Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28truefalse2021-03-01No description of principal activity557268falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06107910 2021-03-01 2022-02-28 06107910 2020-03-01 2021-02-28 06107910 2022-02-28 06107910 2021-02-28 06107910 c:Director2 2021-03-01 2022-02-28 06107910 d:FurnitureFittings 2021-03-01 2022-02-28 06107910 d:FurnitureFittings 2022-02-28 06107910 d:FurnitureFittings 2021-02-28 06107910 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-03-01 2022-02-28 06107910 d:ComputerEquipment 2021-03-01 2022-02-28 06107910 d:ComputerEquipment 2022-02-28 06107910 d:ComputerEquipment 2021-02-28 06107910 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-03-01 2022-02-28 06107910 d:OwnedOrFreeholdAssets 2021-03-01 2022-02-28 06107910 d:CurrentFinancialInstruments 2022-02-28 06107910 d:CurrentFinancialInstruments 2021-02-28 06107910 d:CurrentFinancialInstruments 1 2022-02-28 06107910 d:CurrentFinancialInstruments 1 2021-02-28 06107910 d:Non-currentFinancialInstruments 2022-02-28 06107910 d:Non-currentFinancialInstruments 2021-02-28 06107910 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06107910 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 06107910 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 06107910 d:Non-currentFinancialInstruments d:AfterOneYear 2021-02-28 06107910 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 06107910 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-02-28 06107910 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 06107910 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-02-28 06107910 d:ShareCapital 2022-02-28 06107910 d:ShareCapital 2021-02-28 06107910 d:RetainedEarningsAccumulatedLosses 2022-02-28 06107910 d:RetainedEarningsAccumulatedLosses 2021-02-28 06107910 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 06107910 d:AcceleratedTaxDepreciationDeferredTax 2021-02-28 06107910 c:FRS102 2021-03-01 2022-02-28 06107910 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 06107910 c:FullAccounts 2021-03-01 2022-02-28 06107910 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 06107910 2 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 06107910










PRIMARY CARE RECRUITMENT LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2022

 
PRIMARY CARE RECRUITMENT LIMITED
REGISTERED NUMBER: 06107910

BALANCE SHEET
AS AT 28 FEBRUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,271
25,242

  
20,271
25,242

Current assets
  

Debtors: amounts falling due within one year
 5 
1,960,993
1,391,770

Cash at bank and in hand
 6 
927,140
349,627

  
2,888,133
1,741,397

Creditors: amounts falling due within one year
 7 
(1,730,922)
(1,221,492)

Net current assets
  
 
 
1,157,211
 
 
519,905

Total assets less current liabilities
  
1,177,482
545,147

Creditors: amounts falling due after more than one year
 8 
-
(234,375)

Provisions for liabilities
  

Deferred tax
 10 
(4,833)
(4,578)

  
 
 
(4,833)
 
 
(4,578)

Net assets
  
1,172,649
306,194


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,172,647
306,192

  
1,172,649
306,194


Page 1

 
PRIMARY CARE RECRUITMENT LIMITED
REGISTERED NUMBER: 06107910
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2022.




................................................
J E Wood
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1.


General information

Primary Care Recruitment Limited (Company no: 06107910) is a private company limited by shares, which is incorporated and registered in England and Wales. The company's registered office is 10 Lansdowne Terrace, Gosforth, Newcastle upon Tyne, NE3 1HN. The principal activities of the company are a nursing and care recruitment agency. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the Company.
Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements. In assessing whether the company is a going concern, the directors have taken account of the impact of the coronavirus pandemic and do not believe that there are additional risks to the going concern status of the company, but will continue to monitor this closely.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue to provide services is recognised in the period in which the services are provided.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

  
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight line
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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 insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 557 (2021 - 268).

Page 6

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2021
14,188
39,057
53,245


Additions
2,472
4,031
6,503



At 28 February 2022

16,660
43,088
59,748



Depreciation


At 1 March 2021
9,404
18,599
28,003


Charge for the year on owned assets
1,938
9,536
11,474



At 28 February 2022

11,342
28,135
39,477



Net book value



At 28 February 2022
5,318
14,953
20,271



At 28 February 2021
4,784
20,458
25,242


5.


Debtors

2022
2021
£
£


Trade debtors
511,900
449,766

Other debtors
839,466
577,749

Prepayments and accrued income
379,596
218,336

Tax recoverable
230,031
145,919

1,960,993
1,391,770


Page 7

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
927,140
349,627

927,140
349,627



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
-
178,125

Trade creditors
12,216
15,557

Corporation tax
598,731
248,606

Other taxation and social security
190,593
126,688

Proceeds of factored debts
227,162
314,251

Other creditors
11,797
2,926

Accruals and deferred income
690,423
335,339

1,730,922
1,221,492


The following liabilities were secured:

2022
2021
£
£



Proceeds of factored debts
227,162
314,251

227,162
314,251

Details of security provided:

Barclays Bank PLC have a fixed and floating charge over the book debts and assets of the company in relation to their debt factoring account arrangement.


8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
-
234,375

-
234,375


Page 8

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Other loans
-
178,125


-
178,125

Amounts falling due 1-2 years

Other loans
-
125,000


-
125,000

Amounts falling due 2-5 years

Other loans
-
109,375


-
109,375


-
412,500


All outstanding loans were repaid during the year, with early settlements agreed with the respective lenders of the £150,000 business loan and £250,000 CBILS brought forward. A further loan balance brought forward of £12,500 was repaid through a final instalment payment.

Page 9

 
PRIMARY CARE RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

10.


Deferred taxation




2022


£






At beginning of year
4,578


Charged to profit or loss
255



At end of year
4,833

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
4,833
4,578

4,833
4,578


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £60,471 (2021 - £45,321). Contributions totalling £2,272 (2021 - £2,926) were payable to the fund at the balance sheet date and are included in creditors.


12.


Transactions with directors

Included within other debtors is £802,089 (2021 - £543,282) due from the directors. These amounts are not interest bearing and repayable on demand. During the year the directors received advances from the Company of £468,806 (2021 - £61,101) and repaid amounts of £210,000 (2021 - £250,000).
During the year the company paid dividends of £1,330,605 (2021 - £886,640) to the directors.


13.


Controlling party

The ultimate controlling party is Mr B and Mrs J Wood, by virtue of their combined shareholding in the company.

Page 10