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REGISTERED NUMBER: 04936750 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: J Lascelles





SECRETARY: E R Macpherson





REGISTERED OFFICE: Cranmer Cottage
Creake Road
Cranmer
Fakenham
NR21 9HX





REGISTERED NUMBER: 04936750 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 758 1,326

CURRENT ASSETS
Debtors 5 77,967 51,439
Investments 6 147 976
Cash at bank 41,856 34,093
119,970 86,508
CREDITORS
Amounts falling due within one year 7 65,684 40,745
NET CURRENT ASSETS 54,286 45,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,044

47,089

CREDITORS
Amounts falling due after more than one
year

8

(19,517

)

(22,743

)

PROVISIONS FOR LIABILITIES (189 ) (331 )
NET ASSETS 35,338 24,015

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 34,338 23,015
SHAREHOLDERS' FUNDS 35,338 24,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)

BALANCE SHEET - continued
31 OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2024 and were signed by:





J Lascelles - Director


STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Strategic Recruitment Resources Magellan Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from the principal activity of the company which is that of recruitment consultancy. Turnover is recognised as contracts progress and as the company becomes entitled to it, after VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Listed investments
Listed investments are held at market value at the balance sheet date. Realised and unrealised gains or losses are accounted for in the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 2,294
DEPRECIATION
At 1 November 2022 968
Charge for year 568
At 31 October 2023 1,536
NET BOOK VALUE
At 31 October 2023 758
At 31 October 2022 1,326

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 77,967 51,439

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 147 976

Listed investments are shown at their current market value at 31st October 2023.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,224 3,156
Taxation and social security 60,490 35,321
Other creditors 1,970 2,268
65,684 40,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,517 22,743

STRATEGIC RECRUITMENT RESOURCES
MAGELLAN PARTNERSHIP LIMITED (REGISTERED NUMBER: 04936750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 1,942 1,806

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
J Lascelles
Balance outstanding at start of year 51,439 42,866
Amounts advanced 6,333 8,573
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 57,772 51,439

12. RELATED PARTY DISCLOSURES

During the year a director charged company fees relating to consultancy services of £9,500 (2022: £9,500). The director considered these to be on third party terms.