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Registration number: 06056116

Liquid Recruitment Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Liquid Recruitment Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Liquid Recruitment Solutions Limited

Company Information

Directors

Mr P Sherman

Mr D Sherman

Company secretary

Mr P Sherman

Registered office

Fawley House
Sterling Grove Accountants
2 Regatta Place, Marlow Road
Bourne End
Bucks
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Liquid Recruitment Solutions Limited

(Registration number: 06056116)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

80,947

89,654

Current assets

 

Debtors

5

563,163

581,075

Cash at bank and in hand

 

10,311

51,319

 

573,474

632,394

Creditors: Amounts falling due within one year

6

(415,064)

(409,702)

Net current assets

 

158,410

222,692

Total assets less current liabilities

 

239,357

312,346

Creditors: Amounts falling due after more than one year

6

(231,629)

(297,280)

Provisions for liabilities

(6,000)

(13,000)

Net assets

 

1,728

2,066

Capital and reserves

 

Called up share capital

101

101

Retained earnings

1,627

1,965

Shareholders' funds

 

1,728

2,066

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 May 2025 and signed on its behalf by:
 

.........................................
Mr D Sherman
Director

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
Sterling Grove Accountants
2 Regatta Place, Marlow Road
Bourne End
Bucks
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the Board on 13 May 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

The financial statements have been prepared on a going concern basis.

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.

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.

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Motor vehicles

10% straight line

Furniture, fittings and equipment

25% reducing balance

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.

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

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 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 directors) during the year, was 15 (2024 - 9).

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

37,054

94,434

131,488

Additions

1,113

-

1,113

At 31 March 2025

38,167

94,434

132,601

Depreciation

At 1 April 2024

35,546

6,288

41,834

Charge for the year

377

9,443

9,820

At 31 March 2025

35,923

15,731

51,654

Carrying amount

At 31 March 2025

2,244

78,703

80,947

At 31 March 2024

1,508

88,146

89,654

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

260,263

289,571

Amounts owed by related parties

9

183,018

180,938

Prepayments

 

4,031

588

Other debtors

 

115,851

109,978

   

563,163

581,075

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

282,357

303,881

Trade creditors

 

3,859

3,067

Taxation and social security

 

90,809

58,140

Accruals and deferred income

 

37,375

43,913

Other creditors

 

664

701

 

415,064

409,702

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

231,629

297,280

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

78,666

107,757

Hire purchase contracts

47,110

60,048

Other borrowings

105,853

129,475

231,629

297,280

Current loans and borrowings

2025
£

2024
£

Bank borrowings

29,091

25,339

Bank overdrafts

-

2,804

Hire purchase contracts

12,937

11,176

Other borrowings

240,329

264,562

282,357

303,881

Other borrowings

The carrying amount of debt factoring at year end is £216,707 (2024 - £245,454).

The loan is secured on the trade debtors to which it relates.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £2,314 (2024 - £1,362).

 

Liquid Recruitment Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Mr P Sherman

82,962

102,308

(100,072)

85,198

Mr D Sherman

97,976

101,677

(101,833)

97,820

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr P Sherman

45,257

87,492

(49,787)

82,962

Mr D Sherman

67,992

78,771

(48,787)

97,976