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REGISTERED NUMBER: 10819961 (England and Wales)












ABSOLUTE I T RECRUITMENT LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2023






ABSOLUTE I T RECRUITMENT LIMITED (REGISTERED NUMBER: 10819961)






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


ABSOLUTE I T RECRUITMENT LIMITED

Company Information
for the Year Ended 31 December 2023







Director: P L Mills





Registered office: The Gate House
Suite 3, Floor 3, Fretherne Road
Welwyn Garden City
AL8 6NS





Registered number: 10819961 (England and Wales)





Accountants: Outsource-FD Limited t/a eFM
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

ABSOLUTE I T RECRUITMENT LIMITED (REGISTERED NUMBER: 10819961)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 705 1,898

Current assets
Debtors 5 143,996 209,348
Cash at bank 21,328 36,065
165,324 245,413
Creditors
Amounts falling due within one year 6 127,774 175,500
Net current assets 37,550 69,913
Total assets less current liabilities 38,255 71,811

Provisions for liabilities 134 353
Net assets 38,121 71,458

Capital and reserves
Called up share capital 7 100 100
Retained earnings 38,021 71,358
Shareholders' funds 38,121 71,458

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 director acknowledges his 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 director and authorised for issue on 20 August 2024 and were signed by:




P L Mills - Director


ABSOLUTE I T RECRUITMENT LIMITED (REGISTERED NUMBER: 10819961)

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

1. Statutory information

Absolute I T Recruitment Limited 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.

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.

Computer Equipment - 25% Straight Line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Going concern
The directors will continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 6 ) .

ABSOLUTE I T RECRUITMENT LIMITED (REGISTERED NUMBER: 10819961)

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

4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 January 2023 6,818
Additions 196
At 31 December 2023 7,014
Depreciation
At 1 January 2023 4,920
Charge for year 1,389
At 31 December 2023 6,309
Net book value
At 31 December 2023 705
At 31 December 2022 1,898

5. Debtors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade debtors 56,388 103,888
Absolute Accountancy Recruitme 87,608 102,857
Staff Loans - 100
Accrued Income - 2,208
Prepayments - 295
143,996 209,348

6. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade creditors 3,297 36,397
Amounts owed to group undertakings 91,399 91,399
Tax 11,903 15,387
Social security and other taxes 2,166 3,041
Pensions Payable 452 897
VAT 6,202 27,212
Other creditors - 12
Accrued expenses 12,355 1,155
127,774 175,500

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
100 Ordinary shares 1 100 100

ABSOLUTE I T RECRUITMENT LIMITED (REGISTERED NUMBER: 10819961)

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

8. Related party disclosures

Summary of transactions with parent

At the balance sheet date the company owed £91,399 (2022: £91,399) to PLM Holdings Limited, the parent company.
This loan is provided interest free and is repayable on demand.

Summary of transactions with other related parties

Absolute Accountancy Recruitment Limited
At the balance sheet date, the company was owed £87,608 (2022: they owed £102,857) from Absolute Accountancy Recruitment Limited, a company owned by PLM Holdings Limited.
The loan is provided interest free with no formal terms of repayment.

The ultimate controlling party is P L Mills.

The ultimate parent is PLM Holdings Limited, incorporated in England and Wales.
The ultimate controlling party is P Mills, director of PLM Holdings Limited.