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REGISTERED NUMBER: SC514140 (Scotland)















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: Mrs L Murphy
Mr G Murphy





REGISTERED OFFICE: C/O Robb Ferguson
Regent Court
70 West Regent Street
Glasgow
G2 2QZ





REGISTERED NUMBER: SC514140 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered 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 16,024 18,589

CURRENT ASSETS
Debtors 373,072 472,905
Cash at bank 598,141 597,498
971,213 1,070,403
CREDITORS
Amounts falling due within one year 516,033 640,702
NET CURRENT ASSETS 455,180 429,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,204

448,290

PROVISIONS FOR LIABILITIES 343 429
NET ASSETS 470,861 447,861

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 470,851 447,851
470,861 447,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





Mr G Murphy - Director


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 improvements10% on cost
Fixtures and fittings20% on reducing balance
Computers20% 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 83 (2023 - 83 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 30,556
DEPRECIATION
At 1 December 2023 11,967
Charge for year 2,565
At 30 November 2024 14,532
NET BOOK VALUE
At 30 November 2024 16,024
At 30 November 2023 18,589

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 4,971 -
Between one and five years 12,267 -
17,238 -

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.