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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
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
52,857 
74,912 
Investment property
92,740 
92,740 
145,597 
167,652 
Current assets
Debtors
195,844 
5,000 
Cash at bank and in hand
16,502 
87,318 
212,346 
92,318 
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)
Net assets
67,590 
92,490 
Capital and reserves
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
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Red Bay Recruitment Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Going concern
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.
Leased assets
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.
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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 
Additions
- 
- 
1,250 
1,250 
At 31 October 2023
10,440 
107,637 
5,393 
123,470 
Depreciation
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 
Net book value
At 31 October 2023
8,444 
43,056 
1,357 
52,857 
At 31 October 2022
9,143 
64,583 
1,186 
74,912 
5
Investment property
2023 
£ 
Fair value at 1 November 2022
92,740 
At 31 October 2023
92,740 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
155,575 
- 
Accrued income and prepayments
6,000 
5,000 
Other debtors
34,269 
- 
195,844 
5,000 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
110,117 
66,682 
Obligations under finance leases and hire purchase contracts
11,696 
11,696 
Trade creditors
180 
- 
Taxes and social security
67,997 
37,399 
Accruals
1,890 
1,890 
Deferred income
60,356 
- 
252,236 
117,667 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
38,117 
49,813 
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Red Bay Recruitment Limited Notes to the Accounts for the year ended 31 October 2023
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
1 A Ordinary Shares of £1 each
1 
1 
2 
2 
10
Average number of employees
During the year the average number of employees was 46 (2022: 38).
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