Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07517215 Mr James Adamson Mr James Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07517215 2022-12-31 07517215 2023-12-31 07517215 2023-01-01 2023-12-31 07517215 frs-core:CurrentFinancialInstruments 2023-12-31 07517215 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07517215 frs-core:FurnitureFittings 2023-12-31 07517215 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07517215 frs-core:FurnitureFittings 2022-12-31 07517215 frs-core:MotorVehicles 2023-12-31 07517215 frs-core:MotorVehicles 2023-01-01 2023-12-31 07517215 frs-core:MotorVehicles 2022-12-31 07517215 frs-core:OtherResidualIntangibleAssets 2023-12-31 07517215 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 07517215 frs-core:OtherResidualIntangibleAssets 2022-12-31 07517215 frs-core:PlantMachinery 2023-12-31 07517215 frs-core:PlantMachinery 2023-01-01 2023-12-31 07517215 frs-core:PlantMachinery 2022-12-31 07517215 frs-core:ShareCapital 2023-12-31 07517215 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07517215 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07517215 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07517215 frs-bus:SmallEntities 2023-01-01 2023-12-31 07517215 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07517215 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07517215 frs-bus:Director1 2023-01-01 2023-12-31 07517215 frs-bus:Director2 2023-01-01 2023-12-31 07517215 frs-core:CurrentFinancialInstruments 1 2023-12-31 07517215 frs-countries:EnglandWales 2023-01-01 2023-12-31 07517215 2021-12-31 07517215 2022-12-31 07517215 2022-01-01 2022-12-31 07517215 frs-core:CurrentFinancialInstruments 2022-12-31 07517215 frs-core:ShareCapital 2022-12-31 07517215 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07517215 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 07517215
Vertical Recruitment Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
RJF Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07517215
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,820 9,159
Tangible Assets 5 44,859 71,313
51,679 80,472
CURRENT ASSETS
Debtors 6 581,486 457,106
Cash at bank and in hand 125,241 100,560
706,727 557,666
Creditors: Amounts Falling Due Within One Year 7 (382,030 ) (287,839 )
NET CURRENT ASSETS (LIABILITIES) 324,697 269,827
TOTAL ASSETS LESS CURRENT LIABILITIES 376,376 350,299
NET ASSETS 376,376 350,299
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 376,374 350,297
SHAREHOLDERS' FUNDS 376,376 350,299
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For the year ending 31 December 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 James Adamson
Director
12/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vertical Recruitment Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07517215 . The registered office is Conavon Court, 12 Blackfriars Street, Salford, M3 5BQ.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of Five (5) years.
2.4. 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 25% Reducing balance
Fixtures & Fittings 33% Straight-line
2.5. 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 year 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 asset reflects 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 11,692
As at 31 December 2023 11,692
Amortisation
As at 1 January 2023 2,533
Provided during the period 2,339
As at 31 December 2023 4,872
Net Book Value
As at 31 December 2023 6,820
As at 1 January 2023 9,159
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 10,761 54,995 27,646 93,402
As at 31 December 2023 10,761 54,995 27,646 93,402
Depreciation
As at 1 January 2023 7,916 7,152 7,021 22,089
Provided during the period 1,097 16,234 9,123 26,454
As at 31 December 2023 9,013 23,386 16,144 48,543
Net Book Value
As at 31 December 2023 1,748 31,609 11,502 44,859
As at 1 January 2023 2,845 47,843 20,625 71,313
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 414,222 219,430
Prepayments and accrued income 16,664 7,676
Other debtors 80,000 210,000
Contractor Invoices Accrual 65,600 -
Amounts owed by associates 5,000 20,000
581,486 457,106
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 87,831 66,180
Bank loans and overdrafts 17,981 19,078
Corporation tax 77,235 34,443
Other taxes and social security 6,624 4,792
VAT 179,539 122,225
Accruals and deferred income 12,820 21,165
Directors' loan accounts - 19,956
382,030 287,839
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 175,613 193,068
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