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Registration number: 08117906

Pier Recruitment Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 December 2020 to 31 March 2022

 

Pier Recruitment Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 9

 

Pier Recruitment Limited

Company Information

Directors

Mr Andrew John Stenning

Mrs Angela Caroline Potter

Registered office

2ND Floor Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB

Accountants

SRC-Time Ltd
2nd Floor Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB

 

Pier Recruitment Limited

Directors' Report for the Period from 1 December 2020 to 31 March 2022

The directors present their report and the abridged financial statements for the period from 1 December 2020 to 31 March 2022.

Director of the company

The directors who held office during the period were as follows:

Kathryn Gibson (ceased 1 July 2021)

Christopher David Goodman (ceased 1 July 2021)

Mr Andrew John Stenning (appointed 1 July 2021)

Ralph Gilbert (ceased 1 July 2021)

Mrs Angela Caroline Potter (appointed 1 July 2021)

Principal activity

The principal activity of the company is recruitment.

Going concern

The company has ceased to trade and will be closed with Companies House at the balance sheet date. The accounts have therefore been prepared on a break-up basis.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 22 August 2022 and signed on its behalf by:
 

.........................................
Mr Andrew John Stenning
Director

.........................................
Mrs Angela Caroline Potter
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pier Recruitment Limited
for the Period Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pier Recruitment Limited for the period ended 31 March 2022 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pier Recruitment Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pier Recruitment Limited and state those matters that we have agreed to state to the Board of Directors of Pier Recruitment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pier Recruitment Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pier Recruitment Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pier Recruitment Limited. You consider that Pier Recruitment Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Pier Recruitment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SRC-Time Ltd
2nd Floor Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB

22 August 2022

 

Pier Recruitment Limited

(Registration number: 08117906)
Abridged Balance Sheet as at 31 March 2022

Note

2022
£

2020
£

Fixed assets

 

Tangible assets

4

6,591

11,185

Current assets

 

Debtors

9,851

86,915

Cash at bank and in hand

 

1,199

269,921

 

11,050

356,836

Prepayments and accrued income

 

-

28,681

Creditors: Amounts falling due within one year

(16,191)

(65,047)

Net current (liabilities)/assets

 

(5,141)

320,470

Total assets less current liabilities

 

1,450

331,655

Creditors: Amounts falling due after more than one year

-

(250,000)

Provisions for liabilities

-

(2,125)

Accruals and deferred income

 

(1,250)

(14,813)

Net assets

 

200

64,717

Capital and reserves

 

Called up share capital

5

200

200

Profit and loss account

-

64,517

Shareholders' funds

 

200

64,717

For the financial period ending 31 March 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 period 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 August 2022 and signed on its behalf by:
 

 

Pier Recruitment Limited

(Registration number: 08117906)
Abridged Balance Sheet as at 31 March 2022

.........................................
Mr Andrew John Stenning
Director

.........................................
Mrs Angela Caroline Potter
Director

 

Pier Recruitment Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2020 to 31 March 2022

1

General information

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

The address of its registered office is:
2ND Floor Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB
United Kingdom

These financial statements were authorised for issue by the Board on 22 August 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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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 sale of goods and 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Pier Recruitment Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2020 to 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Computer equipment

25% straight line

Fixtures and fittings

25% straight line

Plant and machinery

25% straight line

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Pier Recruitment Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2020 to 31 March 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method 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 period, was 20 (2020 - 50).

 

Pier Recruitment Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 December 2020 to 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2020

56,197

56,197

Additions

189

189

At 31 March 2022

56,386

56,386

Depreciation

At 1 December 2020

45,012

45,012

Charge for the period

4,783

4,783

At 31 March 2022

49,795

49,795

Carrying amount

At 31 March 2022

6,591

6,591

At 30 November 2020

11,185

11,185

5

Share capital

Allotted, called up and fully paid shares

 

2022

2020

 

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

         

6

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2022
£

2020
£

Remuneration

-

21,884