Silverfin false false 31/07/2023 01/08/2022 31/07/2023 F A M Kenny 01/03/2022 L M McQuade 01/03/2022 K J Sadler 01/03/2022 M Stevenson 21/09/2022 18/03/2015 S M C Tumelty 18/03/2015 27 November 2023 The principal activity of the Company during the financial year was that of provision of HR services. 09495824 2023-07-31 09495824 bus:Director1 2023-07-31 09495824 bus:Director2 2023-07-31 09495824 bus:Director3 2023-07-31 09495824 bus:Director4 2023-07-31 09495824 bus:Director5 2023-07-31 09495824 core:CurrentFinancialInstruments 2023-07-31 09495824 core:CurrentFinancialInstruments 2022-07-31 09495824 2022-07-31 09495824 core:ShareCapital 2023-07-31 09495824 core:ShareCapital 2022-07-31 09495824 core:RetainedEarningsAccumulatedLosses 2023-07-31 09495824 core:RetainedEarningsAccumulatedLosses 2022-07-31 09495824 bus:OrdinaryShareClass1 2023-07-31 09495824 2022-08-01 2023-07-31 09495824 bus:FilletedAccounts 2022-08-01 2023-07-31 09495824 bus:SmallEntities 2022-08-01 2023-07-31 09495824 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09495824 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09495824 bus:Director1 2022-08-01 2023-07-31 09495824 bus:Director2 2022-08-01 2023-07-31 09495824 bus:Director3 2022-08-01 2023-07-31 09495824 bus:Director4 2022-08-01 2023-07-31 09495824 bus:Director5 2022-08-01 2023-07-31 09495824 2021-08-01 2022-07-31 09495824 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 09495824 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09495824 (England and Wales)

THE HR DEPT (TERRITORIES) LIMITED

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

THE HR DEPT (TERRITORIES) LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

THE HR DEPT (TERRITORIES) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
THE HR DEPT (TERRITORIES) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
2023 2022
£ £
Current assets
Debtors 3 538,053 359,475
Cash at bank and in hand 13,870 81,102
551,923 440,577
Creditors: amounts falling due within one year 4 ( 315,272) ( 314,311)
Net current assets 236,651 126,266
Total assets less current liabilities 236,651 126,266
Net assets 236,651 126,266
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 236,551 126,166
Total shareholder's funds 236,651 126,266

For the financial year ending 31 July 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 The HR Dept (Territories) Limited (registered number: 09495824) were approved and authorised for issue by the Director on 27 November 2023. They were signed on its behalf by:

K J Sadler
Director
THE HR DEPT (TERRITORIES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
THE HR DEPT (TERRITORIES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

The HR Dept (Territories) 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 3 Brook Office Park, Emersons Green, Bristol, BS16 7FL, 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

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 3

3. Debtors

2023 2022
£ £
Trade debtors 48,052 60,608
Amounts owed by Group undertakings 490,001 298,767
Other debtors 0 100
538,053 359,475

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 239
Amounts owed to Group undertakings 276,495 276,595
Accruals 2,558 848
Taxation and social security 36,219 36,629
315,272 314,311

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.