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Recruitment Solutions Workforce Limited

Financial Statements for the Year Ended 30 June 2024






Recruitment Solutions Workforce Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M M Gaffney
L A Powell
C Evans





REGISTERED OFFICE: Duel House
Llandowlais Street
Oakfield
Cwmbran
NP44 7XB





REGISTERED NUMBER: 11352047 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Recruitment Solutions Workforce Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Recruitment Solutions Workforce Limited for the year ended 30 June 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Recruitment Solutions Workforce Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Recruitment Solutions Workforce Limited and state those matters that we have agreed to state to the Board of Directors of Recruitment Solutions Workforce Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Recruitment Solutions Workforce Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Recruitment Solutions Workforce Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Recruitment Solutions Workforce Limited. You consider that Recruitment Solutions Workforce Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Recruitment Solutions Workforce Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


6 February 2025

Recruitment Solutions Workforce Limited (Registered number: 11352047)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 11,062 15,509
Investments 4 - 1
11,062 15,510

CURRENT ASSETS
Stocks 786 650
Debtors 5 632,224 722,480
Cash at bank and in hand 95,817 153,411
728,827 876,541
CREDITORS
Amounts falling due within one year 6 507,212 561,063
NET CURRENT ASSETS 221,615 315,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,677

330,988

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 232,577 330,888
SHAREHOLDERS' FUNDS 232,677 330,988

Recruitment Solutions Workforce Limited (Registered number: 11352047)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:





L A Powell - Director


Recruitment Solutions Workforce Limited (Registered number: 11352047)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% straight line
Computer equipment - 15% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Recruitment Solutions Workforce Limited (Registered number: 11352047)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 187 (2023 - 199 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 July 2023 79,068 50,470 129,538
Additions 1,563 1,940 3,503
At 30 June 2024 80,631 52,410 133,041
DEPRECIATION
At 1 July 2023 69,800 44,229 114,029
Charge for year 5,512 2,438 7,950
At 30 June 2024 75,312 46,667 121,979
NET BOOK VALUE
At 30 June 2024 5,319 5,743 11,062
At 30 June 2023 9,268 6,241 15,509

4. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 July 2023 1
Impairments (1 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 1

Recruitment Solutions Workforce Limited (Registered number: 11352047)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 578,164 546,128
Amounts owed by group undertakings - 5
Other debtors & prepayments 54,060 176,347
632,224 722,480

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 19,082 20,708
Amounts owed to group undertakings - 500
Taxes & social security costs 318,475 333,616
Other creditors & accruals 169,655 206,239
507,212 561,063

7. SECURED DEBTS

Close Brothers Limited, the factor, has a fixed and floating charge over the assets of the company

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
M M Gaffney
Balance outstanding at start of year 30,785 38,000
Amounts advanced 2,082 785
Amounts repaid (6,490 ) (8,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,377 30,785

L A Powell
Balance outstanding at start of year 8,945 315
Amounts advanced 3,136 8,630
Amounts repaid (10,949 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,132 8,945