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REGISTERED NUMBER: 09666880 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORD RECRUIT LIMITED

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 123,668 145,986

CURRENT ASSETS
Debtors 5 524,496 749,416
Cash at bank and in hand 136,342 149,280
660,838 898,696
CREDITORS
Amounts falling due within one year 6 250,612 421,683
NET CURRENT ASSETS 410,226 477,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

533,894

622,999

CREDITORS
Amounts falling due after more than one
year

7

(46,407

)

(60,930

)

PROVISIONS FOR LIABILITIES 9 (19,700 ) (17,300 )
NET ASSETS 467,787 544,769

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings 467,717 544,699
467,787 544,769

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 23 August 2024 and were signed by:




Mr L S Young - Director


NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Nord Recruit Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09666880

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.


NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 17 ) .

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 136,906 174,956 311,862
Additions 14,171 - 14,171
At 31 December 2023 151,077 174,956 326,033
DEPRECIATION
At 1 January 2023 65,901 99,975 165,876
Charge for year 17,744 18,745 36,489
At 31 December 2023 83,645 118,720 202,365
NET BOOK VALUE
At 31 December 2023 67,432 56,236 123,668
At 31 December 2022 71,005 74,981 145,986

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 99,975
DEPRECIATION
At 1 January 2023 24,994
Charge for year 18,745
At 31 December 2023 43,739
NET BOOK VALUE
At 31 December 2023 56,236
At 31 December 2022 74,981

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 69,570 238,168
Other debtors 454,926 511,248
524,496 749,416

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 14,523 14,523
Trade creditors 34,054 48,065
Taxation and social security 140,400 224,173
Other creditors 61,635 134,922
250,612 421,683

NORD RECRUIT LIMITED (REGISTERED NUMBER: 09666880)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 46,407 60,930

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 14,523 14,523
Between one and five years 46,407 60,930
60,930 75,453

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 19,700 17,300

Deferred
tax
£   
Balance at 1 January 2023 17,300
Provided during year 2,400
Balance at 31 December 2023 19,700

10. OTHER FINANCIAL COMMITMENTS

The company has annual commitment of £121,825 under non-cancellable operating leases.

11. RELATED PARTY DISCLOSURES

Included in the other debtors due within one year is an amount of £391,279 (2022 : £333,979) due from the connected companies with common shareholding.The loans remain interest free and recoverable on demand.

Included in the other creditors due within one year is an amount of £16,576 (2022 : £Nil) due to the director of the company.The loan remains interest free and repayable on demand.