2022-11-012023-10-312023-10-31false11630156PROFOUND RECRUITMENT PARTNERS 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PROFOUND RECRUITMENT PARTNERS LIMITED

Registered Number
11630156
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

PROFOUND RECRUITMENT PARTNERS LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

TOWNSEND, Richard David

Registered Address

Parkhill Studio
Walton Road
Wetherby
LS22 5DZ

Registered Number

11630156 (England and Wales)
PROFOUND RECRUITMENT PARTNERS LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets78911,219
8911,219
Current assets
Debtors3,20624,132
Cash at bank and on hand116,53452,054
119,74076,186
Creditors amounts falling due within one year11(54,639)(49,699)
Net current assets (liabilities)65,10126,487
Total assets less current liabilities65,99227,706
Provisions for liabilities(169)(228)
Net assets65,82327,478
Capital and reserves
Called up share capital200200
Profit and loss account65,62327,278
Shareholders' funds65,82327,478
The financial statements were approved and authorised for issue by the Director on 15 February 2024, and are signed on its behalf by:
TOWNSEND, Richard David
Director
Registered Company No. 11630156
PROFOUND RECRUITMENT PARTNERS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is other activities of employment placement agencies.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The director has reviewed the financial position of the company and they are of the consideration that the company will continue trading as a going concern.
6.Employee information

20232022
Average number of employees during the year22
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 November 222,586
Additions242
At 31 October 232,828
Depreciation and impairment
At 01 November 221,368
Charge for year569
At 31 October 231,936
Net book value
At 31 October 23891
At 31 October 221,219
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
TOWNSEND, Richard David(20,157)57,20756,028(18,978)
(20,157)57,20756,028(18,978)
9.Dividends proposed and payable

2023

2022

££
Dividends Paid39,00039,900
Total39,00039,900
10.Debtors within one year

2023

2022

££
Trade debtors / trade receivables2,40021,840
Prepayments and accrued income8062,292
Total3,20624,132
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables14145
Taxation and social security35,30529,470
Other creditors19,19320,184
Total54,63949,699
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.