Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31false2022-08-01112105truefalse 05701507 2022-08-01 2023-07-31 05701507 2021-08-01 2022-07-31 05701507 2023-07-31 05701507 2022-07-31 05701507 2021-08-01 05701507 1 2022-08-01 2023-07-31 05701507 1 2021-08-01 2022-07-31 05701507 5 2022-08-01 2023-07-31 05701507 5 2021-08-01 2022-07-31 05701507 6 2022-08-01 2023-07-31 05701507 6 2021-08-01 2022-07-31 05701507 d:Director1 2022-08-01 2023-07-31 05701507 d:Director2 2022-08-01 2023-07-31 05701507 d:RegisteredOffice 2022-08-01 2023-07-31 05701507 e:Buildings e:ShortLeaseholdAssets 2022-08-01 2023-07-31 05701507 e:Buildings e:ShortLeaseholdAssets 2023-07-31 05701507 e:Buildings e:ShortLeaseholdAssets 2022-07-31 05701507 e:FurnitureFittings 2022-08-01 2023-07-31 05701507 e:FurnitureFittings 2023-07-31 05701507 e:FurnitureFittings 2022-07-31 05701507 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05701507 e:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05701507 e:CurrentFinancialInstruments 2023-07-31 05701507 e:CurrentFinancialInstruments 2022-07-31 05701507 e:Non-currentFinancialInstruments 2023-07-31 05701507 e:Non-currentFinancialInstruments 2022-07-31 05701507 e:CurrentFinancialInstruments e:WithinOneYear 2023-07-31 05701507 e:CurrentFinancialInstruments e:WithinOneYear 2022-07-31 05701507 e:Non-currentFinancialInstruments e:AfterOneYear 2023-07-31 05701507 e:Non-currentFinancialInstruments e:AfterOneYear 2022-07-31 05701507 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-07-31 05701507 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-07-31 05701507 e:ReportableOperatingSegment1 2022-08-01 2023-07-31 05701507 e:ReportableOperatingSegment1 2021-08-01 2022-07-31 05701507 e:UKTax 2022-08-01 2023-07-31 05701507 e:UKTax 2021-08-01 2022-07-31 05701507 e:ShareCapital 2023-07-31 05701507 e:ShareCapital 2022-07-31 05701507 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 05701507 e:RetainedEarningsAccumulatedLosses 2023-07-31 05701507 e:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 05701507 e:RetainedEarningsAccumulatedLosses 2022-07-31 05701507 e:RetainedEarningsAccumulatedLosses 2021-08-01 05701507 d:OrdinaryShareClass1 2022-08-01 2023-07-31 05701507 d:OrdinaryShareClass1 2022-07-31 05701507 d:OrdinaryShareClass2 2022-08-01 2023-07-31 05701507 d:OrdinaryShareClass2 2023-07-31 05701507 d:FRS102 2022-08-01 2023-07-31 05701507 d:Audited 2022-08-01 2023-07-31 05701507 d:FullAccounts 2022-08-01 2023-07-31 05701507 d:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05701507 e:WithinOneYear 2023-07-31 05701507 e:WithinOneYear 2022-07-31 05701507 e:BetweenOneFiveYears 2023-07-31 05701507 e:BetweenOneFiveYears 2022-07-31 05701507 2 2022-08-01 2023-07-31 05701507 e:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05701507 e:AcceleratedTaxDepreciationDeferredTax 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 05701507







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023


BLUEPRINT RECRUITMENT SOLUTIONS LTD






































img5a5e.png                        

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
COMPANY INFORMATION


Directors
Mr M Butter 
Mr P J Raine 




Registered number
05701507



Registered office
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Trading Address
Faretec
Carnac Court

Cams Hall Estate

Fareham

Hampshire

PO16 8UY






Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 



CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditor's Report
5 - 8
Statement of Income and Retained Earnings
9
Statement of Financial Position
10
Statement of Cash Flows
11
Analysis of Net Debt
12
Notes to the Financial Statements
13 - 24


 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

Business review
 
The principal activity of the company is that of a recruitment agency.
The results of the company, as set out on page 9, show an operating profit of £2,284,906 (2022: £2,021,260). The shareholder funds, as shown in the statement of financial position, total £5,291,442 (2022: £3,583,616).
During the financial year, the company has made increasing profit margins a prime focus, resulting in an increased profit margin for 2022/23 and forecasting this to continue increasing throughout 23/24. Temp growth has seen an increase of 7.9% over the period which, supported with the increase in profit margin, puts us in a strong position for the coming year.
The company continues to review overheads and make efficiencies wherever possible whilst ensuring a continued high quality of service. 
We continue to invest in the people within the company, bringing in new members of staff to help reach our forecast growth and continue to push forward with training for current staff through both in-house experts and outside professional bodies.

