Company registration number 06224185 (England and Wales)
ACCOUNTANCY RECRUITMENT WALES LIMITED
Unaudited Financial Statements
for the Year Ended 31 July 2023
ACCOUNTANCY RECRUITMENT WALES LIMITED
Contents
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ACCOUNTANCY RECRUITMENT WALES LIMITED
Company Information
- 1 -
Directors
Mr C F Douglas
Ms S Mountney
Secretary
Mr C F Douglas
Company number
06224185
Registered office
Room R1 Pine Suite
First Floor B, Mamhilad House
Mamhilad Park Estate
Pontypool
Torfaen
NP4 0HZ
Accountants
Mitchell Associates Ltd
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
ACCOUNTANCY RECRUITMENT WALES LIMITED
Balance Sheet
As at 31 July 2023
31 July 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,119
2,248
Current assets
Debtors
4
4,405
72,650
Cash at bank and in hand
82,497
57,320
86,902
129,970
Creditors: amounts falling due within one year
5
(32,261)
(70,431)
Net current assets
54,641
59,539
Total assets less current liabilities
55,760
61,787
Provisions for liabilities
(214)
(428)
Net assets
55,546
61,359
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
55,446
61,259
Total equity
55,546
61,359
ACCOUNTANCY RECRUITMENT WALES LIMITED
Balance Sheet
As at 31 July 2023
31 July 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 March 2024 and are signed on its behalf by:
Mr C F Douglas
Director
Company Registration No. 06224185
ACCOUNTANCY RECRUITMENT WALES LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2023
- 4 -
1
Accounting policies
Company information

Accountancy Recruitment Wales Limited is a private company limited by shares incorporated in England and Wales. The registered office is Room R1 Pine Suite, First Floor B, Mamhilad House, Mamhilad Park Estate, Pontypool, Torfaen, NP4 0HZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises Turnover when:

The amount of Turnover can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
33% on cost

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.

1.4
Impairment of fixed 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.

ACCOUNTANCY RECRUITMENT WALES LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2023
1
Accounting policies
- 5 -

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 discounted 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 reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses 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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

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 at transaction price.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ACCOUNTANCY RECRUITMENT WALES LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2023
1
Accounting policies
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

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

1.9
Leases

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
2
ACCOUNTANCY RECRUITMENT WALES LIMITED
Notes to the Financial Statements
For the Year Ended 31 July 2023
- 7 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 August 2022 and 31 July 2023
2,140
13,521
15,661
Depreciation and impairment
At 1 August 2022
1,961
11,451
13,412
Depreciation charged in the year
52
1,078
1,130
At 31 July 2023
2,013
12,529
14,542
Carrying amount
At 31 July 2023
127
992
1,119
At 31 July 2022
179
2,069
2,248
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,536
19,561
Other debtors
1,869
53,089
4,405
72,650
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,495
6,342
Taxation and social security
20,579
45,963
Other creditors
10,187
18,126
32,261
70,431
2023-07-312022-08-01false13 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMs S MountneyMs S MountneyMr C F Douglasfalse062241852022-08-012023-07-3106224185bus:CompanySecretaryDirector12022-08-012023-07-3106224185bus:Director12022-08-012023-07-3106224185bus:CompanySecretary12022-08-012023-07-3106224185bus:Director22022-08-012023-07-3106224185bus:RegisteredOffice2022-08-012023-07-31062241852023-07-31062241852022-07-3106224185core:FurnitureFittings2023-07-3106224185core:ComputerEquipment2023-07-3106224185core:FurnitureFittings2022-07-3106224185core:ComputerEquipment2022-07-3106224185core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3106224185core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3106224185core:CurrentFinancialInstruments2023-07-3106224185core:CurrentFinancialInstruments2022-07-3106224185core:ShareCapital2023-07-3106224185core:ShareCapital2022-07-3106224185core:RetainedEarningsAccumulatedLosses2023-07-3106224185core:RetainedEarningsAccumulatedLosses2022-07-3106224185core:FurnitureFittings2022-08-012023-07-3106224185core:ComputerEquipment2022-08-012023-07-31062241852021-08-012022-07-3106224185core:FurnitureFittings2022-07-3106224185core:ComputerEquipment2022-07-31062241852022-07-3106224185core:WithinOneYear2023-07-3106224185core:WithinOneYear2022-07-3106224185bus:PrivateLimitedCompanyLtd2022-08-012023-07-3106224185bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-3106224185bus:FRS1022022-08-012023-07-3106224185bus:AuditExemptWithAccountantsReport2022-08-012023-07-3106224185bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP