REGISTERED NUMBER: 13111537 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Elvet Recruitment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Phillips

M Dufferwiel

REGISTERED OFFICE:

Humber House

Mandale Business Park

Belmont

Durham

Co. Durham

DH1 1TH

REGISTERED NUMBER:

13111537 (England and Wales)

ACCOUNTANTS:

CM Sewell & Company

53 Welby Drive

Ushaw Moor

Durham

Co. Durham

DH7 7GA

FIXED ASSETS

Tangible assets

4

278,871

310,971

CURRENT ASSETS

Debtors

5

290,185

312,060

Cash at bank

116,674

120,438

406,859

432,498

CREDITORS

Amounts falling due within one year

6

286,076

271,492

NET CURRENT ASSETS

120,783

161,006

TOTAL ASSETS LESS CURRENT LIABILITIES

399,654

471,977

CREDITORS

Amounts falling due after more than one year

7

(206,587

)

(236,024

)

PROVISIONS FOR LIABILITIES

(71,877

)

(77,743

)

NET ASSETS

121,190

158,210

CAPITAL AND RESERVES

Called up share capital

302

300

Retained earnings

120,888

157,910

121,190

158,210

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:

M Dufferwiel - Director

S J Phillips - Director

1.	STATUTORY INFORMATION

Elvet Recruitment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on reducing balance, 25% on cost and 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

335,585

Additions

13,064

At 31 December 2024

348,649

DEPRECIATION

At 1 January 2024

24,614

Charge for year

45,164

At 31 December 2024

69,778

NET BOOK VALUE

At 31 December 2024

278,871

At 31 December 2023

310,971

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

274,842

DEPRECIATION

At 1 January 2024

5,726

Charge for year

34,806

At 31 December 2024

40,532

NET BOOK VALUE

At 31 December 2024

234,310

At 31 December 2023

269,116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

216,533

241,290

Other debtors

73,652

70,770

290,185

312,060

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

3,750

7,500

Hire purchase contracts

25,687

19,155

Trade creditors

744

255

Taxation and social security

95,928

38,516

Other creditors

159,967

206,066

286,076

271,492

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

-

3,750

Hire purchase contracts

206,587

232,274

206,587

236,024