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REGISTERED NUMBER: 03550887 (England and Wales)
















Strategic Report, Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2024

for


Discovery Recruitment Limited



Discovery Recruitment Limited (Registered number: 03550887)








Contents of the Financial Statements

for the year ended 30 June 2024





Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

4




Chartered Certified Accountants' Report  

5







Balance Sheet  

6




Notes to the Financial Statements

8





Discovery Recruitment Limited



Company Information

for the year ended 30 June 2024









DIRECTORS:

Mr J Evans


Mrs S E Evans







REGISTERED OFFICE:

3 Railway Court


Ten Pound Walk


Doncaster


South Yorkshire


DN4 5FB







REGISTERED NUMBER:

03550887 (England and Wales)







ACCOUNTANTS:

Royston Parkin Limited


2 President Buildings


Savile Street East


Sheffield


South Yorkshire


S4 7UQ



Discovery Recruitment Limited (Registered number: 03550887)



Strategic Report

for the year ended 30 June 2024


Business Review


Discovery continues to provide a full-service recruitment, development, and performance improvement offering across its key markets. The business demonstrated resilience over the year, maintaining a healthy gross margin of 48.2%, an improvement on the previous year (46.2%). This improvement reflects effective operational management, consistent delivery standards, and a focus on delivering value-added solutions to clients.


Despite ongoing uncertainty in the broader economic climate, the company's core services remained in demand, particularly in sectors where talent acquisition and performance transformation are business-critical. Operational cost efficiencies were achieved across several key categories, and the directors remain satisfied with the financial and strategic position of the business as at the year-end.



Principal Risks and Uncertainties


The business operates in a competitive and evolving landscape, where economic pressures, market shifts, and changes in client priorities can impact performance. The directors regularly review the company's risk exposure, with specific focus on the following areas:


- Market volatility within the recruitment and professional services sectors


- Cash flow and debtor risk, particularly in relation to client payment cycles


- Staffing and resource retention, ensuring we attract and retain talent aligned to our values and growth aspirations


- Innovation pressure, to maintain competitive advantage in a technology-led market


Mitigating actions include robust financial controls, ongoing investment in people, and diversification of service offerings to enhance resilience across different economic cycles.



Future Outlook


The future outlook for Discovery is positive. Our pipeline of opportunities remains strong, supported by deep, long-standing client relationships and a growing reputation for quality and innovation. Notably, we are seeing increased demand for our transformation services in the United States, where organisations are actively seeking sustainable, data-driven solutions to talent and performance challenges. This represents a significant growth area for the business.


We continue to invest in the proprietary behavioural models and methodology that underpin our transformation offering. These tools, developed in-house and enhanced through ongoing research and client feedback, provide robust insight into mindset, motivational drivers, and behavioural potential-enabling organisations to make informed decisions around recruitment, development, and change.


Alongside this, our investment in artificial intelligence remains a strategic priority. We are actively integrating AI into our profiling tools and delivery model to enhance the speed, depth, and impact of our insights. This commitment ensures our solutions remain not only evidence-based but also scalable and adaptive to client needs.




Discovery Recruitment Limited (Registered number: 03550887)



Strategic Report

for the year ended 30 June 2024


Our long-term vision is to lead the way in performance transformation by combining behavioural science, AI technology, and consulting expertise. The foundations built over the past year provide confidence that the business is well-placed to continue delivering strong, sustainable performance.


ON BEHALF OF THE BOARD:






Mr J Evans - Director



17 March 2025



Discovery Recruitment Limited (Registered number: 03550887)



Report of the Directors

for the year ended 30 June 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.  


PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a full service recruitment, development and performance improvement company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.


Mr J Evans

Mrs S E Evans


This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.


ON BEHALF OF THE BOARD:






Mr J Evans - Director



17 March 2025


Chartered Certified Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Discovery Recruitment Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Discovery Recruitment Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.  


This report is made solely to the Board of Directors of Discovery Recruitment 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 Discovery Recruitment Limited and state those matters that we have agreed to state to the Board of Directors of Discovery Recruitment Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at      

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.


To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.  


It is your duty to ensure that Discovery Recruitment 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 Discovery Recruitment Limited. You consider that Discovery Recruitment 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 Discovery Recruitment 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.    







Royston Parkin Limited

2 President Buildings

Savile Street East

Sheffield

South Yorkshire

S4 7UQ



17 March 2025



Discovery Recruitment Limited (Registered number: 03550887)



Balance Sheet

30 June 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Property, plant and equipment

5

41,480


51,216




CURRENT ASSETS

Debtors

6

1,517,863


1,462,964



Cash at bank

31,865


14,567



1,549,728


1,477,531



CREDITORS

Amounts falling due within one year

7

1,006,562


847,537



NET CURRENT ASSETS

543,166


629,994



TOTAL ASSETS LESS CURRENT

LIABILITIES

584,646


681,210




CREDITORS

Amounts falling due after more than

one year

8

(186,079

)

(290,430

)



PROVISIONS FOR LIABILITIES

(9,271

)

(11,532

)


NET ASSETS

389,296


379,248




CAPITAL AND RESERVES

Called up share capital

10


10



Retained earnings

389,286


379,238



389,296


379,248




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.



Discovery Recruitment Limited (Registered number: 03550887)



Balance Sheet - continued

30 June 2024



The financial statements have been prepared 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 17 March 2025 and were signed on its behalf by:






Mr J Evans - Director




Discovery Recruitment Limited (Registered number: 03550887)



Notes to the Financial Statements

for the year ended 30 June 2024


1.

STATUTORY INFORMATION



Discovery Recruitment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

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

Revenue 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.  


Plant and machinery etc

-  

25% on reducing balance and 20% on reducing balance



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


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.



Discovery Recruitment Limited (Registered number: 03550887)



Notes to the Financial Statements - continued

for the year ended 30 June 2024


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 10 (2023 - 14 ) .


4.

OPERATING PROFIT



The operating profit is stated after charging:



2024


2023

£   

£   



Depreciation - owned assets

10,285


12,766




5.

PROPERTY, PLANT AND EQUIPMENT


Plant and


machinery


etc

£   



COST


At 1 July 2023

259,479




Additions

549




At 30 June 2024

260,028




DEPRECIATION


At 1 July 2023

208,263




Charge for year

10,285




At 30 June 2024

218,548




NET BOOK VALUE


At 30 June 2024

41,480




At 30 June 2023

51,216




6.

DEBTORS

2024

2023


£   

£   



Amounts falling due within one year:


Trade debtors

812,722


878,133




Other debtors

530,141


409,831



1,342,863


1,287,964





Amounts falling due after more than one year:


Other debtors

175,000


175,000





Aggregate amounts

1,517,863


1,462,964





Discovery Recruitment Limited (Registered number: 03550887)



Notes to the Financial Statements - continued

for the year ended 30 June 2024


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Bank loans and overdrafts

399,231


476,464




Trade creditors

168,679


102,530




Taxation and social security

283,329


246,887




Other creditors

155,323


21,656



1,006,562


847,537




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR


2024

2023


£   

£   



Bank loans

186,079


290,430




9.

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


£   

£   



Mr J Evans and Mrs S E Evans


Balance outstanding at start of year

206,554


100,347




Amounts advanced

205,038


254,673




Amounts repaid

(167,943

)

(148,466

)



Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

243,649


206,554