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Registered number: 12949876









TEXO RECRUITMENT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
TEXO RECRUITMENT LIMITED
REGISTERED NUMBER: 12949876

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,355
3,198

  
9,355
3,198

Current assets
  

Debtors: amounts falling due within one year
 5 
2,309,816
285,027

Cash at bank and in hand
 6 
5,763
405,435

  
2,315,579
690,462

Creditors: amounts falling due within one year
 7 
(2,235,185)
(711,282)

Net current assets/(liabilities)
  
 
 
80,394
 
 
(20,820)

Total assets less current liabilities
  
89,749
(17,622)

  

Net assets/(liabilities)
  
89,749
(17,622)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
89,649
(17,722)

  
89,749
(17,622)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




H F Smith
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
TEXO RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Texo Recruitment Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 12949876. The address of the registered office is 8 Stepfield, Witham, Essex, United Kingdom, CM8 3TH. The nature of the company's operation and principal activity is recruitment services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest pound sterling..

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
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 at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 2

 
TEXO RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years straight line
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 3

 
TEXO RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees (including the directors) during the year was as follows:


        2023
        2022
            No.
            No.







Employees
11
10


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
-
5,172
5,172


Additions
7,050
998
8,048



At 30 November 2023

7,050
6,170
13,220



Depreciation


At 1 December 2022
-
1,974
1,974


Charge for the year on owned assets
-
1,891
1,891



At 30 November 2023

-
3,865
3,865



Net book value



At 30 November 2023
7,050
2,305
9,355



At 30 November 2022
-
3,198
3,198


5.


Debtors

2023
2022
£
£


Trade debtors
138,703
161,400

Amounts owed by group undertakings
8,620
-

Other debtors
231,233
115,141

Prepayments and accrued income
1,931,260
8,486

2,309,816
285,027

Page 4

 
TEXO RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.Debtors (continued)



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,763
405,435

5,763
405,435



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
467,147
102,812

Amounts owed to group undertakings
1,491,287
535,102

Other taxation and social security
24,786
11,699

Other creditors
22,499
10,279

Accruals and deferred income
229,466
51,390

2,235,185
711,282



8.


Pension commitments

The Company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the Company in an independently administered fund.  The pension cost charge represents contributions payable by the Company to the fund and amounted to £18,787 (2022: £17,133).  Contributions totalling £15,437 (2022: £nil) were payable to the fund at the balance sheet date and are included in creditors. 


9.


Related party transactions

At the year end £1,431,620 (2022: £535,103) was due to entities with common shareholders.
At the year end £6,638 (2022: £5,010) was due from key management personnel.
During the year the company incurred group recharges from the parent company of £59,411 (2022: £101,612).
During the year the company made sales to the parent company of £9,256,188 (2022: £3,493,522). 

Page 5

 
TEXO RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Controlling party

The company was controlled throughout the current year and prior period by its immediate parent company, Texo Group Limited, a company incorporated in England and Wales. 
The ultimate controlling company of Texo Group Limited is Trad Properties LLP, a limited liability partnership incorporated in England and Wales. 
Trad Properties LLP  is controlled by the Trustees of the Trad Scaffolding Co. Limited (H F Smith) FURBS and H F Smith is the controlling Trustee.

11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 November 2023 was unqualified.

The audit report was signed on 29 August 2024 by Matthew Wells  ACA (Senior statutory auditor) on behalf of Haslers.

 
Page 6