HIREDSCORE LTD |
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Notes to the financial statements - 31 December 2023 |
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COMPANY INFORMATION |
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1. |
Company Information |
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Hiredscore Ltd is a private limited company incorporated and domiciled in England & Wales. The address of its registered office is 37 Broadhurst Gardens, London, NW6 3QT. |
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The company is a wholly owned subsidiary of Hiredscore Inc, a company registered in the USA. |
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2. |
Accounting Policies |
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2.1 |
Basis of accounting |
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The financial statements have been prepared under FRS 102 Section 1A small entities. |
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The financial statements are presented in sterling (£). |
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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2.2 |
Financial instruments |
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The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments: |
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(i) Financial assets |
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Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period. |
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(ii) Financial liabilities |
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Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method. |
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2.3 |
Going Concern |
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The company will cease its trading activities and will become dormant in 2024, therefore the financial statements are not prepared under going concern basis. |
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No changes are required in the amounts and classifications of the assets and liabilities. |
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HIREDSCORE LTD |
Notes to the financial statements - 31 December 2023 |
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2. |
Accounting Policies (Continued) |
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2.4 |
Turnover |
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Turnover represents net invoiced services, excluding VAT. |
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2.5 |
Revenue recognition |
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Revenue is measured at the fair value of the consideration received or receivable and represents the amounts receivable for services rendered during the year. |
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2.6 |
Debtors |
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Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment. |
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2.7 |
Creditors |
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Basic financial liabilities including trade and other payable are measured at transaction price. |
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2.8 |
Current & deferred taxation |
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Deferred taxation is provided using the liability method to take into account timing from the inclusion of items of expenditure in taxation computations in periods that differ from those differences arising in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future. |
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Provision for deferred taxation is set off against debit balance of deferred taxation. |
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The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income. |
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2.9 |
Foreign currencies |
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Monetary assets and liabilities in foreign currencies are translated into Sterling at the rate of exchange |
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ruling at the Balance Sheet date. Transactions in Foreign currencies are translated into Sterling at |
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the rate of exchange ruling at the date of the transaction. |
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HIREDSCORE LTD |
Notes to the financial statements - 31 December 2023 |
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2. |
Accounting Policies (Continued) |
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2.10 |
Employee benefits |
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The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans. |
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(i) Short term benefits |
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Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is received. |
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(ii) Defined contribution pension plans |
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The company operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
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(iii) Share based payments |
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The company participates in a share based payment arrangement established by its ultimate parent company. The company recognises the share based payment expense based on the relative remuneration cost of the relevant employees. |
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The corresponding credit is recognised as a component of equity. |
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3. |
Employee information |
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The average number of staff employed by the company during the financial year was: |
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2023 |
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Number |
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Employees |
2 |
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No remuneration was paid to the directors during the year. |
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4. |
Debtors |
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31.12.2023 |
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£ |
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Parent company |
49,335 |
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Other debtors |
1,337 |
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50,672 |
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HIREDSCORE LTD |
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Notes to the financial statements - 31 December 2023 |
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5. |
Creditors: amounts falling due within one year |
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31.12.2023 |
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£ |
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Trade creditors |
1,200 |
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Pension |
1,070 |
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Corporation tax |
6,132 |
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Accruals |
47,438 |
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55,840 |
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6. |
Share Capital: |
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31.12.2023 |
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£ |
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Allotted, called up and fully paid: |
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1 ordinary shares at £1 |
1 |
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7. |
Audit report information |
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As the income statement has been omitted from the filing of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444 (5B) of the Companies Act 2006. The auditor's report was unqualified. |
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The senior statutory auditor was Mr. Josef Cohen |
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The auditor was Levy Cohen & Co. |
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Date auditor signed accounts: 30 April 2024 |
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Name of director signing accounts: RH Sauer |
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Date director signed accounts: 30 April 2024 |
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HIREDSCORE LTD |
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Notes to the financial statements - 31 December 2023 |
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8. |
Related party transactions |
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Control: |
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The immediate parent company is Hiredscore Inc a company incorporated and registered in the USA whose address is: 158 Mercer St, Suite 4M, New York, New York, USA. |
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Hiredscore Inc is the smallest and largest group to prepare consolidated accounts that can be obtained from its registered office. |
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The ultimate parent company is Workday Inc, a US company whose address is: The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA. |
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Transaction: |
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The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A. |
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9. |
Commitment |
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As at 31.12.2023 the company does not have any yearly commitment. |
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10. |
Post balance sheet events |
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On 29.03.2024 Workday Inc acquired the parent company and its subsidiaries including the UK subsidiary. |