Silverfin false false 31/07/2024 01/08/2023 31/07/2024 F A M Kenny 01/02/2022 L M McQuade 01/02/2022 K J Sadler 01/02/2022 S M C Tumelty 14/03/2016 19 February 2025 The principal activity of the Company during the financial year was that of HR services. 10060441 2024-07-31 10060441 bus:Director1 2024-07-31 10060441 bus:Director2 2024-07-31 10060441 bus:Director3 2024-07-31 10060441 bus:Director4 2024-07-31 10060441 core:CurrentFinancialInstruments 2024-07-31 10060441 core:CurrentFinancialInstruments 2023-07-31 10060441 2023-07-31 10060441 core:ShareCapital 2024-07-31 10060441 core:ShareCapital 2023-07-31 10060441 core:CapitalRedemptionReserve 2024-07-31 10060441 core:CapitalRedemptionReserve 2023-07-31 10060441 core:RetainedEarningsAccumulatedLosses 2024-07-31 10060441 core:RetainedEarningsAccumulatedLosses 2023-07-31 10060441 core:ImmediateParent core:CurrentFinancialInstruments 2024-07-31 10060441 core:ImmediateParent core:CurrentFinancialInstruments 2023-07-31 10060441 bus:OrdinaryShareClass1 2024-07-31 10060441 2023-08-01 2024-07-31 10060441 bus:FilletedAccounts 2023-08-01 2024-07-31 10060441 bus:SmallEntities 2023-08-01 2024-07-31 10060441 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10060441 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10060441 bus:Director1 2023-08-01 2024-07-31 10060441 bus:Director2 2023-08-01 2024-07-31 10060441 bus:Director3 2023-08-01 2024-07-31 10060441 bus:Director4 2023-08-01 2024-07-31 10060441 2022-08-01 2023-07-31 10060441 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 10060441 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10060441 (England and Wales)

THE HR DEPT INTERNATIONAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

THE HR DEPT INTERNATIONAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

THE HR DEPT INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
THE HR DEPT INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Restated - note 2
Current assets
Debtors 4 14,563 8,031
Cash at bank and in hand 5,446 4,647
20,009 12,678
Creditors: amounts falling due within one year 5 ( 18,797) ( 11,282)
Net current assets 1,212 1,396
Total assets less current liabilities 1,212 1,396
Net assets 1,212 1,396
Capital and reserves
Called-up share capital 6 100 100
Capital redemption reserve 200 200
Profit and loss account 912 1,096
Total shareholder's funds 1,212 1,396

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The HR Dept International Limited (registered number: 10060441) were approved and authorised for issue by the Board of Directors on 19 February 2025. They were signed on its behalf by:

K J Sadler
Director
THE HR DEPT INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
THE HR DEPT INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The HR Dept International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Brook Office Park, Emersons Green, Bristol, BS16 4NT , United Kingdom.

These financial statements are the first financial statements of The HR Dept International Limited prepared in accordance with Financial Reporting Standard 102. The financial statements of The HR Dept International Limited for the year ended (Previous year) were prepared in accordance with FRS 105. Following transition to Financial Reporting Standard 102 there have been no material changes to either recognition, measurement or presentation requirements.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of The HR Dept International Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Prior year adjustment

The Dividends declared and paid and Amounts owed to Parent undertakings were understated by £8,000, and Profit and Loss account was overstated by £8,000 in the previous year.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Prior year adjustment

At the year ended 31 July 2023 there were no adjustments made with respect to dividends between group companies proposed in the minutes of a meeting between the Board of Directors.

The statement of financial position and statement of income and retained earnings have been restated to reflect the correct position.

As previously reported Adjustment As restated
Year ended 31 July 2023 £ £ £
Dividends declared and paid 0 (8,000) (8,000)
Amounts owed to Parent undertakings 0 8,000 8,000
Profit and loss account 9,096 (8,000) 1,096

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 14,460 7,928
VAT recoverable 3 3
Other debtors 100 100
14,563 8,031

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Parent undertakings 15,000 8,000
Accruals 1,906 1,103
Taxation and social security 1,891 2,179
18,797 11,282

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
100 A ordinary shares of £ 1.00 each 100 100

7. Related party transactions

The Company has taken advantage of the exemption in Section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.