Principal risks and uncertainties
 
The principal risks of the business are economic changes in our market sectors, competition from other agencies and the generally economic situation facing the country. 
The directors regularly review the risks and uncertainties faced by the business and implement systems and processes to minimise these.

Going concern
The Directors regularly review company performance vs. KPI’s, budget and forecasts as well as market competition. The growth that has been seen and is forecast to continue, along with strong readily available finances and a widely spread client base, means the Directors consider that the company has sufficient resources to continue in operational existence for that time.
For this reason, the Directors continue to adopt the going concern basis of accounting in preparing these annual financial statements.
 

Financial key performance indicators
 
The directors consider turnover, net fee income and gross profit margin to be the key performance indicators when analysing business performance. 

      2023
      2022
     Movement

Turnover

£48,054,462

£41,619,886

£6,434,576
 

Net Fee Income

£4,738,845

£4,082,075

£656,770
 

Gross Margin

9.86%

9.80%

0.06%
 




 


Page 1

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023


This report was approved by the board and signed on its behalf.



Mr M Butter
Director

Date: 6 February 2024

Page 2

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Principal activity

The principal activity of the company continued to be that of a recruitment agency. 

Results and dividends

The profit for the year, after taxation, amounted to £1,788,626 (2022 - £1,662,969).

Particulars of dividends paid are detailed in the notes to the financial statements.

Directors

The directors who served during the year were:

Mr M Butter 
Mr P J Raine 

Future developments

The directors will continue to focus on the growth of the business, whilst ensuring they maintain a high quality of service.

Research and development activities

During the year, the company continued to invest in its own IP, particularly in the customer relationship management system.

Page 3

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023

Matters covered in the Strategic Report

The company has chosen in accordance with Section 414C(11) of the Companies Act 2006 (Strategic Report and
Directors' Report) Regulations 2013 to set out within the company's Strategic Report the Company's Strategic Report
Information Required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports)
Regulation 2008. This includes information that would have been included in the business review and details of the
principal risks and uncertainties.
The directors are aware of the matters set out in section 172(1)(a) to (f) (duty to promote the success of the company) when performing their duties and do so appropriately.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

Under section 487(2) of the Companies Act 2006Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





Mr M Butter
Director

Date: 6 February 2024

Page 4

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLUEPRINT RECRUITMENT SOLUTIONS LTD

Opinion


We have audited the financial statements of Blueprint Recruitment Solutions Ltd (the 'Company') for the year ended 31 July 2023, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 July 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 5

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLUEPRINT RECRUITMENT SOLUTIONS LTD (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLUEPRINT RECRUITMENT SOLUTIONS LTD (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, and general regulations such as health and safety and general data protection regulation. There are no industry specific laws and regulations which would be deemed to have a significant impact on the financial statements.  We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area. 

We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

°Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
°Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
°Challenging assumptions and judgments made by management in its significant accounting estimates; and
°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: 

°Posting of unusual journals and complex transactions;
°Misappropriation of funds through fraudulent supplier ledger and payroll activity; and 
°Manipulation of amounts subject to significant judgement or estimate. 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Page 7

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BLUEPRINT RECRUITMENT SOLUTIONS LTD (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Andrew Galliers FCA (Senior Statutory Auditor)
  
for and on behalf of
Menzies LLP
 
Chartered Accountants
Statutory Auditor
  
3000a Parkway
Whiteley
Hampshire
PO15 7FX

6 February 2024
Page 8

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
Note
£
£

  

Turnover
 4 
48,054,462
41,619,886

Cost of sales
  
(43,315,617)
(37,537,811)

Gross profit
  
4,738,845
4,082,075

Administrative expenses
  
(2,453,939)
(2,060,815)

