Registered number
SC402285
FINTEC RECRUIT LTD
Unaudited Filleted Accounts
30 June 2025
FINTEC RECRUIT LTD
Registered number: SC402285
Balance Sheet
as at 30 June 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 29,853 38,809
Current assets
Debtors 4 16,624 21,931
Cash at bank and in hand 107,503 116,754
124,127 138,685
Creditors: amounts falling due within one year 5 (33,926) (35,641)
Net current assets 90,201 103,044
Total assets less current liabilities 120,054 141,853
Provisions for liabilities (5,672) (7,374)
Net assets 114,382 134,479
Capital and reserves
Called up share capital 1 1
Profit and loss account 114,381 134,478
Shareholders' funds 114,382 134,479
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
A Parker
Director
Approved by the board on 20 August 2025
FINTEC RECRUIT LTD
Notes to the Accounts
for the year ended 30 June 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).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 £.
Going concern
The financial statements have been prepared on the going concern basis. The director has considered a period of twelve months from the date of signature of the accounts and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It is therefore considered appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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 rendering of services. 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.
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:
Plant and machinery over 5 years
Motor vehicles over 5 years
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.
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.
Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial. Financial assets comprise cash, trade debtors, other debtors and accrued income. Financial liabilities comprise bank overdraft, trade creditors, other creditors and accruals.
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.
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 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2024 3,466 44,779 48,245
Disposals (2,628) - (2,628)
At 30 June 2025 838 44,779 45,617
Depreciation
At 1 July 2024 3,466 5,970 9,436
Charge for the year - 8,956 8,956
On disposals (2,628) - (2,628)
At 30 June 2025 838 14,926 15,764
Net book value
At 30 June 2025 - 29,853 29,853
At 30 June 2024 - 38,809 38,809
4 Debtors 2025 2024
£ £
Trade debtors 12,660 16,445
Other debtors 3,964 5,486
16,624 21,931
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 2,210 2,964
Taxation and social security costs 9,117 14,272
Other creditors 22,599 18,405
33,926 35,641
6 Events after the reporting date
It is the intention of the company to sell the business assets post year end.
7 Guarantees and other financial commitments
QUBA Solutions Limited holds a fixed charge, a floating charge and a negative pledge over the assets of the company in respect of recruitment finance facilities.
8 Related party transactions
An interest free loan of £1,734 (2024: £1,422) which is repayable on demand is owed to a Director at the year end.
9 Other information
FINTEC RECRUIT LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
5 South Charlotte Street
Edinburgh
EH2 4AN
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