Storm Recruitment (Swindon) Ltd Accounts

STORM RECRUITMENT (SWINDON) LTD - Company Information






Storm Recruitment (Swindon) Ltd

	Company No. 09747818
		Information for Filing with The Registrar
		31 August 2022

The Directors present their report and the accounts for the year ended 31 August 2022.

Principal activities
The principal activity of the company during the year under review was . that of labour recruitment for temporary workers




Directors

The Directors who served at any time during the year were as follows:

N. Matthews
N.J. Willoughby






































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

N.J. Willoughby
Director
26 May 2023

at	31 August 2022
Company No.		09747818	Notes	2022	2021
				£	£
Fixed assets
	Intangible assets		4	-	-
	Tangible assets		5	2,034	1,439


				2,034	1,439
Current assets

	Debtors		6	825,369	632,561

	Cash at bank and in hand			329,468	321,163
				1,154,837	953,724
Creditors: Amount falling due within one year			7	(520,153)	(452,151)
Net current assets				634,684	501,573
Total assets less current liabilities				636,718	503,012
Creditors: Amounts falling due after more than one year			8	(38,333)	(48,333)



Net assets				598,385	454,679

Capital and reserves
	Called up share capital			200	200



	Profit and loss account		10	598,185	454,479

Total equity				598,385	454,679



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 26 May 2023
And signed on its behalf by:
N.J. Willoughby
Director
26 May 2023

for the year ended 31 August 2022

General information

Its registered number is: 09747818

Its registered office is:

27-28 Commercial Road

Swindon

SN1 5NS

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

25% Straight Line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	7	6

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 September 2021	20,209	20,209


		At 31 August 2022	20,209	20,209
		Amortisation and impairment
		At 1 September 2021	20,209	20,209



		At 31 August 2022	20,209	20,209
		Net book values
		At 31 August 2022	-	-
		At 31 August 2021	-	-

5	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 September 2021	8,133	8,133
		Additions	1,644	1,644



		At 31 August 2022	9,777	9,777
		Depreciation
		At 1 September 2021	6,694	6,694
		Charge for the year	1,049	1,049



		At 31 August 2022	7,743	7,743
		Net book values
		At 31 August 2022	2,034	2,034
		At 31 August 2021	1,439	1,439

6	Debtors
			2022	2021
			£	£
		Trade debtors	519,093	483,840





		Other debtors	297,696	138,380
		Prepayments and accrued income	8,580	10,341
			825,369	632,561

7	Creditors:
		amounts falling due within one year
			2022	2021
			£	£




		Trade creditors	11,705	20,030

		Taxes and social security	341,250	284,935
		Loans from directors	19,021	6,649
		Other creditors	116,887	70,416
		Accruals and deferred income	31,290	70,121
			520,153	452,151

8	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£

		Bank loans and overdrafts	38,333	48,333






			38,333	48,333

Share Capital

200 Ordinary Shares @ £1 per share allocated, called up and fully paid

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

11	Dividends
			2022	2021
			£	£
		Dividends for the period:
		Dividends paid in the period	55,873	28,432

			55,873	28,432

		Dividends by type:

		Equity dividends	55,873	28,432
			55,873	28,432