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REGISTERED NUMBER: 03948864 (England and Wales)















On Track Recruitment Ltd

Unaudited Financial Statements for the Year Ended 31 October 2024






On Track Recruitment Ltd (Registered number: 03948864)






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


On Track Recruitment Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr M R Smith
Miss H F Smith
Ms C C Gwyer





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





REGISTERED NUMBER: 03948864 (England and Wales)





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

On Track Recruitment Ltd (Registered number: 03948864)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 5,772 6,393
Tangible assets 5 1,666 2,350
7,438 8,743

CURRENT ASSETS
Debtors 6 885,152 951,760
Cash at bank and in hand 29,549 44,022
914,701 995,782
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

584,660

597,146
NET CURRENT ASSETS 330,041 398,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,479

407,379

PROVISIONS FOR LIABILITIES 3,638 2,642
NET ASSETS 333,841 404,737

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 333,840 404,736
SHAREHOLDERS' FUNDS 333,841 404,737

On Track Recruitment Ltd (Registered number: 03948864)

Balance Sheet - continued
31 October 2024


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.

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


On Track Recruitment Ltd (Registered number: 03948864)

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

1. STATUTORY INFORMATION

On Track Recruitment 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.

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.

Revenue recognition
Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those services. This also excludes rebates, discounts and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

On Track Recruitment Ltd (Registered number: 03948864)

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 third 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

On Track Recruitment Ltd (Registered number: 03948864)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023 7,178
Additions 2,550
At 31 October 2024 9,728
AMORTISATION
At 1 November 2023 785
Charge for year 3,171
At 31 October 2024 3,956
NET BOOK VALUE
At 31 October 2024 5,772
At 31 October 2023 6,393

On Track Recruitment Ltd (Registered number: 03948864)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2023 33,618 2,115 35,733
Additions 390 - 390
At 31 October 2024 34,008 2,115 36,123
DEPRECIATION
At 1 November 2023 31,268 2,115 33,383
Charge for year 1,074 - 1,074
At 31 October 2024 32,342 2,115 34,457
NET BOOK VALUE
At 31 October 2024 1,666 - 1,666
At 31 October 2023 2,350 - 2,350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 101,273 129,229
Amounts owed by group undertakings 756,308 788,483
Other debtors 27,571 34,048
885,152 951,760

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,341 2,577
Amounts owed to group undertakings 409,571 419,140
Taxation and social security 58,461 131,150
Other creditors 115,287 44,279
584,660 597,146

On Track Recruitment Ltd (Registered number: 03948864)

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

8. SECURED DEBTS

All debts with Close Brothers 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.

The debt between the parent company of the group and the previous owners of the company is secured by a debenture dated 23 June 2022 over all the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £9,333 ( 2023 - £23,333) and is in respect of a property lease.

11. ULTIMATE PARENT COMPANY

The company's parent company is Sammons Recruitment Group Ltd, whose registered office is 55 Havelock Road, Hastings, East Sussex, TN34 1BE.