ACCOUNTS - Final Accounts preparation

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Company registration number: 05738121

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	CMA FINANCIAL RECRUITMENT LIMITED


CMA FINANCIAL RECRUITMENT LIMITED

COMPANY INFORMATION

Directors	N F C Clarke
	P J Clarke
	R R Dibden
	N R Phillips
	A Purewal
	M T Smith


Company secretary	N F C Clarke


Registered number	05738121


Registered office	Meridians House
	7 Ocean Way
	Southampton
	Hampshire
	SO14 3TJ


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


CMA FINANCIAL RECRUITMENT LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 9


CMA FINANCIAL RECRUITMENT LIMITED REGISTERED NUMBER:05738121

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	5		166,667		291,667
Tangible assets	6		112,317		155,334
			278,984		447,001
Current assets
Debtors: amounts falling due within one year	7	4,833,536		4,497,826
Cash at bank and in hand		8		1,310
		4,833,544		4,499,136
Creditors: amounts falling due within one year	8	(1,223,494)		(1,079,822)
Net current assets			3,610,050		3,419,314
Total assets less current liabilities			3,889,034		3,866,315
Creditors: amounts falling due after more than one year	9		(42,075)		(63,598)
Provisions for liabilities
Deferred tax		(23,595)		(929)
			(23,595)		(929)
Net assets			3,823,364		3,801,788

Page 1


CMA FINANCIAL RECRUITMENT LIMITED REGISTERED NUMBER:05738121

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Capital and reserves
Called up share capital	9,782	9,782
Share premium account	3,285	3,285
Capital redemption reserve	1,200	1,200
Profit and loss account	3,809,097	3,787,521
	3,823,364	3,801,788

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N F C Clarke

Director

Date: 17 September 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

CMA Financial Recruitment Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page. The registered address is also the principal place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis of accounting in preparing these annual financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from temporary hires are recognised in the period the services are provided to the client. In the case of permanent hires, revenue is recognised when the placement is unconditionally accepted by both parties. A provision is made for any cancelled placements made within 3 months.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

				Long-term leasehold property	-	over length of the lease
				Office equipment	-	33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements:
Impairment of assets
Determine whether there are indicators of impairment of the group's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

Page 5


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 110 (2023 - 99).

5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2024	2,500,000
	At 31 December 2024	2,500,000
	Amortisation
	At 1 January 2024	2,208,333
	Charge for the year on owned assets	125,000
	At 31 December 2024	2,333,333
	Net book value
	At 31 December 2024	166,667
	At 31 December 2023	291,667

Page 6


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets

	Long-term leasehold property	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	90,393	209,872	300,265
Additions	-	976	976
At 31 December 2024	90,393	210,848	301,241
Depreciation
At 1 January 2024	45,877	99,054	144,931
Charge for the year on owned assets	12,367	31,626	43,993
At 31 December 2024	58,244	130,680	188,924
Net book value
At 31 December 2024	32,149	80,168	112,317
At 31 December 2023	44,516	110,818	155,334

Debtors

					2024	2023
					£	£


Trade debtors	441,070	467,908
Amounts owed by group undertakings	4,190,478	3,844,238
Other debtors	111,131	84,254
Prepayments and accrued income	90,857	101,426
	4,833,536	4,497,826

Page 7


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Working capital facility	237,236	164,196
Trade creditors	103,066	68,912
Corporation tax	49,084	96,530
Other taxation and social security	410,400	413,967
Obligations under finance lease and hire purchase contracts	21,831	20,353
Other creditors	108,843	49,174
Accruals and deferred income	293,034	266,690
	1,223,494	1,079,822

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Net obligations under finance leases and hire purchase contracts	42,075	63,598
	42,075	63,598

Within one year	21,831	20,353
Between 1-5 years	42,075	63,598
	63,906	83,951

11.	Related party transactions
	The Company has taken advantage of the available exemption conferred by Section 1AC.35 of FRS102 not to disclose transactions with wholly owned members of the Group.

12.	Controlling party

The Company is a subsidiary of CMA Recruitment Group Limited which is the Parent Company of the smallest group for which consolidated financial statements are drawn up and of which the Company is a member. The registered office address of CMA Recruitment Group Limited is Meridians House, 7 Ocean Way, Southampton, SO14 3TJ.

Page 8


CMA FINANCIAL RECRUITMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 17 September 2025 by James Hadfield FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 9