Operating profit
  
2,284,906
2,021,260

Interest receivable and similar income
 8 
4,858
81

Interest payable and similar expenses
 9 
(24,104)
(16,022)

Profit before tax
  
2,265,660
2,005,319

Tax on profit
 10 
(477,034)
(342,350)

Profit after tax
  
1,788,626
1,662,969

  

  

Retained earnings at the beginning of the year
  
3,583,516
2,960,947

  
3,583,516
2,960,947

Profit for the year
  
1,788,626
1,662,969

Dividends declared and paid
  
(80,800)
(1,040,400)

Retained earnings at the end of the year
  
5,291,342
3,583,516
The notes on pages 13 to 24 form part of these financial statements.

Page 9

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
REGISTERED NUMBER:05701507



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 13 
89,539
109,182

  
89,539
109,182

Current assets
  

Debtors: amounts falling due within one year
 14 
7,241,734
5,828,503

Cash at bank and in hand
  
3,677,045
3,201,595

  
10,918,779
9,030,098

Creditors: amounts falling due within one year
 15 
(5,698,546)
(4,971,481)

Net current assets
  
 
 
5,220,233
 
 
4,058,617

Total assets less current liabilities
  
5,309,772
4,167,799

Creditors: amounts falling due after more than one year
 16 
-
(562,500)

Provisions for liabilities
  

Deferred tax
 18 
(18,330)
(21,683)

  
 
 
(18,330)
 
 
(21,683)

Net assets
  
5,291,442
3,583,616


Capital and reserves
  

Called up share capital 
 19 
100
100

Profit and loss account
 20 
5,291,342
3,583,516

  
5,291,442
3,583,616


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






Mr M Butter
Director

Date: 6 February 2024

The notes on pages 13 to 24 form part of these financial statements.

Page 10

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 



STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
1,788,626
1,662,969

Adjustments for:

Depreciation of tangible assets
25,382
12,475

Interest paid
24,104
16,022

Interest received
(4,858)
(81)

Taxation charge
477,034
342,350

(Increase)/decrease in debtors
(1,413,230)
399,826

Increase/(decrease) in creditors
875,259
(237,728)

Corporation tax (paid)
(378,581)
(474,443)

Net cash generated from operating activities

1,393,736
1,721,390


Cash flows from investing activities

Purchase of tangible fixed assets
(5,740)
(75,468)

Interest received
4,858
81

Net cash from investing activities

(882)
(75,387)

Cash flows from financing activities

Repayment of loans
(812,500)
(187,500)

Dividends paid
(80,800)
(1,040,400)

Interest paid
(24,104)
(16,022)

Net cash used in financing activities
(917,404)
(1,243,922)

Net increase in cash and cash equivalents
475,450
402,081

Cash and cash equivalents at beginning of year
3,201,595
2,799,514

Cash and cash equivalents at the end of year
3,677,045
3,201,595


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,677,045
3,201,595

3,677,045
3,201,595


The notes on pages 13 to 24 form part of these financial statements.

Page 11

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 



ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 JULY 2023




At 1 August 2022
Cash flows
At 31 July 2023
£

£

£

Cash at bank and in hand

3,201,595

475,450

3,677,045

Debt due after 1 year

(562,500)

562,500

-

Debt due within 1 year

(250,000)

250,000

-


2,389,095
1,287,950
3,677,045

The notes on pages 13 to 24 form part of these financial statements.

Page 12

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Blueprint Recruitment Solutions Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office and principal place of business can be found on the Company Information page.
The Company's functional and presentational currency is GBP and is rounded to the nearest £.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

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

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 13

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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.

 
2.9

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.

Page 14

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

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 and reducing balance methods.

Depreciation is provided on the following basis:

Short-term leasehold property
-
25%
straight line
Fixtures and fittings
-
25%
straight line on furnishings, reducing balance on IT equipment.

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.

Page 15

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

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.

 
2.12

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The estimates included in the financial statements do not give rise to any material adjustments.


4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Recruitment services
48,054,462
41,619,886

48,054,462
41,619,886


All turnover arose within the United Kingdom.

