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REGISTERED NUMBER: 09666880 (England and Wales)










REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2021 TO 31 DECEMBER 2022

FOR

NORD RECRUIT LIMITED

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


NORD RECRUIT LIMITED

COMPANY INFORMATION
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022







DIRECTOR: Mr L S Young





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 09666880 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

REPORT OF THE DIRECTOR
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022

The director presents his report with the financial statements of the company for the period 31 December 2021 to 31 December 2022.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of an employment placement agency.

DIRECTORS
Mr L S Young has held office during the whole of the period from 31 December 2021 to the date of this report.

Other changes in directors holding office are as follows:

Mr R J Poole - resigned 23 September 2022

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr L S Young - Director


25 September 2023

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NORD RECRUIT LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nord Recruit Limited for the period ended 31 December 2022 which comprise the Income Statement, Statement of Financial Position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Nord Recruit Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nord Recruit Limited. You consider that Nord Recruit 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 financial statements of Nord Recruit 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 financial statements.






AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA


25 September 2023

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

INCOME STATEMENT
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022

Period Period
31.12.21 1.8.20
to to
31.12.22 30.12.21
£    £   

REVENUE 2,046,658 2,437,371

Cost of sales 377,268 70,283
GROSS PROFIT 1,669,390 2,367,088

Administrative expenses 1,544,550 1,662,905
124,840 704,183

Other operating income 775 -
OPERATING PROFIT 125,615 704,183

Interest receivable and similar income 688 -
126,303 704,183

Interest payable and similar expenses 19,550 277
PROFIT BEFORE TAXATION 106,753 703,906

Tax on profit 23,205 146,462
PROFIT FOR THE FINANCIAL PERIOD 83,548 557,444

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 145,986 268,368

CURRENT ASSETS
Debtors 5 749,416 328,279
Cash at bank 149,280 639,463
898,696 967,742
CREDITORS
Amounts falling due within one year 6 421,683 536,014
NET CURRENT ASSETS 477,013 431,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

622,999

700,096

CREDITORS
Amounts falling due after more than one
year

7

(60,930

)

(155,775

)

PROVISIONS FOR LIABILITIES 9 (17,300 ) (22,100 )
NET ASSETS 544,769 522,221

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings 544,699 522,151
544,769 522,221

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

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

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 25 September 2023 and were signed by:





Mr L S Young - Director


NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022

1. STATUTORY INFORMATION

Nord Recruit 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are 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 where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Taxation
Taxation for the period 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 statement of financial position date.


NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 31 DECEMBER 2021 TO 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 statement of financial position 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2021 - 10 ) .

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 31 December 2021 117,075 200,135 317,210
Additions 19,831 - 19,831
Disposals - (100,160 ) (100,160 )
Reclassification/transfer - 74,981 74,981
At 31 December 2022 136,906 174,956 311,862
DEPRECIATION
At 31 December 2021 48,842 - 48,842
Charge for period 17,059 50,034 67,093
Eliminated on disposal - (25,040 ) (25,040 )
Reclassification/transfer - 74,981 74,981
At 31 December 2022 65,901 99,975 165,876
NET BOOK VALUE
At 31 December 2022 71,005 74,981 145,986
At 30 December 2021 68,233 200,135 268,368

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 31 December 2021 200,135
Disposals (100,160 )
At 31 December 2022 99,975
DEPRECIATION
Charge for period 50,034
Eliminated on disposal (25,040 )
At 31 December 2022 24,994
NET BOOK VALUE
At 31 December 2022 74,981
At 30 December 2021 200,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 238,168 52,712
Other debtors 511,248 275,567
749,416 328,279

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 31 DECEMBER 2021 TO 31 DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 8) 14,523 25,638
Trade creditors 48,065 20,862
Taxation and social security 224,173 136,405
Other creditors 134,922 353,109
421,683 536,014

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 8) 60,930 155,775

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022 2021
£    £   
Net obligations repayable:
Within one year 14,523 25,638
Between one and five years 60,930 155,775
75,453 181,413

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 17,300 22,100

Deferred
tax
£   
Balance at 31 December 2021 22,100
Provided during period (4,800 )
Balance at 31 December 2022 17,300

10. OTHER FINANCIAL COMMITMENTS

The company has annual commitment of £121,825 under non-cancellable operating leases.

11. RELATED PARTY DISCLOSURES

Included in the other debtors due within one year is an amount of £333,979 (2021: £Nil) due from a connected company with common shareholding.The loan was interest free and recoverable on demand.