| REGISTERED NUMBER: |
| SMART RECRUITMENT SOLUTIONS |
| (SWINDON) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST DECEMBER 2024 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 43-45 Devizes Road |
| SWINDON |
| Wiltshire |
| SN1 4BG |
| BANKERS: |
| 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 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| Fixtures and fittings | - |
| 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 |
| 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 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 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: | £ | £ |
| 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. |