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REGISTERED NUMBER: 11726770 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

KMG Recruitment Ltd

KMG Recruitment Ltd (Registered number: 11726770)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KMG Recruitment Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G I Bullock
M T A Ahola





REGISTERED OFFICE: Hammersmith The Foundry
77 Fulham Palace Road
London
W6 8AF





REGISTERED NUMBER: 11726770 (England and Wales)





ACCOUNTANTS: Ward Mackenzie Ltd
Chartered Accountants
Thatcher House
12 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AS

KMG Recruitment Ltd (Registered number: 11726770)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,300 11,785

CURRENT ASSETS
Debtors 5 293,605 237,309
Cash at bank 432,291 261,157
725,896 498,466
CREDITORS
Amounts falling due within one year 6 (232,395 ) (155,834 )
NET CURRENT ASSETS 493,501 342,632
TOTAL ASSETS LESS CURRENT LIABILITIES 512,801 354,417

CAPITAL AND RESERVES
Called up share capital 4 3
Capital redemption reserve 7 1 -
Retained earnings 7 512,796 354,414
SHAREHOLDERS' FUNDS 512,801 354,417

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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2024 and were signed on its behalf by:





G I Bullock - Director


KMG Recruitment Ltd (Registered number: 11726770)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KMG Recruitment Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

DEFERRED TAX
Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date as these are considered immaterial.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 20 ) .

KMG Recruitment Ltd (Registered number: 11726770)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 1,791 - 15,729 17,520
Additions 1,813 749 15,845 18,407
Disposals - - (7,352 ) (7,352 )
At 31 December 2023 3,604 749 24,222 28,575
DEPRECIATION
At 1 January 2023 782 - 4,953 5,735
Charge for year 593 156 4,323 5,072
Eliminated on disposal - - (1,532 ) (1,532 )
At 31 December 2023 1,375 156 7,744 9,275
NET BOOK VALUE
At 31 December 2023 2,229 593 16,478 19,300
At 31 December 2022 1,009 - 10,776 11,785

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 275,195 234,294
Other debtors 12,000 3,015
Prepayments and accrued income 6,410 -
293,605 237,309

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,323 3,667
Trade creditors 18,861 3,676
Corporation tax 108,301 85,977
Social security and other tax 18,958 1,204
VAT 41,354 37,767
Other creditors 500 -
Directors' current accounts 31,703 22,518
Accrued expenses 1,395 1,025
232,395 155,834

The directors consider the carrying amounts of current liabilities approximate to their fair values.

KMG Recruitment Ltd (Registered number: 11726770)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 354,414 - 354,414
Profit for the year 350,383 350,383
Dividends (192,000 ) (192,000 )
Purchase of own shares (1 ) 1 -
At 31 December 2023 512,796 1 512,797

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £72,000 were paid to the directors .