Silverfin false 31/12/2021 31/12/2021 01/12/2020 Frank Fulbrook 01/10/2013 Todd Grondona 15/05/2012 01 September 2022 The principal activity of the Company during the financial period was the provision of recruitment services. 08069458 2021-12-31 08069458 bus:Director1 2021-12-31 08069458 bus:Director2 2021-12-31 08069458 2020-11-30 08069458 core:CurrentFinancialInstruments 2021-12-31 08069458 core:CurrentFinancialInstruments 2020-11-30 08069458 core:Non-currentFinancialInstruments 2021-12-31 08069458 core:Non-currentFinancialInstruments 2020-11-30 08069458 core:ShareCapital 2021-12-31 08069458 core:ShareCapital 2020-11-30 08069458 core:RetainedEarningsAccumulatedLosses 2021-12-31 08069458 core:RetainedEarningsAccumulatedLosses 2020-11-30 08069458 core:OfficeEquipment 2020-11-30 08069458 core:OfficeEquipment 2021-12-31 08069458 core:CurrentFinancialInstruments core:Secured 2021-12-31 08069458 core:Non-currentFinancialInstruments core:BetweenOneTwoYears 2021-12-31 08069458 core:Non-currentFinancialInstruments core:BetweenOneTwoYears 2020-11-30 08069458 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2021-12-31 08069458 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2020-11-30 08069458 core:Non-currentFinancialInstruments core:WithinOneYear 2021-12-31 08069458 core:Non-currentFinancialInstruments core:WithinOneYear 2020-11-30 08069458 bus:OrdinaryShareClass1 2021-12-31 08069458 bus:OrdinaryShareClass2 2021-12-31 08069458 bus:OrdinaryShareClass3 2021-12-31 08069458 core:WithinOneYear 2021-12-31 08069458 core:WithinOneYear 2020-11-30 08069458 core:BetweenOneFiveYears 2021-12-31 08069458 core:BetweenOneFiveYears 2020-11-30 08069458 2020-12-01 2021-12-31 08069458 bus:FullAccounts 2020-12-01 2021-12-31 08069458 bus:SmallEntities 2020-12-01 2021-12-31 08069458 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-12-31 08069458 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-12-31 08069458 bus:Director1 2020-12-01 2021-12-31 08069458 bus:Director2 2020-12-01 2021-12-31 08069458 core:OfficeEquipment 2020-12-01 2021-12-31 08069458 2019-12-01 2020-11-30 08069458 bus:OrdinaryShareClass1 2020-12-01 2021-12-31 08069458 bus:OrdinaryShareClass1 2019-12-01 2020-11-30 08069458 bus:OrdinaryShareClass2 2020-12-01 2021-12-31 08069458 bus:OrdinaryShareClass2 2019-12-01 2020-11-30 08069458 bus:OrdinaryShareClass3 2020-12-01 2021-12-31 08069458 bus:OrdinaryShareClass3 2019-12-01 2020-11-30 08069458 bus:OrdinaryShareClass4 2020-12-01 2021-12-31 08069458 bus:OrdinaryShareClass4 2019-12-01 2020-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08069458 (England and Wales)

NST RECRUITMENT LIMITED

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

NST RECRUITMENT LIMITED

Unaudited Financial Statements

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

Contents

NST RECRUITMENT LIMITED

BALANCE SHEET

As at 31 December 2021
NST RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 31.12.2021 30.11.2020
£ £
Fixed assets
Tangible assets 4 5,027 783
5,027 783
Current assets
Debtors 5 744,415 750,526
Cash at bank and in hand 28,747 32,644
773,162 783,170
Creditors
Amounts falling due within one year 6 ( 700,430) ( 803,445)
Net current assets/(liabilities) 72,732 (20,275)
Total assets less current liabilities 77,759 (19,492)
Creditors
Amounts falling due after more than one year 7 ( 38,333) ( 50,000)
Net assets/(liabilities) 39,426 ( 69,492)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 39,326 ( 69,592 )
Total shareholders' funds/(deficit) 39,426 ( 69,492)

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 NST Recruitment Limited (registered number: 08069458) were approved and authorised for issue by the Board of Directors on 01 September 2022. They were signed on its behalf by:

Todd Grondona
Director
NST RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 25 % reducing balance

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

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. 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 transaction.

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 and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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

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.

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 6 6

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 December 2020 1,124 1,124
Additions 4,773 4,773
At 31 December 2021 7,409 7,409
Accumulated depreciation
At 01 December 2020 341 341
Charge for the financial period 850 850
At 31 December 2021 2,382 2,382
Net book value
At 31 December 2021 5,027 5,027
At 30 November 2020 783 783

5. Debtors

31.12.2021 30.11.2020
£ £
Trade debtors 360,466 441,595
Amounts owed by Group undertakings ( 17,727) 0
Other debtors 401,676 308,931
744,415 750,526

6. Creditors: amounts falling due within one year

31.12.2021 30.11.2020
£ £
Bank loans (secured) 266,125 324,302
Trade creditors 84,770 193,898
Amounts owed to Group undertakings 753 0
Other creditors 47,956 109,576
Corporation tax 133,333 48,600
Other taxation and social security 167,493 127,069
700,430 803,445

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

31.12.2021 30.11.2020
£ £
Bank loans and overdrafts 38,333 50,000
Bank loans
31.12.2021 30.11.2020
£ £
Between one and two years 10,000 833
Between two and five years 28,333 49,167
38,333 50,000
On demand or within one year 266,125 324,302
304,458 374,302

8. Called-up share capital

31.12.2021 30.11.2020
£ £
Allotted, called-up and fully-paid
65 Ordinary A shares of £ 1.00 each (30.11.2020: nil shares) 65 0
25 Ordinary B shares of £ 1.00 each (30.11.2020: nil shares) 25 0
10 Ordinary C shares of £ 1.00 each (30.11.2020: nil shares) 10 0
nil 1 GBP ordinary shares (30.11.2020: 100 shares of £ 1.00 each) 0 100
100 100

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.12.2021 30.11.2020
£ £
- within one year 21,000 21,000
- between one and five years 43,750 66,500
64,750 87,500

10. Related party transactions

Transactions with the entity's directors

31.12.2021 30.11.2020
£ £
Director's loan account - T Grondona 87,102 62,500
Director's loan account - F Fulbrook 194,981 104,477

During the period, advances of £26,602 (2020: £62,500) were made to T Grondona, with repayments received totalling £2,000 (2020: £Nil). Advances of £90,504 were made to F Fulbrook (2020: £103,978).

Other related party transactions

31.12.2021 30.11.2020
£ £
Expenditure with related parties - rendering of services 153,580 126,000