Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-07-01false3131falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06279558 2023-07-01 2024-03-31 06279558 2022-07-01 2023-06-30 06279558 2024-03-31 06279558 2023-06-30 06279558 c:Director1 2023-07-01 2024-03-31 06279558 c:Director2 2023-07-01 2024-03-31 06279558 c:RegisteredOffice 2023-07-01 2024-03-31 06279558 d:MotorVehicles 2023-07-01 2024-03-31 06279558 d:MotorVehicles 2024-03-31 06279558 d:MotorVehicles 2023-06-30 06279558 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 06279558 d:FurnitureFittings 2023-07-01 2024-03-31 06279558 d:FurnitureFittings 2024-03-31 06279558 d:FurnitureFittings 2023-06-30 06279558 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 06279558 d:ComputerEquipment 2023-07-01 2024-03-31 06279558 d:ComputerEquipment 2024-03-31 06279558 d:ComputerEquipment 2023-06-30 06279558 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 06279558 d:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 06279558 d:CurrentFinancialInstruments 2024-03-31 06279558 d:CurrentFinancialInstruments 2023-06-30 06279558 d:Non-currentFinancialInstruments 2024-03-31 06279558 d:Non-currentFinancialInstruments 2023-06-30 06279558 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06279558 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06279558 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06279558 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06279558 d:ShareCapital 2024-03-31 06279558 d:ShareCapital 2023-06-30 06279558 d:RetainedEarningsAccumulatedLosses 2024-03-31 06279558 d:RetainedEarningsAccumulatedLosses 2023-06-30 06279558 c:FRS102 2023-07-01 2024-03-31 06279558 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-03-31 06279558 c:FullAccounts 2023-07-01 2024-03-31 06279558 c:PrivateLimitedCompanyLtd 2023-07-01 2024-03-31 06279558 2 2023-07-01 2024-03-31 06279558 6 2023-07-01 2024-03-31 06279558 e:PoundSterling 2023-07-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 06279558







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024


PROJECT RECRUIT LIMITED






































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PROJECT RECRUIT LIMITED
 


 
COMPANY INFORMATION


Directors
R N McCarter-Field 
D Field 




Registered number
06279558



Registered office
Scott House Suite 1
The Concourse

Waterloo Station

London

SE1 7LY




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


PROJECT RECRUIT LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


PROJECT RECRUIT LIMITED
REGISTERED NUMBER:06279558



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
As restated
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,450
13,933

Investments
 5 
63,244
23,882

  
73,694
37,815

Current assets
  

Debtors: amounts falling due after more than one year
 6 
1,458
7,000

Debtors: amounts falling due within one year
 6 
3,610,661
3,596,835

Cash at bank and in hand
  
113,702
124,167

  
3,725,821
3,728,002

Creditors: amounts falling due within one year
 7 
(3,450,305)
(3,531,194)

Net current assets
  
 
 
275,516
 
 
196,808

Total assets less current liabilities
  
349,210
234,623

Creditors: amounts falling due after more than one year
 8 
(11,667)
(19,167)

  

Net assets
  
337,543
215,456


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
337,542
215,455

  
337,543
215,456


Page 1

 


PROJECT RECRUIT LIMITED
REGISTERED NUMBER:06279558


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



R N McCarter-Field
Director
Date: 21 March 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


PROJECT RECRUIT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Project Recruit Limited is a private company limited by shares incorporated in England and Wales. The registered number and address of the registered office  is shown on the company information page.
These financial statements represent a short period of 9 months and are therefore not comparable to the prior year.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated by providing recruitment solutions to companies and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 3

 


PROJECT RECRUIT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
reducing balance
Computer & office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average number of employees, including directors, during the year was 31 (2023 - 31).

Page 4

 


PROJECT RECRUIT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Computer and office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
89,116
6,210
29,667
124,993



At 31 March 2024

89,116
6,210
29,667
124,993



Depreciation


At 1 July 2023
89,116
6,210
15,734
111,060


Charge for the period on owned assets
-
-
3,483
3,483



At 31 March 2024

89,116
6,210
19,217
114,543



Net book value



At 31 March 2024
-
-
10,450
10,450



At 30 June 2023
-
-
13,933
13,933


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
23,882


Additions
39,362



At 31 March 2024
63,244




Page 5

 


PROJECT RECRUIT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

31 March
30 June
2024
2023
£
£

Due after more than one year

Other debtors
1,458
7,000

1,458
7,000


31 March
As restated
30 June
2024
2023
£
£

Due within one year

Trade debtors
3,076,979
3,329,012

Amounts owed by group undertakings
185,370
8,258

Other debtors
300,761
128,554

Prepayments and accrued income
47,551
131,011

3,610,661
3,596,835



7.


Creditors: Amounts falling due within one year

31 March
30 June
2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
973,760
297,230

Amounts owed to group undertakings
57,913
100

Corporation tax
134,550
67,249

Other taxation and social security
656,583
663,199

Other creditors
935,063
1,518,928

Accruals and deferred income
682,436
974,488

3,450,305
3,531,194


Included in other creditors is an invoice finance facility amount of £468,674 (2023 - £1,286,947) that is secured by way of a fixed and floating charge over all of the company's assets. 

Page 6

 


PROJECT RECRUIT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

31 March
30 June
2024
2023
£
£

Bank loans
11,667
19,167

11,667
19,167


Included in creditors are bank loans that are secured by way of guarantee provided by the U.K. Government.


9.


Prior year adjustment

The details of corrections to classifications within the Statement of Financial Position are given as follows:
The prior year has been restated to correct the called up share capital figure included in the Statement of Financial Position. Called up share capital has decreased by £1 and other debtors has decreased by £1.
There has been no change to profit after tax or Retained Earnings.


10.


Related party transactions

During the period, the following transactions between the director and company subsided. This amount has interest charged at 2.25% and is repayable on demand.


31 March
30 June
2024
2023
£
£

Balance at beginning of period
-
(10,596)
Amounts advanced
184,580
198,261
Amounts repaid
(50,345)
(187,665)
134,235
-

 
Page 7