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Registered number: 10819961
Absolute I T Recruitment Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Michael Price Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10819961
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 705
- 705
CURRENT ASSETS
Debtors 5 177,140 143,996
Cash at bank and in hand 14,506 21,328
191,646 165,324
Creditors: Amounts Falling Due Within One Year 6 (114,698 ) (127,775 )
NET CURRENT ASSETS (LIABILITIES) 76,948 37,549
TOTAL ASSETS LESS CURRENT LIABILITIES 76,948 38,254
PROVISIONS FOR LIABILITIES
Deferred Taxation - (134 )
NET ASSETS 76,948 38,120
CAPITAL AND RESERVES
Called up share capital 7 90 100
Profit and Loss Account 76,858 38,020
SHAREHOLDERS' FUNDS 76,948 38,120
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P L Mills
Director
07/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Absolute I T Recruitment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10819961 . The registered office is The Gate House, Suite 3, Floor 3, Fretherne Road, Welwyn Garden City, AL8 6NS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors will continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Straight Line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 3)
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 7,014
Disposals (413 )
As at 31 December 2024 6,601
Depreciation
As at 1 January 2024 6,309
Provided during the period 528
Disposals (236 )
As at 31 December 2024 6,601
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 705
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,380 56,388
Amounts owed by group undertakings 169,760 87,608
177,140 143,996
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,204 3,298
Corporation tax 9,261 11,903
Other taxes and social security - 2,166
VAT 29,834 6,202
Pension Payable - 452
Accruals and deferred income - 12,355
Amounts owed to group undertakings 74,399 91,399
114,698 127,775
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
90 Ordinary Shares of £ 1.00 each 90 90
0 Ordinary B shares of £ 0.00 each - 10
90 100
Shares disposed during the period: £
10 Ordinary B shares of £ 1.00 each (10)
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8. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 39,019
9. Related Party Transactions
Summary of transactions with parent
At the balance sheet date the company owed £74,399 (2023: £91,399) to PLM Holdings Limited, the parent company.
This loan is provided interest free and is repayable on demand.
Summary of transactions with other related parties
Absolute Accountancy Recruitment Limited
At the balance sheet date, the company was owed £169,760 (2023: they was owed £87,608) from Absolute Accountancy Recruitment Limited, a company owned by PLM Holdings Limited.
The loan is provided interest free with no formal terms of repayment.
10. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is PLM Holdings Limited . PLM Holdings Limited was incorporated in (England and Wales).
The controlling party is P Mills who controls (100%) of the shares of Absolute I T Recruitment Limited .
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