RSD Site Recruit Limited - Period Ending 2019-12-31

RSD Site Recruit Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

RSD Site Recruit Limited

Balance Sheet

31 December 2019

	Note	2019 £	2018 £
Current assets
Debtors	4	253,677	47,163
Cash at bank and in hand		-	171
		253,677	47,334
Creditors: Amounts falling due within one year	5	(68,482)	(16,401)
Net assets		185,195	30,933
Capital and reserves
Called up share capital		4,000	4,000
Profit and loss account		181,195	26,933
Total equity		185,195	30,933

RSD Site Recruit Limited

Balance Sheet

31 December 2019

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 December 2020
 

......................................... Mr R S Dyson Director

Company Registration Number: 10648680

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2019

1	General information

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

The address of its registered office is:
C/O Francis Clark LLP
North Quay House
Plymouth
Devon
PL4 0RA

The principal place of business is:
32 Macadam Road
Cattedown
Plymouth
PL4 0RU

These financial statements were authorised for issue by the director on 21 December 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

Revenue is recognised in the period in which the company becomes entitled to the income. This is at the point that the candidate is placed with a client and contracts agreed.

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 corporation 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.

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2019

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4

Debtors

	Note	2019 £	2018 £
Trade debtors		45,040	-
Amounts due from group undertakings		206,064	45,367
Other debtors		2,573	1,796
		253,677	47,163

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2019

5

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018  £
Due within one year
Loans and borrowings	6	7,885	-
Trade creditors		-	224
Corporation tax		39,567	789
Social security and other taxes		20,030	2,242
Outstanding defined contribution pension costs		-	153
Other creditors		-	192
Accrued expenses		1,000	12,801
		68,482	16,401

6	Loans and borrowings

	2019 £	2018 £
Current loans and borrowings
Bank overdrafts	7,885	-

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	4,000	4,000	4,000	4,000

During the year, the Director and 100% shareholder, Mr R Dyson, completed a share for share exchange transaction, whereby he transferred his shares in exchange for a 100% investment in RSD Topco Ltd. The ultimate parent company is RSD Topco Ltd, copies of the accounts are available at Companies House, Crown Way, Cardiff. The ultimate controlling party is the Director, Mr R Dyson.