Silverfin false 31/03/2023 01/04/2022 31/03/2023 M Ogden 28/11/2008 C Ogden 01/10/2021 06 October 2023 The principal activity of the Company during the financial year was that of recruitment consultancy. 04899439 2023-03-31 04899439 bus:Director1 2023-03-31 04899439 bus:Director2 2023-03-31 04899439 2022-03-31 04899439 core:CurrentFinancialInstruments 2023-03-31 04899439 core:CurrentFinancialInstruments 2022-03-31 04899439 core:ShareCapital 2023-03-31 04899439 core:ShareCapital 2022-03-31 04899439 core:RetainedEarningsAccumulatedLosses 2023-03-31 04899439 core:RetainedEarningsAccumulatedLosses 2022-03-31 04899439 core:FurnitureFittings 2022-03-31 04899439 core:ComputerEquipment 2022-03-31 04899439 core:FurnitureFittings 2023-03-31 04899439 core:ComputerEquipment 2023-03-31 04899439 core:CostValuation 2022-03-31 04899439 core:CostValuation 2023-03-31 04899439 core:ProvisionsForImpairmentInvestments 2022-03-31 04899439 core:ProvisionsForImpairmentInvestments 2023-03-31 04899439 2021-03-31 04899439 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04899439 core:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04899439 bus:OrdinaryShareClass1 2023-03-31 04899439 2022-04-01 2023-03-31 04899439 bus:FullAccounts 2022-04-01 2023-03-31 04899439 bus:SmallEntities 2022-04-01 2023-03-31 04899439 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04899439 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04899439 bus:Director1 2022-04-01 2023-03-31 04899439 bus:Director2 2022-04-01 2023-03-31 04899439 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 04899439 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 04899439 2021-04-01 2022-03-31 04899439 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04899439 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04899439 (England and Wales)

SHINE RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

SHINE RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

SHINE RECRUITMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
SHINE RECRUITMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 100 100
100 100
Current assets
Debtors 5 111,220 139,056
Cash at bank and in hand 0 6,524
111,220 145,580
Creditors: amounts falling due within one year 6 ( 27,805) ( 85,361)
Net current assets 83,415 60,219
Total assets less current liabilities 83,515 60,319
Net assets 83,515 60,319
Capital and reserves
Called-up share capital 8 20,000 20,000
Profit and loss account 63,515 40,319
Total shareholder's funds 83,515 60,319

For the financial year ending 31 March 2023 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 Shine Recruitment Limited (registered number: 04899439) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Ogden
Director

06 October 2023

SHINE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
SHINE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shine Recruitment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2023 the directors made the decision that the Company would cease trading on 24 April 2023. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets 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 creditors: amounts falling due within one year.

Financial instruments

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

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 April 2022 12,797 4,548 17,345
At 31 March 2023 12,797 4,548 17,345
Accumulated depreciation
At 01 April 2022 12,797 4,548 17,345
At 31 March 2023 12,797 4,548 17,345
Net book value
At 31 March 2023 0 0 0
At 31 March 2022 0 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 100
At 31 March 2023 100
Provisions for impairment
At 01 April 2022 100
At 31 March 2023 100
Carrying value at 31 March 2023 0
Carrying value at 31 March 2022 0

5. Debtors

2023 2022
£ £
Trade debtors 8,835 4,023
Amounts owed by Group undertakings 72,267 104,944
Prepayments 2,233 2,526
Deferred tax asset 57 85
Other debtors 27,828 27,478
111,220 139,056

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 1,773 0
Trade creditors 301 8,628
Accruals 7,744 4,906
Taxation and social security 17,374 4,449
Other creditors 613 67,378
27,805 85,361

7. Deferred tax

2023 2022
£ £
At the beginning of financial year 85 85
Charged to the Profit and Loss Account ( 28) 0
At the end of financial year 57 85

The deferred taxation balance is made up as follows:

2023 2022
£ £
Accelerated capital allowances 57 85

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each 20,000 20,000

9. Financial commitments

Other financial commitments

On 6 March 2019 the company, together with Marylebone Recruitment Limited (each "a Chargor"), entered into a debenture in favour of Barclays Bank Plc ("the Bank") to secure all present and future liabilities and obligations of each Chargor to the Bank, whether actual or contingent and whether owed jointly or severally or in any other capacity. The assets of the Chargors in respect of which they granted to the Bank a fixed and floating charge to secure their respective liabilities and obligations.

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 613 422