Registered number
08874719
Sky Recruitment Solutions Limited
Filleted Accounts
28 February 2025
Sky Recruitment Solutions Limited
Registered number: 08874719
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 11,995 18,074
Current assets
Debtors 4 1,447,348 1,384,270
Cash at bank and in hand 96,921 61,956
1,544,269 1,446,226
Creditors: amounts falling due within one year 5 (1,237,303) (998,035)
Net current assets 306,966 448,191
Total assets less current liabilities 318,961 466,265
Creditors: amounts falling due after more than one year 6 (2,494) (12,494)
Provisions for liabilities (3,299) (4,500)
Net assets 313,168 449,271
Capital and reserves
Called up share capital 100 100
Profit and loss account 313,068 449,171
Shareholder's funds 313,168 449,271
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr David Torrington
Director
Approved by the board on 12 June 2025
Sky Recruitment Solutions Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 25% on reducing balance basis
Computer equipment 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. 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 for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 26 30
3 Tangible fixed assets
Fixtures and fittings Computer Equipment Total
£ £ £
Cost
At 1 March 2024 16,945 25,449 42,394
Additions - 1,536 1,536
Disposals - (844) (844)
At 28 February 2025 16,945 26,141 43,086
Depreciation
At 1 March 2024 9,058 15,262 24,320
Charge for the year 1,966 5,456 7,422
On disposals - (651) (651)
At 28 February 2025 11,024 20,067 31,091
Net book value
At 28 February 2025 5,921 6,074 11,995
At 29 February 2024 7,887 10,187 18,074
4 Debtors 2025 2024
£ £
Trade debtors 1,224,538 1,177,477
Amounts owed by group undertakings and undertakings in which the company has a participating interest 224 224
Other debtors 222,586 206,569
1,447,348 1,384,270
Included in Trade debtors are debts subject to invoice discounting of £1,224,538
(2024: £1,177,477).
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 367,340 334,771
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,740 1,229
Taxation and social security costs 106,964 151,603
Other creditors 742,259 500,432
1,237,303 998,035
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 2,494 12,494
7 Loans 2025 2024
£ £
Creditors include:
Other creditors 555,537 397,447
The above balance is secured by fixed and floating charge over the assets of the company.
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 3,567 10,701
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr David Torrington
Loan 28,979 180,515 (176,000) 33,494
28,979 180,515 (176,000) 33,494
10 Controlling party
The immediate parent company is Capella Capital (Parent Company) Limited. The ultimate controlling party are Mr D and Mrs E Torrington.
11 Other information
Sky Recruitment Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
57 Ashbourne Road
Derby
DE22 3FS
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