The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

HC Group Search Ltd is a private company limited by shares incorporated in England and Wales. The registered office is N2 Bressenden Place, London, United Kingdom, SW1E 5BY.

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 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 pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the balance sheet date, the company had net assets of £200,077 and made a loss for the year of £404,141. 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 based on budgeted profits for the next financial year. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

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.

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.

The Company only has basic financial instruments measured at amortised cost.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Other operating income

Management charges are shown net of VAT where it is applicable and reflect overheads rechargeable to fellow group companies.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

A debenture is in place with the company's bankers over all monies due, or to become due, from the company to the chargee on any account whatsoever. With fixed and floating charges over the undertaking and all property and assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

A rent deposit deed is in place over all monies due, or to become due, from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The company has taken advantage of the exemption under FRS 102 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.

Included within amounts owed to group companies is £5,352 (2023 - £5,352) due to HC Goup Search Ltda, a fellow subsidiary within the HC Global Group Limited group of companies. The balance is interest free with no formal repayment terms.

The immediate parent company is HC Group Search Holdings Ltd. The registered office is N2 Bressenden Place, 3rd Floor, London, England, SW1E 5BY.

The ultimate parent company is HC Group Global Holdings Ltd. The registered office is N2 Bressenden Place, 3rd Floor, London, England, SW1E 5BY.

The financial statements of the ultimate company of the group, HC Group Global Holdings Ltd, are publicly available. Copies of the group consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF4 3UZ.