REGISTERED NUMBER: 08536457 (England and Wales)

CANDELA SEARCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

Mr H D M Man

Registered office:

1 Lyric Square

London

W6 0NB

Registered number:

08536457 (England and Wales)

Fixed assets

Tangible assets

4

15,298

22,853

Investments

5

59

59

15,357

22,912

Current assets

Debtors

6

1,033,185

766,500

Cash at bank

92,411

133,834

1,125,596

900,334

Creditors

Amounts falling due within one year

7

420,463

627,275

Net current assets

705,133

273,059

Total assets less current liabilities

720,490

295,971

Provisions for liabilities

8

3,824

4,342

Net assets

716,666

291,629

Capital and reserves

Called up share capital

9

1,000

1,000

Retained earnings

715,666

290,629

Shareholders' funds

716,666

291,629

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 director acknowledges his 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 director and authorised for issue on 30 September 2025 and were signed by:

Mr H D M Man - Director

1.	Statutory information

Candela Search Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents net invoiced sales of services, excluding value added tax.

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

-

Straight line over 6 years

Bicycles

-

Straight line over 2 years

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments

The company applies the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

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 payments 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 or 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 cost using the effective interest method.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	Employees and directors

The average number of employees during the year was 12 (2023 - 11 ) .

4.	Tangible fixed assets

Fixtures

Company

and

Computer

Website

fittings

Bicycles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2024

25,000

2,702

4,374

55,835

87,911

Additions

-

-

1,667

5,415

7,082

At 31 December 2024

25,000

2,702

6,041

61,250

94,993

Depreciation

At 1 January 2024

12,618

1,573

4,374

46,493

65,058

Charge for year

5,000

543

1,667

7,427

14,637

At 31 December 2024

17,618

2,116

6,041

53,920

79,695

Net book value

At 31 December 2024

7,382

586

-

7,330

15,298

At 31 December 2023

12,382

1,129

-

9,342

22,853

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2024

and 31 December 2024

59

Net book value

At 31 December 2024

59

At 31 December 2023

59

The company's investments at the Balance sheet date in the share capital of companies include the following:

Candela Search Inc

Registered office: Corporation Trust Centre, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801, USA

Nature of business: Specialist recruitment

%

Class of shares:

holding

Ordinary

100.00

2024

2023

£

£

Aggregate capital and reserves

150,230

112,604

Profit for the year

50,231

56,831

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

260,795

267,152

Amounts owed by group undertakings

748,866

476,521

Other debtors

21,000

7,500

VAT

-

14,029

Prepayments

2,524

1,298

1,033,185

766,500

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

8,071

40,501

Corporation Tax

176,843

119,520

Social security and other taxes

37,509

(189,307

)

VAT

15,381

-

Other creditors

108,773

587,842

Accrued expenses

73,886

68,719

420,463

627,275

8.	Provisions for liabilities

2024

2023

£

£

Deferred tax

3,824

4,342

Deferred tax

£

Balance at 1 January 2024

4,342

Accelerated Capital Allowances

(518

)

Balance at 31 December 2024

3,824

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.	Ultimate parent company

Lumens Partners Limited is regarded by the director as being the company's ultimate parent company.

The ultimate controlling party of Lumens Partners Limited is Mr H D M Man by virtue of his

shareholding.