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Company No: 10662372 (England and Wales)

BUSY BEE RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BUSY BEE RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BUSY BEE RECRUITMENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
BUSY BEE RECRUITMENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mrs K.M. Bysouth
REGISTERED OFFICE 7b Regal Lane
Soham
Ely
Cambridgeshire
CB7 5EA
United Kingdom
BUSINESS ADDRESS 7b Regal Lane
Soham
Ely
Cambridgeshire
CB7 5EA
United Kingdom
COMPANY NUMBER 10662372 (England and Wales)
ACCOUNTANT Corbett Accountants Limited
Bakersfield
82 Station Road
Soham
Ely
Cambridgeshire
CB7 5DZ
BUSY BEE RECRUITMENT LIMITED

BALANCE SHEET

As at 31 March 2024
BUSY BEE RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 24,308 31,800
24,308 31,800
Current assets
Debtors 4 200,890 168,235
Cash at bank and in hand 267,331 276,749
468,221 444,984
Creditors: amounts falling due within one year 5 ( 159,451) ( 142,717)
Net current assets 308,770 302,267
Total assets less current liabilities 333,078 334,067
Creditors: amounts falling due after more than one year 6 ( 17,500) ( 27,420)
Provision for liabilities 7 ( 5,390) ( 5,956)
Net assets 310,188 300,691
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 310,088 300,591
Total shareholders' funds 310,188 300,691

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Busy Bee Recruitment Limited (registered number: 10662372) were approved and authorised for issue by the Director on 09 August 2024. They were signed on its behalf by:

Mrs K.M. Bysouth
Director
BUSY BEE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BUSY BEE RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Busy Bee 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 7b Regal Lane, Soham, Ely, Cambridgeshire, CB7 5EA, United Kingdom. The principal place of business is 7b Regal Lane, Soham, Ely, Cambridgeshire, CB7 5EA, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 20 % 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.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 85 78

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2023 54,031 54,031
Disposals ( 2,588) ( 2,588)
At 31 March 2024 51,443 51,443
Accumulated depreciation
At 01 April 2023 22,231 22,231
Charge for the financial year 6,071 6,071
Disposals ( 1,167) ( 1,167)
At 31 March 2024 27,135 27,135
Net book value
At 31 March 2024 24,308 24,308
At 31 March 2023 31,800 31,800

4. Debtors

2024 2023
£ £
Trade debtors 105,751 93,396
Other debtors 95,139 74,839
200,890 168,235

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,080
Trade creditors 9,969 6,176
Amounts owed to director 496 4,733
Corporation tax 21,232 27,475
Other taxation and social security 99,174 91,267
Other creditors 18,580 2,986
159,451 142,717

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

2024 2023
£ £
Bank loans 17,500 27,420

Keen Thinking Limited has a fixed and floating charge over the company's property. The company's secured liabilities are £27,500 ( 2023 - £37,500).

7. Provision for liabilities

2024 2023
£ £
Deferred tax 5,390 5,956

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary B shares of £ 1.00 each 10 10
90 Ordinary A shares of £ 1.00 each 90 90
100 100

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
The director charged the company for use of office during the year. 3,000 1,800
Included in creditors is a director's loan. The loan is interest free and there are no repayment terms. 496 4,733
Dividends were paid in the year in respect of the shares held by the company's director. 32,500 34,000