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COMPANY REGISTRATION NUMBER: 05090880
Better Placed Recruitment Group Limited
Filleted Unaudited Financial Statements
31 December 2023
Better Placed Recruitment Group Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
749
749
Current assets
Debtors
5
158,442
245,053
Cash at bank and in hand
842
28,582
---------
---------
159,284
273,635
Creditors: amounts falling due within one year
6
112,588
100,590
---------
---------
Net current assets
46,696
173,045
--------
---------
Total assets less current liabilities
47,445
173,794
--------
---------
Better Placed Recruitment Group Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
432
432
Profit and loss account
47,013
173,362
--------
---------
Shareholders funds
47,445
173,794
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31st December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr A Gibson
Mr D J Bartle
Director
Director
Mr S P Stephens
Director
Company registration number: 05090880
Better Placed Recruitment Group Limited
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Employee ownership trust
Better Placed Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
4. Investments
Shares in group undertakings
£
Cost
At 1st January 2023 and 31st December 2023
749
----
Impairment
At 1st January 2023 and 31st December 2023
----
Carrying amount
At 31st December 2023
749
----
At 31st December 2022
749
----
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
138,073
209,684
Other debtors
20,369
35,369
---------
---------
158,442
245,053
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
103,389
91,391
Other creditors
9,199
9,199
---------
---------
112,588
100,590
---------
---------
7. Directors' advances, credits and guarantees
The directors loan account remained in credit throughout the current year. There were no guarantees in the year.
8. Related party transactions
The company made a gift of £302,000 (2022: £527,750) to the Better Placed Employee Ownership Trust. Future gifts will be made at the discretion of the company Directors based on available cashflows and the performance of the business.
9. Controlling party
The company is controlled by the Better Placed Trustees Limited, being the trustee of Better Placed Employee Ownership Trust.