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REGISTERED NUMBER: 07362955 (England and Wales)
























THINK SPECIALIST RECRUITMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THINK SPECIALIST RECRUITMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C Jones
L Jones





REGISTERED OFFICE: 6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD





REGISTERED NUMBER: 07362955 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,125 -

CURRENT ASSETS
Debtors 5 361,359 272,678
Cash at bank 1,146,149 990,184
1,507,508 1,262,862
CREDITORS
Amounts falling due within one year 6 488,141 413,737
NET CURRENT ASSETS 1,019,367 849,125
TOTAL ASSETS LESS CURRENT LIABILITIES 1,101,492 849,125

CREDITORS
Amounts falling due after more than one
year

7

(51,324

)

-

PROVISIONS FOR LIABILITIES (20,531 ) -
NET ASSETS 1,029,637 849,125

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,028,637 848,125
1,029,637 849,125

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.

THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

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 25 September 2024 and were signed on its behalf by:





C Jones - Director


THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Think Specialist 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% 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 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.

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 91,674
At 31 December 2023 91,674
DEPRECIATION
Charge for year 9,549
At 31 December 2023 9,549
NET BOOK VALUE
At 31 December 2023 82,125

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 354,216 267,895
Other debtors 7,143 4,783
361,359 272,678

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 450 -
Trade creditors 12,435 4,999
Taxation and social security 382,249 328,695
Other creditors 93,007 80,043
488,141 413,737

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 51,324 -

THINK SPECIALIST RECRUITMENT LTD (REGISTERED NUMBER: 07362955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. POST BALANCE SHEET EVENTS

On the 4 March 2024 90% of the of the ordinary share capital was transferred to an Employee Ownership Trust (Tsr Eot Limited) for the benefit of the employees.

9. ULTIMATE CONTROLLING PARTY

At the date of the balance sheet, C Jones was the ultimate controlling party. On the 4 March 2024 the shares were transferred and Tsr Eot Limited became the ultimate controlling party.