REGISTERED NUMBER: |
Financial Statements For The Year Ended 30 November 2024 |
for |
Global Recruitment Group Ltd |
REGISTERED NUMBER: |
Financial Statements For The Year Ended 30 November 2024 |
for |
Global Recruitment Group Ltd |
Global Recruitment Group Ltd (Registered number: SC514140) |
Contents of the Financial Statements |
For The Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Global Recruitment Group Ltd |
Company Information |
For The Year Ended 30 November 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Global Recruitment Group Ltd (Registered number: SC514140) |
Abridged Statement of Financial Position |
30 November 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Global Recruitment Group Ltd (Registered number: SC514140) |
Abridged Statement of Financial Position - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Global Recruitment Group Ltd (Registered number: SC514140) |
Notes to the Financial Statements |
For The Year Ended 30 November 2024 |
1. | COMPANY INFORMATION |
Global Recruitment Group Ltd is a private company limited by shares incorporated in Scotland. The registered office is 70 West Regent Street, Glasgow, G2 2QZ. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover represents represents net invoiced amounts of recruitment consultancy services. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: |
Leasehold improvements | 10% on cost |
Fixtures and fittings | 20% on reducing balance |
Computers | 20% on reducing balance |
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 fixed assets |
At each reporting period end date, the company reviews the carrying amounts of it tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
Taxation |
The tax expense represents the sum of the tax currently payable and deferred tax. |
Current tax |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date. |
Global Recruitment Group Ltd (Registered number: SC514140) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Retirement benefits |
Payments to defined contribution retirement benefits schemes are charged as an expense as they fall due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2023 |
and 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Global Recruitment Group Ltd (Registered number: SC514140) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
5. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
6. | RELATED PARTY TRANSACTIONS |
Transactions with related parties |
During the year the company entered into the following transactions with related parties: |
Management Charges Payable/(Receivable) |
2024 | 2023 |
£ | £ |
Related parties receivable | (56,427) | (79,588) |
Related parties payable | 102,505 | 85,178 |
The following amounts were outstanding at the reporting end date: |
2024 | 2023 |
£ | £ |
Amounts due to related parties |
Other related parties | - | 12,392 |
The following amounts were outstanding at the reporting end date: |
2024 | 2023 |
£ | £ |
Amounts due from related parties |
Other related parties | 24,874 | - |
Other information |
This balance is due from companies under common directorship for sales made of £1,322,818 (2023 - £1,154,462) during the year. |
7. | SECURED DEBTS |
Barclays PLC hold a fixed and floating charge over the whole of the property and undertakings of the company. |