1.
General Information
Build Recruitment Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07280283
. The registered office is 24 Picton House, Hussar Court, Waterlooville, Hampshire, PO7 7SQ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
-
the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
-
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
-
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
2.3.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.4.
Significant judgements and estimations
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.
2.5.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.7.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
2.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Recruitment Services | 20,540,326 | 10,351,528 | |
4.
Other Operating Income
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Rental income |
|
|
|
| Other operating income |
|
|
|
| 127,913 | 35,584 | ||
5.
Operating Profit/(loss)
The operating profit/(loss) is stated after charging:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | (38,856) | (9,733) | |
| Depreciation of tangible fixed assets |
|
|
|
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
6.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
8.
Average Number of Employees
Average number of employees, including directors, during the period was as follows:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
|
|
|
||
9.
Interest Payable and Similar Charges
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Interest payable on other loans |
|
|
|
| Factoring charges | 165,730 | 58,709 | |
| Late payment tax charges |
|
|
|
| Other finance charges | - |
|
|
| 259,759 | 74,546 | ||
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
10.
Tax on Profit
|
The tax credit on the loss for the period was as follows:
|
|||||
| Tax Rate | 31 December 2024 | 30 June 2023 | |||
|---|---|---|---|---|---|
| 31 December 2024 | 30 June 2023 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | - |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
( |
( |
|||
| Total tax charge for the period |
( |
( |
|||
|
The actual credit for the period can be reconciled to the expected credit for the period based on the loss and the standard rate of corporation tax as follows:
|
|||||
| 31 December 2024 | 30 June 2023 | ||||
| £ | £ | ||||
| Profit before tax | (21,769) | (86,453) | |||
| Tax on profit at 25% (UK standard rate) |
( |
( |
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
( |
|||
| Difference in tax rates |
( |
|
|||
| Total tax charge for the period | (4,969) | (168) | |||
11.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 July 2023 |
|
|
|
| Additions |
|
|
|
| As at 31 December 2024 |
|
|
|
| Depreciation | |||
| As at 1 July 2023 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 December 2024 |
|
|
|
| Net Book Value | |||
| As at 31 December 2024 |
|
|
|
| As at 1 July 2023 |
|
|
|
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
12.
Debtors
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by group undertakings | 607,389 | 233,896 | |
| Amounts owed by participating interests | - | 40,448 | |
| Other debtors | 362,076 | 500,344 | |
|
|
|
||
13.
Creditors: Amounts Falling Due Within One Year
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other loans |
|
|
|
| Amounts owed to participating interests |
|
|
|
| Other creditors | 1,256,628 | 907,403 | |
| Corporation tax |
|
|
|
| Taxation and social security | 309,307 | 233,207 | |
| Accruals and deferred income | 210,126 | 230,756 | |
|
|
|
||
14.
Creditors: Amounts Falling Due After More Than One Year
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Other loans |
|
|
|
|
|
|
||
Of the creditors the following amounts are secured.
|
2024
|
2023
|
||
|
£
|
£
|
||
|
Factoring account
|
1,116,754
|
871'346
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small} 1,116,754 |
871,346 |
||
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
Securred by way of all assets Debenture in favour of RBS Invoice Finance Limited, by way of fixed charge all fixed assets, all specific book debts, the factors account and all other debts. By way of floating charge the floating assets. Fixed and floating charge over all property or undertaking of the company in favour of RBS Invoice Finance Limited.
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
15.
Loans
An analysis of the maturity of loans is given below:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| Other loans |
|
|
|
|
|
|
||
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
| Other loans |
|
|
|
|
|
|
||
16.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Accelerated capital allowances |
|
|
|
17.
Provisions for Liabilities
| Deferred Tax | Other Provisions | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 July 2023 |
|
|
32,413 |
| Reversals |
|
( |
(9,720) |
| Deferred taxation |
( |
- |
( |
| Balance at 31 December 2024 |
|
|
16,420 |
Build Recruitment Limited
Notes to the Financial Statements (continued)
For the Period 1 July 2023 to 31 December 2024
19.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 31 December 2024 | 30 June 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
The above leases relate to rent.
20.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the period the charge to the profit and loss account in respect of defined contribution schemes was £80,992 (2023: £59,310).
At the balance sheet date contributions of £7,176 (2023: £8,436) were due to the fund and are included in creditors.
21.
Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
Alliance MSP Limited is a related party, due to Build Recruitment owning 50% of the Shareholding. At the year end date and included in trade debtors, Alliance MSP Limited owed Build Recruitment Limited £253,442.84. The balance was settled post year end. Included in creditors is a balance owing from Build Recruitment Limited to Alliance MSP Limited of £122,198.47. The balance was settled post year end.
22.
Controlling Parties
The company's immediate parent undertaking is
Ewart Cooper Limited
.
The ultimate parent undertaking and that of the smallest and largest group for which group accounts are drawn up of which the company is a member is
Ewart Smart Solutions Limited
(incorporated in England & Wales). Its registered office is
24 Picton House, Hussar Court, Waterlooville, Hmapshire, PO7 7SQ
.
Copies of the group accounts may be obtained from the company's registered office.
The company's ultimate controlling party is
C Ewart
by virtue of their interest in the share capital of the company.