Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs K M McCarthy-Booth 20/09/2004 Mr I McMullin 20/08/2024 20/02/2014 16 September 2024 The principal activity of the company continued to be that of specialist retail recruitment consultancy. 05235393 2024-03-31 05235393 bus:Director1 2024-03-31 05235393 bus:Director2 2024-03-31 05235393 2023-03-31 05235393 core:CurrentFinancialInstruments 2024-03-31 05235393 core:CurrentFinancialInstruments 2023-03-31 05235393 core:Non-currentFinancialInstruments 2024-03-31 05235393 core:Non-currentFinancialInstruments 2023-03-31 05235393 core:ShareCapital 2024-03-31 05235393 core:ShareCapital 2023-03-31 05235393 core:RetainedEarningsAccumulatedLosses 2024-03-31 05235393 core:RetainedEarningsAccumulatedLosses 2023-03-31 05235393 core:OfficeEquipment 2023-03-31 05235393 core:ComputerEquipment 2023-03-31 05235393 core:OfficeEquipment 2024-03-31 05235393 core:ComputerEquipment 2024-03-31 05235393 2023-04-01 2024-03-31 05235393 bus:FilletedAccounts 2023-04-01 2024-03-31 05235393 bus:SmallEntities 2023-04-01 2024-03-31 05235393 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05235393 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05235393 bus:Director1 2023-04-01 2024-03-31 05235393 bus:Director2 2023-04-01 2024-03-31 05235393 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 05235393 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 05235393 2022-04-01 2023-03-31 05235393 core:OfficeEquipment 2023-04-01 2024-03-31 05235393 core:ComputerEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 05235393 (England and Wales)

MCCARTHY RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MCCARTHY RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MCCARTHY RECRUITMENT LIMITED

BALANCE SHEET

As at 31 March 2024
MCCARTHY RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 13,850 18,318
13,850 18,318
Current assets
Debtors
- due within one year 4 187,817 297,835
- due after more than one year 4 1,149,400 0
Cash at bank and in hand 82,122 165,464
1,419,339 463,299
Creditors: amounts falling due within one year 5 ( 118,659) ( 214,735)
Net current assets 1,300,680 248,564
Total assets less current liabilities 1,314,530 266,882
Creditors: amounts falling due after more than one year 6 ( 1,149,400) 0
Provision for liabilities 7 ( 3,463) ( 4,018)
Net assets 161,667 262,864
Capital and reserves
Called-up share capital 5,000 5,000
Profit and loss account 156,667 257,864
Total shareholder's funds 161,667 262,864

For the financial 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.

Director's responsibilities:

The financial statements of McCarthy Recruitment Limited (registered number: 05235393) were approved and authorised for issue by the Director on 16 September 2024. They were signed on its behalf by:

Mrs K M McCarthy-Booth
Director
MCCARTHY RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MCCARTHY RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

McCarthy Recruitment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Olympic Park Olympic Way, Birchwood, Warrington, WA2 0YL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 18 20

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 April 2023 266,198 91,192 357,390
Additions 3,344 825 4,169
At 31 March 2024 269,541 92,017 361,558
Accumulated depreciation
At 01 April 2023 253,594 85,478 339,072
Charge for the financial year 4,686 3,949 8,635
At 31 March 2024 258,280 89,428 347,708
Net book value
At 31 March 2024 11,261 2,589 13,850
At 31 March 2023 12,604 5,714 18,318

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 112,006 260,024
Other debtors 75,811 37,811
187,817 297,835
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 1,149,400 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 45,030 41,232
Taxation and social security 54,236 149,880
Other creditors 19,393 23,623
118,659 214,735

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 1,149,400 0

7. Provision for liabilities

2024 2023
£ £
Deferred tax 3,463 4,018