RSD Site Recruit Limited - Period Ending 2020-12-31

RSD Site Recruit Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

RSD Site Recruit Limited

Balance Sheet

31 December 2020

	Note	2020 £	2019 £
Fixed assets
Investments	4	20,000	-
Current assets
Debtors	5	106,756	253,677
Cash at bank and in hand		241,438	-
		348,194	253,677
Creditors: Amounts falling due within one year	6	(181,182)	(68,482)
Net current assets		167,012	185,195
Total assets less current liabilities		187,012	185,195
Creditors: Amounts falling due after more than one year	6	(46,068)	-
Net assets		140,944	185,195
Capital and reserves
Called up share capital		4,000	4,000
Profit and loss account		136,944	181,195
Total equity		140,944	185,195

RSD Site Recruit Limited

Balance Sheet

31 December 2020

For the financial year ending 31 December 2020 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 22 January 2021
 

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

Company Registration Number: 10648680

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2020

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 22 January 2021.

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 2020

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 (2019 - 1).

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2020

4	Investments

	2020 £	2019 £
Investments	20,000	-

Listed investment	£
Cost or valuation
Additions	20,000
Provision
Carrying amount
At 31 December 2020	20,000

The Director of the company believes that the market value of the investment is not materially different from the original carrying value.

5

Debtors

	Note	2020 £	2019 £
Trade debtors		106,756	45,040
Amounts due from group undertakings		-	206,064
Other debtors		-	2,573
		106,756	253,677

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019  £
Due within one year
Loans and borrowings	7	3,932	7,885
Corporation tax		125,907	39,567
Social security and other taxes		51,343	20,030
Accrued expenses		-	1,000
		181,182	68,482

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	7	46,068	-

7	Loans and borrowings

	2020 £	2019 £
Loans and borrowings due after one year
Bank borrowings	46,068	-

	2020 £	2019 £
Current loans and borrowings
Bank borrowings	3,932	-
Bank overdrafts	-	7,885
	3,932	7,885

RSD Site Recruit Limited

Notes to the Financial Statements

Year Ended 31 December 2020

8	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary shares of £1 each	4,000	4,000	4,000	4,000

The ultimate parent company is RSD Topco Limited, copies of the accounts are available at Companies House, Crown Way, Cardiff. The ultimate controlling party is the Director, Mr R Dyson.