2023-03-012024-02-292024-02-29false10630279PADSTONE RECRUITMENT 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PADSTONE RECRUITMENT LIMITED

Registered Number
10630279
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

PADSTONE RECRUITMENT LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

ANGUS, Wesley David

Registered Address

1 Widcombe Street
Poundbury
Dorchester
DT1 3BS

Registered Number

10630279 (England and Wales)
PADSTONE RECRUITMENT LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets423348
23348
Current assets
Debtors475,040671,741
Cash at bank and on hand112,065111,539
587,105783,280
Creditors amounts falling due within one year5(499,539)(669,927)
Net current assets (liabilities)87,566113,353
Total assets less current liabilities87,589113,701
Creditors amounts falling due after one year6(22,500)(32,496)
Provisions for liabilities7(6)(6)
Net assets65,08381,199
Capital and reserves
Called up share capital1010
Profit and loss account65,07381,189
Shareholders' funds65,08381,199
The financial statements were approved and authorised for issue by the Director on 12 July 2024, and are signed on its behalf by:
ANGUS, Wesley David
Director
Registered Company No. 10630279
PADSTONE RECRUITMENT LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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 stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Fixtures and fittings3
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year45
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 23450450
At 29 February 24450450
Amortisation and impairment
At 01 March 23450450
At 29 February 24450450
Net book value
At 29 February 24--
At 28 February 23--
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 231,60510,0181,27912,902
At 29 February 241,60510,0181,27912,902
Depreciation and impairment
At 01 March 231,6059,7881,16112,554
Charge for year-207118325
At 29 February 241,6059,9951,27912,879
Net book value
At 29 February 24-23-23
At 28 February 23-230118348
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables393,446571,853
Taxation and social security42,99638,845
Accrued liabilities and deferred income63,09759,229
Total499,539669,927
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts22,50032,496
Total22,50032,496
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)66
Total66