2023-11-012024-10-312024-10-31false05801893RED RECRUITMENT 24/7 LIMITED2025-03-06falseiso4217:GBPxbrli:pure058018932023-11-01058018932024-10-31058018932023-11-012024-10-31058018932022-11-01058018932023-10-31058018932022-11-012023-10-3105801893bus:SmallEntities2023-11-012024-10-3105801893bus:AuditExempt-NoAccountantsReport2023-11-012024-10-3105801893bus:FullAccounts2023-11-012024-10-3105801893bus:PrivateLimitedCompanyLtd2023-11-012024-10-3105801893core:WithinOneYear2024-10-3105801893core:AfterOneYear2024-10-3105801893core:WithinOneYear2023-10-3105801893core:AfterOneYear2023-10-3105801893core:ShareCapital2024-10-3105801893core:SharePremium2024-10-3105801893core:RevaluationReserve2024-10-3105801893core:OtherReservesSubtotal2024-10-3105801893core:RetainedEarningsAccumulatedLosses2024-10-3105801893core:ShareCapital2023-10-3105801893core:SharePremium2023-10-3105801893core:RevaluationReserve2023-10-3105801893core:OtherReservesSubtotal2023-10-3105801893core:RetainedEarningsAccumulatedLosses2023-10-3105801893core:LandBuildings2024-10-3105801893core:PlantMachinery2024-10-3105801893core:Vehicles2024-10-3105801893core:FurnitureFittings2024-10-3105801893core:OfficeEquipment2024-10-3105801893core:NetGoodwill2024-10-3105801893core:IntangibleAssetsOtherThanGoodwill2024-10-3105801893core:ListedExchangeTraded2024-10-3105801893core:UnlistedNon-exchangeTraded2024-10-3105801893core:LandBuildings2023-10-3105801893core:PlantMachinery2023-10-3105801893core:Vehicles2023-10-3105801893core:FurnitureFittings2023-10-3105801893core:OfficeEquipment2023-10-3105801893core:NetGoodwill2023-10-3105801893core:IntangibleAssetsOtherThanGoodwill2023-10-3105801893core:ListedExchangeTraded2023-10-3105801893core:UnlistedNon-exchangeTraded2023-10-3105801893core:LandBuildings2023-11-012024-10-3105801893core:PlantMachinery2023-11-012024-10-3105801893core:Vehicles2023-11-012024-10-3105801893core:FurnitureFittings2023-11-012024-10-3105801893core:OfficeEquipment2023-11-012024-10-3105801893core:NetGoodwill2023-11-012024-10-3105801893core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3105801893core:ListedExchangeTraded2023-11-012024-10-3105801893core:UnlistedNon-exchangeTraded2023-11-012024-10-3105801893core:MoreThanFiveYears2023-11-012024-10-3105801893core:Non-currentFinancialInstruments2024-10-3105801893core:Non-currentFinancialInstruments2023-10-3105801893dpl:CostSales2023-11-012024-10-3105801893dpl:DistributionCosts2023-11-012024-10-3105801893core:LandBuildings2023-11-012024-10-3105801893core:PlantMachinery2023-11-012024-10-3105801893core:Vehicles2023-11-012024-10-3105801893core:FurnitureFittings2023-11-012024-10-3105801893core:OfficeEquipment2023-11-012024-10-3105801893dpl:AdministrativeExpenses2023-11-012024-10-3105801893core:NetGoodwill2023-11-012024-10-3105801893core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3105801893dpl:GroupUndertakings2023-11-012024-10-3105801893dpl:ParticipatingInterests2023-11-012024-10-3105801893dpl:GroupUndertakingscore:ListedExchangeTraded2023-11-012024-10-3105801893core:ListedExchangeTraded2023-11-012024-10-3105801893dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-11-012024-10-3105801893core:UnlistedNon-exchangeTraded2023-11-012024-10-3105801893dpl:CostSales2022-11-012023-10-3105801893dpl:DistributionCosts2022-11-012023-10-3105801893core:LandBuildings2022-11-012023-10-3105801893core:PlantMachinery2022-11-012023-10-3105801893core:Vehicles2022-11-012023-10-3105801893core:FurnitureFittings2022-11-012023-10-3105801893core:OfficeEquipment2022-11-012023-10-3105801893dpl:AdministrativeExpenses2022-11-012023-10-3105801893core:NetGoodwill2022-11-012023-10-3105801893core:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3105801893dpl:GroupUndertakings2022-11-012023-10-3105801893dpl:ParticipatingInterests2022-11-012023-10-3105801893dpl:GroupUndertakingscore:ListedExchangeTraded2022-11-012023-10-3105801893core:ListedExchangeTraded2022-11-012023-10-3105801893dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-11-012023-10-3105801893core:UnlistedNon-exchangeTraded2022-11-012023-10-3105801893core:NetGoodwill2024-10-3105801893core:IntangibleAssetsOtherThanGoodwill2024-10-3105801893core:LandBuildings2024-10-3105801893core:PlantMachinery2024-10-3105801893core:Vehicles2024-10-3105801893core:FurnitureFittings2024-10-3105801893core:OfficeEquipment2024-10-3105801893core:AfterOneYear2024-10-3105801893core:WithinOneYear2024-10-3105801893core:ListedExchangeTraded2024-10-3105801893core:UnlistedNon-exchangeTraded2024-10-3105801893core:ShareCapital2024-10-3105801893core:SharePremium2024-10-3105801893core:RevaluationReserve2024-10-3105801893core:OtherReservesSubtotal2024-10-3105801893core:RetainedEarningsAccumulatedLosses2024-10-3105801893core:NetGoodwill2023-10-3105801893core:IntangibleAssetsOtherThanGoodwill2023-10-3105801893core:LandBuildings2023-10-3105801893core:PlantMachinery2023-10-3105801893core:Vehicles2023-10-3105801893core:FurnitureFittings2023-10-3105801893core:OfficeEquipment2023-10-3105801893core:AfterOneYear2023-10-3105801893core:WithinOneYear2023-10-3105801893core:ListedExchangeTraded2023-10-3105801893core:UnlistedNon-exchangeTraded2023-10-3105801893core:ShareCapital2023-10-3105801893core:SharePremium2023-10-3105801893core:RevaluationReserve2023-10-3105801893core:OtherReservesSubtotal2023-10-3105801893core:RetainedEarningsAccumulatedLosses2023-10-3105801893core:NetGoodwill2022-11-0105801893core:IntangibleAssetsOtherThanGoodwill2022-11-0105801893core:LandBuildings2022-11-0105801893core:PlantMachinery2022-11-0105801893core:Vehicles2022-11-0105801893core:FurnitureFittings2022-11-0105801893core:OfficeEquipment2022-11-0105801893core:AfterOneYear2022-11-0105801893core:WithinOneYear2022-11-0105801893core:ListedExchangeTraded2022-11-0105801893core:UnlistedNon-exchangeTraded2022-11-0105801893core:ShareCapital2022-11-0105801893core:SharePremium2022-11-0105801893core:RevaluationReserve2022-11-0105801893core:OtherReservesSubtotal2022-11-0105801893core:RetainedEarningsAccumulatedLosses2022-11-0105801893core:AfterOneYear2023-11-012024-10-3105801893core:WithinOneYear2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:CostValuation2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3105801893core:Non-currentFinancialInstrumentscore:CostValuation2024-10-3105801893core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-10-3105801893core:Non-currentFinancialInstrumentscore:CostValuation2023-10-3105801893core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-10-3105801893core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-10-3105801893bus:Director12023-11-012024-10-3105801893bus:Director22023-11-012024-10-3105801893core:FurnitureFittingsToolsEquipment2023-10-3105801893core:FurnitureFittingsToolsEquipment2023-11-012024-10-3105801893core:FurnitureFittingsToolsEquipment2024-10-31

