Registered number
09602205
City & Nationwide Recruitment Ltd
Filleted Accounts
31 May 2023
City & Nationwide Recruitment Ltd
Registered number: 09602205
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,465 3,985
Current assets
Debtors 4 335,939 457,238
Cash at bank and in hand 208,667 521,707
544,606 978,945
Creditors: amounts falling due within one year 5 (471,408) (614,021)
Net current assets 73,198 364,924
Total assets less current liabilities 75,663 368,909
Provisions for liabilities (468) (757)
Net assets 75,195 368,152
Capital and reserves
Called up share capital 3 3
Share premium 3 3
Profit and loss account 75,189 368,146
Shareholders' funds 75,195 368,152
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Joanne Susan Wilkinson
Director
Approved by the board on 22 February 2024
City & Nationwide Recruitment Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 25% straight line
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 12,049
At 31 May 2023 12,049
Depreciation
At 1 June 2022 8,064
Charge for the year 1,520
At 31 May 2023 9,584
Net book value
At 31 May 2023 2,465
At 31 May 2022 3,985
4 Debtors 2023 2022
£ £
Trade debtors 333,858 450,528
Other debtors 2,081 6,710
335,939 457,238
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 47,516 82,639
Taxation and social security costs 72,410 157,301
Other creditors 351,482 374,081
471,408 614,021
6 Other information
City & Nationwide Recruitment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Glenside House
West Coppice Road
Walsall
WS8 7HB
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