Registration number: SC314369

James Gray Recruitment LTD

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

James Gray Recruitment LTD

Company Information

Directors	Mr RB Samuels Mrs LA Samuels Mr M Fionda

Registered office

Aurora 120 Bothwell Street Glasgow G2 7JS

James Gray Recruitment LTD

(Registration number: SC314369)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	628,295	185,637
Tangible assets	5	83,792	21,594
Investments	6	130	130
		712,217	207,361
Current assets
Debtors	7	472,964	458,013
Cash at bank and in hand		42,524	83,403
		515,488	541,416
Creditors: Amounts falling due within one year	8	(293,376)	(445,670)
Net current assets		222,112	95,746
Total assets less current liabilities		934,329	303,107
Creditors: Amounts falling due after more than one year	8	(160,666)	(89,375)
Provisions for liabilities		(3,945)	(5,399)
Net assets		769,718	208,333
Capital and reserves
Called up share capital	9	1,000	1,000
Retained earnings		768,718	207,333
Shareholders' funds		769,718	208,333

For the financial period 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2025 and signed on its behalf by:
 

James Gray Recruitment LTD

(Registration number: SC314369)
Balance Sheet as at 31 December 2024

......................................... Mr RB Samuels Director

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Aurora
120 Bothwell Street
Glasgow
G2 7JS
Scotland

These financial statements were authorised for issue by the Board on 23 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and Fittings	20% straight line
Computer Equipment	25% straight line
Motor Vehicles	20% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

The intangible assets held within the balance sheet have been determined to have an indefinite usefull life and will not be amortised, These assets are tested annually for impairment. When disposd of the gain or loss on the disposal is included in the profit and loss

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 17 (2023 - 20).

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 August 2023	405,427	405,427
Revaluations	175,368	175,368
Additions acquired separately	47,500	47,500
At 31 December 2024	628,295	628,295
Amortisation
At 1 August 2023	219,790	219,790
Impairment	(219,790)	(219,790)
At 31 December 2024	-	-
Carrying amount
At 31 December 2024	628,295	628,295
At 31 July 2023	185,637	185,637

Intangible Assets within the balance sheet, have increased in value within the period, These assets have been revalued to their realisable value at the current statement date.

James Gray Recruitment LTD

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2023	36,999	14,525	51,524
Additions	4,930	87,900	92,830
At 31 December 2024	41,929	102,425	144,354
Depreciation
At 1 August 2023	29,627	303	29,930
Charge for the period	6,007	24,625	30,632
At 31 December 2024	35,634	24,928	60,562
Carrying amount
At 31 December 2024	6,295	77,497	83,792
At 31 July 2023	7,372	14,222	21,594

6	Investments

	2024 £	2023 £
Investments in associates	130	130