Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01true18falsefalseNo description of principal activity8trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09878379 2024-01-01 2024-12-31 09878379 2023-01-01 2023-12-31 09878379 2024-12-31 09878379 2023-12-31 09878379 c:Director1 2024-01-01 2024-12-31 09878379 c:Director2 2024-01-01 2024-12-31 09878379 c:Director2 2024-12-31 09878379 c:Director3 2024-01-01 2024-12-31 09878379 c:Director4 2024-01-01 2024-12-31 09878379 c:Director4 2024-12-31 09878379 c:Director5 2024-01-01 2024-12-31 09878379 c:RegisteredOffice 2024-01-01 2024-12-31 09878379 d:FurnitureFittings 2024-01-01 2024-12-31 09878379 d:FurnitureFittings 2024-12-31 09878379 d:FurnitureFittings 2023-12-31 09878379 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09878379 d:OfficeEquipment 2024-01-01 2024-12-31 09878379 d:OfficeEquipment 2024-12-31 09878379 d:OfficeEquipment 2023-12-31 09878379 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09878379 d:ComputerEquipment 2024-01-01 2024-12-31 09878379 d:ComputerEquipment 2024-12-31 09878379 d:ComputerEquipment 2023-12-31 09878379 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09878379 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09878379 d:CurrentFinancialInstruments 2024-12-31 09878379 d:CurrentFinancialInstruments 2023-12-31 09878379 d:Non-currentFinancialInstruments 2024-12-31 09878379 d:Non-currentFinancialInstruments 2023-12-31 09878379 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09878379 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09878379 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 09878379 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09878379 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 09878379 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 09878379 d:ShareCapital 2024-12-31 09878379 d:ShareCapital 2023-12-31 09878379 d:SharePremium 2024-01-01 2024-12-31 09878379 d:SharePremium 2024-12-31 09878379 d:SharePremium 2023-12-31 09878379 d:OtherMiscellaneousReserve 2024-01-01 2024-12-31 09878379 d:OtherMiscellaneousReserve 2024-12-31 09878379 d:OtherMiscellaneousReserve 2023-12-31 09878379 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 09878379 d:RetainedEarningsAccumulatedLosses 2024-12-31 09878379 d:RetainedEarningsAccumulatedLosses 2023-12-31 09878379 c:OrdinaryShareClass1 2024-01-01 2024-12-31 09878379 c:OrdinaryShareClass1 2024-12-31 09878379 c:OrdinaryShareClass1 2023-12-31 09878379 c:OrdinaryShareClass2 2024-01-01 2024-12-31 09878379 c:OrdinaryShareClass2 2024-12-31 09878379 c:OrdinaryShareClass2 2023-12-31 09878379 c:OrdinaryShareClass3 2024-01-01 2024-12-31 09878379 c:OrdinaryShareClass3 2024-12-31 09878379 c:OrdinaryShareClass3 2023-12-31 09878379 c:OrdinaryShareClass4 2024-01-01 2024-12-31 09878379 c:OrdinaryShareClass4 2024-12-31 09878379 c:OrdinaryShareClass4 2023-12-31 09878379 c:FRS102 2024-01-01 2024-12-31 09878379 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09878379 c:FullAccounts 2024-01-01 2024-12-31 09878379 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09878379 d:WithinOneYear 2024-12-31 09878379 d:WithinOneYear 2023-12-31 09878379 d:BetweenOneFiveYears 2024-12-31 09878379 d:BetweenOneFiveYears 2023-12-31 09878379 2 2024-01-01 2024-12-31 09878379 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09878379









PLACED RECRUITMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PLACED RECRUITMENT LIMITED
 
 
COMPANY INFORMATION


Directors
J M Johansson 
C D A Bruce (resigned 31 July 2024)
R R McKeown 
W L Boorman (resigned 30 April 2025)
R Wilcock (appointed 15 May 2025) 




