Silverfin false false 31/08/2024 23/08/2023 31/08/2024 G Sims 12/12/2023 K Trott 23/08/2023 R Trott 23/08/2023 S Tutton 12/12/2023 28 October 2024 The principal activity of the Company during the financial year was recruitment services. 15090974 2024-08-31 15090974 bus:Director1 2024-08-31 15090974 bus:Director2 2024-08-31 15090974 bus:Director3 2024-08-31 15090974 bus:Director4 2024-08-31 15090974 core:CurrentFinancialInstruments 2024-08-31 15090974 core:ShareCapital 2024-08-31 15090974 core:RetainedEarningsAccumulatedLosses 2024-08-31 15090974 2023-08-23 2024-08-31 15090974 bus:FilletedAccounts 2023-08-23 2024-08-31 15090974 bus:SmallEntities 2023-08-23 2024-08-31 15090974 bus:AuditExemptWithAccountantsReport 2023-08-23 2024-08-31 15090974 bus:PrivateLimitedCompanyLtd 2023-08-23 2024-08-31 15090974 bus:Director1 2023-08-23 2024-08-31 15090974 bus:Director2 2023-08-23 2024-08-31 15090974 bus:Director3 2023-08-23 2024-08-31 15090974 bus:Director4 2023-08-23 2024-08-31 iso4217:GBP xbrli:pure

Company No: 15090974 (England and Wales)

PORTWELL RECRUITMENT LIMITED

Unaudited Financial Statements
For the financial period from 23 August 2023 to 31 August 2024
Pages for filing with the registrar

PORTWELL RECRUITMENT LIMITED

Unaudited Financial Statements

For the financial period from 23 August 2023 to 31 August 2024

Contents

PORTWELL RECRUITMENT LIMITED

BALANCE SHEET

As at 31 August 2024
PORTWELL RECRUITMENT LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024
£
Current assets
Debtors 3 41,587
Cash at bank and in hand 114,556
156,143
Creditors: amounts falling due within one year 4 ( 51,881)
Net current assets 104,262
Total assets less current liabilities 104,262
Net assets 104,262
Capital and reserves
Called-up share capital 100
Profit and loss account 104,162
Total shareholders' funds 104,262

For the financial period ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Portwell Recruitment Limited (registered number: 15090974) were approved and authorised for issue by the Board of Directors on 28 October 2024. They were signed on its behalf by:

R Trott
Director
PORTWELL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 August 2023 to 31 August 2024
PORTWELL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 August 2023 to 31 August 2024
1. Accounting policies

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

General information and basis of accounting

Portwell 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 period. Differences between contributions payable in the financial period 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. Tax is recognised in the profit and loss account, 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.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
23.08.2023 to
31.08.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 5

3. Debtors

31.08.2024
£
Trade debtors 340
Other debtors 41,247
41,587

4. Creditors: amounts falling due within one year

31.08.2024
£
Trade creditors 165
Taxation and social security 48,519
Other creditors 3,197
51,881