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REGISTERED NUMBER: 10410972 (England and Wales)















PROXIMITY RECRUITMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROXIMITY RECRUITMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr J W F Thomas





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 10410972 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,210 2,762
Tangible assets 5 1,209 928
Investments 6 7,189 490
10,608 4,180

CURRENT ASSETS
Debtors 7 101,130 23,366
Prepayments and accrued income 2,588 -
Cash at bank 7,692 115,426
111,410 138,792
CREDITORS
Amounts falling due within one year 8 22,573 37,410
NET CURRENT ASSETS 88,837 101,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,445

105,562

PROVISIONS FOR LIABILITIES (303 ) -

ACCRUALS AND DEFERRED INCOME (1,565 ) (1,920 )
NET ASSETS 97,577 103,642

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 97,477 103,542
SHAREHOLDERS' FUNDS 97,577 103,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





Mr J W F Thomas - Director


PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Proximity Recruitment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is rounded to the nearest pound sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 10,545
AMORTISATION
At 1 April 2023 7,783
Charge for year 552
At 31 March 2024 8,335
NET BOOK VALUE
At 31 March 2024 2,210
At 31 March 2023 2,762

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 208 1,802 2,010
Additions 335 - 335
At 31 March 2024 543 1,802 2,345
DEPRECIATION
At 1 April 2023 171 911 1,082
Charge for year 10 44 54
At 31 March 2024 181 955 1,136
NET BOOK VALUE
At 31 March 2024 362 847 1,209
At 31 March 2023 37 891 928

PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 490
Additions 6,006
Disposals (139 )
Revaluations 832
At 31 March 2024 7,189
NET BOOK VALUE
At 31 March 2024 7,189
At 31 March 2023 490

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 832
Cost 6,357
7,189

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 583 4,619
Other debtors 76,738 3,885
Directors' current accounts 23,809 14,862
101,130 23,366

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Preference shares 15 15
Trade creditors 54 101
Tax 18,596 26,857
VAT 3,860 10,332
Other creditors 48 105
22,573 37,410

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

PROXIMITY RECRUITMENT LIMITED (REGISTERED NUMBER: 10410972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J W F Thomas
Balance outstanding at start of year 14,862 (40,116 )
Amounts advanced 97,817 136,799
Amounts repaid (88,870 ) (81,821 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,809 14,862

For the year ended 31 March 2024 the overdrawn Director's Loan Account was repaid in full on 6 April 2024.