Company registration number 11123999 (England and Wales)
Recruit Ready Partnership Limited
financial statements
For the year ended 31 October 2024
Recruit Ready Partnership Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Recruit Ready Partnership Limited
Statement of financial position
As at 31 October 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,835
6,186
Tangible assets
5
974
2,835
7,160
Current assets
Debtors
6
216,725
200,917
Cash at bank and in hand
97
1,080
216,822
201,997
Creditors: amounts falling due within one year
7
(201,002)
(186,072)
Net current assets
15,820
15,925
Total assets less current liabilities
18,655
23,085
Provisions for liabilities
(244)
Net assets
18,655
22,841
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,555
22,741
Total equity
18,655
22,841
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
S Pendergast
Director
Company registration number 11123999 (England and Wales)
Recruit Ready Partnership Limited
Notes to the financial statements
For the year ended 31 October 2024
- 2 -
1
Accounting policies
Company information
Recruit Ready Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A Telford Court, Chester Gates Business Park, Chester, England, CH1 6LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
evenly over their estimated useful life of 5 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 25% on cost
Computers
- 25% on cost
Recruit Ready Partnership Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 3 -
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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.
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 the income statement.
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Recruit Ready Partnership Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 4 -
2
Judgements and key sources of estimation uncertainty
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
3
4
Intangible fixed assets
Other
£
Cost
At 1 November 2023 and 31 October 2024
15,464
Amortisation and impairment
At 1 November 2023
9,278
Amortisation charged for the year
3,351
At 31 October 2024
12,629
Carrying amount
At 31 October 2024
2,835
At 31 October 2023
6,186
Recruit Ready Partnership Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 and 31 October 2024
16,427
Depreciation and impairment
At 1 November 2023
15,453
Depreciation charged in the year
974
At 31 October 2024
16,427
Carrying amount
At 31 October 2024
At 31 October 2023
974
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
216,725
200,917
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
(500)
Amounts owed to group undertakings
178,326
178,374
Taxation and social security
22,676
8,198
201,002
186,072
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Richard Taylor FCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
29 July 2025
9
Parent company
Recruit Ready Partnership Limited
Notes to the financial statements (continued)
For the year ended 31 October 2024
9
Parent company
(Continued)
- 6 -
At the year end the company's immediate parent and ultimate controlling party was Bluestones Investments Group Limited, a company registered in England and Wales. The results of the company are included within the consolidated financial statements of Bluestones Investment Group Limited, copies of which can be obtained from Companies House. The company's registered office is Unit A Telford Court, Chester Gates Business Park, Chester, Cheshire, CH1 6LT.