Company registration number 06937256 (England and Wales)
THE AGENCY (RECRUITMENT) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
THE AGENCY (RECRUITMENT) LTD
COMPANY INFORMATION
Directors
K M Barnes-Evans
R Evans
Company number
06937256
Registered office
5 Railway Street
Cleckheaton
BD19 3HR
Accountants
Calvert Dawson Ltd
288 Oxford Road
Gomersal
Cleckheaton
West Yorkshire
BD19 4PY
THE AGENCY (RECRUITMENT) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE AGENCY (RECRUITMENT) LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,374
Current assets
Debtors
5
148,522
336,972
Cash at bank and in hand
169,859
122,906
318,381
459,878
Creditors: amounts falling due within one year
6
(108,913)
(83,972)
Net current assets
209,468
375,906
Total assets less current liabilities
209,468
379,280
Provisions for liabilities
(674)
(843)
Net assets
208,794
378,437
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
208,694
378,337
Total equity
208,794
378,437
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 Period 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 by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
K M Barnes-Evans
Director
Company registration number 06937256 (England and Wales)
THE AGENCY (RECRUITMENT) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
The Agency (Recruitment) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 5 Railway Street, Cleckheaton, BD19 3HR.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Reporting period
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
1.3
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.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.5
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% reducing 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.
THE AGENCY (RECRUITMENT) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2023
Number
Number
Total
45
47
THE AGENCY (RECRUITMENT) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 31 October 2024
87,773
Amortisation and impairment
At 1 July 2023 and 31 October 2024
87,773
Carrying amount
At 31 October 2024
At 30 June 2023
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
15,234
Disposals
(15,234)
At 31 October 2024
Depreciation and impairment
At 1 July 2023
11,860
Depreciation charged in the Period
675
Eliminated in respect of disposals
(12,535)
At 31 October 2024
Carrying amount
At 31 October 2024
At 30 June 2023
3,374
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,799
118,896
Corporation tax recoverable
17,432
Other debtors
102,291
218,076
148,522
336,972
THE AGENCY (RECRUITMENT) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,942
3,474
Corporation tax
13,619
Other taxation and social security
74,888
49,966
Other creditors
32,083
16,913
108,913
83,972
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
K M Barnes-Evans
2.25
107,172
39,505
(97,731)
48,946
R Evans
2.25
107,171
39,505
(97,731)
48,945
214,343
79,010
(195,462)
97,891