Company registration number 03239279 (England and Wales)
ACCESS COMPUTER CONSULTING PLC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
ACCESS COMPUTER CONSULTING PLC
CONTENTS
Page
Company information
1
Strategic report
2 - 4
Directors' report
5 - 6
Directors' responsibilities statement
7
Independent auditor's report
8 - 11
Statement of comprehensive income
12
Balance sheet
13
Statement of changes in equity
14
Statement of cash flows
15
Notes to the financial statements
16 - 26
ACCESS COMPUTER CONSULTING PLC
COMPANY INFORMATION
- 1 -
Directors
Mr A Head
Mr D Butler-McAllister
Company number
03239279
Registered office
Access House
25-29 Church Street
Basingstoke
Hampshire
RG21 7QQ
Auditors
TC Group
Kings House
9-10 Haymarket
London
SW1Y 4BP
ACCESS COMPUTER CONSULTING PLC
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
The directors present the strategic report and financial statements for the year ended 31 December 2024.
Principal activity
The principal activity of the company during the year under review was that of computer consultancy, staff recruitment and subcontracting agency.
Business Review
2024 has been a transitional year for Access Computer Consulting plc as we began to reposition the business in response to an evolving IT services landscape. While the first half of the year remained subdued—with ongoing caution in client spending and slower decision-making cycles—the second half showed signs of recovery, with new opportunities emerging across both permanent and contract recruitment markets.
Key to our progress this year has been a renewed strategic focus on our core strengths: connecting top-tier IT talent with enterprise clients and supporting large-scale transformation initiatives. We have restructured parts of the business to streamline delivery and reinvested in sales and marketing to better articulate our value proposition. This included strengthening our digital footprint and expanding relationships with key hiring managers in technology, banking, and financial services.
We also took steps to diversify our revenue base, including early-stage development of automated service offerings and exploring longer-term managed service engagements with select clients.
Despite continued margin pressures, the business remains financially stable and debt-free. With a leaner cost base and a clearer focus, we are confident in our ability to return to sustainable growth.
Principal risks and uncertainties
While UK inflation eased during 2024, the macroeconomic backdrop remains uncertain. Corporate budgets, particularly for discretionary IT spending, are still under review in many sectors. Access plc continues to monitor economic indicators closely to guide investment and operational decisions.
Our reliance on skilled and qualified individuals remains a key dependency. Talent availability, competition from larger players, and shifting expectations around hybrid and remote work all pose resourcing challenges. In response, we have enhanced our candidate engagement processes and invested in tools to improve recruiter efficiency and responsiveness.
We are also aware of the need to adapt to changing compliance and ESG (Environmental, Social, and Governance) requirements, particularly as we aim to win work with larger enterprise and public sector clients.
Key performance indicators
The company monitors its performance against strategic objectives by means of key performance indicators. The main KPIs it uses are oriented around margins and turnover.
ACCESS COMPUTER CONSULTING PLC
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Directors' statement of compliance with duty to promote the success of the company
This statement by the Board of Directors describes how they have approached their responsibilities under S172 of the Companies Act 2006 in the financial period ending 31 December 2024.
The Directors promote the success of the Company for the benefit its sole shareholder whilst taking the following into account, amongst other matters.
The likely consequences of any decision in the long term
The Directors understand the business and the constantly changing environment in which we operate.
The Directors recognise that there are differing societal views about our operations and that some Board decisions taken today may not align with all stakeholder interests. Given the complexity of the evolving energy transition, the Directors have taken the decisions they believe best support Access’s strategic and long-term ambitions.
The interests of the company’s employees
The Directors recognise that Access employees are fundamental and core to our business and the delivery of our strategic ambitions. The success of our business depends on attracting, retaining and motivating talented employees. The Directors consider and assess the implications of decisions on employees and the wider workforce, where relevant and feasible. The Directors seek to ensure that Access remains a responsible employer, including with respect to pay and benefits, health and safety issues, and the workplace environment.
The need to foster the company’s business relationships with suppliers, customers and others
Delivering our strategy requires strong mutually beneficial relationships with suppliers and customers in both the private and public sector and with any joint-venture partners. Access seeks to promote and apply certain general principles in such relationships. The ability to promote these principles effectively is an important factor in the decision to enter into or remain in such relationships.
The Directors also receive regular updates on a variety of topics that indicate the future of our sector.
These updates include information provided by the Projects & Technology function on suppliers and joint-venture partners, with respect to items such as project updates and supplier contract management. Businesses also provide information on customers and joint-venture partners in relation to business strategies, projects, and investment or divestment proposals.
