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REGISTERED NUMBER: 13035162 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Potensis Selection Limited

Potensis Selection Limited (Registered number: 13035162)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Potensis Selection Limited (Registered number: 13035162)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 72,878 85,221
Tangible fixed assets 5 5,487 9,890
78,365 95,111

CURRENT ASSETS
Debtors 6 155,044 241,055
Cash at bank 53,569 6,735
208,613 247,790
CREDITORS
Amounts falling due within one year 7 264,521 363,433
NET CURRENT LIABILITIES (55,908 ) (115,643 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,457 (20,532 )

PROVISIONS FOR LIABILITIES 1,319 1,831
NET ASSETS/(LIABILITIES) 21,138 (22,363 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,038 (22,463 )
SHAREHOLDERS' FUNDS 21,138 (22,363 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





Mr J J Sullivan - Director


Potensis Selection Limited (Registered number: 13035162)

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

1. STATUTORY INFORMATION

Potensis Selection Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13035162

Registered office: Pentagon House
3rd Floor
52-54 Southwark Street
London
SE1 1UN

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

The following criteria must also be met before turnover is recognised:

Contingent assignments - on start of candidates employment
Executive search assignments - in accordance with stage of completion
Temporary workers - gross revenue on provision of services

Where amounts are billed in advance, these are deferred until work has been completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Potensis Selection Limited (Registered number: 13035162)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 123,430
AMORTISATION
At 1 January 2024 38,209
Amortisation for year 12,343
At 31 December 2024 50,552
NET BOOK VALUE
At 31 December 2024 72,878
At 31 December 2023 85,221

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 4,770 22,993 27,763
Additions - 1,719 1,719
At 31 December 2024 4,770 24,712 29,482
DEPRECIATION
At 1 January 2024 3,346 14,527 17,873
Charge for year 1,058 5,064 6,122
At 31 December 2024 4,404 19,591 23,995
NET BOOK VALUE
At 31 December 2024 366 5,121 5,487
At 31 December 2023 1,424 8,466 9,890

Potensis Selection Limited (Registered number: 13035162)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 115,638 206,414
Other debtors 39,406 34,641
155,044 241,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,838 28,575
Taxation and social security 86,998 26,689
Other creditors 172,685 308,169
264,521 363,433

8. POST BALANCE SHEET EVENTS

Since the accounts year-end, there has been a share for share exchange. Sullivan Group Limited is now the ultimate controlling party.