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REGISTERED NUMBER: 08760522 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Multistaff Recruitment Solutions Limited

Multistaff Recruitment Solutions Limited (Registered number: 08760522)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Multistaff Recruitment Solutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Ellson
J P Sutton
Mrs G Ellson





REGISTERED OFFICE: 12 The Croft
Buntsford Drive
Bromsgrove
Worcestershire
B60 4JE





REGISTERED NUMBER: 08760522 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Multistaff Recruitment Solutions Limited (Registered number: 08760522)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,035 75,055

CURRENT ASSETS
Debtors 5 769,603 623,241
Cash at bank and in hand 15,332 22,762
784,935 646,003
CREDITORS
Amounts falling due within one year 6 678,089 417,925
NET CURRENT ASSETS 106,846 228,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,881

303,133

CREDITORS
Amounts falling due after more than one year 7 (56,250 ) (131,250 )

PROVISIONS FOR LIABILITIES (12,450 ) (13,350 )
NET ASSETS 92,181 158,533

CAPITAL AND RESERVES
Called up share capital 71 71
Capital redemption reserve 29 29
Retained earnings 92,081 158,433
SHAREHOLDERS' FUNDS 92,181 158,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 2 August 2024 and were signed on its behalf by:



P Ellson - Director


Multistaff Recruitment Solutions Limited (Registered number: 08760522)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Multistaff Recruitment Solutions Limited 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.
Fixtures and fittings - 10% to 20% on cost
Computer equipment - 15 % to 33% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 14 ) .

Multistaff Recruitment Solutions Limited (Registered number: 08760522)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 29,031 122,700 151,731
Additions 2,020 7,846 9,866
At 31 March 2024 31,051 130,546 161,597
DEPRECIATION
At 1 April 2023 5,671 71,005 76,676
Charge for year 3,025 27,861 30,886
At 31 March 2024 8,696 98,866 107,562
NET BOOK VALUE
At 31 March 2024 22,355 31,680 54,035
At 31 March 2023 23,360 51,695 75,055

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 659,300 500,652
Amounts owed by group undertakings 73,912 73,294
Other debtors 36,391 49,295
769,603 623,241

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 75,000 75,000
Trade creditors 140,518 80,797
Taxation and social security 155,654 79,842
Other creditors 306,917 182,286
678,089 417,925

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 56,250 131,250

Multistaff Recruitment Solutions Limited (Registered number: 08760522)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 131,250 206,250
Invoice discounting 315,148 168,027
446,398 374,277

Bank loans are secured by the way of a fixed and floating charge over all assets of the Company and a government-backed guarantee.

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the end of the year was £nil (2023: £21,800).