The impact of the company’s operations on the community and the environment
This aspect is inherent in our strategic ambitions. The Board maintained a strong interface with businesses and staff through virtual engagements, making best use of the technology available. Access encourages staff to use cycles and has recently set-up a cycle club that invites like minded individuals to participate.
ACCESS COMPUTER CONSULTING PLC
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
The desirability of the company maintaining a reputation for high standards of business conduct
Access meets the growing need for greater visibility from clients with regular reviews audits and submissions which prove we are economically, environmentally and socially responsible.
Mr A Head
Director
27 June 2025
ACCESS COMPUTER CONSULTING PLC
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
The directors present their annual report and financial statements for the year ended 31 December 2024.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr A Head
Mr D Butler-McAllister
Results and dividends
The results for the year are set out on page 12.
Ordinary dividends were paid amounting to £300,000. The directors do not recommend payment of a further dividend.
Financial instruments
Details of the company's financial risk management objectives and policies are included in Note 18 to the accounts.
Future developments
The investments which we made in our internal systems have enabled the company to create a base that will allow us to be 100% cloud based, resulting in our ability to run more efficiently thereby creating a more agile environment. We will continue to invest in our systems and strategy so that we run the business as efficiently as possible, and also to enable scalability and efficient working across our different offices. |
Strategic report
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large Companies (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the risks to the company.
Statement of disclosure to auditor
Each of the directors in office at the date of approval of this annual report confirms that:
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and
the director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Auditor
The auditor, TC Group, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
ACCESS COMPUTER CONSULTING PLC
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
On behalf of the board
Mr A Head
Director
27 June 2025
ACCESS COMPUTER CONSULTING PLC
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ACCESS COMPUTER CONSULTING PLC
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ACCESS COMPUTER CONSULTING PLC
- 8 -
Opinion
We have audited the financial statements of Access Computer Consulting PLC (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
ACCESS COMPUTER CONSULTING PLC
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ACCESS COMPUTER CONSULTING PLC
- 9 -
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.
ACCESS COMPUTER CONSULTING PLC
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ACCESS COMPUTER CONSULTING PLC
- 10 -
Our approach was as follows:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;
We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.
ACCESS COMPUTER CONSULTING PLC
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ACCESS COMPUTER CONSULTING PLC
- 11 -
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Keen FCCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
27 June 2025
Office: London
ACCESS COMPUTER CONSULTING PLC
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
2024
2023
Notes
£
£
Turnover
3
5,884,441
8,764,215
Cost of sales
(4,907,609)
(7,788,768)
Gross profit
976,832
975,447
Administrative expenses
(837,028)
(880,213)
Other operating income
200,472
Operating profit
4
139,804
295,706
Interest receivable and similar income
8
270,399
78,603
Interest payable and similar expenses
9
(436)
Profit before taxation
410,203
373,873
Tax on profit
10
(99,876)
(89,539)
Profit for the financial year
310,327
284,334
The Statement of Comprehensive Income has been prepared on the basis that all operations are continuing operations.
ACCESS COMPUTER CONSULTING PLC
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 13 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
312
416
Current assets
Debtors
13
785,585
1,717,986
Cash at bank and in hand
7,993,895
7,467,931
8,779,480
9,185,917
Creditors: amounts falling due within one year
15
(179,903)
(596,771)
Net current assets
8,599,577
8,589,146
Net assets
8,599,889
8,589,562
Capital and reserves
Called up share capital
18
50,000
50,000
Profit and loss reserves
8,549,889
8,539,562
Total equity
8,599,889
8,589,562
The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mr A Head
Director
Company registration number 03239279 (England and Wales)
ACCESS COMPUTER CONSULTING PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
50,000
8,255,228
8,305,228
Year ended 31 December 2023:
Profit and total comprehensive income
-
284,334
284,334
Balance at 31 December 2023
50,000
8,539,562
8,589,562
Year ended 31 December 2024:
Profit and total comprehensive income
-
310,327
310,327
Dividends
11
-
(300,000)
(300,000)
Balance at 31 December 2024
50,000
8,549,889
8,599,889
ACCESS COMPUTER CONSULTING PLC
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
641,538
621,812
Interest paid
(436)
Income taxes paid
(85,973)
(79,742)
Net cash inflow from operating activities
555,565
541,634
Investing activities
Interest received
270,399
78,603
Net cash generated from investing activities
270,399
78,603
Financing activities
Dividends paid
(300,000)
Net cash used in financing activities
(300,000)
-
Net increase in cash and cash equivalents
525,964
620,237
Cash and cash equivalents at beginning of year
7,467,931
6,847,694
Cash and cash equivalents at end of year
7,993,895
7,467,931
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
1
Accounting policies
Company information
Access Computer Consulting PLC is a private company limited by shares domiciled and incorporated in England and Wales. The registered office is Access House, 25-29 Church Street, Basingstoke, Hampshire, RG21 7QQ.
