Quedos Recruitment Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04421987 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

QUEDOS RECRUITMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

G D Bell

A G E Bell

SECRETARY:

Mrs. M F Bell

REGISTERED OFFICE:

Avebury House

6 St. Peter Street

Winchester

Hampshire

SO23 8BN

REGISTERED NUMBER:

04421987 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

BANKERS:

Lloyds Bank PLC

30 Commercial Road

Totton

Southampton

Hampshire

SO40 3TH

FIXED ASSETS

Intangible assets

4

-

200

Tangible assets

5

7,922

9,370

7,922

9,570

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

6

37,507

3,339

Cash at bank and in hand

53,358

56,401

95,865

64,740

CREDITORS

Amounts falling due within one year

7

217,686

237,568

NET CURRENT LIABILITIES

(121,821

)

(172,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(113,899

)

(163,258

)

CREDITORS

Amounts falling due after more than one year

8

(40,000

)

(58,486

)

PROVISIONS FOR LIABILITIES

-

(1,794

)

NET LIABILITIES

(153,899

)

(223,538

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(153,901

)

(223,540

)

(153,899

)

(223,538

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2022 and were signed on its behalf by:

G D Bell - Director

1.	STATUTORY INFORMATION

Quedos Recruitment Ltd 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 preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company obtains the right to income when the respective customers make payment following the completion of the service provided and recognises income at that point.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

the term of the lease

Plant and machinery etc

-

25% on reducing balance and the term of the lease

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short Leasehold - 11 years Straight Line

Fixtures & Fittings - 25% reducing balance

Improvements To Property - 10% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are initially measured at the transaction price, unless the arrangement constitutes a financing transaction, when it is measured at the present value of the future repayments and discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation

Taxation for the year comprises current and deferred 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2020

and 30 September 2021

2,000

AMORTISATION

At 1 October 2020

1,800

Charge for year

200

At 30 September 2021

2,000

NET BOOK VALUE

At 30 September 2021

-

At 30 September 2020

200

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2020

4,249

64,101

68,350

Additions

-

1,208

1,208

At 30 September 2021

4,249

65,309

69,558

DEPRECIATION

At 1 October 2020

3,477

55,503

58,980

Charge for year

386

2,270

2,656

At 30 September 2021

3,863

57,773

61,636

NET BOOK VALUE

At 30 September 2021

386

7,536

7,922

At 30 September 2020

772

8,598

9,370

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

37,507

3,339

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,820

5,447

Taxation and social security

6,004

4,387

Other creditors

208,862

227,734

217,686

237,568

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

40,000

58,486

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2021 and 30 September 2020:

2021

2020

£

£

G D Bell

Balance outstanding at start of year

(8,824

)

(8,368

)

Amounts advanced

14,353

9,431

Amounts repaid

(12,700

)

(9,887

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,171

)

(8,824

)

The loan from the director to the company is interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Quedos Limited

A company in which G Bell is a director and major shareholder.

At the balance sheet date £200,355 (2019: £201,732) was owed to Quedos Limited by the company. The loan is interest free and is payable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quedos Recruitment Ltd for the year ended 30 September 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Quedos Recruitment Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quedos Recruitment Ltd and state those matters that we have agreed to state to the Board of Directors of Quedos Recruitment Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quedos Recruitment Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quedos Recruitment Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quedos Recruitment Ltd. You consider that Quedos Recruitment Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quedos Recruitment Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

30 June 2022