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REGISTERED NUMBER: 12130517 (England and Wales)















Sammons Recruitment Group Ltd

Unaudited Financial Statements for the Year Ended 31 October 2024






Sammons Recruitment Group Ltd (Registered number: 12130517)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sammons Recruitment Group Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr M R Smith
Miss H F Smith





REGISTERED OFFICE: 55 Havelock Road
Hastings
East Sussex
TN34 1BE





REGISTERED NUMBER: 12130517 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Sammons Recruitment Group Ltd (Registered number: 12130517)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 3,503,327 3,523,547

CURRENT ASSETS
Debtors 5 411,924 421,513
Cash at bank 219 2,239
412,143 423,752
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

2,747,268

2,608,167
NET CURRENT LIABILITIES (2,335,125 ) (2,184,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,168,202

1,339,132

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

760,420

1,042,451
NET ASSETS 407,782 296,681

CAPITAL AND RESERVES
Called up share capital 9 104 104
Retained earnings 407,678 296,577
SHAREHOLDERS' FUNDS 407,782 296,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Sammons Recruitment Group Ltd (Registered number: 12130517)

Balance Sheet - continued
31 October 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:




Mr M R Smith - Director



Miss H F Smith - Director


Sammons Recruitment Group Ltd (Registered number: 12130517)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Sammons Recruitment Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Sammons Recruitment Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Management charges receivable
Management charges receivable are measured at the fair value of the consideration received or receivable excluding value added tax.

Dividend income
Dividend income is recognised when the right to receive payment is established.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provisions for impairment.

Sammons Recruitment Group Ltd (Registered number: 12130517)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Sammons Recruitment Group Ltd (Registered number: 12130517)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023 3,523,547
Impairments (20,220 )
At 31 October 2024 3,503,327
NET BOOK VALUE
At 31 October 2024 3,503,327
At 31 October 2023 3,523,547

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,271 -
Amounts owed by group undertakings 409,572 419,140
Other debtors 1,081 2,373
411,924 421,513

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,231 8,940
Amounts owed to group undertakings 2,612,868 2,449,036
Taxation and social security 393 -
Other creditors 126,776 150,191
2,747,268 2,608,167

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 760,420 1,042,451

8. SECURED DEBTS

All debts with Close Brothers Limited in respect of a debt purchase agreement are secured by way of a fixed and floating charge dated 23 June 2022 over all assets of the company.

Sammons Recruitment Group Ltd (Registered number: 12130517)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
520,000 Ordinary A £0.0001 52 52
520,000 Ordinary B £0.0001 52 52
104 104

The Ordinary A and Ordinary B shares rank pari passu in all respects.