1.1
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.
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.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
For contract placements, revenue is recognised by the company in respect of services supplied on a month by month basis.
For permanent placements, turnover is recognised at the date on which the candidate commences employment.
For contracts to provide software and computer consultancy services the company recognises revenue to the extent that it has obtained the right to consideration through its performance under the contract.
Revenue in respect of maintenance and support contracts is recognised over the term of the contract.
1.4
Research and development expenditure
Research and development expenditure is written off against profits in the year in which it is incurred.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computer equipment
50% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
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.
1.8
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 balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at 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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised costs using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded as the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
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.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the period in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.11
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company. Contributions payable are charged to the profit and loss account in the year they are payable.
1.13
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.14
Foreign exchange
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are not retranslated.
Exchange differences arising on the settlement of monetary items and on the retranslation of monetary items are taken to the profit and loss account.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are 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.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Turnover
An analysis of the company's turnover is as follows:
2024
2023
£
£
Turnover
Temporary contractors
3,585,566
5,805,983
Permanent placements
101,408
116,569
Sale of software and managed services
2,001,010
2,832,009
Other miscellaneous income
196,457
9,654
5,884,441
8,764,215
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
8,948
189
Depreciation of owned tangible fixed assets
104
138
Operating lease charges
114
196
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
5
Auditors' remuneration
2024
2023
Fees payable to the company's auditor and its associates:
£
£
For audit services
Audit of the company's financial statements
20,225
18,025
For other services
In respect of other services
1,725
525
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Distribution staff
7
7
Administrative staff
3
3
Management staff
2
2
12
12
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
506,567
519,453
Social security costs
49,970
54,219
Pension costs
16,584
17,084
573,121
590,756
7
Directors' remuneration
No remuneration was paid to the directors.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
270,399
78,603
9
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
-
436
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
103,649
89,539
Adjustments in respect of prior periods
(3,773)
Total current tax
99,876
89,539
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
410,203
373,873
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
102,551
87,860
Tax effect of expenses that are not deductible in determining taxable profit
1,160
1,429
Permanent capital allowances in excess of depreciation
(63)
(89)
Under/(over) provided in prior years
(3,772)
Tax at marginal rate
339
Taxation charge for the year
99,876
89,539
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
11
Dividends
2024
2023
£
£
Interim paid
300,000
12
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
1,500
15,147
15,110
31,757
Depreciation and impairment
At 1 January 2024
1,391
15,147
14,803
31,341
Depreciation charged in the year
27
77
104
At 31 December 2024
1,418
15,147
14,880
31,445
Carrying amount
At 31 December 2024
82
230
312
At 31 December 2023
109
307
416
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
372,588
924,074
Other debtors
197,992
313,566
Prepayments and accrued income
215,005
480,346
785,585
1,717,986
14
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
648,220
1,242,951
Carrying amount of financial liabilities
Debt instruments measured at amortised cost
68,606
491,940
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 24 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,887
10,707
Corporation tax
103,649
89,746
Other taxation and social security
7,648
15,085
Other creditors
367
2,305
Accruals and deferred income
43,352
478,928
179,903
596,771
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
16,584
17,084
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
17
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Services provided
2024
2023
£
£
Other related parties
25,944
200,472
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
18
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
50,000 Ordinary shares of £1 each
50,000
50,000
The company has one class of ordinary shares which entitles the holder to full voting rights, full entitlement in respect of dividends and on winding up.
19
Finanical risk management, objectives and policies
Credit risk
The company monitors credit risk closely and considers that its current policies of credit checks meets its objectives of managing exposure to credit risk.
The company has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.
Currency risk
As at 31st December 2024 the company had no material currency exposures. The company's financial instruments are materially denominated in sterling.
Fair values of financial assets and liabilities
An assessment of the fair value of the company's financial instruments held for financing purposes has been undertaken as at 31st December 2024. No material differences exist between book and fair value.
20
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
7,381
7,381
Between two and five years
7,381
7,381
14,762
21
Ultimate controlling party
During the current and previous year, the company was under the control of Mr A. Head by virtue of his majority shareholding.
ACCESS COMPUTER CONSULTING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
22
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
310,327
284,334
Adjustments for:
Taxation charged
99,876
89,539
Finance costs
436
Interest income
(270,399)
(78,603)
Depreciation and impairment of tangible fixed assets
104
138
Movements in working capital:
Decrease in debtors
896,085
319,050
(Decrease)/increase in creditors
(394,455)
6,918
Cash generated from operations
641,538
621,812
23
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
7,467,931
525,964
7,993,895
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