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Registered number: 07431144
24-7 Employment Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Asmita & Associates Ltd
116 Plumstead High Street
London
SE18 1SJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07431144
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 80,032 86,674
Tangible Assets 5 32,788 26,249
Investments 6 - 100,000
112,820 212,923
CURRENT ASSETS
Debtors 7 649,557 619,189
Cash at bank and in hand 377,630 466,974
1,027,187 1,086,163
Creditors: Amounts Falling Due Within One Year 8 (413,927 ) (581,754 )
NET CURRENT ASSETS (LIABILITIES) 613,260 504,409
TOTAL ASSETS LESS CURRENT LIABILITIES 726,080 717,332
Creditors: Amounts Falling Due After More Than One Year 9 (30,746 ) (38,079 )
NET ASSETS 695,334 679,253
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 695,234 679,153
SHAREHOLDERS' FUNDS 695,334 679,253
Page 1
Page 2
For the year ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Sharma Adhikari
Director
12/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
24-7 Employment Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07431144 . The registered office is 198 Parrock Street, Gravesend, DA12 1EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
Motor Vehicles 20% Reducing balance
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 390 (2022: 390)
390 390
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 99,626
As at 30 November 2023 99,626
Amortisation
As at 1 December 2022 12,952
Provided during the period 6,642
As at 30 November 2023 19,594
Net Book Value
As at 30 November 2023 80,032
As at 1 December 2022 86,674
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 18,229 29,455 47,684
Additions 2,235 31,000 33,235
Disposals - (18,500 ) (18,500 )
As at 30 November 2023 20,464 41,955 62,419
Depreciation
As at 1 December 2022 11,162 10,273 21,435
Provided during the period 1,860 6,336 8,196
As at 30 November 2023 13,022 16,609 29,631
Net Book Value
As at 30 November 2023 7,442 25,346 32,788
As at 1 December 2022 7,067 19,182 26,249
6. Investments
Other
£
Cost
As at 1 December 2022 100,000
Disposals (100,000 )
As at 30 November 2023 -
Provision
As at 1 December 2022 -
As at 30 November 2023 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 100,000
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 613,509 583,164
Other debtors 36,048 36,025
649,557 619,189
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Amounts owed to group undertakings (100,000 ) -
Other creditors 226,265 192,437
Taxation and social security 287,662 389,317
413,927 581,754
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,746 38,079
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5