Silverfin false false 31/07/2023 01/08/2022 31/07/2023 F A M Kenny 01/02/2022 L M McQuade 01/02/2022 K J Sadler 01/02/2022 S M C Tumelty 14/03/2016 27 November 2023 The principal activity of the Company during the financial year was that of HR services. 10060441 2023-07-31 10060441 bus:Director1 2023-07-31 10060441 bus:Director2 2023-07-31 10060441 bus:Director3 2023-07-31 10060441 bus:Director4 2023-07-31 10060441 core:CurrentFinancialInstruments 2023-07-31 10060441 core:CurrentFinancialInstruments 2022-07-31 10060441 2022-07-31 10060441 core:ShareCapital 2023-07-31 10060441 core:ShareCapital 2022-07-31 10060441 core:CapitalRedemptionReserve 2023-07-31 10060441 core:CapitalRedemptionReserve 2022-07-31 10060441 core:RetainedEarningsAccumulatedLosses 2023-07-31 10060441 core:RetainedEarningsAccumulatedLosses 2022-07-31 10060441 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-07-31 10060441 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2022-07-31 10060441 bus:OrdinaryShareClass1 2023-07-31 10060441 2022-08-01 2023-07-31 10060441 bus:FilletedAccounts 2022-08-01 2023-07-31 10060441 bus:SmallEntities 2022-08-01 2023-07-31 10060441 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10060441 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10060441 bus:Director1 2022-08-01 2023-07-31 10060441 bus:Director2 2022-08-01 2023-07-31 10060441 bus:Director3 2022-08-01 2023-07-31 10060441 bus:Director4 2022-08-01 2023-07-31 10060441 2021-08-01 2022-07-31 10060441 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 10060441 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10060441 (England and Wales)

THE HR DEPT INTERNATIONAL LIMITED

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

THE HR DEPT INTERNATIONAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

THE HR DEPT INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
THE HR DEPT INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
2023 2022
£ £
Current assets
Debtors 3 8,031 103
Cash at bank and in hand 4,647 6,193
12,678 6,296
Creditors: amounts falling due within one year 4 ( 3,282) ( 5,683)
Net current assets 9,396 613
Total assets less current liabilities 9,396 613
Net assets 9,396 613
Capital and reserves
Called-up share capital 5 100 100
Capital redemption reserve 200 200
Profit and loss account 9,096 313
Total shareholder's funds 9,396 613

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 International Limited (registered number: 10060441) 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 INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
THE HR DEPT INTERNATIONAL 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 International 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 4NT , United Kingdom.

These financial statements are the first financial statements of The HR Dept International Limited prepared in accordance with Financial Reporting Standard 102. The financial statements of The HR Dept International Limited for the year ended (Previous year) were prepared in accordance with FRS 105. Following transition to Financial Reporting Standard 102 there have been no material changes to either recognition, measurement or presentation requirements.

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.

The functional currency of The HR Dept International Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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
£ £
Amounts owed by Group undertakings 7,928 0
VAT recoverable 3 3
Other debtors 100 100
8,031 103

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to fellow subsidiaries 0 3,441
Accruals 1,103 667
Taxation and social security 2,179 1,575
3,282 5,683

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and not yet paid
100 A 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.