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REGISTERED NUMBER: 03531170 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

CLEMENTS TECHNICAL RECRUITMENT LIMITED

CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLEMENTS TECHNICAL RECRUITMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A Clements
Mrs H L Clements
A J Clements
Mrs S L Sayers


SECRETARY: Mrs H L Clements


REGISTERED OFFICE: 7 Falcon Court
Parklands Business Park
Denmead
Hampshire
PO7 6BZ


REGISTERED NUMBER: 03531170 (England and Wales)


SENIOR STATUTORY AUDITOR: Kerry Lawrance FCA


AUDITORS: Compass Accountants Limited
Chartered Accountants and Statutory Auditors
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR


BANKERS: Natwest Bank PLC
130 Commercial Road
Portsmouth
Hampshire
PO1 1EJ

CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,267 11,014
Tangible assets 5 97,444 103,691
103,711 114,705

CURRENT ASSETS
Debtors 6 2,687,145 2,964,280
Cash at bank and in hand 454,010 496,314
3,141,155 3,460,594
CREDITORS
Amounts falling due within one year 7 1,537,351 1,577,265
NET CURRENT ASSETS 1,603,804 1,883,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,707,515

1,998,034

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings 1,707,414 1,997,933
SHAREHOLDERS' FUNDS 1,707,515 1,998,034

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 21st June 2023 and were signed on its behalf by:




A Clements - Director



Mrs H L Clements - Director


CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Clements Technical Recruitment 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.

The accounting policies as disclosed have been applied consistently throughout the current and preceding year.

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

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured. Turnover is shown net of VAT and other sales related taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

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


2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

Invoice discounting
The Company discounts its invoices. A separate presentation has been adopted whereby gross debtors are shown on the balance sheet as an asset and the proceeds from the invoice discounting company are included within creditors as a liability, on the basis that the finance provided is on a recourse basis

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 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.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade debtors and other debtors, trade creditors and other creditors, and accrued expenses. The fair value of these items approximates their carrying value due to their short term nature. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2022
and 31st March 2023 23,740
AMORTISATION
At 1st April 2022 12,726
Charge for year 4,747
At 31st March 2023 17,473
NET BOOK VALUE
At 31st March 2023 6,267
At 31st March 2022 11,014

CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2022 - 236,775 89,154 325,929
Additions 2,738 16,789 - 19,527
Disposals - - (16,116 ) (16,116 )
At 31st March 2023 2,738 253,564 73,038 329,340
DEPRECIATION
At 1st April 2022 - 178,302 43,936 222,238
Charge for year 110 12,804 11,065 23,979
Eliminated on disposal - - (14,321 ) (14,321 )
At 31st March 2023 110 191,106 40,680 231,896
NET BOOK VALUE
At 31st March 2023 2,628 62,458 32,358 97,444
At 31st March 2022 - 58,473 45,218 103,691

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,514,225 2,819,125
Other debtors 172,920 145,155
2,687,145 2,964,280

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 12,333 19,495
Amounts owed to group undertakings 150,600 150,600
Tax 150,734 178,812
Social security and other taxes 222,641 239,675
VAT 494,630 161,453
Other creditors 32,040 34,780
Directors' current accounts 1,248 1,248
Accruals and deferred income 473,125 791,202
1,537,351 1,577,265

The invoice discounting balance is secured by way of a fixed and floating charge over all of the assets of the company dated 21 May 2013.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary £1 1 1
100 B Preference £1 100 100
101 101

CLEMENTS TECHNICAL RECRUITMENT LIMITED (REGISTERED NUMBER: 03531170)

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


8. CALLED UP SHARE CAPITAL - continued

The ordinary shares carry full dividend and capital distribution (including winding up) rights. They do not confer any rights of redemption.

'B' shareholders shall be entitled to receive notice of and to attend the general meeting but are not entitled to vote. 'B' shareholders shall be entitled to varying rates of dividend as declared by the company from time to time. On a winding up or reduction of capital, the assets of the company shall be applied first in repaying the 'B' shares.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kerry Lawrance FCA (Senior Statutory Auditor)
for and on behalf of Compass Accountants Limited