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 S V Mead 01/02/2022 K J Sadler 01/02/2022 H L Thomas 01/02/2022 S M C Tumelty 15/05/2017 19 February 2025 The principal activity of the Company during the financial year was that of a holding company. 10770467 2024-07-31 10770467 bus:Director1 2024-07-31 10770467 bus:Director2 2024-07-31 10770467 bus:Director3 2024-07-31 10770467 bus:Director4 2024-07-31 10770467 bus:Director5 2024-07-31 10770467 bus:Director6 2024-07-31 10770467 2023-07-31 10770467 core:Non-currentFinancialInstruments 2024-07-31 10770467 core:Non-currentFinancialInstruments 2023-07-31 10770467 core:CurrentFinancialInstruments 2024-07-31 10770467 core:CurrentFinancialInstruments 2023-07-31 10770467 core:ShareCapital 2024-07-31 10770467 core:ShareCapital 2023-07-31 10770467 core:OtherCapitalReserve 2024-07-31 10770467 core:OtherCapitalReserve 2023-07-31 10770467 core:RetainedEarningsAccumulatedLosses 2024-07-31 10770467 core:RetainedEarningsAccumulatedLosses 2023-07-31 10770467 core:CostValuation 2023-07-31 10770467 core:AdditionsToInvestments 2024-07-31 10770467 core:CostValuation 2024-07-31 10770467 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-07-31 10770467 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-07-31 10770467 bus:OrdinaryShareClass1 2024-07-31 10770467 2023-08-01 2024-07-31 10770467 bus:FilletedAccounts 2023-08-01 2024-07-31 10770467 bus:SmallEntities 2023-08-01 2024-07-31 10770467 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10770467 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10770467 bus:Director1 2023-08-01 2024-07-31 10770467 bus:Director2 2023-08-01 2024-07-31 10770467 bus:Director3 2023-08-01 2024-07-31 10770467 bus:Director4 2023-08-01 2024-07-31 10770467 bus:Director5 2023-08-01 2024-07-31 10770467 bus:Director6 2023-08-01 2024-07-31 10770467 2022-08-01 2023-07-31 10770467 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 10770467 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10770467 (England and Wales)

THE HR DEPT GROUP LIMITED

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

THE HR DEPT GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

THE HR DEPT GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
THE HR DEPT GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Investments 4 61,473 61,471
61,473 61,471
Current assets
Debtors
- due after more than one year 5 1,892,595 994,595
1,892,595 994,595
Creditors: amounts falling due within one year 6 ( 1,766,193) ( 1,042,150)
Net current assets/(liabilities) 126,402 (47,555)
Total assets less current liabilities 187,875 13,916
Net assets 187,875 13,916
Capital and reserves
Called-up share capital 7 100 100
Other reserves ( 2,100,000 ) ( 1,380,000 )
Profit and loss account 2,287,775 1,393,816
Total shareholder's funds 187,875 13,916

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 Group Limited (registered number: 10770467) 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 GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
THE HR DEPT GROUP 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 Group 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 7FL, United Kingdom.

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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 Dividend income was understated by £430,000 and the Retained earnings brought forward was understated by £280,000. Amounts owed by subsidiaries and Profit and loss account were both understated by £710,000 in the previous year.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

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

2. Prior year adjustment

At the year ended 31 July 2023 and 31 July 2022 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 received 0 430,000 430,000
Retained earnings at the beginning of financial year 688,732 280,000 968,732
Amounts owed by own subsidiaries 284,595 710,000 994,595
Profit and loss account 683,816 710,000 1,393,816

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 61,471
Additions 2
At 31 July 2024 61,473
Carrying value at 31 July 2024 61,473
Carrying value at 31 July 2023 61,471

5. Debtors

2024 2023
£ £
Debtors: amounts falling due after more than one year
Amounts owed by own subsidiaries 1,892,595 994,595

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 240 0
Amounts owed to own subsidiaries 1,760,368 1,037,363
Accruals 5,585 4,787
1,766,193 1,042,150

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. 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.