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Registration number: SC557111

CJC Recruit Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

CJC Recruit Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

CJC Recruit Limited

Company Information

Director

Ms C Chisholm

Registered office

C/o Defacto Fd Limited Merlin House Mossland Road
Hillington Park
Glasgow
Renfrewshire
G52 4XZ

 

CJC Recruit Limited

(Registration number: SC557111)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

66,230

85,096

Current assets

 

Debtors

5

221,998

436,273

Cash at bank and in hand

 

19,628

18,489

 

241,626

454,762

Creditors: Amounts falling due within one year

6

(139,881)

(369,326)

Net current assets

 

101,745

85,436

Total assets less current liabilities

 

167,975

170,532

Creditors: Amounts falling due after more than one year

6

(79,820)

(94,908)

Provisions for liabilities

(4,426)

(2,383)

Net assets

 

83,729

73,241

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

83,629

73,141

Shareholders' funds

 

83,729

73,241

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 April 2025
 

.........................................
Ms C Chisholm
Director

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
C/o Defacto Fd Limited Merlin House Mossland Road
Hillington Park
Glasgow
Renfrewshire
G52 4XZ
UK

These financial statements were authorised for issue by the director on 7 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Straight line

Office equipment

25% Straight line

Motor Vehicles

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

5,730

89,623

95,353

At 31 July 2024

5,730

89,623

95,353

Depreciation

At 1 August 2023

4,282

5,975

10,257

Charge for the year

941

17,925

18,866

At 31 July 2024

5,223

23,900

29,123

Carrying amount

At 31 July 2024

507

65,723

66,230

At 31 July 2023

1,448

83,648

85,096

5

Debtors

Current

2024
£

2023
£

Trade debtors

171,621

398,136

Prepayments

199

2,012

Other debtors

50,178

36,125

 

221,998

436,273

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

74,096

328,599

Trade creditors

 

19,180

10,027

Taxation and social security

 

45,175

30,700

Other creditors

 

1,430

-

 

139,881

369,326

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

79,820

94,908

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

40

40

40

40

Ordinary B Shares of £1 each

40

40

40

40

Ordinary C Shares of £1 each

20

20

20

20

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,634

23,682

Hire purchase contracts

59,186

64,226

Other borrowings

7,000

7,000

79,820

94,908

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,784

10,783

Bank overdrafts

58,332

313,401

Hire purchase contracts

4,980

4,415

74,096

328,599

 

CJC Recruit Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £58,333 (2023 - £313,401). Close Invoice Finance Ltd holds a floating chargeover the assets of the company.

10

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Ms C Chisholm

Loan - Repayable on demand - Interest charged at the official rate

27,306

45,517

(34,796)

38,027

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Ms C Chisholm

Loan - Repayable on demand - Interest charged at the official rate

25,599

38,200

(36,493)

27,306

Summary of transactions with other related parties

BGL Contracts Limited At 31 July 2024. CJC Recruit Limited is due the sum of £2,500 (2023 - £2,500) to BGL Contracts Limited; a related company in which the director is a shareholder of CJC Recruit Limited.
The loan is interest fee and repayable only when sufficent cash flow allows.