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Registration number: 10125718

CPR Recruitment Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

CPR Recruitment Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 14

 

CPR Recruitment Limited

Company Information

Directors

Mr R Khoury

Mr T R Sutton

Mr L C Skeggs

Registered office

The Business Terrace
Maidstone House
Maidstone
Kent
ME15 6JQ

Accountants

Taylor Brooker Accountancy Limited Suite 122
70 Churchill Square
Kingshill
West Malling
Kent
ME19 4YU

 

CPR Recruitment Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr R Khoury

Mr T R Sutton

Mr L C Skeggs

Principal activity

The principal activity of the company is Employment Agency

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 January 2025 and signed on its behalf by:
 

.........................................
Mr T R Sutton
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CPR Recruitment Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CPR Recruitment Limited for the year ended 30 April 2024 as set out on pages 4 to 14 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of CPR Recruitment Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CPR Recruitment Limited and state those matters that we have agreed to state to the Board of Directors of CPR Recruitment Limited, 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 CPR Recruitment Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CPR Recruitment Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CPR Recruitment Limited. You consider that CPR Recruitment Limited 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 accounts of CPR Recruitment Limited. 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 accounts.

......................................

Taylor Brooker Accountancy Limited
Suite 122
70 Churchill Square
Kingshill
West Malling
Kent
ME19 4YU

9 January 2025

 

CPR Recruitment Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

26,459,116

24,133,771

Cost of sales

 

(22,637,621)

(20,802,604)

Gross profit

 

3,821,495

3,331,167

Administrative expenses

 

(2,543,345)

(1,964,343)

Operating profit

 

1,278,150

1,366,824

Interest payable and similar expenses

 

(172,465)

(132,638)

Profit before tax

4

1,105,685

1,234,186

Tax on profit

 

(281,513)

(244,771)

Profit for the financial year

 

824,172

989,415

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

CPR Recruitment Limited

Statement of Comprehensive Income for the Year Ended 30 April 2024

2024
£

2023
£

Profit for the year

824,172

989,415

Total comprehensive income for the year

824,172

989,415

 

CPR Recruitment Limited

(Registration number: 10125718)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

28,174

18,946

Current assets

 

Debtors

6

2,948,455

4,035,691

Cash at bank and in hand

 

52,590

665,871

 

3,001,045

4,701,562

Creditors: Amounts falling due within one year

7

(2,225,297)

(3,924,223)

Net current assets

 

775,748

777,339

Total assets less current liabilities

 

803,922

796,285

Provisions for liabilities

-

(6,615)

Net assets

 

803,922

789,670

Capital and reserves

 

Called up share capital

8

290

290

Retained earnings

803,632

789,380

Shareholders' funds

 

803,922

789,670

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

CPR Recruitment Limited

(Registration number: 10125718)
Balance Sheet as at 30 April 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 9 January 2025 and signed on its behalf by:
 

.........................................
Mr T R Sutton
Director

 

CPR Recruitment Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

290

784,700

784,990

Profit for the year

-

824,172

824,172

Dividends

-

(805,240)

(805,240)

At 30 April 2024

290

803,632

803,922

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

290

468,944

469,234

Profit for the year

-

989,415

989,415

Dividends

-

(668,979)

(668,979)

At 30 April 2023

290

789,380

789,670

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Business Terrace
Maidstone House
Maidstone
Kent
ME15 6JQ

These financial statements were authorised for issue by the Board on 9 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Furniture and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost , less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised at the transaction price

Borrowings

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are an invoice factoring arrangement.

Interest expense is recognised on the basis of the contractual obligation and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2023 - 29).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,374

6,822

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

32,219

32,219

Additions

17,271

17,271

At 30 April 2024

49,490

49,490

Depreciation

At 1 May 2023

13,323

13,323

Charge for the year

7,993

7,993

At 30 April 2024

21,316

21,316

Carrying amount

At 30 April 2024

28,174

28,174

At 30 April 2023

18,946

18,946

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,876,784

4,032,546

Prepayments

60,292

-

Other debtors

11,379

3,145

 

2,948,455

4,035,691

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,570,716

2,799,925

Trade creditors

 

163,139

709,902

Taxation and social security

 

451,965

403,385

Accruals and deferred income

 

4,000

2,000

Other creditors

 

35,477

9,011

 

2,225,297

3,924,223

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

Ordinary "A" shares of £1 each

90

90

90

90

290

290

290

290

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,570,716

2,799,925

10

Related party transactions

Dividends paid to directors

 

CPR Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Dividends paid to all directors in proportion to the shareholding

720,240

668,980