14 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12245291 2023-04-01 2024-03-31 12245291 2024-03-31 12245291 2023-03-31 12245291 2022-04-01 2023-03-31 12245291 2023-03-31 12245291 2022-03-31 12245291 core:NetGoodwill 2023-04-01 2024-03-31 12245291 bus:Director1 2023-04-01 2024-03-31 12245291 core:NetGoodwill 2023-03-31 12245291 core:NetGoodwill 2024-03-31 12245291 core:WithinOneYear 2024-03-31 12245291 core:WithinOneYear 2023-03-31 12245291 core:ShareCapital 2024-03-31 12245291 core:ShareCapital 2023-03-31 12245291 core:RetainedEarningsAccumulatedLosses 2024-03-31 12245291 core:RetainedEarningsAccumulatedLosses 2023-03-31 12245291 core:NetGoodwill 2023-03-31 12245291 bus:SmallEntities 2023-04-01 2024-03-31 12245291 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12245291 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12245291 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12245291 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 12245291
CG RECRUITMENT LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 March 2024
Kilworth Accountancy Limited
Oak Tree House
North Road
South Kilworth
Lutterworth
Leicestershire
LE17 6DU
CG RECRUITMENT LIMITED
CONTENTS
Statement of financial position
Notes to the financial statements
CG RECRUITMENT LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 4,667 12,667
_______ _______
4,667 12,667
Current assets
Debtors 6 51,530 8,106
Cash at bank and in hand 6,004 96,746
_______ _______
57,534 104,852
Creditors: amounts falling due
within one year 7 ( 12,884) ( 54,915)
_______ _______
Net current assets 44,650 49,937
_______ _______
Total assets less current liabilities 49,317 62,604
_______ _______
Net assets 49,317 62,604
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 49,315 62,602
_______ _______
Shareholders funds 49,317 62,604
_______ _______
For the 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.
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 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 October 2024 , and are signed on behalf of the board by:
NQ Rolfe
Director
Company registration number: 12245291
CG RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the Registered Office is 7a Tekels Park, Camberley, Surrey, GU15 2LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity and are presented in round pounds.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 14 (2023: 9 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2023 and 31 March 2024 40,000 40,000
_______ _______
Amortisation
At 1 April 2023 27,333 27,333
Charge for the year 8,000 8,000
_______ _______
At 31 March 2024 35,333 35,333
_______ _______
Carrying amount
At 31 March 2024 4,667 4,667
_______ _______
At 31 March 2023 12,667 12,667
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 18,193 8,106
Amounts owed by group undertakings and undertakings in which the company has a participating interest 32,478 -
Other debtors 859 -
_______ _______
51,530 8,106
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 6 903
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 42,522
Corporation tax - 9,114
Social security and other taxes 6,168 1,443
Other creditors 6,710 933
_______ _______
12,884 54,915
_______ _______