IRIS Accounts Production v24.3.0.553 03947710 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039477102023-03-31039477102024-03-31039477102023-04-012024-03-31039477102022-03-31039477102022-04-012023-03-31039477102023-03-3103947710ns15:EnglandWales2023-04-012024-03-3103947710ns14:PoundSterling2023-04-012024-03-3103947710ns10:Director12023-04-012024-03-3103947710ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103947710ns10:SmallEntities2023-04-012024-03-3103947710ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103947710ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103947710ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103947710ns10:FullAccounts2023-04-012024-03-3103947710ns10:OrdinaryShareClass12023-04-012024-03-3103947710ns10:OrdinaryShareClass22023-04-012024-03-3103947710ns10:OrdinaryShareClass32023-04-012024-03-3103947710ns10:Director22023-04-012024-03-3103947710ns10:RegisteredOffice2023-04-012024-03-3103947710ns5:CurrentFinancialInstruments2024-03-3103947710ns5:CurrentFinancialInstruments2023-03-3103947710ns5:Non-currentFinancialInstruments2024-03-3103947710ns5:Non-currentFinancialInstruments2023-03-3103947710ns5:ShareCapital2024-03-3103947710ns5:ShareCapital2023-03-3103947710ns5:RetainedEarningsAccumulatedLosses2024-03-3103947710ns5:RetainedEarningsAccumulatedLosses2023-03-3103947710ns5:FurnitureFittings2023-04-012024-03-3103947710ns5:MotorVehicles2023-04-012024-03-3103947710ns5:ComputerEquipment2023-04-012024-03-3103947710ns5:FurnitureFittings2023-03-3103947710ns5:MotorVehicles2023-03-3103947710ns5:ComputerEquipment2023-03-3103947710ns5:FurnitureFittings2024-03-3103947710ns5:MotorVehicles2024-03-3103947710ns5:ComputerEquipment2024-03-3103947710ns5:FurnitureFittings2023-03-3103947710ns5:MotorVehicles2023-03-3103947710ns5:ComputerEquipment2023-03-3103947710ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103947710ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3103947710ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3103947710ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-03-3103947710ns5:Secured2024-03-3103947710ns5:Secured2023-03-3103947710ns5:DeferredTaxation2023-03-3103947710ns5:DeferredTaxation2023-04-012024-03-3103947710ns5:DeferredTaxation2024-03-3103947710ns10:OrdinaryShareClass12024-03-3103947710ns10:OrdinaryShareClass22024-03-3103947710ns10:OrdinaryShareClass32024-03-31
REGISTERED NUMBER: 03947710 (England and Wales)















INSPIRED RECRUITMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INSPIRED RECRUITMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S G Hickey
N J Hardisty





REGISTERED OFFICE: Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD





REGISTERED NUMBER: 03947710 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,391 29,627

CURRENT ASSETS
Debtors 5 2,446,874 2,955,364
Cash at bank 22,643 50,415
2,469,517 3,005,779
CREDITORS
Amounts falling due within one year 6 1,633,839 2,088,252
NET CURRENT ASSETS 835,678 917,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

858,069

947,154

CREDITORS
Amounts falling due after more than one
year

7

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES 9 (5,283 ) (1,868 )
NET ASSETS 841,119 923,619

CAPITAL AND RESERVES
Called up share capital 10 120 120
Retained earnings 840,999 923,499
SHAREHOLDERS' FUNDS 841,119 923,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2024 and were signed on its behalf by:





N J Hardisty - Director


INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Inspired Recruitment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Sales are recognised when the company obtains the right to consideration, which is normally as the underlying service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting
The company uses an invoice discounting facility and has adopted separate presentation whereby gross debts are included as an asset and the amount due to the invoice discounting company is included within creditors. The interest and charges are recognised as they accrue and are included in the profit and loss account.

Government grants
Grant income receivable under the Coronavirus Job Retention Scheme ("CJRS") is recognised in the Income Statement on a straight line basis over the furlough period for each relevant employee.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 44,486 8,000 82,816 135,302
Additions - - 2,553 2,553
At 31 March 2024 44,486 8,000 85,369 137,855
DEPRECIATION
At 1 April 2023 43,204 5,819 56,652 105,675
Charge for year 892 436 8,461 9,789
At 31 March 2024 44,096 6,255 65,113 115,464
NET BOOK VALUE
At 31 March 2024 390 1,745 20,256 22,391
At 31 March 2023 1,282 2,181 26,164 29,627

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,148,506 1,634,892
Amounts owed by group undertakings 967,698 996,901
Prepayments and accrued income 330,670 323,571
2,446,874 2,955,364

INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,144 11,089
Trade creditors 75,836 81,879
Amounts owed to group undertakings 1,302 1,302
Corporation tax 237,670 204,503
Social security and other taxes 10,420 (4,109 )
Value added tax 101,123 104,885
Other creditors 994,727 1,405,119
Accrued expenses 197,617 273,584
1,633,839 2,088,252

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - more than 1 yr 11,667 21,667

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,667 31,667
Invoice discounting advances 894,317 1,335,456
915,984 1,367,123

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,283 1,868

Deferred
tax
£   
Balance at 1 April 2023 1,868
Provided during year 3,415
Balance at 31 March 2024 5,283

INSPIRED RECRUITMENT LIMITED (REGISTERED NUMBER: 03947710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
120 120

11. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is H2 Group Investments Limited, a company registered in England and Wales, and controlled by S G Hickey and N Hardisty who own 100% of its share capital.