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REGISTERED NUMBER: 06354327 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

FOUR FINANCIAL RECRUITMENT LIMITED

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOUR FINANCIAL RECRUITMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: P D Sofield
Ms C L Sofield





REGISTERED OFFICE: Lower House Farm Mansell Way
Horwich
Bolton
BL6 6JL





REGISTERED NUMBER: 06354327 (England and Wales)





ACCOUNTANTS: Sedulo Accountants Limited
Chartered Certified Accountants
62-66 Deansgate
Manchester
M3 2EN

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 171,778 197,762
Tangible assets 5 27,329 23,072
199,107 220,834

CURRENT ASSETS
Debtors 6 202,666 373,442
Cash at bank 339,984 307,704
542,650 681,146
CREDITORS
Amounts falling due within one year 7 503,303 582,658
NET CURRENT ASSETS 39,347 98,488
TOTAL ASSETS LESS CURRENT LIABILITIES 238,454 319,322

CREDITORS
Amounts falling due after more than one
year

8

(93,750

)

(200,322

)

PROVISIONS FOR LIABILITIES (41,000 ) (41,000 )
NET ASSETS 103,704 78,000

CAPITAL AND RESERVES
Called up share capital 79 79
Share premium 19,900 19,900
Retained earnings 83,725 58,021
SHAREHOLDERS' FUNDS 103,704 78,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

BALANCE SHEET - continued
31 DECEMBER 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:




Ms C L Sofield - Director



P D Sofield - Director


FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Four Financial Recruitment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Computer equipment - 33% on cost

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of it's financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as nom-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2021 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 January 2022
and 31 December 2022 259,854
AMORTISATION
At 1 January 2022 62,092
Amortisation for year 25,984
At 31 December 2022 88,076
NET BOOK VALUE
At 31 December 2022 171,778
At 31 December 2021 197,762

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2022 53,947 32,992 135,529 222,468
Additions - 1,299 16,514 17,813
At 31 December 2022 53,947 34,291 152,043 240,281
DEPRECIATION
At 1 January 2022 49,227 29,477 120,692 199,396
Charge for year 1,226 1,865 10,465 13,556
At 31 December 2022 50,453 31,342 131,157 212,952
NET BOOK VALUE
At 31 December 2022 3,494 2,949 20,886 27,329
At 31 December 2021 4,720 3,515 14,837 23,072

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Trade debtors 152,386 237,339
Amounts owed by group undertakings 632 632
Other debtors 49,648 135,471
202,666 373,442

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Bank loans and overdrafts 106,572 139,574
Trade creditors 26,855 33,438
Taxation and social security 225,568 224,751
Other creditors 144,308 184,895
503,303 582,658

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Bank loans 93,750 200,322

FOUR FINANCIAL RECRUITMENT LIMITED (REGISTERED NUMBER: 06354327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
as restated
£    £   
Bank loans 200,322 339,896

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors are loans owing from the directors to the company of £nil (2021: £64,735).

Included in other creditors are loans owing to the directors of £nil (2021: (£74,092)). The Loans are repayable within one year.

The loans are interest free and have no fixed repayment terms.

11. RELATED PARTY DISCLOSURES

At the 31 December 2021 the company was owed £632 (2020: £632) from Four Recruitment Limited its ultimate parent undertaking.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Four Recruitment Limited, a company registered in England & Wales, company number 07828275.