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Registration number: 12554552

Front Row Recruitment Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Front Row Recruitment Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Front Row Recruitment Ltd

Company Information

Director

S B Paget

Registered office

23 Abinger Avenue
Cheam
Sutton
Surrey
SM2 7LJ

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Front Row Recruitment Ltd

(Registration number: 12554552)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

4

12,500

12,027

Other financial assets

5

12,850

12,850

 

25,350

24,877

Current assets

 

Receivables

6

22,101

34,904

Cash at bank and in hand

 

291,068

327,993

 

313,169

362,897

Payables: Amounts falling due within one year

7

(32,373)

(64,522)

Net current assets

 

280,796

298,375

Total assets less current liabilities

 

306,146

323,252

Provisions for liabilities

(1,183)

(1,579)

Net assets

 

304,963

321,673

Equity

 

Called up share capital

8

101

101

Retained earnings

304,862

321,572

Shareholders' funds

 

304,963

321,673

For the financial year ending 30 April 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

The financial statements of Front Row Recruitment Ltd were approved and authorised for issue by the director on 18 November 2024

 

Front Row Recruitment Ltd

(Registration number: 12554552)
Statement of Financial Position as at 30 April 2024 (continued)

.........................................

S B Paget Director

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

1

General information

Front Row Recruitment Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 2).

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

4

Property, plant and equipment

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

6,667

2,531

6,542

15,740

Additions

3,025

440

-

3,465

At 30 April 2024

9,692

2,971

6,542

19,205

Depreciation

At 1 May 2023

957

1,339

1,417

3,713

Charge for the year

969

715

1,308

2,992

At 30 April 2024

1,926

2,054

2,725

6,705

Carrying amount

At 30 April 2024

7,766

917

3,817

12,500

At 30 April 2023

5,710

1,192

5,125

12,027

5

Investments

Investments at cost less impairment
£

Investments

Cost or valuation

At 1 May 2023

12,850

At 30 April 2024

12,850

Carrying amount

At 30 April 2024

12,850

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

6

Receivables

2024
£

2023
£

Trade receivables

18,379

33,739

Accrued income

3,722

1,165

22,101

34,904

7

Payables

Note

2024
£

2023
£

Due within one year

 

Social security and other taxes

 

10,770

16,227

Other payables

 

6,819

43

Accruals

 

1,080

1,025

Income tax liability

13,704

47,227

 

32,373

64,522

8

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1

100

100

100

100

Ordinary A share of £1

1

1

1

1

 

101

101

101

101


Shareholder rights
Different rates of dividends may be declared and dividends may be declared for one class of share and not for the other classes.

The shares rank pari passu in all other respects.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

 

Front Row Recruitment Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024 (continued)

9

Related party transactions

As at 30 April 2024 the director, S B Paget was owed £6,819 (2023:£43) by the company. The loan is interest free and has no fixed repayment date or repayment schedule.