Registration number: 07582523

AFE Recruitment Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 6

AFE Recruitment Limited

(Registration number: 07582523)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	-	2,015
Current assets
Debtors	5	187,888	2,975,896
Cash at bank and in hand		50,665	56,026
		238,553	3,031,922
Creditors: Amounts falling due within one year	6	(134,648)	(415,099)
Net current assets		103,905	2,616,823
Net assets		103,905	2,618,838
Capital and reserves
Called up share capital	7	100	100
Retained earnings		103,805	2,618,738
Shareholders' funds		103,905	2,618,838

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 29 September 2025 and signed on its behalf by:
 

......................................... Helen Nicolas Director

AFE Recruitment Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
1st Floor
Deneway House
88-94 Darkes Lane
Potters Bar
Herts
EN6 1AQ

The principal place of business is:
1st Floor
Deneway House
88-94 Darkes Lane
Potters Bar
Herts
EN6 1AQ

These financial statements were authorised for issue by the Board on 29 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

The company will be dormant after the year end and the financial statements have been prepared on a other than the going concern basis. The company transferred its trade to a fellow subsidiary during the year and therefore the accounts have been prepared on a basis other than the going concern basis. No provision has been made for future costs terminating the business unless such costs were committed to at the reporting date. In accordance with Accounting Standards, no provision has been made for future losses or anticipated gains on investments.

These financial statements have been prepared using the historical cost convention.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1. The results are for the company alone and not the group it forms part of.

AFE Recruitment Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Other than Going concern Basis

These financial statements have been prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, under the other than going concern basis of accounting.
The directors have concluded that the going concern basis of preparation is no longer appropriate due to the cessation of the Company’s trade during the period. During the year the Company transferred its trade and operational activities to a related group entity, Sure Call Recruitment Services Limited, as part of a group restructuring. Following this transfer, the Company ceased trading and no longer generates revenue.
As a result, the directors do not expect the Company to continue in operational existence for the foreseeable future and anticipate that it will remain dormant.
Accordingly, the financial statements have been prepared on a basis other than going concern basis, under which:
• Assets are stated at the lower of their carrying amount or net realisable value;
• Liabilities include all known and anticipated obligations, including any estimated costs associated with the wind-down of the Company.
This basis of preparation reflects the directors’ intention to realise the Company’s assets and settle its liabilities in the normal course of winding up, rather than through continued trading.

Audit report

The Independent Auditor's Report was unqualified. We draw attention to Note 2 to the financial statements which explains that, as part of a group restructuring, the Directors have taken the decision during the year end to transfer the trade to a fellow group company Sure Call Recruitment Services Limited. They therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.. The name of the Senior Statutory Auditor who signed the audit report on 29 September 2025 was Stephen Hunt, who signed for and on behalf of Duncan & Toplis Audit Limited.

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.

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.

AFE Recruitment Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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
Fixtures and fittings	25% reducing balance

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

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised in the reporting period in which the dividends are paid.

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.

AFE Recruitment Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 ( 2023 - 22).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	3,751	-	3,751
Additions	-	13,250	13,250
Disposals	(1,648)	(13,250)	(14,898)
At 31 December 2024	2,103	-	2,103
Depreciation
At 1 January 2024	1,736	-	1,736
Charge for the year	2,015	-	2,015
Eliminated on disposal	(1,648)	-	(1,648)
At 31 December 2024	2,103	-	2,103
Carrying amount
At 31 December 2024	-	-	-
At 31 December 2023	2,015	-	2,015

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		116,381	1,290,011
Amounts owed by related parties	8	-	1,582,065
Other debtors		71,507	103,820
		187,888	2,975,896