Company No: 03750125 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	24,824		17,101
Investments	4	0		400,000
		24,824		417,101
Current assets
Debtors	5	823,664		992,791
Cash at bank and in hand		195,363		253,954
		1,019,027		1,246,745
Creditors: amounts falling due within one year	6	( 1,002,737)		( 1,190,479)
Net current assets		16,290		56,266
Total assets less current liabilities		41,114		473,367
Creditors: amounts falling due after more than one year	7	0		( 63,178)
Provision for liabilities		( 4,144)		0
Net assets		36,970		410,189
Capital and reserves
Called-up share capital	8	93		100
Capital redemption reserve		7		0
Profit and loss account		36,870		410,089
Total shareholders' funds		36,970		410,189

For the financial year ending 31 March 2025 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 Income Statement has not been delivered.

The financial statements of Building Recruitment Company Limited (registered number: 03750125) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

Mr P N Howe 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

Building Recruitment Company 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 2nd Floor 62 Prince Street, Bristol, BS1 4QD, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties 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	10 years straight line
Fixtures and fittings	25 % reducing balance
Office equipment	3 years straight line

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		15

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	30,390		11,281		85,293		126,964
Additions	0		0		17,898		17,898
At 31 March 2025	30,390		11,281		103,191		144,862
Accumulated depreciation
At 01 April 2024	28,752		7,484		73,627		109,863
Charge for the financial year	1,638		950		7,587		10,175
At 31 March 2025	30,390		8,434		81,214		120,038
Net book value
At 31 March 2025	0		2,847		21,977		24,824
At 31 March 2024	1,638		3,797		11,666		17,101

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	400,000
Disposals	( 400,000)
At 31 March 2025	0
Carrying value at 31 March 2025	0
Carrying value at 31 March 2024	400,000

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2025	Ownership 31.03.2024
Class Recruitment Limited	2 St Pauls Road, Clifton, Bristol. BS8 1LT	Recruitment	Ordinary	0.00%	100.00%

5. Debtors

	2025		2024
	£		£
Trade debtors	383,158		534,390
Amounts owed by associates	15,566		0
Amounts owed by directors	134,728		158,744
Prepayments	56,941		77,109
Other debtors	233,271		222,548
	823,664		992,791

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	63,118		64,269
Trade creditors	113,733		85,730
Amounts owed to Group undertakings	0		7,069
Other loans (secured)	356,449		486,571
Accruals	42,552		56,466
Taxation and social security	303,067		347,865
Other creditors	123,818		142,509
	1,002,737		1,190,479

Included in other loans is £356,449 (2024: £486,571) subject to an invoice discounting agreement. Under the agreement with Investec PLC the amount is secured over all current and future debts of the company. Investec Plc may at any time set-off monies due from the company against monies due to the company. The company may not exercise any right of set-off. The liability in other loans relating to invoice discounting is secured by a fixed and floating charge over the assets of the company.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		63,178

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
4,100 A Ordinary shares of £ 0.01 each	41		41
3,900 B Ordinary shares of £ 0.01 each	39		39
1,334 C Ordinary shares of £ 0.01 each (2024: 2,000 shares of £ 0.01 each)	13		20
	93		100

During the year, 666 C Ordinary shares were purchased for £47,771.

9. Financial commitments

Commitments

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

	2025		2024
	£		£
within one year	74,797		84,083
between one and five years	80,121		102,100
after five years	0		8,803
Total future minimum lease payments under non-cancellable operating leases	154,918		194,986

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	5,365		5,812

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Balance b/fwd (owed to the company by the directors)	158,744		203,107
Dividends paid	(160,000)		(203,500)
Drawings	135,984		159,137
Balance c/fwd (owed to the company by the directors)	134,728		158,744

Interest is chargeable on overdrawn directors loans accounts at the HMRC official rate. The loans are repayable on demand.

During the year, the directors received dividends of £160,000 (2023: £203,000)

Other related party transactions

	2025		2024
	£		£
Amounts due from a company under common control	0		3,700
Amounts due from a company under common control	123,239		123,239
Amounts due from a company under common control	15,040		0