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COMPANY REGISTRATION NUMBER: 09984932
Eaton Recruitment Limited
Unaudited Financial Statements
31 January 2023
Eaton Recruitment Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Director's report
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
Eaton Recruitment Limited
Director's Report
Year ended 31 January 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 January 2023 .
Director
The director who served the company during the year was as follows:
Mr D McCourt
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 July 2023 and signed on behalf of the board by:
Mr D McCourt
Director
Registered office:
308 London Road
Hazel Grove
Stockport
Cheshire
SK3 4RF
Eaton Recruitment Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Eaton Recruitment Limited
Year ended 31 January 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 January 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
GORT AND MARCH Chartered accountants
308 London Road Hazel Grove Stockport Cheshire SK7 4RF
13 July 2023
Eaton Recruitment Limited
Statement of Income and Retained Earnings
Year ended 31 January 2023
2023
2022
Note
£
£
Turnover
104,906
76,060
Cost of sales
15,709
---------
--------
Gross profit
104,906
60,351
Administrative expenses
47,643
53,571
Other operating income
9,764
---------
--------
Operating profit
67,027
6,780
Interest payable and similar expenses
5,547
3,408
---------
--------
Profit before taxation
5
61,480
3,372
Tax on profit
11,681
813
--------
-------
Profit for the financial year and total comprehensive income
49,799
2,559
--------
-------
Dividends paid and payable
( 1,300)
Retained earnings at the start of the year
34,336
31,777
--------
--------
Retained earnings at the end of the year
82,835
34,336
--------
--------
All the activities of the company are from continuing operations.
Eaton Recruitment Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
250,000
250,000
Current assets
Debtors
7
6,900
Cash at bank and in hand
57,414
25,832
--------
--------
57,414
32,732
Creditors: amounts falling due within one year
8
25,377
33,064
--------
--------
Net current assets/(liabilities)
32,037
( 332)
---------
---------
Total assets less current liabilities
282,037
249,668
Creditors: amounts falling due after more than one year
9
78,683
94,813
---------
---------
Net assets
203,354
154,855
---------
---------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
120,518
120,518
Profit and loss account
82,835
34,336
---------
---------
Shareholder funds
203,354
154,855
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eaton Recruitment Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 13 July 2023 , and are signed on behalf of the board by:
Mr D McCourt
Director
Company registration number: 09984932
Eaton Recruitment Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 308 London Road, Hazel Grove, Stockport, Cheshire, SK3 4RF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
876
----
----
6. Tangible assets
Freehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
250,000
795
3,807
254,602
---------
----
-------
---------
Depreciation
At 1 February 2022 and 31 January 2023
795
3,807
4,602
---------
----
-------
---------
Carrying amount
At 31 January 2023
250,000
250,000
---------
----
-------
---------
At 31 January 2022
250,000
250,000
---------
----
-------
---------
For the period ending 31st January 2023 the director has valued the property using similar property valuations in the area.
7. Debtors
2023
2022
£
£
Trade debtors
6,900
----
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
11,682
813
Social security and other taxes
13,363
3,203
Other creditors
332
29,048
--------
--------
25,377
33,064
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
78,683
94,813
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr D McCourt
( 28,776)
28,725
( 51)
--------
--------
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr D McCourt
12,036
( 40,812)
( 28,776)
--------
--------
--------