Smiles_Recruitment_Limited_31_Dec_2024_companies_house_set_of

Smiles Recruitment Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Smiles Recruitment Limited

Year ended

31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Smiles Recruitment Limited

for the year ended

31 December 2024

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Smiles Recruitment Limited

, as a body, in accordance with the terms of our engagement letter dated 1 January 2024. Our work has been undertaken solely to prepare for your approval the

financial statements

Smiles Recruitment Limited

and state those matters that we have agreed to state to the Board of Directors of

Smiles Recruitment Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Smiles Recruitment Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Smiles Recruitment Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Smiles Recruitment Limited

. You consider that

Smiles Recruitment Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Smiles Recruitment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

G&T Accountancy Services Limited

Chartered Certified Accountants

Unit 1b Denby Dale Business Park

Wakefield Road

Huddersfield

West Yorkshire

HD8 8QH

United Kingdom

Date:

29 April 2025

Smiles Recruitment Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Intangible assets	5	1		1
Tangible assets	6	638		752
		639		753
Current assets
Debtors	7	267,819		300,875
Cash at bank and in hand		26,306		9,477
		294,125		310,352
Creditors: amounts falling due within one year	8	(243,978	)	(278,091	)
Net current assets		50,147		32,261
Total assets less current liabilities		50,786		33,014
Provisions for liabilities		(238	)	(238	)
Net assets		50,548		32,776
Capital and reserves
Called up share capital		100		100
Profit and loss account		50,448		32,676
Shareholders funds		50,548		32,776

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

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

29 April 2025

, and are signed on behalf of the board by:



Mr D Barwick	Mrs K Roebuck
Director	Director

Company registration number:

07863211

Smiles Recruitment Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

The Quadrant Suite 17

Parkway Close

Sheffield

South Yorkshire

S9 4WG

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.

Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill

10% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures, fittings and equipment

25% Straight Line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2023:

5 Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	65,000
Amortisation
At 1 January 2024 and 31 December 2024	64,999
Carrying amount
At 31 December 2024	1
At 31 December 2023	1

6 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 January 2024	5,532
Additions	332
At 31 December 2024	5,864
Depreciation
At 1 January 2024	4,780
Charge	446
At 31 December 2024	5,226
Carrying amount
At 31 December 2024	638
At 31 December 2023	752

7 Debtors

	2024	2023
	£	£
Trade debtors	219,704	162,140
Other debtors	48,115	138,735
	267,819	300,875

8 Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	8,501	8,532
Taxation and social security	142,356	216,452
Other creditors	93,121	53,107
	243,978	278,091

9 Related party transactions

At the year end amounts due from related parties under common control were £26,904 (2022 £31,904).

10 Controlling party

The company was under the control of Mr D S Barwick throughout the current period and previous year. Mr D S Barwick is the managing director and majority shareholder.