Company registration number 07491361 (England and Wales)
PAVE RECRUIT LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
PAVE RECRUIT LTD
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PAVE RECRUIT LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -
The director presents his annual report and financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company is that of recruitment.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr Matthew Duffy
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Matthew Duffy
Director
14 May 2024
PAVE RECRUIT LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,536
6,315
Current assets
Debtors
5
91,155
45,802
Cash at bank and in hand
366,066
299,793
457,221
345,595
Creditors: amounts falling due within one year
6
(180,052)
(114,920)
Net current assets
277,169
230,675
Net assets
283,705
236,990
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
283,703
236,988
Total equity
283,705
236,990
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 14 May 2024
Mr Matthew Duffy
Director
Company registration number 07491361 (England and Wales)
PAVE RECRUIT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Pave Recruit Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 197 Victoria Road, London, N22 7XH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover represents amounts receivable for recruitment referral services provided net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
10% straight line
Computer equipment
20% straight line
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.4
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
PAVE RECRUIT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
(Continued)
- 4 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2023 - 4).
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
14,384
Additions
1,421
At 31 January 2024
15,805
Depreciation and impairment
At 1 February 2023
8,070
Depreciation charged in the year
1,199
At 31 January 2024
9,269
Carrying amount
At 31 January 2024
6,536
At 31 January 2023
6,315
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
35,192
27,532
Other debtors
55,963
18,270
91,155
45,802
PAVE RECRUIT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,829
812
Corporation tax
67,343
38,447
Other taxation and social security
57,219
20,540
Other creditors
47,661
55,121
180,052
114,920