2022-08-012023-07-312023-07-31false12101128IDRIVE RECRUITMENT 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IDRIVE RECRUITMENT LTD

Registered Number
12101128
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

IDRIVE RECRUITMENT LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

ANASTASI, Stefan
JENDEN, Megan

Registered Address

953-955 Brighton Road
Purley
CR8 2BQ

Registered Number

12101128 (England and Wales)
IDRIVE RECRUITMENT LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets321,5899,256
21,5899,256
Current assets
Debtors2,314,7391,983,756
Cash at bank and on hand552,941715,489
2,867,6802,699,245
Creditors amounts falling due within one year4(2,498,195)(1,778,059)
Net current assets (liabilities)369,485921,186
Total assets less current liabilities391,074930,442
Provisions for liabilities5(1,633)(1,633)
Net assets389,441928,809
Capital and reserves
Called up share capital100100
Profit and loss account389,341928,709
Shareholders' funds389,441928,809
The financial statements were approved and authorised for issue by the Board of Directors on 2 April 2024, and are signed on its behalf by:
ANASTASI, Stefan
Director
JENDEN, Megan
Director

Registered Company No. 12101128
IDRIVE RECRUITMENT LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20232022
Average number of employees during the year1512
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 2217,50417,504
Additions20,97420,974
At 31 July 2338,47838,478
Depreciation and impairment
At 01 August 228,2488,248
Charge for year8,6418,641
At 31 July 2316,88916,889
Net book value
At 31 July 2321,58921,589
At 31 July 229,2569,256
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,449,4261,016,426
Bank borrowings and overdrafts6,442-
Taxation and social security1,039,996761,633
Other creditors2,331-
Total2,498,1951,778,059
5.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,6331,633
Total1,6331,633