Registered number
09878379



Registered office
Donald Reid Group Limited
1010 Eskdale Road

Winnersh Triangle

Wokingham

United Kingdom

RG41 5TS




Accountants
Donald Reid Limited

1010 Eskdale Road

Winnersh

Wokingham

England

RG41 5TS





 
PLACED RECRUITMENT LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11


 
PLACED RECRUITMENT LIMITED
REGISTERED NUMBER: 09878379

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,879
18,678

  
2,879
18,678

Current assets
  

Debtors: amounts falling due within one year
 5 
190,976
239,096

Cash at bank and in hand
 6 
963,910
1,533,713

  
1,154,886
1,772,809

Creditors: amounts falling due within one year
 7 
(288,177)
(297,536)

Net current assets
  
 
 
866,709
 
 
1,475,273

Total assets less current liabilities
  
869,588
1,493,951

Creditors: amounts falling due after more than one year
 8 
(7,500)
(17,500)

  

Net assets
  
862,088
1,476,451


Capital and reserves
  

Called up share capital 
 10 
1,055
1,055

Share premium account
 11 
6,552,199
6,552,199

Other reserves
 11 
131,143
105,605

Profit and loss account
 11 
(5,822,309)
(5,182,408)

  
862,088
1,476,451


Page 1

 
PLACED RECRUITMENT LIMITED
REGISTERED NUMBER: 09878379
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2025.




R R McKeown
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Placed Recruitment Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registration number is 09878379. The registered office address of the company is Donald Reid Group Limited 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 18).

Page 6

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
8,988
12,288
24,441
45,717


Additions
-
-
1,973
1,973


Disposals
(8,988)
(9,644)
-
(18,632)



At 31 December 2024

-
2,644
26,414
29,058



Depreciation


At 1 January 2024
1,348
5,859
19,832
27,039


Charge for the year on owned assets
899
3,740
3,898
8,537


Disposals
(2,247)
(7,150)
-
(9,397)



At 31 December 2024

-
2,449
23,730
26,179



Net book value



At 31 December 2024
-
195
2,684
2,879



At 31 December 2023
7,640
6,429
4,609
18,678


5.


Debtors

2024
2023
£
£


Trade debtors
156,071
44,953

Other debtors
13,494
158,986

Prepayments and accrued income
21,411
35,157

190,976
239,096


Page 7

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
963,910
1,533,713

963,910
1,533,713



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
115,895
59,602

Other taxation and social security
7,756
14,488

Other creditors
38,219
22,367

Accruals and deferred income
116,307
191,079

288,177
297,536



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,500
17,500

7,500
17,500


Page 8

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
7,500
17,500


7,500
17,500



17,500
27,500



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



718,428 (2023 - 718,351) Ordinary shares of £0.001 each
718
718
70,080 (2023 - 70,080) Deferred shares of £0.001 each
70
70
211,611 (2023 - 211,611) Ordinary A shares of £0.001 each
212
212
55,200 (2023 - 55,200) Ordinary B shares of £0.001 each
55
55

1,055

1,055




Page 9

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Reserves

Share premium account

The share premium account records the amount above nominal value received for shares sold, less
transaction costs.

Other reserves

Charges relating to share based payments are included in other reserves.

Profit and loss account

The profit and loss account records the cumulative profits or losses of the company since incorporation,
less dividends.


12.


Share-based payments

Placed Recruitment Limited has an equity-settled Enterprise Management Incentive Scheme (“EMI”) which is available to UK employees who work for the Company and satisfy the qualifying conditions and the EMI working time requirements.
The options vest over a period of up to 6 years from grant date. The Black-Scholes valuation method was used to determine the fair-value of the options vested during the year.
A charge of £25,538 (
2023: £19,943) has been recognised within the profit and loss in relation to the
share based payment transactions.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £17,556 (2023: £29,609). Contributions totalling £3,336 (2023: £6,619) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
24,206
51,219

Later than 1 year and not later than 5 years
6,174
-

30,380
51,219

Page 10

 
PLACED RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Transactions with directors

During the year, the directors received advances totalling £11,693 (2023: £134,358) and made repayments totalling £22,989 (2023: £122,829).


16.


Related party transactions

At the end of the year included in other creditors is the amount of £18,797 (2023: £6,562) owed by the company to the directors.
At the end of the year  included in other debtors is £186 
(2023: £11,530) owed to the company by a
director.

 
Page 11