2023-01-012023-12-312023-12-31false11689195Recruit Payroll 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Recruit Payroll Limited

Registered Number
11689195
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Recruit Payroll Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Gentry, Mark

Registered Address

Office 16 & 17 Riverside Mountbatten Way
Congleton
CW12 1DY

Registered Number

11689195 (England and Wales)
Recruit Payroll Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3268,221176,149
Tangible assets418,41827,751
286,639203,900
Current assets
Debtors97,36036,581
Cash at bank and on hand88,680-
186,04036,581
Creditors amounts falling due within one year5(445,992)(243,117)
Net current assets (liabilities)(259,952)(206,536)
Total assets less current liabilities26,687(2,636)
Creditors amounts falling due after one year6(69,879)(95,032)
Provisions for liabilities8(4,392)(6,937)
Net assets(47,584)(104,605)
Capital and reserves
Called up share capital100100
Profit and loss account(47,684)(104,705)
Shareholders' funds(47,584)(104,605)
The financial statements were approved and authorised for issue by the Director on 24 September 2024, and are signed on its behalf by:
Gentry, Mark
Director
Registered Company No. 11689195
Recruit Payroll Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill is being amortised evenly over its estimated useful life of five years. Computer software is being amortised evenly over its estimated useful life of four years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Vehicles5
Office Equipment5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year67
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 2340,000181,128221,128
Additions-193,806193,806
At 31 December 2340,000374,934414,934
Amortisation and impairment
At 01 January 2324,66720,31244,979
Charge for year8,00093,734101,734
At 31 December 2332,667114,046146,713
Net book value
At 31 December 237,333260,888268,221
At 31 December 2215,333160,816176,149
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 2351,2791,933-53,212
Additions--1,6371,637
At 31 December 2351,2791,9331,63754,849
Depreciation and impairment
At 01 January 2324,785676-25,461
Charge for year10,25638732710,970
At 31 December 2335,0411,06332736,431
Net book value
At 31 December 2316,2388701,31018,418
At 31 December 2226,4941,257-27,751
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables65,48366,695
Bank borrowings and overdrafts20,00041,569
Taxation and social security102,86744,879
Finance lease and HP contracts7,3827,382
Other creditors245,76375,796
Accrued liabilities and deferred income4,4976,796
Total445,992243,117
The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance lease is secured on the assets covered.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts43,33363,333
Other creditors26,54631,699
Total69,87995,032
The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance lease is secured on the assets covered.
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts26,54631,699
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,3926,937
Total4,3926,937