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Company No: 07299816 (England and Wales)

# CLEARFIELD RECRUITMENT LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CLEARFIELD RECRUITMENT LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CLEARFIELD RECRUITMENT LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
CLEARFIELD RECRUITMENT LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | Daniel Frazer Jarrold
| Joshua Peacock

REGISTERED OFFICE | Unit 10a Hill View Business Park Old Ipswich Road
| Claydon
| Ipswich
| IP6 0AJ
| United Kingdom

COMPANY NUMBER | 07299816 (England and Wales)

CHARTERED ACCOUNTANTS | Gascoynes
| Gascoyne House
| Moseleys Farm Business Centre
| Fornham All Saints
| Bury St Edmunds
| Suffolk
| IP28 6JY

CLEARFIELD RECRUITMENT LIMITED

## BALANCE SHEET

As at 31 December 2024
CLEARFIELD RECRUITMENT LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 1,624 |  | 10,774
Tangible assets | 4 | 54,492 |  | 56,112
|  | 56,116 |  | 66,886
Current assets |  |  |  |
Debtors | 5 | 2,185,769 |  | 2,759,027
Investments |  | 100 |  | 100
Cash at bank and in hand |  | 39,314 |  | 40,556
|  | 2,225,183 |  | 2,799,683
Creditors: amounts falling due within one year | 6 | ( 1,753,496) |  | ( 2,357,019)
Net current assets |  | 471,687 |  | 442,664
Total assets less current liabilities |  | 527,803 |  | 509,550
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 50,000)
Provision for liabilities |  | ( 10,353) |  | ( 10,661)
Net assets |  | 517,450 |  | 448,889
Capital and reserves |  |  |  |
Called-up share capital | 8 | 204 |  | 204
Capital redemption reserve |  | 35 |  | 35
Profit and loss account |  | 517,211 |  | 448,650
Total shareholders' funds |  | 517,450 |  | 448,889

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Clearfield Recruitment Limited (registered number: 07299816) were approved and authorised for issue by the Board of Directors on 01 September 2025. They were signed on its behalf by:

Daniel Frazer Jarrold Director |

CLEARFIELD RECRUITMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CLEARFIELD RECRUITMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Clearfield Recruitment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 10a Hill View Business Park Old Ipswich Road, Claydon, Ipswich, IP6 0AJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs | 5 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 13 |  | 16

#### 3. Intangible assets

| Development costs |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 47,160 |  | 47,160
At 31 December 2024 | 47,160 |  | 47,160
Accumulated amortisation |  |  |
At 01 January 2024 | 36,386 |  | 36,386
Charge for the financial year | 9,150 |  | 9,150
At 31 December 2024 | 45,536 |  | 45,536
Net book value |  |  |
At 31 December 2024 | 1,624 |  | 1,624
At 31 December 2023 | 10,774 |  | 10,774

#### 4. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 235,056 |  | 235,056
Additions | 15,094 |  | 15,094
At 31 December 2024 | 250,150 |  | 250,150
Accumulated depreciation |  |  |
At 01 January 2024 | 178,944 |  | 178,944
Charge for the financial year | 16,714 |  | 16,714
At 31 December 2024 | 195,658 |  | 195,658
Net book value |  |  |
At 31 December 2024 | 54,492 |  | 54,492
At 31 December 2023 | 56,112 |  | 56,112

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 1,737,872 |  | 2,252,257
Amounts owed by Group undertakings | 402,695 |  | 433,524
Other debtors | 45,202 |  | 73,246
| 2,185,769 |  | 2,759,027

#### 6. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 26,050 |  | 90,201
Trade creditors | 144,311 |  | 152,654
Amounts owed to Group undertakings | 508,600 |  | 0
Taxation and social security | 59,426 |  | 300,829
Other creditors | 1,015,109 |  | 1,813,335
| 1,753,496 |  | 2,357,019

There is a fixed and floating charge held over the company assets by Amicus Commercial Finance No 1 Limited.
There is a fixed and floating charge held over the company assets by Barclays Security Trustee Limited.

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 0 |  | 50,000

#### 8. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2,000,000 Ordinary A shares of £ 0.0001 each | 200 |  | 200
42,500 VN ordinary shares of £ 0.0001 each | 4 |  | 4
| 204 |  | 204