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Registered number: 12619468
United Recruitment Group Limited
Financial Statements
For The Year Ended 30 June 2024
Account4 Ltd
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12619468
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,917 27,902
Tangible Assets 5 17,829 17,483
Investments 6 94,894 95,825
136,640 141,210
CURRENT ASSETS
Debtors 7 313,916 194,210
Cash at bank and in hand 151,572 233,279
465,488 427,489
Creditors: Amounts Falling Due Within One Year 8 (212,289 ) (198,505 )
NET CURRENT ASSETS (LIABILITIES) 253,199 228,984
TOTAL ASSETS LESS CURRENT LIABILITIES 389,839 370,194
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,457 ) (4,371 )
NET ASSETS 385,382 365,823
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 385,182 365,623
SHAREHOLDERS' FUNDS 385,382 365,823
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Tisdell
Director
Mr Samuel Wild
Director
8th October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
United Recruitment Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12619468 . The registered office is First Floor, Unit 6 , Topaz Way, Bromsgrove, B61 0GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Straight Line
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7.
Investments in subsidiary undertakings and other unlisted investments are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 12)
14 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 39,857
As at 30 June 2024 39,857
Amortisation
As at 1 July 2023 11,955
Provided during the period 3,985
As at 30 June 2024 15,940
Net Book Value
As at 30 June 2024 23,917
As at 1 July 2023 27,902
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 7,443 25,000 32,443
Additions 6,157 1,336 7,493
As at 30 June 2024 13,600 26,336 39,936
Depreciation
As at 1 July 2023 3,575 11,385 14,960
Provided during the period 1,813 5,334 7,147
As at 30 June 2024 5,388 16,719 22,107
Net Book Value
As at 30 June 2024 8,212 9,617 17,829
As at 1 July 2023 3,868 13,615 17,483
Page 4
Page 5
6. Investments
Subsidiaries
£
Cost
As at 1 July 2023 95,825
Additions 75
Revaluations (1,006 )
As at 30 June 2024 94,894
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 94,894
As at 1 July 2023 95,825
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 178,394 36,868
Prepayments and accrued income 45,696 145,045
Other debtors - 10,975
Directors' loan accounts 35,026 1,322
Amounts owed by subsidiaries 29,800 -
Amounts owed by associates 25,000 -
313,916 194,210
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,978 46,035
Other loans 110,314 -
Corporation tax 49,655 74,639
Other taxes and social security 5,675 7,512
VAT 16,437 25,244
Other creditors 1,862 158
Accruals and deferred income 13,119 19,691
Directors' loan accounts 3,249 7,113
Amounts owed to subsidiaries - 18,113
212,289 198,505
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 5