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Registration number: 03143138

RoS International Limited

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 April 2024

 

RoS International Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

RoS International Limited

Company Information

Directors

C R Burgar

L Burgar

Company secretary

L Burgar

Registered office

Ros House
16 Parliament Street
Hull
East Yorkshire
HU1 2AP

 

RoS International Limited

(Registration number: 03143138)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

3,911

Tangible assets

5

-

67,997

 

-

71,908

Current assets

 

Debtors

6

11,239

254,610

Cash at bank and in hand

 

163,819

406,652

 

175,058

661,262

Creditors: Amounts falling due within one year

7

(174,958)

(352,912)

Net current assets

 

100

308,350

Total assets less current liabilities

 

100

380,258

Creditors: Amounts falling due after more than one year

7

-

(69,258)

Provisions for liabilities

-

(12,295)

Net assets

 

100

298,705

Capital and reserves

 

Called up share capital

100

100

Retained earnings

-

298,605

Shareholders' funds

 

100

298,705

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................
C R Burgar
Director

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03143138.

The address of its registered office is:
Ros House
16 Parliament Street
Hull
East Yorkshire
HU1 2AP

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 have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.

Disclosure of long or short period

The financial statements have been prepared for a period of 9 months due to the winding up of the Company. Figures presented in the accounts are therefore not directly comparable with the prior year which covered a period of 12 months.

Going concern

The financial statements have not been prepared under the going concern assumption as the business ceased to trade during the year.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of recruitment services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% straight line

Motor vehicles

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

20% straight line

Goodwill

5% straight line - fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for the provision of recruitment services generated in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 14 (2023 - 25).

4

Intangible assets

Goodwill
 £

Website development
 £

Total
£

Cost or valuation

At 1 August 2023

148,000

8,840

156,840

At 30 April 2024

148,000

8,840

156,840

Amortisation

At 1 August 2023

148,000

4,929

152,929

Amortisation charge

-

3,911

3,911

At 30 April 2024

148,000

8,840

156,840

Carrying amount

At 30 April 2024

-

-

-

At 31 July 2023

-

3,911

3,911

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

5

Tangible assets

Office equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

23,987

127,984

151,971

Disposals

-

(127,984)

(127,984)

At 30 April 2024

23,987

-

23,987

Depreciation

At 1 August 2023

18,917

65,057

83,974

Charge for the period

5,070

12,435

17,505

Eliminated on disposal

-

(77,492)

(77,492)

At 30 April 2024

23,987

-

23,987

Carrying amount

At 30 April 2024

-

-

-

At 31 July 2023

5,070

62,927

67,997

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

157,306

Prepayments

-

4,307

Other debtors

11,239

92,997

 

11,239

254,610

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

8,563

Trade creditors

 

7,316

1,070

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

10

128,639

203,017

Taxation and social security

 

10,652

57,520

Accruals and deferred income

 

28,351

79,225

Other creditors

 

-

3,517

 

174,958

352,912

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

66,220

Other non-current financial liabilities

 

-

3,038

 

-

69,258

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Obligtions under hire purchase and finance lease

-

8,563

2024
£

2023
£

Non-current loans and borrowings

Obligtions under hire purchase and finance lease

-

66,220

Borrowings under hire purchase and finance lease obligations are secured against the asset to which they relate.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £94,875 (2023 - £105,528). This relates to rental of the business premises and leasing of vehicles.

10

Related party transactions

Other transactions with Directors

At the year end, the Director owed the Company £Nil (2023: £77,498). Amounts between the Director and the Company are unsecured, interest-free and repayable on demand.

Summary of transactions with other related parties

Ventus Jobs Limited

(A Company also Directed by C Burgar)

At the year end, the amount due to RoS International Limited by Ventus Jobs Limited was £482 (2023: £301). The amount is unsecured, interest-free and repayable on demand.

 

 

RoS International Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 April 2024

11

Parent and ultimate parent undertaking

The Company's immediate parent is ROS Holdings Limited, incorporated in England and Wales.

  These financial statements are available upon request from 16 Parliament Street, Hull, HU1 2AP.

The company has taken advantage of the exemption in FRS102 Section 1A from disclosing transactions that are part of the ROS Holdings Limited group.