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Ritz Recruitment Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01866661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,151 44,059
30,151 44,059
CURRENT ASSETS
Stocks 35,000 35,000
Debtors 5 456,893 330,581
Cash at bank and in hand 145,748 537,330
637,641 902,911
Creditors: Amounts Falling Due Within One Year 6 (140,384 ) (177,043 )
NET CURRENT ASSETS (LIABILITIES) 497,257 725,868
TOTAL ASSETS LESS CURRENT LIABILITIES 527,408 769,927
NET ASSETS 527,408 769,927
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 527,208 769,727
SHAREHOLDERS' FUNDS 527,408 769,927
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
C J Hush
Director
18 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ritz Recruitment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01866661 . The registered office is 105-109 Bishopsgate, 2nd Floor, London, EC2M 3UE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.4. Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 material 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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.7. Invoice Discounting
The company has an invoice discounting arrangement. The amount owed by customers are included within trade debtors. The amount owed from/to the discounting company, which represents the difference between the amounts advanced by the invoice discounting company and the invoices discounted by the invoice discounting company, is included within debtors/creditors.
The interest element of the invoice discounting charges and other related costs are recognised as they accrue and are included in the statement of income and retained earnings.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 29,679 70,824 100,503
Additions - 7,361 7,361
As at 31 July 2024 29,679 78,185 107,864
Depreciation
As at 1 August 2023 10,380 46,064 56,444
Provided during the period 5,936 15,333 21,269
As at 31 July 2024 16,316 61,397 77,713
Net Book Value
As at 31 July 2024 13,363 16,788 30,151
As at 1 August 2023 19,299 24,760 44,059
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 317,170 252,235
Other debtors 139,723 78,346
456,893 330,581
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,948 5,970
Other creditors 12,064 11,539
Taxation and social security 124,372 159,534
140,384 177,043
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 54,550 54,550
Later than one year and not later than five years 9,092 63,642
63,642 118,192
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