1 January 2024 false No description of principal activity Taxfiler 2024.6 true SC714980business:PrivateLimitedCompanyLtd2024-01-012024-12-31 SC7149802023-12-31 SC7149802024-01-012024-12-31 SC714980business:AuditExempt-NoAccountantsReport2024-01-012024-12-31 SC714980business:FilletedAccounts2024-01-012024-12-31 SC7149802024-12-31 SC714980business:Director12024-01-012024-12-31 SC714980business:Director22024-01-012024-12-31 SC714980business:Director32024-01-012024-12-31 SC714980business:RegisteredOffice2024-01-012024-12-31 SC7149802023-12-31 SC714980core:WithinOneYear2024-12-31 SC714980core:WithinOneYear2023-12-31 SC714980core:AfterOneYear2024-12-31 SC714980core:AfterOneYear2023-12-31 SC714980core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 SC714980core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 SC714980core:SharePremiumcore:PreviouslyStatedAmount2024-12-31 SC714980core:SharePremiumcore:PreviouslyStatedAmount2023-12-31 SC714980core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 SC714980core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 SC714980core:PreviouslyStatedAmount2024-12-31 SC714980core:PreviouslyStatedAmount2023-12-31 SC714980business:SmallEntities2024-01-012024-12-31 SC714980countries:Scotland2024-01-012024-12-31 SC714980core:FurnitureFittings2024-01-012024-12-31 SC714980core:ComputerEquipment2024-01-012024-12-31 SC714980core:FurnitureFittings2023-12-31 SC714980core:ComputerEquipment2023-12-31 SC714980core:FurnitureFittings2024-12-31 SC714980core:ComputerEquipment2024-12-31 SC7149802023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. SC714980 (Scotland)
Recruitment Ventures Limited Unaudited accounts for the year ended 31 December 2024
Recruitment Ventures Limited Unaudited accounts Contents
Page
- 2 -
Recruitment Ventures Limited Company Information for the year ended 31 December 2024
Directors
M A Buchan D H Duguid S K McIntosh
Company Number
SC714980 (Scotland)
Registered Office
Unit 1 Dunnottar House Howe Moss Drive, Dyce Aberdeen AB21 0FN Scotland
Accountants
Hutcheon Mearns Limited 2 Queens Road Aberdeen AB15 4ZT
- 3 -
Recruitment Ventures Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,115 
7,022 
Investments
850,000 
850,000 
867,115 
857,022 
Current assets
Debtors
198,266 
197,228 
Cash at bank and in hand
4,340 
5,027 
202,606 
202,255 
Creditors: amounts falling due within one year
(74,279)
(59,341)
Net current assets
128,327 
142,914 
Total assets less current liabilities
995,442 
999,936 
Creditors: amounts falling due after more than one year
(338,247)
(289,465)
Net assets
657,195 
710,471 
Capital and reserves
Called up share capital
303,030 
303,030 
Share premium
396,970 
396,970 
Profit and loss account
(42,805)
10,471 
Shareholders' funds
657,195 
710,471 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by
M A Buchan Director Company Registration No. SC714980
- 4 -
Recruitment Ventures Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Recruitment Ventures Limited is a private company, limited by shares, registered in Scotland, registration number SC714980. The registered office is Unit 1 Dunnottar House, Howe Moss Drive, Dyce, Aberdeen, AB21 0FN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared on a going concern basis under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have adopted the going concern basis of accounting in preparing the annual financial statements.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Pensions
Defined contribution pension plan The Company contributes to 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 the profit and loss when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
- 5 -
Recruitment Ventures Limited Notes to the Accounts for the year ended 31 December 2024
Taxation
Tax is recognised in the 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 balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets and depreciation
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 straight line basis. 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. Depreciation is provided on the following basis:
Fixtures & fittings
5 yrs Straight Line
Computer equipment
3 yrs Straight Line
Investments
Investments in shares are included at fair value.
Trade debtors and other receivables
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Trade creditors and other payables
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties, loans from related parties and investments in ordinary shares.
Distributions to shareholders
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.
- 6 -
Recruitment Ventures Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
5,063 
3,130 
8,193 
Additions
9,826 
4,057 
13,883 
At 31 December 2024
14,889 
7,187 
22,076 
Depreciation
At 1 January 2024
668 
503 
1,171 
Charge for the year
1,965 
1,825 
3,790 
At 31 December 2024
2,633 
2,328 
4,961 
Net book value
At 31 December 2024
12,256 
4,859 
17,115 
At 31 December 2023
4,395 
2,627 
7,022 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2024
850,000 
Valuation at 31 December 2024
850,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
188,080 
187,086 
Accrued income and prepayments
7,231 
7,228 
Other debtors
2,955 
2,914 
198,266 
197,228 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
15,599 
22,256 
Trade creditors
6,770 
10,635 
Amounts owed to group undertakings and other participating interests
40,204 
16,257 
Taxes and social security
5,435 
6,232 
Other creditors
704 
671 
Accruals
5,567 
3,290 
74,279 
59,341 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
338,247 
289,465 
- 7 -
Recruitment Ventures Limited Notes to the Accounts for the year ended 31 December 2024
9
Pension commitments
The Company contributed to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,664 (2023: £1,137). Contributions payable to the fund at the balance sheet date were £704 (2023: £344).
10
Transactions with related parties
During the Year Ended 31 December 2024, and the comparative Year Ended 31 December 2023 respectively, the Company entered into the following transactions with related parties: Owners Holding a participating Interest (2024; 2023) Opening Balance: (£271,218); (£288,735) Purchases: (£136,935); (£120,070) Net Payments: £112,988; £137,293 Net Loans (Received) / Advanced: (£20,453); £294 Closing Balance: (£315,618); (£271,218) Fellow Subsidiaries (2024;2023) Opening Balance: £111,056; £278,321 Sales: £528,315; £613,237 Net Receipts: (£517,202); (£736,852) Net Loans Received: (£28,788); (£43,650) Closing Balance: £93,382; £111,056 Associates (2024;2023) Opening Balance: £41,526; £nil Sales: £58,700; £53,304 Net Receipts: (£68,818); (£11,500) Net Loans Advanced / (Received): £458; (£278) Closing Balance: £31,866; £41,526
11
Controlling party
The Company's immediate parent company is I7V Renewables Limited, a company registered in the United Kingdom. The Company's ultimate parent undertaking is Indigo 7 Ventures Limited, a company registered in the United Kingdom. Indigo 7 Ventures Limited is controlled by a number of private individuals, all of whom own less than a 25% shareholding in the company.
12
Average number of employees
During the year the average number of employees was 6 (2023: 6).
- 8 -