Page 16

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2023
2022
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
11,230
9,450

Non-audit fees
10,515
13,880

6.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
1,526,581
1,326,762

Social security costs
181,046
148,115

Cost of defined contribution scheme
26,164
22,444

1,733,791
1,497,321


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Management
8
8



Administrative
7
4



IT
3
1



Consultants
17
17



PAYE Contractors
77
75

112
105


7.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
21,331
21,844

21,331
21,844


Page 17

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Interest receivable

2023
2022
£
£


Other interest receivable
4,858
81

4,858
81


9.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
24,104
16,022

24,104
16,022


10.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
480,387
330,424

Adjustments in respect of previous periods
-
(137)


480,387
330,287


Total current tax
480,387
330,287

Deferred tax


Origination and reversal of timing differences
(3,353)
12,063

Total deferred tax
(3,353)
12,063


Taxation on profit on ordinary activities
477,034
342,350
Page 18

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - lower than) the standard rate of corporation tax in the UK of 25% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
2,265,660
2,005,319


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 21.01% (2022 - 19%)
475,913
381,011

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,279
3,847

Adjustments to tax charge in respect of prior periods
-
(137)

Other timing differences leading to an increase (decrease) in taxation
378
(3,446)

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
-
(41,820)

Changes in tax rates
(536)
2,895

Total tax charge for the year
477,034
342,350


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
11.

Research and development expense

Research and development expenditure incurred and recognised as an expense during the year relates to employee time spent on research activities and amounted to £nil (2022: £169,313). 


12.


Dividends

2023
2022
£
£


Dividends paid
80,800
1,040,400

80,800
1,040,400


13.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 August 2022
98,949
175,868
274,817


Additions
-
5,737
5,737



At 31 July 2023

98,949
181,605
280,554



Depreciation


At 1 August 2022
38,209
127,426
165,635


Charge for the year on owned assets
10,887
14,493
25,380



At 31 July 2023

49,096
141,919
191,015



Net book value



At 31 July 2023
49,853
39,686
89,539



At 31 July 2022
60,740
48,442
109,182

Page 20

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

14.


Debtors

2023
2022
£
£


Trade debtors
5,674,181
4,655,398

Other debtors
19,385
33,295

Prepayments and accrued income
1,548,168
1,139,810

7,241,734
5,828,503



15.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
250,000

Trade creditors
130,067
48,463

Corporation tax
247,160
145,354

Other taxation and social security
520,430
394,087

Other creditors
3,362,938
3,126,442

Accruals and deferred income
1,437,951
1,007,135

5,698,546
4,971,481



16.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
562,500

-
562,500


Page 21

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

17.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
250,000


-
250,000

Amounts falling due 1-2 years

Bank loans
-
562,500


-
562,500



-
812,500


The bank loan of £0 (2022: £812,500) is secured by way of fixed and floating charges over the company's assets.


18.


Deferred taxation




2023


£






At beginning of year
(21,683)


Charged to profit or loss
3,353



At end of year
(18,330)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
18,330
21,683

18,330
21,683

Page 22

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

19.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



0 (2022 - 100) Ordinary shares of £1.0000 each
-
100
1,000,000 (2022 - 0) Ordinary shares of £0.0001 each
100
-

100

100

Each Ordinary share has equal voting and dividend rights.
During the year there was a sub-division of shares, being the reason for the change above.



20.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.


21.


Share-based payments

The Company has a set up a share option scheme in the year to incentivise employees. 
Employees of the Company are eligible for the scheme providing they work at least 25 hours a week for the Company or work 75% of their time for the Company. 
During the year, 74,490 share options were granted with a weighted average exercise price of £1.77. No share options were forfeited, exercised or expired during the year and at year end 74,490 were outstanding.
In the opinion of the Directors, the value of share options is immaterial to the accounts and no expense has been recognised in relation to this. 
The Company did not enter into any share-based payment transactions with parties other than employees.


22.


Pension commitments

As at the balance sheet date, amounts accrued as due to the defined contribution scheme and included in other creditors above were £7,099 (2023: £6,228). 

Page 23

 


BLUEPRINT RECRUITMENT SOLUTIONS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

23.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
95,243
87,306

Later than 1 year and not later than 5 years
182,549
-

277,792
87,306

During the year £92,179 (2022: £91,255) was recognised as an expense relating to operating leases.

 
Page 24