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REGISTERED NUMBER: 03640983 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

GRADUATE RECRUITMENT BUREAU LIMITED

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRADUATE RECRUITMENT BUREAU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: C M Cater
D Hawes





SECRETARY: C M Cater





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE





REGISTERED NUMBER: 03640983 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,399 51,278

CURRENT ASSETS
Debtors 5 590,025 809,002
Cash at bank and in hand 2,439,152 2,982,900
3,029,177 3,791,902
CREDITORS
Amounts falling due within one year 6 606,877 968,446
NET CURRENT ASSETS 2,422,300 2,823,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,473,699

2,874,734

CREDITORS
Amounts falling due after more than one
year

7

(360,000

)

(520,022

)

PROVISIONS FOR LIABILITIES 10 (12,400 ) (9,300 )
NET ASSETS 2,101,299 2,345,412

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 2,099,299 2,343,412
SHAREHOLDERS' FUNDS 2,101,299 2,345,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:




C Cater - Director


GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents invoiced sales of recruitment services, stated net of discounts and of value added tax.

Turnover is recognised at the time the candidate commences employment. Provisions are made for the expected cost of meeting obligations where employees do not work for the specified contractual period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over the term of the lease - 15 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Government grants
Government grants in the comparative period are in the form of business interruption payments, covering the bank interest and fees on bank loans approved under Coronavirus Business Interruption Loan Scheme. These were included as other operating income.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
After reviewing the company's forecasts, the directors believe that the company has adequate resources to continue for the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES

The average number of employees during the year was 72 (2022 - 59 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Integral and Computer
improvements features fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 86,373 15,418 53,891 222,287 377,969
Additions - - 3,017 11,520 14,537
At 31 July 2023 86,373 15,418 56,908 233,807 392,506
DEPRECIATION
At 1 August 2022 78,297 15,418 49,014 183,962 326,691
Charge for year 1,242 - 1,673 11,501 14,416
At 31 July 2023 79,539 15,418 50,687 195,463 341,107
NET BOOK VALUE
At 31 July 2023 6,834 - 6,221 38,344 51,399
At 31 July 2022 8,076 - 4,877 38,325 51,278

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 558,281 781,246
Other debtors 4,819 2,452
Prepayments and accrued income 26,925 25,304
590,025 809,002

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 159,174 208,123
Trade creditors 29,079 12,894
Taxation and social security 246,787 554,852
Other creditors 171,837 192,577
606,877 968,446

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 360,000 520,022

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 22,000 22,000
Between one and five years 53,167 75,167
75,167 97,167

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 15,174 80,145

One of the bank loans included in the balance above is secured by a debenture over the assets of the company and by personal guarantees of £150,000 given by each of the directors.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,400 9,300

Deferred
tax
£   
Balance at 1 August 2022 9,300
Accelerated capital allowances 3,100
Balance at 31 July 2023 12,400