d:Non-currentFinancialInstruments 2024-12-31 07100165 d:Non-currentFinancialInstruments 2023-12-31 07100165 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07100165 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07100165 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 07100165 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07100165 d:ShareCapital 2024-12-31 07100165 d:ShareCapital 2023-12-31 07100165 d:SharePremium 2024-12-31 07100165 d:SharePremium 2023-12-31 07100165 d:OtherMiscellaneousReserve 2024-12-31 07100165 d:OtherMiscellaneousReserve 2023-12-31 07100165 d:RetainedEarningsAccumulatedLosses 2024-12-31 07100165 d:RetainedEarningsAccumulatedLosses 2023-12-31 07100165 c:FRS102 2024-01-01 2024-12-31 07100165 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07100165 c:FullAccounts 2024-01-01 2024-12-31 07100165 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07100165 d:WithinOneYear 2024-12-31 07100165 d:WithinOneYear 2023-12-31 07100165 d:BetweenOneFiveYears 2024-12-31 07100165 d:BetweenOneFiveYears 2023-12-31 07100165 2 2024-01-01 2024-12-31 07100165 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 07100165









EXECUTIVES PLACE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
EXECUTIVES PLACE LTD
REGISTERED NUMBER: 07100165

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,649
8,971

Current assets
  

Debtors: amounts falling due within one year
 5 
881,206
779,310

Cash at bank and in hand
 6 
569,092
529,036

  
1,450,298
1,308,346

Creditors: amounts falling due within one year
 7 
(902,083)
(732,006)

Net current assets
  
 
 
548,215
 
 
576,340

Total assets less current liabilities
  
574,864
585,311

Creditors: amounts falling due after more than one year
 8 
(20,038)
(24,194)

  

Net assets
  
554,826
561,117


Capital and reserves
  

Called up share capital 
  
36,712
36,042

Share premium account
  
6,137,561
5,762,261

Share option reserve
  
130,000
130,000

Profit and loss account
  
(5,749,447)
(5,367,186)

  
554,826
561,117


Page 1

 
EXECUTIVES PLACE LTD
REGISTERED NUMBER: 07100165
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Joseph Blass
Director

Date: 15 April 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company continued to provide a platform for senior executives and search firms to share information, along with a SaaS solution for search firms to manage business processes, including business development, assignments, client management, GDPR compliance, and database management. The software now also supports in-house executive search teams, enhancing corporate talent acquisition. 
 
Ongoing investment in R&D has driven a breakthrough, expanding the company’s technology beyond executive search into new markets. These advancements build on existing expertise, opening new opportunities while reinforcing the company’s commitment to innovation.
The Company is a private company limited by shares and is incorporated in England and Wales under  company number 07100165.
The registered office address is 137-139 Brent Street, London NW4 4DJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements and will be able to meet its debts as they fall due. 
The directors are confident that the Company's access to working capital and future profit generation will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.

Page 3

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted
Page 7

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 48 (2023 - 37).

Page 8

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
36,170


Additions
29,507


Disposals
(960)



At 31 December 2024

64,717



Depreciation


At 1 January 2024
27,199


Charge for the year on owned assets
10,869



At 31 December 2024

38,068



Net book value



At 31 December 2024
26,649



At 31 December 2023
8,971

Page 9

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
483,437
428,267

Other debtors
397,769
351,043

881,206
779,310



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
569,092
529,036

569,092
529,036



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,156
4,054

Trade creditors
44,542
24,690

Other taxation and social security
178,317
131,309

Other creditors
10,184
-

Accruals and deferred income
664,884
571,953

902,083
732,006


Page 10

 
EXECUTIVES PLACE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,038
24,194

20,038
24,194


The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable by instalments
2,336
6,928

2,336
6,928

The unsecured loan is a bounce back loan at the interest rate of 2.5% per annum and is repayable by instalments.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Employer contributions totalling £4,197 (2023: £110) were payable to the fund at the reporting date and are included in creditors.


10.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
40,921
23,791

Later than 1 year and not later than 5 years
35,520
7,727

76,441
31,518

 
Page 11