Gleeson Futures Limited 11772493 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is recruitment consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 11772493 2023-01-01 2023-12-31 11772493 2023-12-31 11772493 bus:Consolidated 2023-12-31 11772493 core:ShareCapital 2023-12-31 11772493 core:CurrentFinancialInstruments 2023-12-31 11772493 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11772493 bus:SmallEntities 2023-01-01 2023-12-31 11772493 bus:Audited 2023-01-01 2023-12-31 11772493 bus:FullAccounts 2023-01-01 2023-12-31 11772493 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11772493 bus:RegisteredOffice 2023-01-01 2023-12-31 11772493 bus:Director1 2023-01-01 2023-12-31 11772493 bus:Director2 2023-01-01 2023-12-31 11772493 bus:Director3 2023-01-01 2023-12-31 11772493 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11772493 countries:AllCountries 2023-01-01 2023-12-31 11772493 2022-12-31 11772493 core:ShareCapital 2022-12-31 11772493 core:CurrentFinancialInstruments 2022-12-31 11772493 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11772493 (England & Wales)

Prepared for the registrar

Gleeson Futures Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Gleeson Futures Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Gleeson Futures Limited

Company Information

Directors

J Blakey

A Gleeson

J Granger

Registered office

8th Floor
Edmund House
12-22 Newhall Street
Birmingham
United Kingdom
B3 3AS

Auditors

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Gleeson Futures Limited

(Registration number: 11772493)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

3,624

Cash at bank and in hand

 

4,902

1,158

 

4,902

4,782

Creditors: Amounts falling due within one year

5

(4,687)

(3,782)

Net assets

 

215

1,000

Capital and reserves

 

Called up share capital

3

3

Profit and loss account

212

997

Shareholders' funds

 

215

1,000

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 July 2024 and signed on its behalf by:
 


A Gleeson
Director

 

Gleeson Futures Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
8th Floor
Edmund House
12-22 Newhall Street
Birmingham
United Kingdom
B3 3AS

 

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.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Gleeson Recruitment Ltd.

The financial statements of Gleeson Recruitment Ltd may be obtained from the company's registered office.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 considered to be 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Gleeson Futures Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

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

The company recognises revenue: on the first day of a permanent placement commencing their new post, or upon weekly invoicing of temporary staff placements, and the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

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

 

Gleeson Futures Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

 

Gleeson Futures Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

 

4

Debtors

2023
 £

2022
 £

Trade debtors

-

3,600

Other debtors

-

24

 

-

3,624

 

5

Creditors

2023
 £

2022
 £

Due within one year

Amounts due to related parties

4,648

3,782

Social security and other taxes

39

-

4,687

3,782

 

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares A of £0.000001 each

1,000,000

1

1,000,000

1

Ordinary Shares B of £0.000001 each

1,000,000

1

1,000,000

1

Ordinary Shares C of £0.000001 each

1,000,000

1

1,000,000

1

 

3,000,000

3

3,000,000

3

All shares rank pari passu as regards to voting rights, dividends, capital and participation in a distribution (including on winding up).

All shares are not redeemable and are not liable to be redeemed at the option of the Company or any shareholder.

 

7

Related party transactions

The Company has taken advantage of the exemptions provided by FRS 102 1A and not disclosed the transactions with group undertakings where 100% of the voting rights are controlled within the group.

 

8

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Gleeson Recruitment Ltd, incorporated in the United Kingdom.

The consolidated financial statements of Gleeson Recruitment Ltd are available from 8th Floor , Edmund House, Birmingham, B3 3AS.

 

9

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 July 2024 was Ryan Hancock, who signed for and on behalf of Hazlewoods LLP.