Silverfin false 31/12/2021 31/12/2021 01/12/2020 T Grondona 03/01/2014 J N Mallejacq-Flynn 03/01/2014 01 September 2022 The principal activity of the Company during the financial period was the provision of recruitment services. 08831239 2021-12-31 08831239 bus:Director1 2021-12-31 08831239 bus:Director2 2021-12-31 08831239 2020-11-30 08831239 core:CurrentFinancialInstruments 2021-12-31 08831239 core:CurrentFinancialInstruments 2020-11-30 08831239 core:Non-currentFinancialInstruments 2021-12-31 08831239 core:Non-currentFinancialInstruments 2020-11-30 08831239 core:ShareCapital 2021-12-31 08831239 core:ShareCapital 2020-11-30 08831239 core:RetainedEarningsAccumulatedLosses 2021-12-31 08831239 core:RetainedEarningsAccumulatedLosses 2020-11-30 08831239 core:OfficeEquipment 2020-11-30 08831239 core:OfficeEquipment 2021-12-31 08831239 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2021-12-31 08831239 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2020-11-30 08831239 core:Non-currentFinancialInstruments core:WithinOneYear 2021-12-31 08831239 core:Non-currentFinancialInstruments core:WithinOneYear 2020-11-30 08831239 bus:OrdinaryShareClass1 2021-12-31 08831239 2020-12-01 2021-12-31 08831239 bus:FullAccounts 2020-12-01 2021-12-31 08831239 bus:SmallEntities 2020-12-01 2021-12-31 08831239 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-12-31 08831239 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-12-31 08831239 bus:Director1 2020-12-01 2021-12-31 08831239 bus:Director2 2020-12-01 2021-12-31 08831239 core:OfficeEquipment core:TopRangeValue 2020-12-01 2021-12-31 08831239 2019-12-01 2020-11-30 08831239 core:OfficeEquipment 2020-12-01 2021-12-31 08831239 bus:OrdinaryShareClass1 2020-12-01 2021-12-31 08831239 bus:OrdinaryShareClass1 2019-12-01 2020-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08831239 (England and Wales)

CODESOURCE RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial period from 01 December 2020 to 31 December 2021
Pages for filing with the registrar

CODESOURCE RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial period from 01 December 2020 to 31 December 2021

Contents

CODESOURCE RECRUITMENT LIMITED

BALANCE SHEET

As at 31 December 2021
CODESOURCE RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 31.12.2021 30.11.2020
£ £
Fixed assets
Tangible assets 4 613 1,278
613 1,278
Current assets
Debtors 5 221,921 113,881
Cash at bank and in hand 4,253 5,593
226,174 119,474
Creditors
Amounts falling due within one year 6 ( 176,203) ( 58,062)
Net current assets 49,971 61,412
Total assets less current liabilities 50,584 62,690
Creditors
Amounts falling due after more than one year 7 ( 34,792) ( 44,167)
Net assets 15,792 18,523
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 15,692 18,423
Total shareholders' funds 15,792 18,523

For the financial period ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Codesource Recruitment Limited (registered number: 08831239) were approved and authorised for issue by the Director on 01 September 2022. They were signed on its behalf by:

T Grondona
Director
CODESOURCE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2020 to 31 December 2021
CODESOURCE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2020 to 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

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

The address of its registered office is:
Riverside Centre
63-67 High Street
TEDDINGTON
Middlesex
TW11 8HA

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A''), and with the Companies Act 2006.

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements

At the time of approval of the accounts, the UK is recovering from unprecedented challenges arising from the Covid-19 pandemic. Every decision that the directors are currently making is based upon ensuring that the business comes through this and the directors are confident that the business is currently well placed to continue successfully negotiating these unprecedented challenges.

Turnover

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 and after eliminating sales within the company.

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.

Taxation

Current 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 corporation 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 fixed assets

Tangible assets is stated in the statement of financial position 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.

Office equipment 3 years straight line

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

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Trade and other 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.

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 and other 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Loans and 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

Period from
01.12.2020 to
31.12.2021
Year ended
30.11.2020
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 December 2020 3,389 3,389
Additions 131 131
At 31 December 2021 3,520 3,520
Accumulated depreciation
At 01 December 2020 2,111 2,111
Charge for the financial period 796 796
At 31 December 2021 2,907 2,907
Net book value
At 31 December 2021 613 613
At 30 November 2020 1,278 1,278

5. Debtors

31.12.2021 30.11.2020
£ £
Trade debtors 76,795 24,905
Other debtors 145,126 88,976
221,921 113,881

6. Creditors: amounts falling due within one year

31.12.2021 30.11.2020
£ £
Bank loans 10,000 6,458
Trade creditors 5,482 1,732
Other creditors 66,222 3,413
Corporation tax 58,119 11,600
Other taxation and social security 36,380 34,859
176,203 58,062

7. Creditors: amounts falling due after more than one year

31.12.2021 30.11.2020
£ £
Bank loans and overdrafts 34,792 44,167
Bank loans
31.12.2021 30.11.2020
£ £
Between two and five years 34,792 44,167
On demand or within one year 10,000 6,458
44,792 50,625

8. Called-up share capital

31.12.2021 30.11.2020
£ £
Allotted, called-up and fully-paid
100 1 GBP ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

31.12.2021 30.11.2020
£ £
T Grondona 28,932 36,200
J N Mallejacq-Flynn 60,250 38,232

During the year, advances of £16,500 (2020: £20,700) were made to T Grondona with repayments totalling £23,768 (2020: Nil). Advances of £60,250 (2020: £38,232) were made to J N Mallejacq-Flynn with repayments totalling £38,232 (2020: Nil).