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REGISTERED NUMBER: 06630307 (England and Wales)















SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024






SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr K M Robinson
Mrs J D Robinson



REGISTERED OFFICE: Unit 5 Kingsdown Orchard
Hyde Road
SWINDON
Wiltshire
SN2 7RR



REGISTERED NUMBER: 06630307 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: HSBC Bank Plc
Unit 6
The Lock
Canal Walk
SWINDON
Wiltshire
SN1 1LD

SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,823 3,322

CURRENT ASSETS
Debtors 5 365,832 476,215
Cash at bank and in hand 6,137 12,530
371,969 488,745
CREDITORS
Amounts falling due within one year 6 888,513 885,729
NET CURRENT LIABILITIES (516,544 ) (396,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(513,721

)

(393,662

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (513,722 ) (393,663 )
SHAREHOLDERS' FUNDS (513,721 ) (393,662 )

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2025 and were signed on its behalf by:





Mr K M Robinson - Director


SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Smart Recruitment Solutions (Swindon) Limited 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: 06630307 (England and Wales)

Registered office: Unit 5 Kingsdown Orchard, Hyde Road, Swindon, SN2 7RR.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

The company continues to receive ongoing support from its parent company, Wise Employment (Swindon) Limited, and therefore the directors believe the going concern principle remains the applicable basis for the preparation of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover represents the fair value of consideration received or receivable for the provision of employment services during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

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


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1st January 2024
and 31st December 2024 25,831
DEPRECIATION
At 1st January 2024 22,509
Charge for year 499
At 31st December 2024 23,008
NET BOOK VALUE
At 31st December 2024 2,823
At 31st December 2023 3,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 351,019 459,867
Other debtors 14,813 16,348
365,832 476,215

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,136 29,124
Amounts owed to group undertakings 358,015 159,538
Taxation and social security 161,806 205,282
Other creditors 330,556 491,785
888,513 885,729

SMART RECRUITMENT SOLUTIONS
(SWINDON) LIMITED (REGISTERED NUMBER: 06630307)

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


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice financing 286,261 454,180

Included in other creditors is the balance relating to an invoice discounting arrangement. HSBC Finance (UK) Ltd has a fixed charge on purchased debts and a floating charge over all assets dated 19 August 2008 in relation to this arrangement.

In addition to this specific debt, the company has the following securities;
A Multilateral Guarantee issued 6 August 2008 exists between Wise Employment (Swindon) Limited and Smart Recruitment Solutions (Swindon) Limited.

HSBC Bank Plc has a debenture including a fixed and floating charge over all present freehold and leasehold property; a first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a first floating charge over all assets and undertaking both present and future dated 14 August 2008.

HSBC Bank Plc also has a legal charge over all contract monies dated 21 July 2010.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

9. ULTIMATE PARENT COMPANY

The ultimate parent company is Wise Employment (Swindon) Limited, a private limited company incorporated in England and Wales. The registered office of this company is Unit 5 Kingsdown Orchard, Hyde Road, Swindon, SN2 7RR.