RED RECRUITMENT 24/7 LIMITED

Registered Number
05801893
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

RED RECRUITMENT 24/7 LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

Mr M Morley
Mrs M P Morley

Company Secretary

Mr M Morley

Registered Address

4 Pioneer Way
Off Doddington Road
Lincoln
LN6 3DH

Registered Number

05801893 (England and Wales)
RED RECRUITMENT 24/7 LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3209,516241,885
209,516241,885
Current assets
Stocks44,5004,500
Debtors5643,090529,921
Cash at bank and on hand154,25633,381
801,846567,802
Creditors amounts falling due within one year6(861,123)(613,013)
Net current assets (liabilities)(59,277)(45,211)
Total assets less current liabilities150,239196,674
Creditors amounts falling due after one year7(90,830)(118,087)
Provisions for liabilities9(32,293)(37,839)
Net assets27,11640,748
Capital and reserves
Called up share capital8080
Share premium2020
Profit and loss account27,01640,648
Shareholders' funds27,11640,748
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
Mr M Morley
Director
Registered Company No. 05801893
RED RECRUITMENT 24/7 LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Leasehold improvements - over the term of the lease Plant and equipment, fixtures and fittings - varying rates to write assets off over their estimate useful life Motor vehicles - varying rates
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year1512
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 November 23101,350204,02449,486239,755594,615
Additions--3,0009,09712,097
At 31 October 24101,350204,02452,486248,852606,712
Depreciation and impairment
At 01 November 2366,29942,18238,621205,628352,730
Charge for year7,15815,1625,20416,94244,466
At 31 October 2473,45757,34443,825222,570397,196
Net book value
At 31 October 2427,893146,6808,66126,282209,516
At 31 October 2335,051161,84210,86534,127241,885
4.Stocks

2024

2023

££
Raw materials and consumables4,5004,500
Total4,5004,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables411,588357,789
Amounts owed by group undertakings140,614111,814
Other debtors10,63110,631
Prepayments and accrued income80,25749,687
Total643,090529,921
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,10522,531
Bank borrowings and overdrafts379,618261,134
Taxation and social security219,068162,228
Finance lease and HP contracts18,18018,190
Other creditors175,48683,101
Accrued liabilities and deferred income50,66665,829
Total861,123613,013
Hire and lease purchase creditors are secured against the assets to which they relate. Included in bank borrowings is an amount of £370,662 (2023 - £248,942) in respect of an invoice financing facility provided by the company's bankers
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,75235,838
Other creditors64,07882,249
Total90,830118,087
Hire and lease purchase creditors are secured against the assets to which they relate. Bank borrowings Bounce Back Loan is denominated in £ with a nominal interest rate of market rate, and the final instalment is due on 31 October 2026. The carrying amount at year end is £26,752 (2023 - £37,530) Other loan is denominated in £ with a nominal interest rate of market rate, and the final instalment is due on 30 April 2024. The carrying amount at year end is £8,957 (2023 - £10,500).
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts64,07982,249
Hire and lease purchase creditors are secured against the assets to which they relate.
9.Provisions for liabilities

2024

2023

££
Other provisions32,29337,839
Total32,29337,839
10.Other commitments
At 31st October 2024 the company had commitments under non-cancellable operating leases of £174,336 (2023 - £237,696).