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Registration number: 14555901

First Point Recruitment Ltd

Annual Report and Unaudited Financial Statements

for the Period from 23 December 2022 to 31 March 2024

 

First Point Recruitment Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

First Point Recruitment Ltd

Company Information

Director

Mr Kevin Newman

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

Accountants

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

 

First Point Recruitment Ltd

Director's Report for the Period from 23 December 2022 to 31 March 2024

The director presents his report and the financial statements for the period from 23 December 2022 to 31 March 2024.

Incorporation

The company was incorporated and commenced trading on 23 December 2022.

Director of the company

The director who held office during the period was as follows:

Mr Kevin Newman (appointed 23 December 2022)

Principal activity

The principal activity of the company is recruitment consultancy

Small companies provision statement

This report has 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.

Approved by the director on 23 September 2024 and signed on its behalf by:

.........................................
Mr Kevin Newman
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
First Point Recruitment Ltd
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Point Recruitment Ltd for the period ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of First Point Recruitment Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of First Point Recruitment Ltd and state those matters that we have agreed to state to the Board of Directors of First Point Recruitment Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Point Recruitment Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by First Point Recruitment Ltd

It is your duty to ensure that First Point Recruitment Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of First Point Recruitment Ltd. You consider that First Point Recruitment Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of First Point Recruitment Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

23 September 2024

 

First Point Recruitment Ltd

Profit and Loss Account for the Period from 23 December 2022 to 31 March 2024

Note

2024
£

Turnover

 

68,368

Cost of sales

 

(21,184)

Gross profit

 

47,184

Administrative expenses

 

(13,060)

Operating profit

 

34,124

Profit before tax

4

34,124

Profit for the financial period

 

34,124

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

First Point Recruitment Ltd

Statement of Comprehensive Income for the Period from 23 December 2022 to 31 March 2024

2024
£

Profit for the period

34,124

Total comprehensive income for the period

34,124

 

First Point Recruitment Ltd

(Registration number: 14555901)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

5

115,200

Current assets

 

Debtors

6

8,568

Cash at bank and in hand

 

66,759

 

75,327

Creditors: Amounts falling due within one year

7

(156,301)

Net current liabilities

 

(80,974)

Net assets

 

34,226

Capital and reserves

 

Called up share capital

8

102

Retained earnings

34,124

Shareholders' funds

 

34,226

For the financial period 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 period 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.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr Kevin Newman
Director

   
     
 

First Point Recruitment Ltd

Statement of Changes in Equity for the Period from 23 December 2022 to 31 March 2024

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

34,124

34,124

New share capital subscribed

102

-

102

At 31 March 2024

102

34,124

34,226

 

First Point Recruitment Ltd

Notes to the Unaudited Financial Statements for the Period from 23 December 2022 to 31 March 2024

1

General information

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

The address of its registered office is:
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

These financial statements were authorised for issue by the director on 23 September 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

Depreciation

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

 

First Point Recruitment Ltd

Notes to the Unaudited Financial Statements for the Period from 23 December 2022 to 31 March 2024

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

Goodwill

10% on cost

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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 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.

 

First Point Recruitment Ltd

Notes to the Unaudited Financial Statements for the Period from 23 December 2022 to 31 March 2024

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.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

Amortisation expense

12,800

 

First Point Recruitment Ltd

Notes to the Unaudited Financial Statements for the Period from 23 December 2022 to 31 March 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

128,000

128,000

At 31 March 2024

128,000

128,000

Amortisation

Amortisation charge

12,800

12,800

At 31 March 2024

12,800

12,800

Carrying amount

At 31 March 2024

115,200

115,200

6

Debtors

Current

2024
£

Trade debtors

8,568

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

9

149,081

Taxation and social security

 

6,920

Other creditors

 

300

 

156,301

8

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

102

102

     
 

First Point Recruitment Ltd

Notes to the Unaudited Financial Statements for the Period from 23 December 2022 to 31 March 2024

9

Loans and borrowings

2024
£

Current loans and borrowings

Other borrowings

149,081