Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Edward Joseph Bemrose 25/05/2018 27 March 2025 The principal activity of the company continued to be that of recruitment. 11382720 2024-03-31 11382720 bus:Director1 2024-03-31 11382720 2023-03-31 11382720 core:CurrentFinancialInstruments 2024-03-31 11382720 core:CurrentFinancialInstruments 2023-03-31 11382720 core:Non-currentFinancialInstruments 2024-03-31 11382720 core:Non-currentFinancialInstruments 2023-03-31 11382720 core:ShareCapital 2024-03-31 11382720 core:ShareCapital 2023-03-31 11382720 core:RetainedEarningsAccumulatedLosses 2024-03-31 11382720 core:RetainedEarningsAccumulatedLosses 2023-03-31 11382720 core:OtherPropertyPlantEquipment 2023-03-31 11382720 core:OtherPropertyPlantEquipment 2024-03-31 11382720 core:CostValuation 2023-03-31 11382720 core:CostValuation 2024-03-31 11382720 bus:OrdinaryShareClass1 2024-03-31 11382720 2023-04-01 2024-03-31 11382720 bus:FilletedAccounts 2023-04-01 2024-03-31 11382720 bus:SmallEntities 2023-04-01 2024-03-31 11382720 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11382720 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11382720 bus:Director1 2023-04-01 2024-03-31 11382720 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 11382720 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11382720 2022-04-01 2023-03-31 11382720 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 11382720 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11382720 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11382720 (England and Wales)

TEQOLOGY RECRUITMENT LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

TEQOLOGY RECRUITMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

TEQOLOGY RECRUITMENT LTD

BALANCE SHEET

AS AT 31 MARCH 2024
TEQOLOGY RECRUITMENT LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,129 1,922
Investments 5 15,000 15,000
16,129 16,922
Current assets
Debtors 6 111,932 142,565
Cash at bank and in hand 5 12,291
111,937 154,856
Creditors: amounts falling due within one year 7 ( 52,048) ( 39,742)
Net current assets 59,889 115,114
Total assets less current liabilities 76,018 132,036
Creditors: amounts falling due after more than one year 8 ( 37,294) ( 38,362)
Net assets 38,724 93,674
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 38,723 93,673
Total shareholder's funds 38,724 93,674

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Teqology Recruitment Ltd (registered number: 11382720) were approved and authorised for issue by the Director on 27 March 2025. They were signed on its behalf by:

Edward Joseph Bemrose
Director
TEQOLOGY RECRUITMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
TEQOLOGY RECRUITMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Teqology Recruitment Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, 201 Great Portland Street, London, W1W 5AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line
15 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 8,310 8,310
At 31 March 2024 8,310 8,310
Accumulated depreciation
At 01 April 2023 6,388 6,388
Charge for the financial year 793 793
At 31 March 2024 7,181 7,181
Net book value
At 31 March 2024 1,129 1,129
At 31 March 2023 1,922 1,922

5. Fixed asset investments

Loans Other investments Total
£ £ £
Cost or valuation before impairment
At 01 April 2023 14,800 200 15,000
At 31 March 2024 14,800 200 15,000
Carrying value at 31 March 2024 14,800 200 15,000
Carrying value at 31 March 2023 14,800 200 15,000

6. Debtors

2024 2023
£ £
Trade debtors 24,840 6,163
Amounts owed by director 64,969 114,928
Prepayments 649 0
Other debtors 21,474 21,474
111,932 142,565

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 21,051 6,047
Trade creditors 3,228 684
Accruals 4,700 1,225
Taxation and social security 23,069 31,786
52,048 39,742

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 37,294 38,362

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Total loan outstanding owed by the director to the company 122,304 114,929

The loan is repayable on demand and interest is charged on the outstanding balance at 2.25% (2023 - 2%)

Dividends totaling £56,771 (2023 - £50,000) were paid in the year in respect of shares held by the company's directors.