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REGISTERED NUMBER: 10289430 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PRIME RECRUITMENT LIMITED

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIME RECRUITMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: C A T Diallo





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 10289430 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 39,850 44,108
39,850 44,108

CURRENT ASSETS
Debtors 6 574,599 338,505
Cash at bank 121,926 135,286
696,525 473,791
CREDITORS
Amounts falling due within one year 7 528,003 299,344
NET CURRENT ASSETS 168,522 174,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

208,372

218,555

CREDITORS
Amounts falling due after more than one
year

8

(7,204

)

(11,859

)

PROVISIONS FOR LIABILITIES 10 (3,250 ) (3,457 )
NET ASSETS 197,918 203,239

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 197,917 203,238
SHAREHOLDERS' FUNDS 197,918 203,239

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

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

The director acknowledges his 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.

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2025 and were signed by:





C A T Diallo - Director


PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

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


1. STATUTORY INFORMATION

Prime 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The validity of the going concern basis depends upon the continued support of the company director and the factoring company.

Turnover
Turnover represents agency fees and is recognised at date of invoice upon completion of work.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over 10 years
Plant & machinery - 25% on reducing balance
Furniture,fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Over 3 years

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.

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 18,000
AMORTISATION
At 1 February 2023
and 31 January 2024 18,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Short Plant & Furniture,fittings
leasehold machinery & equipment
£    £    £   
COST
At 1 February 2023 32,310 6,051 5,049
Additions - - 1,897
At 31 January 2024 32,310 6,051 6,946
DEPRECIATION
At 1 February 2023 5,321 1,513 1,262
Charge for year 3,231 1,135 1,421
At 31 January 2024 8,552 2,648 2,683
NET BOOK VALUE
At 31 January 2024 23,758 3,403 4,263
At 31 January 2023 26,989 4,538 3,787

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

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


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 3,500 11,192 58,102
Additions - 5,688 7,585
At 31 January 2024 3,500 16,880 65,687
DEPRECIATION
At 1 February 2023 875 5,023 13,994
Charge for year 656 5,400 11,843
At 31 January 2024 1,531 10,423 25,837
NET BOOK VALUE
At 31 January 2024 1,969 6,457 39,850
At 31 January 2023 2,625 6,169 44,108

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 395,848 322,715
Other debtors 96,742 6,141
Directors' current accounts 61,315 9,384
Tax 20,694 -
Prepayments - 265
574,599 338,505

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,655 4,540
Trade creditors 366,303 233,075
Tax 58,480 41,158
PAYE 62,570 3,613
Other creditors 24,098 3,054
Accrued expenses 11,897 13,904
528,003 299,344

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,773 4,655
Bank loans - 2-5 years 2,431 7,204
7,204 11,859

PRIME RECRUITMENT LIMITED (REGISTERED NUMBER: 10289430)

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


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 25,564 27,564
Between one and five years 61,692 71,692
In more than five years 56,772 72,336
144,028 171,592

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,250 3,457

Deferred
tax
£   
Balance at 1 February 2023 3,457
Provided during year (207 )
Balance at 31 January 2024 3,250

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
C A T Diallo
Balance outstanding at start of year 9,384 -
Amounts advanced 51,931 9,384
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,315 9,384

Interest of £541 (2023 £280) has been charged on this loan at the official rate of 2.25%.

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £90,867 (2023 : £266) by an associated company controlled by Mr C A T Diallo. No interest was charged on this amount. This amount is unlikely to be repaid within 1 year.

13. POST BALANCE SHEET EVENTS

A National Minimum Wage compliance check was opened by HMRC after the balance sheet date. This cannot, at the balance sheet date be quantified.