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Registration number: 10802673

Recruit2Healthcare Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 June 2024

 

Recruit2Healthcare Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Recruit2Healthcare Ltd

Company Information

Directors

Dr JS Davies

Mr P Phillips

Mr B P Khanal

Registered office

Unit 8b Bridgend Business Centre
Bridgend Insustrial Estate
Bridgend
CF31 3SH

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Recruit2Healthcare Ltd

(Registration number: 10802673)
Abridged Balance Sheet as at 29 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144

411

Current assets

 

Debtors

269,161

17,424

Cash at bank and in hand

 

78,307

452,368

 

347,468

469,792

Creditors: Amounts falling due within one year

(14,103)

(4,550)

Net current assets

 

333,365

465,242

Total assets less current liabilities

 

333,509

465,653

Creditors: Amounts falling due after more than one year

(10,833)

(20,833)

Provisions for liabilities

-

(189)

Accruals and deferred income

 

(2,000)

(2,000)

Net assets

 

320,676

442,631

Capital and reserves

 

Called up share capital

5

300

300

Retained earnings

320,376

442,331

Shareholders' funds

 

320,676

442,631

 

Recruit2Healthcare Ltd

(Registration number: 10802673)
Abridged Balance Sheet as at 29 June 2024

For the financial year ending 29 June 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been 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 21 February 2025 and signed on its behalf by:
 

.........................................

Mr P Phillips
Director

 

Recruit2Healthcare Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 June 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:
Unit 8b Bridgend Business Centre
Bridgend Insustrial Estate
Bridgend
CF31 3SH

These financial statements were authorised for issue by the Board on 21 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 abridged 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 abridged 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.

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 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.

 

Recruit2Healthcare Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 June 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, fittings and equipment

25% Straight line

Computer equipment

25% 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.

 

Recruit2Healthcare Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 June 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 7 (2023 - 4).

 

Recruit2Healthcare Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 June 2024

4

Tangible assets

Fixtures, fittings and equipment
 £

Computer equipment
£

Total
£

Cost or valuation

At 30 June 2023

2,289

1,958

4,247

Additions

150

-

150

Disposals

(342)

(1,958)

(2,300)

At 29 June 2024

2,097

-

2,097

Depreciation

At 30 June 2023

1,878

1,958

3,836

Charge for the year

417

-

417

Eliminated on disposal

(342)

(1,958)

(2,300)

At 29 June 2024

1,953

-

1,953

Carrying amount

At 29 June 2024

144

-

144

At 29 June 2023

411

-

411

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300

       
 

Recruit2Healthcare Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 June 2024

6

Related party transactions

Summary of transactions with other related parties

Oxford Care Holdings Limited - Common Director
 
During the year the company made unsecured, interest free, repayable on demand loans to a related party totalling £250,001. At the balance sheet date the amount due to the company from the related party was £250,001 (2023 - £Nil).