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Registration number: 07980490

Recruitment Solutions (Holdings) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Recruitment Solutions (Holdings) Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Recruitment Solutions (Holdings) Ltd

(Registration number: 07980490)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

91,835

89,048

Investments

5

490

585

Cash at bank and in hand

 

146

33

 

92,471

89,666

Creditors: Amounts falling due within one year

6

(91,029)

(36,484)

Net assets

 

1,442

53,182

Capital and reserves

 

Called up share capital

102

102

Profit and loss account

1,340

53,080

Shareholders' funds

 

1,442

53,182

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 18 September 2024
 


Mr S J Williams
Director

 

Recruitment Solutions (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Charlotte Mews
Pavilion Place
Exeter
Devon
EX2 4HA

Principal activity

The principal activity of the company is that of a holding company.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The company meets its day to day working capital requirements through the support from the director and group companies which will continue for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

 

Recruitment Solutions (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

56,835

53,835

Other debtors

 

35,000

35,000

Income tax asset

-

213

 

91,835

89,048

 

Recruitment Solutions (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Current asset investments

2024
£

2023
£

Shares in group undertakings

490

585

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

8,194

34,394

Accruals and deferred income

 

945

750

Other creditors

 

81,890

1,340

 

91,029

36,484

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Director

(1,340)

(80,550)

(81,890)

       
     

 

2023

At 1 April 2022
£

At 31 March 2023
£

Director

(1,340)

(1,340)

 

Summary of transactions with other related parties

 

Recruitment Solutions (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Related party transactions (continued)

Loan to director of subsidiary company
 Included in debtors is a loan of £35,000 (2023: £35,000) to a director of a subsidiary company.
 This loan is interest free and the full balance is repayable on demand.