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REGISTERED NUMBER: 11743993 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Coltech Recruitment Ltd

Coltech Recruitment Ltd (Registered number: 11743993)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Coltech Recruitment Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Waites
C Martin





REGISTERED OFFICE: Office 1
Fairfied Business Park
Green Road
Penistone
S36 6FQ





REGISTERED NUMBER: 11743993 (England and Wales)





ACCOUNTANTS: Finoptus Consulting Limited
Office 1
Fairfield Business Park
Green Road
Penistone
South Yorkshire
S36 6FQ

Coltech Recruitment Ltd (Registered number: 11743993)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,611 41,354
Investments 5 812 812
21,423 42,166

CURRENT ASSETS
Debtors 6 2,007,963 2,025,832
Cash at bank 226,758 251,488
2,234,721 2,277,320
CREDITORS
Amounts falling due within one
year

7

1,434,431

1,794,020
NET CURRENT ASSETS 800,290 483,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

821,713

525,466

CREDITORS
Amounts falling due after more
than one year

8

(30,093

)

(35,469

)

PROVISIONS FOR LIABILITIES (3,916 ) (5,665 )
NET ASSETS 787,704 484,332

Coltech Recruitment Ltd (Registered number: 11743993)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 787,702 484,330
787,704 484,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Coltech Recruitment Ltd (Registered number: 11743993)

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





C Martin - Director


Coltech Recruitment Ltd (Registered number: 11743993)

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

1. STATUTORY INFORMATION

Coltech Recruitment Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the work is performed by a contractor or on the candidates start date for permanent placements.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their expected residual values over their useful lives on the following bases:

Fixtures and fittings : 33.33%
Computer equipment : 33.33%

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


Coltech Recruitment Ltd (Registered number: 11743993)

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

2. ACCOUNTING POLICIES - continued
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 tax
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Coltech Recruitment Ltd (Registered number: 11743993)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 24,201 49,987 74,188
Additions - 1,804 1,804
At 31 December 2023 24,201 51,791 75,992
DEPRECIATION
At 1 January 2023 6,704 26,130 32,834
Charge for year 8,067 14,480 22,547
At 31 December 2023 14,771 40,610 55,381
NET BOOK VALUE
At 31 December 2023 9,430 11,181 20,611
At 31 December 2022 17,497 23,857 41,354

Coltech Recruitment Ltd (Registered number: 11743993)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 812
NET BOOK VALUE
At 31 December 2023 812
At 31 December 2022 812

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 599,140 824,485
Amounts owed by group undertakings 999,851 728,848
Other debtors 408,972 472,499
2,007,963 2,025,832

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 615,864 722,653
Trade creditors 124,552 202,901
Taxation and social security 368,888 520,956
Other creditors 325,127 347,510
1,434,431 1,794,020

Coltech Recruitment Ltd (Registered number: 11743993)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Bank borrowings include advances under invoice factoring facilities of £512,464 (2022: £859,696) which are secured against trade debtors of £898,833 (2022: £1,165,209)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 30,093 35,469

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 yrs 7,871 13,246

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M Gilson
Balance outstanding at start of year - 74,372
Amounts advanced - 49,098
Amounts repaid - (123,470 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Coltech Recruitment Ltd (Registered number: 11743993)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P Waites
Balance outstanding at start of year - 63,628
Amounts advanced - 79,592
Amounts repaid - (143,220 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. RELATED PARTY DISCLOSURES

During the year the company charged NIL (2022: £28,809 ) to Coltech Consulting Limited. At 31 December 2023 the company was owed £2,873 (2022 : £2,873) by Coltech Consulting Limited, a company in which the directors indirectly hold 67% of the share capital.

During the year the company charged £646,468 (2022: £901,638) to Coltech Staffing Inc for management services. At 31 December 2023 the company was owed £999,851 (2022: £782,473) by Coltech Staffing Inc, a company in which Coltech Recruitment Limited owns 100% of the share capital.