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REGISTERED NUMBER: 07637730 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ACROW RECRUITMENT LTD

ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 56,499 65,832

CURRENT ASSETS
Debtors 5 281,506 493,390
Cash at bank and in hand 17,279 35,728
298,785 529,118
CREDITORS
Amounts falling due within one year 6 161,612 374,623
NET CURRENT ASSETS 137,173 154,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,672

220,327

CREDITORS
Amounts falling due after more than one year 7 30,062 36,390
NET ASSETS 163,610 183,937

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 163,609 183,936
163,610 183,937

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mr A Maher - Director


ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Acrow Recruitment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07637730

Registered office: Business & Technology Centre
Bessemer Drive
Stevenage
SG1 2DX

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance.

The company has adopted a policy of no depreciation charge in the year of acquisition but a full year charge will be provided in the year of disposal.


ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Factored debts


The company has its sales invoices factored . The company's factoring arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the factors are included within creditors as a liability.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand and short term deposits with an original maturity date of one month.Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 53,673 44,490 98,163
Additions 542 - 542
At 31 August 2024 54,215 44,490 98,705
DEPRECIATION
At 1 September 2023 32,331 - 32,331
Charge for year 3,201 6,674 9,875
At 31 August 2024 35,532 6,674 42,206
NET BOOK VALUE
At 31 August 2024 18,683 37,816 56,499
At 31 August 2023 21,342 44,490 65,832

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 147,318 355,098
Other debtors 134,188 138,292
281,506 493,390

Included in trade debtors are debts of £147,318 (2023: £355,098) subject to factoring by a legal charge on the company's book debts.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,329 6,329
Trade creditors 8,307 46,418
Taxation and social security 6,748 3,940
Other creditors 140,228 317,936
161,612 374,623

Included in other creditors is a net amount of £131,323 (2023: £281,596) owing to the factoring company which has a fixed and floating charge over the company's assets and there is also a negative pledge.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,062 36,390

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 36,391 -

ACROW RECRUITMENT LTD (REGISTERED NUMBER: 07637730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. RELATED PARTY DISCLOSURES

Included in the other debtors less than one year is an amount of £132,325 (2023: £132,325) due from the connected companies with common directorship and shareholdings.The loan was interest free and repayable on demand.