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Registration number: 10125718

CPR Recruitment Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

CPR Recruitment Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

CPR Recruitment Limited

Company Information

Directors

Mr R Khoury

Mr T R Sutton

Mr L C Skeggs

Registered office

The Business Terrace
Maidstone House
Maidstone
Kent
ME15 6JQ

Accountants

Taylor Brooker Accountancy Limited
Suite 122
70 Churchill Square
Kingshill
West Malling
Kent
ME19 4YU

 

CPR Recruitment Limited

(Registration number: 10125718)
Balance Sheet as at 30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

13,652

7,001

Current assets

 

Debtors

5

2,678,798

61,985

Cash at bank and in hand

 

285,572

258,903

 

2,964,370

320,888

Creditors: Amounts falling due within one year

6

(2,508,788)

(157,676)

Net current assets

 

455,582

163,212

Net assets

 

469,234

170,213

Capital and reserves

 

Called up share capital

7

290

290

Retained earnings

468,944

169,923

Shareholders' funds

 

469,234

170,213

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 June 2022 and signed on its behalf by:
 

 

CPR Recruitment Limited

(Registration number: 10125718)
Balance Sheet as at 30 April 2022

.........................................
Mr T R Sutton
Director

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Business Terrace
Maidstone House
Maidstone
Kent
ME15 6JQ

The company was previously within the thresholds for a micro company and prepared accounts under FRS105

These financial statements were authorised for issue by the Board on 30 June 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Furniture and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost , less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are an invoice factoring arrangement.

Interest expense is recognised on the basis of the contractual obligation and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2021 - 10).

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2021

8,952

8,952

Additions

11,201

11,201

At 30 April 2022

20,153

20,153

Depreciation

At 1 May 2021

1,951

1,951

Charge for the year

4,550

4,550

At 30 April 2022

6,501

6,501

Carrying amount

At 30 April 2022

13,652

13,652

At 30 April 2021

7,001

7,001

5

Debtors

Current

2022
£

2021
£

Trade debtors

2,678,713

-

Prepayments

85

3,348

Other debtors

-

58,637

 

2,678,798

61,985

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

2,162,694

-

Taxation and social security

 

328,637

150,878

Accruals and deferred income

 

3,000

2,400

Other creditors

 

14,457

4,398

 

2,508,788

157,676

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

Ordinary "A" shares of £1 each

90

90

90

90

 

290

290

290

290

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

2,162,694

-

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

9

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £1,390.00 (2021 - £839.50) per each Ordinary shares

 

278,000

 

167,870

Interim dividend of £3,204.00 (2021 - £1,465.00) per each Ordinary "A" shares

 

288,360

 

131,850

   

566,360

 

299,720

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

26,595

26,352

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

11

Transition to FRS 102

Balance Sheet at 1 May 2020
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

812

-

-

812

Current assets

Debtors

23,058

-

-

23,058

Cash at bank and in hand

98,000

-

-

98,000

121,058

-

-

121,058

Creditors: Amounts falling due within one year

(88,913)

-

-

(88,913)

Net current assets

32,145

-

-

32,145

Net assets

32,957

-

-

32,957

Capital and reserves

Called up share capital

(290)

-

-

(290)

Retained earnings

(32,667)

-

-

(32,667)

Total equity

(32,957)

-

-

(32,957)

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Balance Sheet at 30 April 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Tangible assets

7,001

-

-

7,001

Current assets

Debtors

61,985

-

-

61,985

Cash at bank and in hand

258,903

-

-

258,903

320,888

-

-

320,888

Creditors: Amounts falling due within one year

(157,676)

-

-

(157,676)

Net current assets

163,212

-

-

163,212

Net assets

170,213

-

-

170,213

Capital and reserves

Called up share capital

(290)

-

-

(290)

Retained earnings

(169,923)

-

-

(169,923)

Total equity

(170,213)

-

-

(170,213)

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Profit and Loss Account for the year ended 30 April 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

6,478,979

-

-

6,478,979

Cost of sales

(5,660,380)

-

-

(5,660,380)

Gross profit

818,599

-

-

818,599

Administrative expenses

(291,423)

-

-

(291,423)

Other operating income

11,736

-

-

11,736

Operating profit

538,912

-

-

538,912

Profit before tax

538,912

-

-

538,912

Taxation

(101,936)

-

-

(101,936)

Profit for the financial year

436,976

-

-

436,976