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Registered Number: 04395159
England and Wales

 

 

 

DRIVEN (RECRUITMENT) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Doyles
31 May 2023



....................................................
Doyles
51 Station Road
Marston Green
Birmingham
B37 7AB
15 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 574    898 
574    898 
Current assets      
Debtors: amounts falling due within one year 461,185    435,722 
Cash at bank and in hand 6,689    85,615 
467,874    521,337 
Creditors: amount falling due within one year (320,504)   (331,778)
Net current assets 147,370    189,559 
 
Total assets less current liabilities 147,944    190,457 
Creditors: amount falling due after more than one year (25,833)   (35,833)
Net assets 122,111    154,624 
 

Capital and reserves
     
Called up share capital 5 1,000    1,000 
Profit and loss account 121,111    153,624 
Shareholder's funds 122,111    154,624 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 15 October 2023 and were signed on its behalf by:


-------------------------------
Gary Mabberley
Director
2
General Information
DRIVEN (RECRUITMENT) LTD is a private company, limited by shares, registered in England and Wales, registration number 04395159, registration address KEYS COURT, 82-84 MOSELEY STREET, BIRMINGHAM, WEST MIDLANDS, B12 0RT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2023   2022
 
Number of directors to whom retirement benefits accrued Number   Number
Defined contribution plans 2    2 

3.

Average number of employees

Average number of employees during the year was 7 (2022 : 8).
4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 June 2022 15,038    3,609    18,647 
Additions    
Disposals (4,158)   (1,505)   (5,663)
At 31 May 2023 10,880    2,104    12,984 
Depreciation
At 01 June 2022 14,140    3,609    17,749 
Charge for year 324      324 
On disposals (4,158)   (1,505)   (5,663)
At 31 May 2023 10,306    2,104    12,410 
Net book values
Closing balance as at 31 May 2023 574      574 
Opening balance as at 01 June 2022 898      898 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Driven Recruitment (UK) Ltd(2,855)52,895 
Driven Support Ltd(2,855)52,895 

Driven Recruitment (UK) Ltd invoiced for management services provided by Mr G Mabberley, who is a 50% Shareholder of Driven Recruitment Ltd. During the year of account the invoices paid by the company amounted to £22145. However, in July 2022 a Credit Note was issued to the company for £25,000 from Driven Recruitment (UK) Ltd
Driven Support Ltd invoiced for management services provided by Mr A Sharples, who is a 50% Shareholder of Driven Recruitment Ltd. During the year of account the invoices paid by the company amounted to £22145. However, a Credit Note was issued to the company in July 2022 for £25,000 from Driven Support Ltd.
7.

Ultimate controlling parties

The ultimate controlling parties are the directors, by virtue of their 100% holding of the companys issued share capital.       
3