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Registration number: 08347585

Resource Recruitment Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Resource Recruitment Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Resource Recruitment Management Limited

Company Information

Directors

ST Cowan

J Cowan

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus
Chartered Accountants
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Resource Recruitment Management Limited

(Registration number: 08347585)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,417

7,739

Current assets

 

Debtors

5

229,630

220,302

Cash at bank and in hand

 

208,468

187,885

 

438,098

408,187

Creditors: Amounts falling due within one year

6

(119,403)

(106,611)

Net current assets

 

318,695

301,576

Total assets less current liabilities

 

325,112

309,315

Creditors: Amounts falling due after more than one year

6

(15,725)

(23,333)

Net assets

 

309,387

285,982

Capital and reserves

 

Called up share capital

102

102

Retained earnings

309,285

285,880

Shareholders' funds

 

309,387

285,982

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Resource Recruitment Management Limited

(Registration number: 08347585)
Balance Sheet as at 31 January 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

ST Cowan
Director

   
     
 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

These financial statements were authorised for issue by the Board on 12 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 revenue when:
The amount of revenue 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.

 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 26).

 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

10,672

13,333

24,005

Additions

829

-

829

At 31 January 2024

11,501

13,333

24,834

Depreciation

At 1 February 2023

8,558

7,708

16,266

Charge for the year

745

1,406

2,151

At 31 January 2024

9,303

9,114

18,417

Carrying amount

At 31 January 2024

2,198

4,219

6,417

At 31 January 2023

2,114

5,625

7,739

5

Debtors

2024
£

2023
£

Trade debtors

71,496

49,795

Other debtors

133,917

158,166

Prepayments

6,333

3,984

Accrued income

17,884

8,357

229,630

220,302

 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

11,794

10,000

Trade creditors

 

4,483

6,611

Taxation and social security

 

83,653

77,406

Accruals and deferred income

 

16,844

10,165

Other creditors

 

2,629

2,429

 

119,403

106,611

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

15,725

23,333

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,725

23,333

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,794

10,000

 

Resource Recruitment Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

ST Cowan

Directors loan

123,150

2,455

(26,223)

99,382

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

ST Cowan

Directors loan

-

125,000

(1,850)

123,150