Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Daniel Frazer Jarrold 20/05/2016 Joshua Peacock 01/08/2016 24 September 2024 The principle activity of the company continued to be that of recruitment services. 07299816 2023-12-31 07299816 bus:Director1 2023-12-31 07299816 bus:Director2 2023-12-31 07299816 2022-12-31 07299816 core:CurrentFinancialInstruments 2023-12-31 07299816 core:CurrentFinancialInstruments 2022-12-31 07299816 core:Non-currentFinancialInstruments 2023-12-31 07299816 core:Non-currentFinancialInstruments 2022-12-31 07299816 core:ShareCapital 2023-12-31 07299816 core:ShareCapital 2022-12-31 07299816 core:CapitalRedemptionReserve 2023-12-31 07299816 core:CapitalRedemptionReserve 2022-12-31 07299816 core:RetainedEarningsAccumulatedLosses 2023-12-31 07299816 core:RetainedEarningsAccumulatedLosses 2022-12-31 07299816 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07299816 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07299816 core:OtherPropertyPlantEquipment 2022-12-31 07299816 core:OtherPropertyPlantEquipment 2023-12-31 07299816 bus:OrdinaryShareClass1 2023-12-31 07299816 bus:OrdinaryShareClass2 2023-12-31 07299816 2023-01-01 2023-12-31 07299816 bus:FilletedAccounts 2023-01-01 2023-12-31 07299816 bus:SmallEntities 2023-01-01 2023-12-31 07299816 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07299816 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07299816 bus:Director1 2023-01-01 2023-12-31 07299816 bus:Director2 2023-01-01 2023-12-31 07299816 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-01-01 2023-12-31 07299816 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07299816 2022-01-01 2022-12-31 07299816 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07299816 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 07299816 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07299816 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 07299816 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07299816 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07299816 (England and Wales)

CLEARFIELD RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CLEARFIELD RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CLEARFIELD RECRUITMENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
CLEARFIELD RECRUITMENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Daniel Frazer Jarrold
Joshua Peacock
REGISTERED OFFICE Unit 10a Hill View Business Park Old Ipswich Road
Claydon
Ipswich
IP6 0AJ
England
United Kingdom
COMPANY NUMBER 07299816 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
CLEARFIELD RECRUITMENT LIMITED

BALANCE SHEET

As at 31 December 2023
CLEARFIELD RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 10,774 20,206
Tangible assets 4 56,112 67,852
66,886 88,058
Current assets
Debtors 5 2,759,027 2,844,875
Investments 100 100
Cash at bank and in hand 40,556 30,242
2,799,683 2,875,217
Creditors: amounts falling due within one year 6 ( 2,357,018) ( 2,410,141)
Net current assets 442,665 465,076
Total assets less current liabilities 509,551 553,134
Creditors: amounts falling due after more than one year 7 ( 50,000) ( 50,000)
Provision for liabilities ( 10,661) ( 12,892)
Net assets 448,890 490,242
Capital and reserves
Called-up share capital 8 204 204
Capital redemption reserve ( 389,970 ) ( 389,970 )
Profit and loss account 838,656 880,008
Total shareholders' funds 448,890 490,242

For the financial year ending 31 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 financial statements of Clearfield Recruitment Limited (registered number: 07299816) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Daniel Frazer Jarrold
Director
CLEARFIELD RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CLEARFIELD RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clearfield Recruitment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 10a Hill View Business Park Old Ipswich Road, Claydon, Ipswich, IP6 0AJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

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 the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 15

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2023 47,160 47,160
At 31 December 2023 47,160 47,160
Accumulated amortisation
At 01 January 2023 26,954 26,954
Charge for the financial year 9,432 9,432
At 31 December 2023 36,386 36,386
Net book value
At 31 December 2023 10,774 10,774
At 31 December 2022 20,206 20,206

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 228,319 228,319
Additions 6,737 6,737
At 31 December 2023 235,056 235,056
Accumulated depreciation
At 01 January 2023 160,467 160,467
Charge for the financial year 18,477 18,477
At 31 December 2023 178,944 178,944
Net book value
At 31 December 2023 56,112 56,112
At 31 December 2022 67,852 67,852

5. Debtors

2023 2022
£ £
Trade debtors 2,252,257 2,554,676
Amounts owed by Group undertakings 433,524 200,279
Other debtors 73,246 89,920
2,759,027 2,844,875

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 90,201 188,600
Trade creditors 152,654 16,392
Taxation and social security 300,829 280,493
Other creditors 1,813,334 1,924,656
2,357,018 2,410,141

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 50,000 50,000

There is a fixed and floating charge held over the company assets by Amicus Commercial Finance No 1 Limited.

There is a fixed and floating charge held over the company assets by Barclays Security Trustee Limited.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2,000,000 Ordinary A shares of £ 0.0001 each 200 200
42,500 VN ordinary shares of £ 0.0001 each 4 4
204 204