Mk Construction Recruitment Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12741887 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MK CONSTRUCTION RECRUITMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Penny

A M Penny

G F McIntyre

S Cassidy

REGISTERED OFFICE:

41 Park Square North

Leeds

West Yorks

LS1 2NP

REGISTERED NUMBER:

12741887 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Paul's House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

CURRENT ASSETS

Debtors

4

2,589,213

484,464

Cash at bank

2,847

169,635

2,592,060

654,099

CREDITORS

Amounts falling due within one year

5

2,525,482

335,886

NET CURRENT ASSETS

66,578

318,213

TOTAL ASSETS LESS CURRENT LIABILITIES

66,578

318,213

CREDITORS

Amounts falling due after more than one year

6

-

359,909

NET ASSETS/(LIABILITIES)

66,578

(41,696

)

CAPITAL AND RESERVES

Called up share capital

11

11

Retained earnings

66,567

(41,707

)

SHAREHOLDERS' FUNDS

66,578

(41,696

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 29 December 2023 and were signed on its behalf by:

J R Penny - Director

1.	STATUTORY INFORMATION

Mk Construction 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.

The principal activity of the company during the period under review was that of recruitment activities.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover

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

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.

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 (2021 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

2,114,210

428,614

Amounts owed by group undertakings

20,880

-

Other debtors

454,123

55,850

2,589,213

484,464

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

523,981

188,792

Amounts owed to group undertakings

109,110

133,993

Taxation and social security

26,131

3,367

Other creditors

1,866,260

9,734

2,525,482

335,886

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Other creditors

-

359,909

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Aldermore facility

1,822,291

359,909

Included within other creditors is an amount of £1,822,291 (2021: £359,909) in respect of sales invoice finance, this amount is advanced against invoice discounted debts within trade debtors and is secured by way of a fixed and floating charge over all the property of the company.

8.	RELATED PARTY DISCLOSURES

At the year end the company was owed £20,880 from MK Business Support Limited, the parent undertaking.

At the year end the company owed £109,110 to MK Environmental Recruitment Ltd, a fellow subsidiary of MK Business Support Limited.

At the year end the company was owed the following balances from directors:

G F McIntyre - £43,290

S Cassidy - £19,718

Interest is chargeable on director loans at 2% per annum