Unknown Recruitment Limited - Filleted accounts

UNKNOWN RECRUITMENT LIMITED - Company Information

Unknown Recruitment Limited
Balance Sheet
as at 31 August 2020


Notes			2020			2019
£				£
Fixed assets
Tangible assets	4		116			594

Current assets
Debtors	5	26,302			16,472
Cash at bank and in hand		9,926			8,488
		36,228			24,960

Creditors: amounts falling due within one year	6	(36,342)			(24,920)

Net current (liabilities)/assets			(114)			40

Net assets			2			634

Capital and reserves
Called up share capital	7		2			2
Profit and loss account	8		-			632

Shareholders' funds			2			634

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




W Leung
Director
Approved by the board on 6 May 2021

Unknown Recruitment Limited
Notes to the Financial Statements
For the year ended 31 August 2020


1	Statutory information

	Unknown Recruitment Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computer Equipment		-	33% on cost

	Financial instruments
	The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

	Classification of financial liabilities
	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 asset of the company after deducting all of its liabilities.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instruments is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are measured at amortised cost using the effective interest method.

	Equity instruments
	Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

	Taxation
	Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current 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.

	Employees
	The average number of employees during the year was 2 (2019: 2)

3	Operating profit				2020		2019
£						£
	The operating profit is stated after charging:

	Depreciation - owned assets				476		496
					476		496


4	Tangible fixed assets
							Computer Equipment
£
	Cost
	At 1 September 2019						1,488
	At 31 August 2020						1,488

	Depreciation
	At 1 September 2019						896
	Charge for the year						476
	At 31 August 2020						1,372

	Net book value
	At 31 August 2020						116
	At 31 August 2019						592


5	Debtors				2020		2019
£						£

	Trade debtors				-		10,558
	Prepayments				1,763		2,614
	Other debtors				24,539		3,300
					26,302		16,472

6	Creditors: amounts falling due within one year				2020		2019
£						£

	Corporation tax				2,416		688
	Other taxes and social security				1,730		4,894
	Director's loan account				32,196		19,338
					36,342		24,920

7	Called Up Share Capital				2020		2019
	Alloted, issued and fully paid:			Nominal	£	£
	Number:	Class:		Value:
	2	Ordinary		1	2		2

					2		2

8	Reserves				2020		2019
£						£		(1)
	At 1 September 2019				631		(1,280)
	Profit for the financial year				9,828		1,912
	Dividends				(10,459)		-
	At 31 August 2020				-		632


9	Directors' advances, credits and guarantees

	Included within creditors is a combined directors loan account amounting to £32196 (2019 - £19338). The loan bears no right to interest and has no set repayment terms.

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