QUEEN'S OVERSEAS RECRUITMENT LIMITED

Company Registration Number:
NI070836 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The company is a wholly owned subsidiary of Queen’s University Belfast. The principal activity of the company is to assist the promotion and funding of educational courses and the recruitment of students through INTO Queen’s LLP.

Political and charitable donations

The company made no political contributions in either the year ended 31 July 2024 or 31 July 2023.



Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

Professor Margaret Topping
Ms Caroline Young


Secretary Margaret Connolly

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 February 2025

And signed on behalf of the board by:
Name: Margaret Connolly
Status: Secretary

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Administrative expenses: ( 6,895 ) ( 6,657 )
Operating profit(or loss): (6,895) (6,657)
Interest receivable and similar income: 18,122 13,731
Profit(or loss) before tax: 11,227 7,074
Tax: 0 0
Profit(or loss) for the financial year: 11,227 7,074

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Investments: 3 150,000 150,000
Total fixed assets: 150,000 150,000
Current assets
Debtors: 4 268,123 263,732
Cash at bank and in hand: 34,282 26,320
Total current assets: 302,405 290,052
Creditors: amounts falling due within one year: 5 ( 448,835 ) ( 447,709 )
Net current assets (liabilities): (146,430) (157,657)
Total assets less current liabilities: 3,570 ( 7,657)
Total net assets (liabilities): 3,570 (7,657)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 3,569 (7,658 )
Total Shareholders' funds: 3,570 (7,657)

The notes form part of these financial statements

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 26 February 2025
and signed on behalf of the board by:

Name: Ms Caroline Young
Status: Director

The notes form part of these financial statements

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Fixed assets investments note

As at 31 July 2024, Queen’s Overseas Recruitment Limited has a capital investment of £150,000 (2023: £150,000) in INTO Queen’s LLP which the directors believe will be recovered. INTO Queen’s LLP is a Limited Partnership (incorporated in Northern Ireland) which has been established to attract and recruit international students to Queen’s University Belfast. It is a 50% joint venture between Queen’s Overseas Recruitment Limited and Newincco 922 Limited (a UK registered company). The joint venture was established in 2009. This joint venture made a deficit of £236,000 in the year to 31 July 2024 and has a deficit of £4,850,000 carried forward as at 31 July 2024 (consisting of undistributed losses to members). As such a potential deferred tax asset arose of which 50% relates to Queen’s Overseas Recruitment Limited. However, a deferred tax asset has not been recognised due to the uncertainty over the utilisation of these losses going forward.

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

2024 2023
£ £
Trade debtors 268,123 263,732
Total 268,123 263,732

QUEEN'S OVERSEAS RECRUITMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 439,577 439,564
Accruals and deferred income 9,258 8,145
Total 448,835 447,709