32 24 Pearson Whiffin Recruitment Limited 05274432 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of recruitment services. Digita Accounts Production Advanced 6.30.9574.0 true true 05274432 2023-04-01 2024-03-31 05274432 2024-03-31 05274432 core:CapitalRedemptionReserve 2024-03-31 05274432 core:RetainedEarningsAccumulatedLosses 2024-03-31 05274432 core:ShareCapital 2024-03-31 05274432 core:CurrentFinancialInstruments 2024-03-31 05274432 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05274432 core:Non-currentFinancialInstruments 2024-03-31 05274432 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05274432 core:FurnitureFittingsToolsEquipment 2024-03-31 05274432 bus:SmallEntities 2023-04-01 2024-03-31 05274432 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05274432 bus:FilletedAccounts 2023-04-01 2024-03-31 05274432 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05274432 bus:RegisteredOffice 2023-04-01 2024-03-31 05274432 bus:Director1 2023-04-01 2024-03-31 05274432 bus:Director2 2023-04-01 2024-03-31 05274432 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05274432 core:FurnitureFittings 2023-04-01 2024-03-31 05274432 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05274432 core:OfficeEquipment 2023-04-01 2024-03-31 05274432 countries:EnglandWales 2023-04-01 2024-03-31 05274432 2023-03-31 05274432 core:FurnitureFittingsToolsEquipment 2023-03-31 05274432 2022-04-01 2023-03-31 05274432 2023-03-31 05274432 core:CapitalRedemptionReserve 2023-03-31 05274432 core:RetainedEarningsAccumulatedLosses 2023-03-31 05274432 core:ShareCapital 2023-03-31 05274432 core:CurrentFinancialInstruments 2023-03-31 05274432 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05274432 core:Non-currentFinancialInstruments 2023-03-31 05274432 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05274432 core:FurnitureFittingsToolsEquipment 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 05274432

Pearson Whiffin Recruitment Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Pearson Whiffin Recruitment Limited

(Registration number: 05274432)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,829

10,748

Current assets

 

Debtors

5

1,177,857

1,012,524

Cash at bank and in hand

 

217,629

(213,008)

 

1,395,486

799,516

Creditors: Amounts falling due within one year

6

(956,210)

(200,341)

Net current assets

 

439,276

599,175

Total assets less current liabilities

 

452,105

609,923

Creditors: Amounts falling due after more than one year

6

(23,333)

(43,333)

Provisions for liabilities

(3,207)

-

Net assets

 

425,565

566,590

Capital and reserves

 

Called up share capital

202

202

Capital redemption reserve

(200,000)

(200,000)

Retained earnings

625,363

766,388

Shareholders' funds

 

425,565

566,590

 

Pearson Whiffin Recruitment Limited

(Registration number: 05274432)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 

.........................................
Mr R Pearson
Director

.........................................
Mr PJ Stirman
Director

 

Pearson Whiffin Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Maidstone Studios
New Cut Road
Maidstone
Kent
ME14 5NZ
England

These financial statements were authorised for issue by the Board on 17 February 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 and deferred 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.

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.

 

Pearson Whiffin Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Fixtures and fittings

15% on reducing balance

Office equipment

33% on 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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Pearson Whiffin Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method 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.

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 32 (2023 - 24).

 

Pearson Whiffin Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

30,836

30,836

Additions

5,915

5,915

At 31 March 2024

36,751

36,751

Depreciation

At 1 April 2023

20,088

20,088

Charge for the year

3,834

3,834

At 31 March 2024

23,922

23,922

Carrying amount

At 31 March 2024

12,829

12,829

At 31 March 2023

10,748

10,748

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,150,599

1,012,524

Prepayments

5,628

-

Other debtors

21,630

-

 

1,177,857

1,012,524

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

20,193

21,411

Trade creditors

 

736,786

4,230

Taxation and social security

 

135,082

174,700

Accruals and deferred income

 

2,400

-

Other creditors

 

61,749

-

 

956,210

200,341

 

Pearson Whiffin Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

23,333

43,333

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,333

43,333

Current loans and borrowings

2024
£

2023
£

Bank borrowings

20,000

20,000

Other borrowings

193

1,411

20,193

21,411