Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30392022-07-01falseNo description of principal activity32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05470428 2022-07-01 2023-06-30 05470428 2021-07-01 2022-06-30 05470428 2023-06-30 05470428 2022-06-30 05470428 c:Director1 2022-07-01 2023-06-30 05470428 d:Buildings 2022-07-01 2023-06-30 05470428 d:Buildings 2023-06-30 05470428 d:Buildings 2022-06-30 05470428 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05470428 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 05470428 d:FurnitureFittings 2022-07-01 2023-06-30 05470428 d:ComputerEquipment 2022-07-01 2023-06-30 05470428 d:ComputerEquipment 2023-06-30 05470428 d:ComputerEquipment 2022-06-30 05470428 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05470428 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05470428 d:CurrentFinancialInstruments 2023-06-30 05470428 d:CurrentFinancialInstruments 2022-06-30 05470428 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05470428 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05470428 d:ShareCapital 2023-06-30 05470428 d:ShareCapital 2022-06-30 05470428 d:RetainedEarningsAccumulatedLosses 2023-06-30 05470428 d:RetainedEarningsAccumulatedLosses 2022-06-30 05470428 c:FRS102 2022-07-01 2023-06-30 05470428 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05470428 c:FullAccounts 2022-07-01 2023-06-30 05470428 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05470428 2 2022-07-01 2023-06-30 05470428 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 05470428









CORECRUITMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
CORECRUITMENT LIMITED
REGISTERED NUMBER: 05470428

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
26,489
32,369

Investments
 6 
2
2

  
26,491
32,371

Current assets
  

Debtors: amounts falling due within one year
 7 
3,647,434
2,330,661

Cash at bank and in hand
  
731,989
952,104

  
4,379,423
3,282,765

Creditors: amounts falling due within one year
 8 
(1,389,393)
(1,109,551)

Net current assets
  
 
 
2,990,030
 
 
2,173,214

Net assets
  
3,016,521
2,205,585


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,016,421
2,205,485

  
3,016,521
2,205,585


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 March 2024.


D K Wheeldon-Doyle
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
CORECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Corecruitment Limited is a private company limited by shares and is registered in England & Wales. The addess of its principal place of business is 8 Nile Street, London, N1 7RF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents amounts received from the provision of recruitment services in the Hospitality, Leisure, Catering, Retail and Financial Management sectors. Revenue is recognised in the period in which the services provided relates to. 

 
2.3

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Government grants received are recognised as other operating income in the statement of income and retained earnings as the related expenditure is incurred.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

Tax is recognised in the statement of income and retained earnings. 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 income.

Page 2

 
CORECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
Over the life of the lease
Fixtures & fittings
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short term creditors are measured at the transaction price.

 
2.12

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. 

Page 3

 
CORECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. 
Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the current credit rating of the debtor, the ageing profile and historical experience. 


4.


Employees

The average monthly number of employees, including directors, during the year was 39 (2022 - 32).


5.


Tangible fixed assets





Leasehold improvement
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 July 2022
37,912
138,677
176,589


Disposals
-
(128,517)
(128,517)



At 30 June 2023

37,912
10,160
48,072



Depreciation


At 1 July 2022
15,162
129,058
144,220


Charge for the year on owned assets
2,527
3,353
5,880


Disposals
-
(128,517)
(128,517)



At 30 June 2023

17,689
3,894
21,583



Net book value



At 30 June 2023
20,223
6,266
26,489



At 30 June 2022
22,750
9,619
32,369

Page 4

 
CORECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
2



At 30 June 2023
2





7.


Debtors

2023
2022
£
£


Trade debtors
998,669
898,425

Amounts owed by group undertakings
297,166
126,382

Other debtors
2,351,599
1,305,363

Prepayments
-
491

3,647,434
2,330,661



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
247,318
162,582

Amounts owed to group undertakings
105,276
-

Corporation tax
347,094
329,797

Other taxation and social security
369,175
337,507

Other creditors
62,674
39,568

Accruals
257,856
240,097

1,389,393
1,109,551



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £40,371 (2022: £29,841). Contributions totalling £16,250 (2022: £13,674) were payable to the fund at the reporting date and are included in creditors.

Page 5

 
CORECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Related party transactions

The company paid rent of £83,233 (2022: £83,234) during the year to Jaded Panda Limited, a company in which D K Wheeldon-Doyle is a director and shareholder. At the reporting date £1,080,208 (2022: £1,018,069) was due from Jaded Panda Limited. All transactions were carried out at arms length.
At the reporting date, the company was owed £181,202 (2022: £199,468) by its director and received full repayment within 9 months after the reporting period.


11.


Controlling party

The company was under the control of the sole director and shareholder, D K Wheeldon-Doyle.

 
Page 6