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Registration number: 03446821

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Company Information

Director

Mr NA Gordon

Registered office

38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS

Accountants

R A Jones & Co
Chartered Accountants
38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

(Registration number: 03446821)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,909

9,281

Investment property

5

190,392

190,392

 

197,301

199,673

Current assets

 

Debtors

6

791,497

1,020,904

Cash at bank and in hand

 

768,924

784,001

 

1,560,421

1,804,905

Creditors: Amounts falling due within one year

7

(418,804)

(669,543)

Net current assets

 

1,141,617

1,135,362

Total assets less current liabilities

 

1,338,918

1,335,035

Provisions for liabilities

(1,431)

(1,489)

Net assets

 

1,337,487

1,333,546

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,337,485

1,333,544

Shareholders' funds

 

1,337,487

1,333,546

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Directors' Report and Profit and Loss Account.

Approved and authorised by the director on 30 July 2024
 

Mr NA Gordon

Director

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Deerfoot I. T. Resources Limited.

The address of its registered office is:
38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS
England

The principal place of business is:
Seager's Cottage
Stuckton
Fordingbridge
Hampshire
SP6 2HG
England

These financial statements were authorised for issue by the director on 30 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services to customers and income derived from the investment property.

Revenue and income are recognised to the extent that the company obtains the right to consideration for its' performance.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25.00-33.33% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable properties determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2022 - 15).

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

18,614

18,614

Additions

1,643

1,643

Disposals

(1,466)

(1,466)

At 31 October 2023

18,791

18,791

Depreciation

At 1 November 2022

9,333

9,333

Charge for the year

3,576

3,576

Eliminated on disposal

(1,027)

(1,027)

At 31 October 2023

11,882

11,882

Carrying amount

At 31 October 2023

6,909

6,909

At 31 October 2022

9,281

9,281

5

Investment properties

2023
£

At 1 November

190,392

At 31 October

190,392

The fair value of the property was not considered to be materially different from the acquisition cost based on a comparison with nearby similar properties offered for sale on recognised internet sites and therefore no adjustments have been made in the current accounting period.

There has been no valuation of investment property by an independent valuer.

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

628,277

962,805

Amounts owed by related parties

9

29,554

29,760

Prepayments

 

50,377

27,837

Other debtors

 

83,289

502

   

791,497

1,020,904

Details of non-current trade and other debtors

£18,225 (2022 -£Nil) of Taxation is classified as non current.

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Trade creditors

 

281,229

365,686

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

564

337

Taxation and social security

 

96,766

225,809

Accruals and deferred income

 

33,135

73,149

Other creditors

 

7,110

4,562

 

418,804

669,543

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £105,556 (2022 - £133,207). The foregoing amounts include £1,325 (2022 - £1,293) in respect of leasehold property over the remaining period of the leases, £83,603 (2022 - £98,982) in respect of advertising over the remaining period of the contracts and £20,628 (2022 - £32,932 ) in respect of other costs over the remaining period of the contracts.

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £3,832 (2022 - £3,853).

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Related party transactions

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Mr NA Gordon

Directors loan account

-

62,200

62,200

       
     

 

The director's loan account is interest free and repayable upon demand.

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

29,760

29,760

Repaid

(206)

(206)

At end of period

29,554

29,554

2022

Other related parties
£

Total
£

At start of period

29,996

29,996

Repaid

(236)

(236)

At end of period

29,760

29,760

Terms of loans to related parties

Loan to Deerfoot I. T. Resources Limited (formerly Recruitiful Limited), a fellow subsidiary, was interest free and repayable upon demand.

Loans from related parties

2023

Parent
£

Total
£

At start of period

337

337

Advanced

226

226

At end of period

563

563

2022

Parent
£

Total
£

At start of period

150

150

Advanced

187

187

At end of period

337

337

Terms of loans from related parties

Loan from Deerfoot Holdings Limited was interest free and repayable on demand.
 

 

Deerfoot Recruitment Solutions Limited
(formerly Deerfoot I. T. Resources Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

10

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Deerfoot Holdings Limited, incorporated in England and Wales.