Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseNo description of principal activity118135truetrue 06758952 2022-10-01 2023-09-30 06758952 2021-10-01 2022-09-30 06758952 2023-09-30 06758952 2022-09-30 06758952 c:CompanySecretary1 2022-10-01 2023-09-30 06758952 c:Director1 2022-10-01 2023-09-30 06758952 c:RegisteredOffice 2022-10-01 2023-09-30 06758952 d:FurnitureFittings 2022-10-01 2023-09-30 06758952 d:FurnitureFittings 2023-09-30 06758952 d:FurnitureFittings 2022-09-30 06758952 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06758952 d:OfficeEquipment 2022-10-01 2023-09-30 06758952 d:OfficeEquipment 2023-09-30 06758952 d:OfficeEquipment 2022-09-30 06758952 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06758952 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06758952 d:CurrentFinancialInstruments 2023-09-30 06758952 d:CurrentFinancialInstruments 2022-09-30 06758952 d:Non-currentFinancialInstruments 2023-09-30 06758952 d:Non-currentFinancialInstruments 2022-09-30 06758952 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 06758952 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 06758952 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 06758952 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 06758952 d:ShareCapital 2023-09-30 06758952 d:ShareCapital 2022-09-30 06758952 d:SharePremium 2023-09-30 06758952 d:SharePremium 2022-09-30 06758952 d:RetainedEarningsAccumulatedLosses 2023-09-30 06758952 d:RetainedEarningsAccumulatedLosses 2022-09-30 06758952 c:FRS102 2022-10-01 2023-09-30 06758952 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 06758952 c:FullAccounts 2022-10-01 2023-09-30 06758952 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Company registration number: 06758952







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023


V3 RECRUITMENT LIMITED






































img7a4f.png                        

 


V3 RECRUITMENT LIMITED
 


 
COMPANY INFORMATION


Director
Mr A L Edyvane 




Company secretary
Mrs N Edyvane



Registered number
06758952



Registered office
1 Sovereign Gate
308-314 Commercial Road

Portsmouth

PO1 4BL




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


V3 RECRUITMENT LIMITED
REGISTERED NUMBER:06758952



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,389
6,854

  
19,389
6,854

Current assets
  

Debtors: amounts falling due within one year
 5 
561,519
865,310

Cash at bank and in hand
  
89,493
103,238

  
651,012
968,548

Creditors: amounts falling due within one year
 6 
(571,688)
(881,508)

Net current assets
  
 
 
79,324
 
 
87,040

Total assets less current liabilities
  
98,713
93,894

Creditors: amounts falling due after more than one year
 7 
(17,365)
(27,442)

Provisions for liabilities
  

Deferred tax
  
(262)
(1,400)

  
 
 
(262)
 
 
(1,400)

Net assets
  
81,086
65,052

Page 1

 


V3 RECRUITMENT LIMITED
REGISTERED NUMBER:06758952


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
490
490

Profit and loss account
  
80,496
64,462

  
81,086
65,052


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr A L Edyvane
Director

Date: 27 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

V3 Recruitment Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method/ reducing balance.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the
Page 5

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 118 (2022 - 135).

Page 6

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
43,829
153,650
197,479


Additions
14,180
1,253
15,433



At 30 September 2023

58,009
154,903
212,912



Depreciation


At 1 October 2022
39,025
151,600
190,625


Charge for the year on owned assets
1,921
977
2,898



At 30 September 2023

40,946
152,577
193,523



Net book value



At 30 September 2023
17,063
2,326
19,389



At 30 September 2022
4,804
2,050
6,854


5.


Debtors

2023
2022
£
£


Trade debtors
557,232
810,940

Other debtors
2,042
50,494

Prepayments and accrued income
2,245
3,876

561,519
865,310


Page 7

 


V3 RECRUITMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,077
9,829

Other loans
203,342
518,527

Trade creditors
13,853
3,236

Corporation tax
117,040
91,400

Other taxation and social security
190,254
223,012

Other creditors
33,972
32,504

Accruals and deferred income
3,150
3,000

571,688
881,508



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
17,365
27,442

17,365
27,442


 
Page 8