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Company No: 12478861 (England and Wales)

RILEY PERSONNEL LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

RILEY PERSONNEL LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

RILEY PERSONNEL LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
RILEY PERSONNEL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTOR Mr N D Horne
REGISTERED OFFICE The Stansted Centre
Parsonage Road
Takeley
CM22 6PU
United Kingdom
COMPANY NUMBER 12478861 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
66 Prescot Street
London
E1 8NN
United Kingdom
RILEY PERSONNEL LIMITED

BALANCE SHEET

As at 30 April 2023
RILEY PERSONNEL LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 660 821
660 821
Current assets
Debtors 4 289,875 138,024
Cash at bank and in hand 19,080 14,830
308,955 152,854
Creditors: amounts falling due within one year 5 ( 178,895) ( 165,334)
Net current assets/(liabilities) 130,060 (12,480)
Total assets less current liabilities 130,720 (11,659)
Net assets/(liabilities) 130,720 ( 11,659)
Capital and reserves
Called-up share capital 10 10
Profit and loss account 130,710 ( 11,669 )
Total shareholders' funds/(deficit) 130,720 ( 11,659)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Riley Personnel Limited (registered number: 12478861) were approved and authorised for issue by the Director on 12 February 2024. They were signed on its behalf by:

Mr N D Horne
Director
RILEY PERSONNEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
RILEY PERSONNEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Riley Personnel 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 The Stansted Centre, Parsonage Road, Takeley, CM22 6PU, 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 £.

Turnover

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as pert of the cost of stock or fixed assets.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charges as an expense as they fall due.

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 Balance Sheet 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 valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounts to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is estimated to be less than its recoverable amount. The impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment loss are reversed if, and only if, the reasons for the impairment loss have ceased to apply, where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2. Employees

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

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2022 1,061 1,061
Additions 217 217
At 30 April 2023 1,278 1,278
Accumulated depreciation
At 01 May 2022 240 240
Charge for the financial year 378 378
At 30 April 2023 618 618
Net book value
At 30 April 2023 660 660
At 30 April 2022 821 821

4. Debtors

2023 2022
£ £
Trade debtors 289,056 132,722
Amounts owed by Group undertakings 9 0
Other debtors 810 5,302
289,875 138,024

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 19,864
Trade creditors 36,889 21,832
Amounts owed to Group undertakings 0 67,234
Taxation and social security 135,093 52,516
Other creditors 6,913 3,888
178,895 165,334

6. Related party transactions

At the balance sheet date, the company was owed £1 (2022: £1) by the director of the company.