Ionic Recruitment Limited - Accounts to registrar (filleted) - small 18.2
Ionic Recruitment Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| FOR |
| IONIC RECRUITMENT LIMITED |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| BALANCE SHEET |
| 30 MARCH 2020 |
| 30.3.20 | 30.3.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| BALANCE SHEET - continued |
| 30 MARCH 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Ionic Recruitment Limited is a |
| Registered number: | 06438159 |
| Registered office: | Newton House |
| 406 The Quadrant |
| Birchwood |
| Warrington |
| Cheshire |
| WA3 6FW |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Website | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Covid-19 impact |
| The directors have reviewed the company's forecast and projections and, in particular, have considered the potential implications of the Coronavirus (Covid-19) pandemic. |
| The company has accessed government support during the pandemic. |
| Whilst the eventual financial impact of the pandemic on the company, and on the overall economy, remains uncertain, the directors are confident that it will continue to have minimal impact on the company and that it will remain operational throughout the pandemic. |
| The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings | Website | Totals |
| £ | £ | £ |
| COST |
| At 31 March 2019 |
| and 30 March 2020 |
| DEPRECIATION |
| At 31 March 2019 |
| Charge for year |
| At 30 March 2020 |
| NET BOOK VALUE |
| At 30 March 2020 |
| At 30 March 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to Factors |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Bank loans |
| Amounts owed to factors | 457,751 | 385,662 |
| Secured by a fixed and floating charge over the current and future assets of the company. |
| 9. | PROVISIONS FOR LIABILITIES |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 31 March 2019 |
| Provided during year | ( |
) |
| Balance at 30 March 2020 |
| IONIC RECRUITMENT LIMITED (REGISTERED NUMBER: 06438159) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2020 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.3.20 | 30.3.19 |
| value: | £ | £ |
| Ordinary | 10p | 1,000 | 1,000 |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 March 2020 and 30 March 2019: |
| 30.3.20 | 30.3.19 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest of 2.5% has been charged on the director's loan. |
| 12. | POST BALANCE SHEET EVENTS |
| On 7th August 2020 the current directors acquired 100% of the share capital of the company from the exiting director via the creation of a holding company Ionic Recruitment Group Limited. |