Company No: 13396510 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	1,620		2,430
Tangible assets	4	35,592		33,739
		37,212		36,169
Current assets
Debtors	5	428,042		477,048
Cash at bank and in hand		312,734		183,578
		740,776		660,626
Creditors: amounts falling due within one year	6	( 254,111)		( 351,305)
Net current assets		486,665		309,321
Total assets less current liabilities		523,877		345,490
Provision for liabilities		( 8,898)		( 6,411)
Net assets		514,979		339,079
Capital and reserves
Called-up share capital	7	560		560
Profit and loss account		514,419		338,519
Total shareholders' funds		514,979		339,079

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 TR2 Recruitment Limited (registered number: 13396510) were approved and authorised for issue by the Board of Directors on 22 September 2025. They were signed on its behalf by:

S E Edwards Director

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

TR2 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 Lander House May Court, Truro Business Park, Threemilestone, Truro, TR4 9LD, 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 £.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Other intangible assets

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, reducing balance basis over its expected useful life, as follows:

Leasehold improvements	3 - 5 years straight line
Office equipment	33 % 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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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	14		11

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	4,050		4,050
At 31 December 2024	4,050		4,050
Accumulated amortisation
At 01 January 2024	1,620		1,620
Charge for the financial year	810		810
At 31 December 2024	2,430		2,430
Net book value
At 31 December 2024	1,620		1,620
At 31 December 2023	2,430		2,430

4. Tangible assets

	Leasehold improve- ments		Office equipment		Total
	£		£		£
Cost
At 01 January 2024	44,237		29,446		73,683
Additions	4,243		16,333		20,576
Disposals	0		( 9,884)		( 9,884)
At 31 December 2024	48,480		35,895		84,375
Accumulated depreciation
At 01 January 2024	24,919		15,025		39,944
Charge for the financial year	9,342		7,252		16,594
Disposals	0		( 7,755)		( 7,755)
At 31 December 2024	34,261		14,522		48,783
Net book value
At 31 December 2024	14,219		21,373		35,592
At 31 December 2023	19,318		14,421		33,739

5. Debtors

	2024		2023
	£		£
Trade debtors	418,363		468,067
Other debtors	9,679		8,981
	428,042		477,048

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	12,592		5,614
Taxation and social security	234,858		201,408
Other creditors	6,661		144,283
	254,111		351,305

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
560 Ordinary shares of £ 1.00 each	560		560

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	30,213		18,333
between one and five years	81,599		80,132
	111,812		98,465