Silverfin false false 31/07/2023 01/08/2022 31/07/2023 L M McQuade 01/02/2022 S V Mead 01/02/2022 K J Sadler 01/02/2022 H L Thomas 01/02/2022 S M C Tumelty 18/07/2007 27 November 2023 The principal activity of the Company continued to be the provision of outsourced HR services. 06316590 2023-07-31 06316590 bus:Director1 2023-07-31 06316590 bus:Director2 2023-07-31 06316590 bus:Director3 2023-07-31 06316590 bus:Director4 2023-07-31 06316590 bus:Director5 2023-07-31 06316590 2022-07-31 06316590 core:CurrentFinancialInstruments 2023-07-31 06316590 core:CurrentFinancialInstruments 2022-07-31 06316590 core:ShareCapital 2023-07-31 06316590 core:ShareCapital 2022-07-31 06316590 core:RetainedEarningsAccumulatedLosses 2023-07-31 06316590 core:RetainedEarningsAccumulatedLosses 2022-07-31 06316590 core:PlantMachinery 2022-07-31 06316590 core:FurnitureFittings 2022-07-31 06316590 core:PlantMachinery 2023-07-31 06316590 core:FurnitureFittings 2023-07-31 06316590 core:DeferredTaxation 2023-07-31 06316590 core:DeferredTaxation 2022-07-31 06316590 core:OtherProvisionsContingentLiabilities 2023-07-31 06316590 core:OtherProvisionsContingentLiabilities 2022-07-31 06316590 2021-07-31 06316590 bus:OrdinaryShareClass1 2023-07-31 06316590 core:WithinOneYear 2023-07-31 06316590 core:WithinOneYear 2022-07-31 06316590 core:BetweenOneFiveYears 2023-07-31 06316590 core:BetweenOneFiveYears 2022-07-31 06316590 2022-08-01 2023-07-31 06316590 bus:FilletedAccounts 2022-08-01 2023-07-31 06316590 bus:SmallEntities 2022-08-01 2023-07-31 06316590 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06316590 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06316590 bus:Director1 2022-08-01 2023-07-31 06316590 bus:Director2 2022-08-01 2023-07-31 06316590 bus:Director3 2022-08-01 2023-07-31 06316590 bus:Director4 2022-08-01 2023-07-31 06316590 bus:Director5 2022-08-01 2023-07-31 06316590 core:PlantMachinery core:TopRangeValue 2022-08-01 2023-07-31 06316590 core:FurnitureFittings core:TopRangeValue 2022-08-01 2023-07-31 06316590 2021-08-01 2022-07-31 06316590 core:PlantMachinery 2022-08-01 2023-07-31 06316590 core:FurnitureFittings 2022-08-01 2023-07-31 06316590 core:PlantMachinery 1 2022-08-01 2023-07-31 06316590 core:FurnitureFittings 1 2022-08-01 2023-07-31 06316590 1 2022-08-01 2023-07-31 06316590 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 06316590 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06316590 (England and Wales)

THE HR DEPT BRISTOL LTD

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

THE HR DEPT BRISTOL LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

THE HR DEPT BRISTOL LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
THE HR DEPT BRISTOL LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,370 13,970
7,370 13,970
Current assets
Debtors 4 567,405 365,465
Cash at bank and in hand 97,196 176,650
664,601 542,115
Creditors: amounts falling due within one year 5 ( 111,965) ( 97,324)
Net current assets 552,636 444,791
Total assets less current liabilities 560,006 458,761
Provision for liabilities 6, 7 ( 1,000) ( 1,477)
Net assets 559,006 457,284
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account 558,006 456,284
Total shareholder's funds 559,006 457,284

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 Bristol Ltd (registered number: 06316590) 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 BRISTOL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
THE HR DEPT BRISTOL LTD

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 Bristol Ltd (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, 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

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.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 10

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 August 2022 7,763 17,330 25,093
Additions 428 210 638
Disposals ( 3,432) ( 1,643) ( 5,075)
Other adjustments 0 569 569
At 31 July 2023 4,759 16,466 21,225
Accumulated depreciation
At 01 August 2022 5,688 5,435 11,123
Charge for the financial year 1,527 5,533 7,060
Disposals ( 3,254) ( 1,643) ( 4,897)
Other adjustments 0 569 569
At 31 July 2023 3,961 9,894 13,855
Net book value
At 31 July 2023 798 6,572 7,370
At 31 July 2022 2,075 11,895 13,970

4. Debtors

2023 2022
£ £
Trade debtors 88,803 67,612
Amounts owed by Group undertakings 461,936 283,108
Prepayments 15,666 13,745
Other debtors 1,000 1,000
567,405 365,465

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 25,677 25,126
Amounts owed to Group undertakings 8,300 8,305
Accruals and deferred income 10,638 2,880
Taxation and social security 63,344 59,348
Other creditors 4,006 1,665
111,965 97,324

6. Provision for liabilities

2023 2022
£ £
Deferred tax 0 477
Other provisions 1,000 1,000
1,000 1,477

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 477) ( 1,161)
Credited to the Statement of Income and Retained Earnings 477 684
At the end of financial year 0 ( 477)

8. Called-up share capital

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

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 26,000 26,000
between one and five years 54,183 80,183
80,183 106,183

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,647 1,622

10. 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.

During the year no Land and Buildings were sold to a director of the company (2022: £95,000).