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REGISTERED NUMBER: 03640983 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

GRADUATE RECRUITMENT BUREAU LIMITED

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRADUATE RECRUITMENT BUREAU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C M Cater
D Hawes





SECRETARY: C M Cater





REGISTERED OFFICE: 15 West Street
Brighton
East Sussex
BN1 2RL





REGISTERED NUMBER: 03640983 (England and Wales)





ACCOUNTANTS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,357 51,399

CURRENT ASSETS
Debtors 5 406,071 590,025
Cash at bank and in hand 1,376,892 2,439,152
1,782,963 3,029,177
CREDITORS
Amounts falling due within one year 6 392,631 606,877
NET CURRENT ASSETS 1,390,332 2,422,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,431,689

2,473,699

CREDITORS
Amounts falling due after more than one
year

7

(216,000

)

(360,000

)

PROVISIONS FOR LIABILITIES 10 (10,300 ) (12,400 )
NET ASSETS 1,205,389 2,101,299

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share-based payment reserve 82,162 -
Retained earnings 1,121,227 2,099,299
SHAREHOLDERS' FUNDS 1,205,389 2,101,299

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:




C Cater - Director


GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


1. STATUTORY INFORMATION

Graduate Recruitment Bureau 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable and represents invoiced sales of recruitment services, stated net of discounts and of value added tax.

Turnover is recognised at the time the candidate commences employment. Provisions are made for the expected cost of meeting obligations where employees do not work for the specified contractual period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over the term of the lease - 15 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Going concern
After reviewing the company's forecasts, the directors believe that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of the approval of these financial statements. Therefore, the directors have concluded that the going concern basis of preparation of these financial statements remains appropriate.

3. EMPLOYEES

The average number of employees during the year was 69 (2023 - 72 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Integral and Computer
improvements features fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 86,373 15,418 56,908 233,807 392,506
Additions - - 1,688 2,444 4,132
At 31 July 2024 86,373 15,418 58,596 236,251 396,638
DEPRECIATION
At 1 August 2023 79,539 15,418 50,687 195,463 341,107
Charge for year 2,385 - 1,857 9,932 14,174
At 31 July 2024 81,924 15,418 52,544 205,395 355,281
NET BOOK VALUE
At 31 July 2024 4,449 - 6,052 30,856 41,357
At 31 July 2023 6,834 - 6,221 38,344 51,399

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 276,029 558,281
Other debtors 6,519 4,819
Tax 80,423 -
Prepayments and accrued income 43,100 26,925
406,071 590,025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 144,000 159,174
Trade creditors 23,043 29,079
Taxation and social security 102,696 246,787
Other creditors 122,892 171,837
392,631 606,877

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 216,000 360,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 22,000 22,000
Between one and five years 31,167 53,167
53,167 75,167

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 15,174

One of the bank loans included in the balance above was secured by a debenture over the assets of the company and by personal guarantees of £150,000 given by each of the directors.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,300 12,400

Deferred
tax
£   
Balance at 1 August 2023 12,400
Accelerated capital allowances (2,100 )
Balance at 31 July 2024 10,300

GRADUATE RECRUITMENT BUREAU LIMITED (REGISTERED NUMBER: 03640983)

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


11. SHARE-BASED PAYMENT TRANSACTIONS

At the balance sheet date, the company had granted share options to 25 (2023: NIL) individuals. The equity based scheme has an exercise price of £0.67 per share. The share options expire 10 years after the grant date. Options are forfeited if the employee leaves the company before they become entitled to exercise the share options.

The movements in share options during the year were as follows:
2024

Number of
options


WAEP (£)
Balance brought forward--
Granted during the year256,0000.6700
Forfeited during the year(1,300)(0.6700)
Balance carried forward254,7000.6700

Exercisable at year end--
The expense recognised during the year in respect of share options was £82,162 (2023: £NIL). The total value of share-based payments included within equity was £82,162 (2023: £NIL).