Company Registration No. NI648618 (Northern Ireland)
Red Bay Recruitment Limited
Unaudited accounts
for the year ended 31 October 2023
Red Bay Recruitment Limited
Statement of financial position
as at 31 October 2023
Tangible assets
52,857
74,912
Investment property
92,740
92,740
Cash at bank and in hand
16,502
87,318
Creditors: amounts falling due within one year
(252,236)
(117,667)
Net current liabilities
(39,890)
(25,349)
Total assets less current liabilities
105,707
142,303
Creditors: amounts falling due after more than one year
(38,117)
(49,813)
Called up share capital
2
2
Profit and loss account
67,588
92,488
Shareholders' funds
67,590
92,490
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Mary McKillop
Director
Company Registration No. NI648618
Red Bay Recruitment Limited
Notes to the Accounts
for the year ended 31 October 2023
Red Bay Recruitment Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI648618. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide recruitment services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight-Line
Motor vehicles
20% Straight-Line
Computer equipment
20% Straight-Line
The director of Red Bay Recruitment Limited believes that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least twelve months from the date of signing. Accordingly, Red Bay Recruitment Limited continues to adopt the going concern basis in preparing the financial statements.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Red Bay Recruitment Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
10,440
107,637
4,143
122,220
At 31 October 2023
10,440
107,637
5,393
123,470
At 1 November 2022
1,297
43,054
2,957
47,308
Charge for the year
699
21,527
1,079
23,305
At 31 October 2023
1,996
64,581
4,036
70,613
At 31 October 2023
8,444
43,056
1,357
52,857
At 31 October 2022
9,143
64,583
1,186
74,912
Fair value at 1 November 2022
92,740
Amounts falling due within one year
Accrued income and prepayments
6,000
5,000
7
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
11,696
11,696
Taxes and social security
67,997
37,399
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
38,117
49,813
Red Bay Recruitment Limited
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
1 A Ordinary Shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 46 (2022: 38).