Company registration number 13983995 (England and Wales)
OVERWATCH RECRUITMENT & CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
OVERWATCH RECRUITMENT & CONSULTANCY LTD
COMPANY INFORMATION
Director
Mr D J Clark
Company number
13983995
Registered office
Kingsnorth House
Blenheim Way
Kingstanding
Birmingham
West Midlands
United Kingdom
B44 8LS
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
OVERWATCH RECRUITMENT & CONSULTANCY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
OVERWATCH RECRUITMENT & CONSULTANCY LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OVERWATCH RECRUITMENT & CONSULTANCY LTD FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Overwatch Recruitment & Consultancy Ltd for the year ended 31 March 2024 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Overwatch Recruitment & Consultancy Ltd, as a body, in accordance with the terms of our engagement letter dated 23 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Overwatch Recruitment & Consultancy Ltd and state those matters that we have agreed to state to the board of directors of Overwatch Recruitment & Consultancy Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Overwatch Recruitment & Consultancy Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Overwatch Recruitment & Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Overwatch Recruitment & Consultancy Ltd. You consider that Overwatch Recruitment & Consultancy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Overwatch Recruitment & Consultancy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited
27 November 2024
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
OVERWATCH RECRUITMENT & CONSULTANCY LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,011
-
0
Current assets
Cash at bank and in hand
3,036
1
Creditors: amounts falling due within one year
5
(5,309)
-
0
Net current (liabilities)/assets
(2,273)
1
Net (liabilities)/assets
(1,262)
1
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(1,263)
-
0
Total equity
(1,262)
1

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
Mr D J Clark
Director
Company registration number 13983995 (England and Wales)
OVERWATCH RECRUITMENT & CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Overwatch Recruitment & Consultancy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Kingstanding, Birmingham, West Midlands, United Kingdom, B44 8LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Rolling Balance
Computers
20% Rolling Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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 current liabilities.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

OVERWATCH RECRUITMENT & CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
-
0
-
0
-
0
Additions
250
824
1,074
At 31 March 2024
250
824
1,074
Depreciation and impairment
At 1 April 2023
-
0
-
0
-
0
Depreciation charged in the year
25
38
63
At 31 March 2024
25
38
63
Carrying amount
At 31 March 2024
225
786
1,011
At 31 March 2023
-
0
-
0
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
219
-
0
Other creditors
4,370
-
0
Accruals and deferred income
720
-
0
5,309
-
0
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
OVERWATCH RECRUITMENT & CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Related party transactions

During the year, the director, Mr D J Clark, advanced loans to the company of £4,825 to assist with the operating and working cash flow. At the year end the company owed Mr D J Clark £4,370. These loans and advances from the Director are repayable on demand and have no specific terms regarding the payment of interest. The company has received assurances from the Director that he will continue to support the company as necessary and will not seek repayment of such loans and advances in full until such time as the company can afford to do so without detriment to its operating and working cash flow and to other external creditors.

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