REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 DECEMBER 2021 TO 31 DECEMBER 2022 |
FOR |
NORD RECRUIT LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Other changes in directors holding office are as follows: |
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: |
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. |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
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 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
124,840 | 704,183 |
Other operating income |
OPERATING PROFIT |
Interest receivable and similar income |
126,303 | 704,183 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL PERIOD |
NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the director and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer |
At 31 December 2022 |
DEPRECIATION |
At 31 December 2021 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
Reclassification/transfer |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 30 December 2021 |
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 |
Disposals | ( |
) |
At 31 December 2022 |
DEPRECIATION |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 30 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
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) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 31 December 2021 |
Provided during period | ( |
) |
Balance at 31 December 2022 |
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. |