Sourceco Recruitment Limited - Accounts to registrar (filleted) - small 23.1.2

Sourceco Recruitment Limited - Accounts to registrar (filleted) - small 23.1.2

SOURCECO RECRUITMENT LIMITED - Company Information

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REGISTERED NUMBER: 11586382 (England and Wales)







Financial Statements for the Year Ended 30th September 2022

for

Sourceco Recruitment Limited
Sourceco Recruitment Limited (Registered number: 11586382)






Contents of the Financial Statements
for the Year Ended 30th September 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Sourceco Recruitment Limited

Company Information
for the Year Ended 30th September 2022







DIRECTORS: T Green
Mrs R Green





REGISTERED OFFICE: Unit 14b Saxon Business Park
Hanbury Road
Stoke Prior
Bromsgrove
B60 4AD





REGISTERED NUMBER: 11586382 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU
Page 1
Sourceco Recruitment Limited (Registered number: 11586382)

Abridged Balance Sheet
30th September 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,067 16,179

CURRENT ASSETS
Debtors 847,206 743,224
Cash at bank 275,496 195,653
1,122,702 938,877
CREDITORS
Amounts falling due within one year 935,312 786,952
NET CURRENT ASSETS 187,390 151,925
TOTAL ASSETS LESS CURRENT
LIABILITIES
207,457
168,104

CREDITORS
Amounts falling due after more than one
year
(79,167
)
(125,000
)

PROVISIONS FOR LIABILITIES (2,991 ) (5,524 )
NET ASSETS 125,299 37,580

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,199 37,480
125,299 37,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2022 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 notes form part of these financial statements

Page 2 continued...
Sourceco Recruitment Limited (Registered number: 11586382)

Abridged Balance Sheet - continued
30th September 2022


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 17th April 2023 and were signed on its behalf by:





T Green - Director


The notes form part of these financial statements

Page 3
Sourceco Recruitment Limited (Registered number: 11586382)

Notes to the Financial Statements
for the Year Ended 30th September 2022

1. STATUTORY INFORMATION

Sourceco 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 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on 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 18 (2021 - 11 ) .

Page 4 continued...
Sourceco Recruitment Limited (Registered number: 11586382)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2021 22,100
Additions 11,021
At 30th September 2022 33,121
DEPRECIATION
At 1st October 2021 5,921
Charge for year 7,133
At 30th September 2022 13,054
NET BOOK VALUE
At 30th September 2022 20,067
At 30th September 2021 16,179

Page 5