Company registration number 02222405 (England and Wales)
CHILTERN RECRUITMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CHILTERN RECRUITMENT LIMITED
COMPANY INFORMATION
Directors
M R Jeffries
A E Jeffries
Secretary
M R Jeffries
Company number
02222405
Registered office
6 Manor Courtyard
Hughenden Avenue
High Wycombe
Buckinghamshire
HP13 5RE
Accountants
Evelyn Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
CHILTERN RECRUITMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CHILTERN RECRUITMENT LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,000
12,000
Tangible assets
4
404,973
410,754
412,973
422,754
Current assets
Debtors
5
278,362
323,310
Cash at bank and in hand
44
10,655
278,406
333,965
Creditors: amounts falling due within one year
6
(226,919)
(207,680)
Net current assets
51,487
126,285
Total assets less current liabilities
464,460
549,039
Creditors: amounts falling due after more than one year
7
(31,188)
(83,587)
Provisions for liabilities
(3,803)
(3,770)
Net assets
429,469
461,682
Capital and reserves
Called up share capital
8
200
200
Revaluation reserve
9
66,673
66,673
Profit and loss reserves
362,596
394,809
Total equity
429,469
461,682

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CHILTERN RECRUITMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
A E Jeffries
Director
Company Registration No. 02222405
CHILTERN RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Chiltern Recruitment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Manor Courtyard, Hughenden Avenue, High Wycombe, Buckinghamshire, HP13 5RE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rendering of services in the normal course of business, and is shown net of VAT.

 

Rendering of services

Revenue arises from the provision of recruitment consultancy services. Revenue is recognised upon completion of the services provided.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4 years.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line on buildings
Plant and equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

CHILTERN RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

Basic financial liabilities

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

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CHILTERN RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
28
44
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
20,000
Amortisation and impairment
At 1 April 2023
8,000
Amortisation charged for the year
4,000
At 31 March 2024
12,000
Carrying amount
At 31 March 2024
8,000
At 31 March 2023
12,000
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost or valuation
At 1 April 2023 and 31 March 2024
425,000
49,828
474,828
Depreciation and impairment
At 1 April 2023
20,400
43,674
64,074
Depreciation charged in the year
3,400
2,381
5,781
At 31 March 2024
23,800
46,055
69,855
Carrying amount
At 31 March 2024
401,200
3,773
404,973
At 31 March 2023
404,600
6,154
410,754

Freehold land and buildings with a cost of £353,387 (2023 - £353,387) were revalued in the year-ended 31st March 2018 by the director on an open market basis. The revaluation surplus has been included in the revaluation reserve.

 

CHILTERN RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
66,759
103,067
Other debtors
211,603
220,243
278,362
323,310
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
97,390
57,202
Trade creditors
3,626
1,916
Corporation tax
64,052
52,220
Other taxation and social security
42,950
73,496
Other creditors
18,901
22,846
226,919
207,680

Included in bank loans and overdrafts is a legal mortgage of £27,934 (2023 - £23,358) over the freehold property.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
31,188
83,587

Included in bank loans is a legal mortgage of £17,263 (2023 - £43,408) over the freehold property.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary B shares of £1 each
100
100
100
100
200
200
200
200
CHILTERN RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
66,673
66,673
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