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REGISTERED NUMBER: 11338359 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

REVOREC RECRUITMENT SOLUTIONS LIMITED

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REVOREC RECRUITMENT SOLUTIONS LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S G M Petitti





REGISTERED OFFICE: Bath House
6-8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 11338359 (England and Wales)





ACCOUNTANTS: Gravita
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 15,713 19,607

CURRENT ASSETS
Debtors 4 649,942 515,752
Cash at bank 1 1,042
649,943 516,794
CREDITORS
Amounts falling due within one year 5 (414,205 ) (471,123 )
NET CURRENT ASSETS 235,738 45,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,451

65,278

CREDITORS
Amounts falling due after more than one
year

6

(249,333

)

(56,293

)

PROVISIONS FOR LIABILITIES (1,814 ) (3,311 )
NET ASSETS 304 5,674

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 302 5,672
304 5,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Balance Sheet - continued
31 MAY 2024


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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





S G M Petitti - Director


REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 3% on cost
Plant and machinery - 25% on cost

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


1. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents 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 current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

3. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023 11,174 19,927 31,101
Additions - 469 469
At 31 May 2024 11,174 20,396 31,570
DEPRECIATION
At 1 June 2023 495 10,999 11,494
Charge for year 335 4,028 4,363
At 31 May 2024 830 15,027 15,857
NET BOOK VALUE
At 31 May 2024 10,344 5,369 15,713
At 31 May 2023 10,679 8,928 19,607

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,739 76,493
Other debtors 667 667
Directors' current accounts 78,482 -
Tax 26,487 -
Prepayments and accrued income 488,567 438,592
649,942 515,752

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 74,242 59,730
Trade creditors 27,374 23,228
Tax 70,571 60,659
Social security and other taxes 92,293 88,480
VAT 51,783 41,429
Other creditors - 1,938
Credit Card 1,502 -
Directors' current accounts - 4,581
Accruals and deferred income 96,440 191,078
414,205 471,123

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 58,770 15,567
Bank loans - 2-5 years 190,563 40,726
249,333 56,293

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 7,956 6,630
Between one and five years 3,663 11,781
11,619 18,411

REVOREC RECRUITMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 11338359)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Secured bank loans 200,358 71,313
Bank overdraft 31,117 37,970
231,475 109,283

The above mentioned bank loans and overdraft included within short term and long term creditors, are secured by fixed and floating charges over the assets of the company.

Additionally, a bank loan included within the short term and long term creditors is personally guaranteed by a director of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
S G M Petitti
Balance outstanding at start of year (4,581 ) (493 )
Amounts advanced 139,356 189,262
Amounts repaid (56,294 ) (193,350 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 78,481 (4,581 )

Interest has been charged on the loan at the official rate.