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Registered Number: 09824006
England and Wales

 

 

 

RECRUITMENT SMART TECHNOLOGIES LTD



Amended Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025
Directors Yusuf Jazakallah
Pawan Lokwani
Registered Number 09824006
Registered Office 2 Frederick Street
Kings Cross
London
WC1X 0ND
Accountants Swenta
167-169 Great Portland Street,
5th Floor, London,
United Kingdom
W1W 5PF
Bankers HSBC Plc,
60 Queen Victoria Street
London
United Kingdom
EC4N 4TR

1
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Swenta
31 March 2025



....................................................

Swenta

167-169 Great Portland Street,
5th Floor, London,
United Kingdom
W1W 5PF
10 July 2025
2
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Intangible fixed assets 3 1,815,321    1,445,441 
Tangible fixed assets 4 7,227    4,411 
1,822,548    1,449,852 
Current assets      
Debtors: amounts falling due within one year 5 219,013    164,484 
Cash at bank and in hand 356,242    19,277 
575,255    183,761 
Creditors: amount falling due within one year 6 (117,078)   (217,942)
Net current assets 458,177    (34,181)
 
Total assets less current liabilities 2,280,725    1,415,671 
Creditors: amount falling due after more than one year 7 (267,182)   (172,606)
Net assets 2,013,543    1,243,065 
 

Capital and reserves
     
Called up share capital 239,225    206,806 
Share premium account 8 3,264,674    2,235,703 
Special Reserves 9 186,388    186,388 
Profit and loss account (1,676,744)   (1,385,832)
Shareholders' funds 2,013,543    1,243,065 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 July 2025 and were signed on its behalf by:


-------------------------------
Yusuf Jazakallah
Director
3
General Information
RECRUITMENT SMART TECHNOLOGIES LTD is a private company, limited by shares, registered in England and Wales, registration number 09824006, registration address 2 Frederick Street, Kings Cross, London, WC1X 0ND.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard FRS 102 Section 1A for Smaller Entities (effective January 2016).
Turnover
Turnover represents revenue earned from rendering of services and is measured at the fair value of the consideration received or receivable, net of discounts and taxes.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, as follows:

                             Intangible assets 10 Years
Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 18% Reducing Balance
2.

Average number of employees


Average number of employees during the year was 35 (2024 : 35).
3.

Intangible fixed assets

Cost Intangible assets   Total
  £   £
At 01 April 2024 1,804,742    1,804,742 
Additions 583,824    583,824 
Disposals  
At 31 March 2025 2,388,566    2,388,566 
Amortisation
At 01 April 2024 359,301    359,301 
Charge for year 213,944    213,944 
On disposals  
At 31 March 2025 573,245    573,245 
Net book values
At 31 March 2025 1,815,321    1,815,321 
At 31 March 2024 1,445,441    1,445,441 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2024 12,053    12,053 
Additions 3,690    3,690 
Disposals  
At 31 March 2025 15,743    15,743 
Depreciation
At 01 April 2024 7,643    7,643 
Charge for year 873    873 
On disposals  
At 31 March 2025 8,516    8,516 
Net book values
Closing balance as at 31 March 2025 7,227    7,227 
Opening balance as at 01 April 2024 4,411    4,411 


5.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 206,894    154,027 
VAT 12,119    10,457 
219,013    164,484 
Trade Debtors; Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses.

6.

Creditors: amount falling due within one year

2025
£
  2024
£
PAYE & Social Security 45,844    140,118 
Accrued Expenses 48,516    56,918 
Wages & Salaries Control Account 11,464    12,612 
Directors' Current Accounts 11,254    8,294 
117,078    217,942 

7.

Creditors: amount falling due after more than one year

2025
£
  2024
£
GLIF LD LP 92,591    152,777 
HSBC Loan 9,181    19,829 
Capchase Loan 165,410   
267,182    172,606 

8.

Share premium account

2025
£
  2024
£
Equity Share Premium b/fwd 3,264,674    2,235,703 
3,264,674    2,235,703 

9.

Special Reserves

2025
£
  2024
£
Subordinated Debt b/fwd 186,388    186,388 
186,388    186,388 
Subordinated Debt
Expenses incurred on behalf of the company by Founder Shareholders. It carries
interest and will be converted into Shares, in case of insufficient Cash Flows.

10.

Called up share capital

Particulars   Current
£
Allotted, issued and fully paid Ordinary shares of £0.01 each 150,080 
Allotted, issued and fully paid Ordinary B -EIS shares of £0.01 each 19,661 
Allotted, issued and fully paid Ordinary C shares of £0.01 each 9,387 
Allotted, issued and fully paid Ordinary D shares of £0.01 each 60,097 
239,225 
Each holder of Founder Ordinary Shares as such shall be entitled to two votes for each
share of Founder Ordinary shares held of record entitled to vote; entitled to full rights with respect of dividends and distributions. 
The holders of Series B EIS shares shall be entitled to one vote for each share held of
record by such holders on all matters on which shareholders are generally entitled to vote; entitled to participate equally in dividends; in case the company is wound up; pari passu rights distribution of assets after all the debts have been paid. 
The holders of Series C ESOP Ordinary shares shall be entitled to one vote for each share
held of record by such holders on all matters on which shareholders are generally entitled to vote; entitled to participate equally in dividends; in case the company is wound up; pari passu rights distribution of assets after all the debts have been paid.
4