Management Appointments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01267752 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

MANAGEMENT APPOINTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G F Cross

N G Wylde

SECRETARY:

G F Cross

REGISTERED OFFICE:

Crowe U.K. LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

REGISTERED NUMBER:

01267752 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

FIXED ASSETS

Tangible assets

4

29

56

Investments

5

2,615

2,615

2,644

2,671

CURRENT ASSETS

Debtors

6

132,776

90,008

Cash in hand

327

27

133,103

90,035

CREDITORS

Amounts falling due within one year

7

158,617

174,815

NET CURRENT LIABILITIES

(25,514

)

(84,780

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,870

)

(82,109

)

CAPITAL AND RESERVES

Called up share capital

24,960

24,960

Capital redemption reserve

21,900

21,900

Retained earnings

(69,730

)

(128,969

)

SHAREHOLDERS' FUNDS

(22,870

)

(82,109

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 27 August 2019 and were signed on its behalf by:

N G Wylde - Director

1.	STATUTORY INFORMATION

Management Appointments 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.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when

preparing financial statements. The directors confirm that they consider that the going concern basis remains

appropriate. The directors realise that this has been a difficult year, however believe that the company has

sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to

be the case because the company has the support of its shareholders and has in place a business plan to

ensure that all creditors are paid in accordance with that plan or as debts fall due. Thus they continue to adopt

the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

62% (2017: 47%) of the company's turnover is attributed to markets outside the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange

ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the profit and loss account.

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.

Work in progress

No account is taken of assignments completed but not invoiced at the year end as, until the employment is taken

up by the employee, the company is unable to invoice its client. However, where stage payments are agreed and

those stages have been completed at the year end, the income arising therefrom is included in the financial

statements.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Debtors

Short term debtors are measured at transaction price, less any impairment.

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 no significant

risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 December 2017

and 30 November 2018

20,321

16,283

36,604

DEPRECIATION

At 1 December 2017

20,265

16,283

36,548

Charge for year

27

-

27

At 30 November 2018

20,292

16,283

36,575

NET BOOK VALUE

At 30 November 2018

29

-

29

At 30 November 2017

56

-

56

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 December 2017

and 30 November 2018

2,615

NET BOOK VALUE

At 30 November 2018

2,615

At 30 November 2017

2,615

The fixed asset investment relates to a sum invested in Stanton Chase International, which is the global

association name. The net book value of the investment is considered to be equal to cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

114,910

72,437

Other debtors

17,866

17,571

132,776

90,008

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

22,999

15,240

Trade creditors

52,418

67,943

Taxation and social security

27,976

48,526

Other creditors

55,224

43,106

158,617

174,815

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Between one and five years

8,367

8,367

9.	CONTINGENT LIABILITIES

The company is obliged to rework, at no extra cost to its clients, any assignment where a placed employee

leaves the new employer within the guarantee period. The directors are of the opinion that no material liabilities

are likely to arise from these guarantees.

10.	RELATED PARTY DISCLOSURES

N G Wylde

Director

During the year, the company paid consultancy fees of £68,166 (2017: £82,667) to Nicholas Wylde Consulting

Limited, a company owned by N G Wylde, a director of the company.

11.	CONTROLLING PARTY

The company is controlled by its directors.