Recruitment Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11142195 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

Recruitment Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D O'Brien

G Stanger

SECRETARY:

G Stanger

REGISTERED OFFICE:

35 Frederick Street

Loughborough

Leicestershire

LE11 3BH

REGISTERED NUMBER:

11142195 (England and Wales)

ACCOUNTANTS:

Haines Watts

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

143,636

33,260

Investments

5

2,977,186

1,563,186

3,120,822

1,596,446

CURRENT ASSETS

Debtors

6

860,103

540,663

Cash at bank and in hand

14,332

77,759

874,435

618,422

CREDITORS

Amounts falling due within one year

7

2,843,091

419,209

NET CURRENT (LIABILITIES)/ASSETS

(1,968,656

)

199,213

TOTAL ASSETS LESS CURRENT LIABILITIES

1,152,166

1,795,659

CREDITORS

Amounts falling due after more than one year

8

(990,081

)

(1,561,393

)

PROVISIONS FOR LIABILITIES

10

(15,526

)

-

NET ASSETS

146,559

234,266

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

146,459

234,166

SHAREHOLDERS' FUNDS

146,559

234,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 14 April 2022 and were signed on its behalf by:

G Stanger - Director

1.	STATUTORY INFORMATION

Recruitment Investments 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 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.

The accounting period end has been extended to align the period end with its subsidiaries.

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

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

Plant and machinery etc

-

25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

41,021

Additions

137,614

At 31 May 2021

178,635

DEPRECIATION

At 1 June 2020

7,761

Charge for year

27,238

At 31 May 2021

34,999

NET BOOK VALUE

At 31 May 2021

143,636

At 31 May 2020

33,260

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2020

1,563,186

Additions

1,414,000

At 31 May 2021

2,977,186

NET BOOK VALUE

At 31 May 2021

2,977,186

At 31 May 2020

1,563,186

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

89,265

99,007

Amounts owed by group undertakings

649,449

387,382

Other debtors

121,389

54,274

860,103

540,663

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

146,147

42,395

Amounts owed to group undertakings

2,482,892

287,378

Taxation and social security

63,686

23,734

Other creditors

150,366

65,702

2,843,091

419,209

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Other creditors

990,081

1,561,393

9.	SECURED DEBTS

There is a cross guarantee with subsidiary companies in respect of debt factoring balances which are secured on the assets of the company.

10.	PROVISIONS FOR LIABILITIES

31.5.21

31.5.20

£

£

Deferred tax

15,526

-

Deferred

tax

£

Provided during year

15,526

Balance at 31 May 2021

15,526

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.21

31.5.20

value:

£

£

100

Ordinary

1

100

100