Company registration number 08359864 (England and Wales)
1 2 1 RECRUITMENT CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
1 2 1 RECRUITMENT CONSULTANTS LIMITED
CONTENTS
- 1 -
Page
Balance sheet
2
Notes to the financial statements
3 - 6
1 2 1 RECRUITMENT CONSULTANTS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,265
2,134
Current assets
Debtors
4
730,617
738,360
Cash at bank and in hand
13,129
777
743,746
739,137
Creditors: amounts falling due within one year
5
(832,168)
(837,105)
Net current liabilities
(88,422)
(97,968)
Total assets less current liabilities
(86,157)
(95,834)
Provisions for liabilities
(299)
(207)
Net liabilities
(86,456)
(96,041)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(86,556)
(96,141)
Total equity
(86,456)
(96,041)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 4 March 2025 and are signed on its behalf by:
B Dadral
Director
Company registration number 08359864 (England and Wales)
1 2 1 RECRUITMENT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

1 2 1 Recruitment Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Hanover Square, London, W1S 1BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% straight line basis
Computer equipment
20% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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 in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

1 2 1 RECRUITMENT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are 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. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
1 2 1 RECRUITMENT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
3,313
1,788
5,101
Additions
-
0
916
916
At 30 June 2024
3,313
2,704
6,017
Depreciation and impairment
At 1 July 2023
1,455
1,512
2,967
Depreciation charged in the year
519
266
785
At 30 June 2024
1,974
1,778
3,752
Carrying amount
At 30 June 2024
1,339
926
2,265
At 30 June 2023
1,858
276
2,134
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
29,464
89,395
Other debtors
701,153
648,965
730,617
738,360
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
230,099
234,834
Corporation tax
79,529
53,215
Other taxation and social security
62,661
82,762
Other creditors
459,879
466,294
832,168
837,105

Included within other creditors is an amount of £452,331 (2023: £453,933) which has been secured on the debts assigned by the company.

1 2 1 RECRUITMENT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions

Included within other debtors is an amount of £527,066 (2023: £498,412) due from the directors, as at the balance sheet date. The maximum amount outstanding during the year was £527,066 (2023: £498,412) and interest of £11,748 (2023: £17,336) has been charged on the overdrawn balance.

 

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