Blu-Spec Recruitment Limited - Accounts to registrar (filleted) - small 18.2
Blu-Spec Recruitment Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Blu-Spec Recruitment Limited |
| Unaudited Financial Statements for the Year Ended 31 March 2018 |
| Blu-Spec Recruitment Limited (Registered number: 08920781) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Blu-Spec Recruitment Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Blu-Spec Recruitment Limited (Registered number: 08920781) |
| Balance Sheet |
| 31 March 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Blu-Spec Recruitment Limited (Registered number: 08920781) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Blu-Spec Recruitment Limited is a private company, limited by shares and 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 |
| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting |
| policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK |
| and Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements |
| is sterling. All amounts in the financial statements have been rounded to the nearest £1. |
| Going concern |
| The directors believe that notwithstanding current year losses of £5,733, net current liabilities of £20,052, and net liabilities of £16,950, the |
| company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or |
| support from the directors will be adequate to meet the company's needs for a period of at least 12 months from the date of approval of |
| these financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard |
| applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably |
| measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax |
| and other sales taxes. |
| Revenue from a contract to provide services is recognised in the period in which the services are provided. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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 to profit or loss over the estimated useful economic lives, as follows - |
| - Plant and machinery - Over 4 years on a straight line basis |
| - Computer equipment - Over 4 years on a straight line basis |
| 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. |
| Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
| At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable |
| amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is |
| recognised immediately as an expense within the profit or loss. |
| Basic financial instruments |
| Trade and other debtors / creditors |
| Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are |
| recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised |
| cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing |
| transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Impairment of financial assets |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of |
| impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss. |
| For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying |
| amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying |
| amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
| Blu-Spec Recruitment Limited (Registered number: 08920781) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Current and deferred taxation |
| Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it |
| relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other |
| comprehensive income. |
| Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively |
| enacted at the balance sheet date. |
| Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences |
| arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances |
| are greater or smaller than the corresponding income or expense. |
| Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or |
| substantively enacted at the balance sheet date. |
| 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. |
| Pensions |
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the |
| company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment |
| obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by |
| employees. |
| 3. | STAFF NUMBERS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Blu-Spec Recruitment Limited (Registered number: 08920781) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Included in other creditors are outstanding pension contributions of £413 (2017: £nil). |
| 7. | RELATED PARTY TRANSACTIONS |
| During the year the company made loans to the directors of £1,333 (2017: £7,550) and received repayments of £131 (2017: £75). As at 31 |
| March 2018 Blu-Spec Recruitment Limited was owed £4,035 (2017: £2,833) by the directors. All balances attract a nil rate of interest and |
| are repayable on demand. |
| During the year the company received loans totalling £10,547 (2017: £nil) from another company in which R Mendhir is a director. As at |
| 31 March 2018 Blu-Spec Recruitment Limited owed £10,547 (2017: £nil) to the company. All balances attract a nil rate of interest, and are |
| repayable on demand. |
| No consolidated financial statements are drawn up for any group of which the company is a member. |