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S P S Recruitment Limited

Registered Number
07083768
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

S P S Recruitment Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr L Griffiths
Ms S Hopwood
Mr M Pask

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

07083768 (England and Wales)
S P S Recruitment Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3152,800152,800
152,800152,800
Current assets
Debtors475,78868,200
Cash at bank and on hand-726
75,78868,926
Creditors amounts falling due within one year5(197,826)(198,025)
Net current assets (liabilities)(122,038)(129,099)
Total assets less current liabilities30,76223,701
Net assets30,76223,701
Capital and reserves
Called up share capital300300
Profit and loss account30,46223,401
Shareholders' funds30,76223,701
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
Mr L Griffiths
Director
Mr M Pask
Director
Ms S Hopwood
Director

Registered Company No. 07083768
S P S Recruitment Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the year end the company's balance sheet reported net current liabilities of £122,038 (2022 - £129,099) indicating that it may not be a going concern. The company meets its day to day working capital requirements via the support of its creditors and the directors have no evidence to suggest that this support will be withdrawn within twelve months of the date of signature of these financial statements. Therefore, they consider it appropriate to prepare them on a going concern basis.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year55
3.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 23152,800152,800
At 31 December 23152,800152,800
Net book value
At 31 December 23152,800152,800
At 31 December 22152,800152,800

Notes

1Investments in group undertakings and participating interests
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables348-
Amounts owed by group undertakings50,01641,310
Other debtors25,42426,890
Total75,78868,200
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables173,421166,098
Bank borrowings and overdrafts959-
Taxation and social security361390
Other creditors21,14729,647
Accrued liabilities and deferred income1,9381,890
Total197,826198,025
All the company's liabilities to National Westminster Bank PLC are secured against all the assets of the company by way of a fixed and floating charge dated 15 March 2016.
6.Related party transactions
Included within debtors is an amount owed to the company of £50,016 (2022 - £41,310) for an interest free loan to a company in which this company has a participating interest. Included within other creditors is £21,147 (2022 - £29,647) for an interest free loan which is due to a company of which the directors and shareholders of this company are also directors and shareholders.