Registered number
11206900
Pareda Recruitment Ltd
Filleted Accounts
29 February 2024
Pareda Recruitment Ltd
Report to the directors on the preparation of the unaudited statutory accounts of Pareda Recruitment Ltd for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pareda Recruitment Ltd for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
1st Cloud Accountants
1st Cloud Accountants
Chartered Certified Accountants
Analysis House
117-119 Sea Road
Sunderland
Tyne and Wear
SR6 9EQ
28 November 2024
Pareda Recruitment Ltd
Registered number: 11206900
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,314 2,893
Current assets
Stocks 16,896 1,000
Debtors 4 54,016 36,672
Cash at bank and in hand 96,020 92,277
166,932 129,949
Creditors: amounts falling due within one year 5 (161,369) (110,570)
Net current assets 5,563 19,379
Total assets less current liabilities 7,877 22,272
Creditors: amounts falling due after more than one year 6 (7,030) (12,272)
Provisions for liabilities (440) (550)
Net assets 407 9,450
Capital and reserves
Called up share capital 100 100
Profit and loss account 307 9,350
Shareholders' funds 407 9,450
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Brown
Director
Approved by the board on 29 November 2024
Pareda Recruitment Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 20% reducing balance
Fixtures and Fittings 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 36
3 Tangible fixed assets
Computer Equip. Fixtures & Fittings Total
£ £ £
Cost
At 1 March 2023 3,445 908 4,353
At 29 February 2024 3,445 908 4,353
Depreciation
At 1 March 2023 1,213 247 1,460
Charge for the year 447 132 579
At 29 February 2024 1,660 379 2,039
Net book value
At 29 February 2024 1,785 529 2,314
At 28 February 2023 2,232 661 2,893
4 Debtors 2024 2023
£ £
Trade debtors 32,106 16,462
Overdrawn Directors' loan accounts 17,870 20,035
Other debtors 4,040 175
54,016 36,672
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,242 5,242
Directors' loan accounts 5,645 2,111
Trade creditors 256 620
Taxation and social security costs 37,500 21,805
Other creditors 112,726 80,792
161,369 110,570
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,030 12,272
7 Related party transactions
The company provides an interest free loan facility to the directors of the company.

At the beginning of the accounts period, Pareda Recruitment Ltd was owed £20,035 (2022 was £9,158) from Mr Paul Brown. During the financial year, an additional £66,014 was advanced of which £68,179 has been repaid. The balance owing to Pareda Recruitment Ltd from Mr Paul Brown was £17,870 at the year end. The maximum loan amount at any point during the financial period was £29,773.
8 Other information
Pareda Recruitment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Sunderland Software Centre
Tavistock Place
Sunderland
Tyne and Wear
SR1 1PB.
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