Tribe Recruitment Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06915930 (England and Wales)

Financial Statements

for the Year Ended 28 February 2017

for

Tribe Recruitment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J Spark

N K Crowther

P A Crowther

L Dodsworth

SECRETARY:

L J Spark

REGISTERED OFFICE:

Suite D Second Floor

Lingfield House

Lingfield Point

DARLINGTON

County Durham

DL1 1RW

REGISTERED NUMBER:

06915930 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

County Durham

DL3 7RT

FIXED ASSETS

Intangible assets

4

6,000

7,000

Tangible assets

5

5,440

23,072

11,440

30,072

CURRENT ASSETS

Stocks

6

3,007

-

Debtors

7

358,458

307,103

Cash at bank and in hand

18,276

3,707

379,741

310,810

CREDITORS

Amounts falling due within one year

8

389,333

336,823

NET CURRENT LIABILITIES

(9,592

)

(26,013

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,848

4,059

CREDITORS

Amounts falling due after more than one year

9

-

2,444

NET ASSETS

1,848

1,615

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

1,748

1,515

SHAREHOLDERS' FUNDS

1,848

1,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors on 20 November 2017 and were signed on its behalf by:

P A Crowther - Director

1.	STATUTORY INFORMATION

Tribe 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 the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

There were no material departures from that standard.

These financial statements for the year ended 28 February 2017 are the first financial statements that comply

with FRS 102 Section 1A small entities. The date of transition is 1 March 2015.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year, and also have been consistently applied within the same

accounts.

Turnover

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. It is recognised by reference to the stage of completion.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and selling price less estimated costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account,

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Invoice factoring

The invoice financing creditor represents amounts received in respect of financed debts. There is full recourse to

the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet.

Interest and other charges relating to invoice financing are recognised in the profit and loss account over the

relevant period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 94 (2016 - 51 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2016

and 28 February 2017

10,000

AMORTISATION

At 1 March 2016

3,000

Amortisation for year

1,000

At 28 February 2017

4,000

NET BOOK VALUE

At 28 February 2017

6,000

At 29 February 2016

7,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2016

3,716

28,205

31,921

Disposals

-

(19,705

)

(19,705

)

At 28 February 2017

3,716

8,500

12,216

DEPRECIATION

At 1 March 2016

1,690

7,159

8,849

Charge for year

304

3,907

4,211

Eliminated on disposal

-

(6,284

)

(6,284

)

At 28 February 2017

1,994

4,782

6,776

NET BOOK VALUE

At 28 February 2017

1,722

3,718

5,440

At 29 February 2016

2,026

21,046

23,072

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2016

28,205

Disposals

(19,705

)

Transfer to ownership

(8,500

)

At 28 February 2017

-

DEPRECIATION

At 1 March 2016

7,159

Eliminated on disposal

(7,159

)

At 28 February 2017

-

NET BOOK VALUE

At 28 February 2017

-

At 29 February 2016

21,046

6.

STOCKS

2017

2016

£

£

Work-in-progress

3,007

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

357,258

290,681

Other debtors

1,200

1,200

Amounts due from related

undertakings

-

15,222

358,458

307,103

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

4,875

Trade creditors

19,209

36,267

Amounts owed to group undertakings

-

5,812

Corporation tax

17,868

3,619

Taxation and social security

90,182

41,570

Other creditors

9,656

3,230

Directors' current accounts

800

2,495

Accruals and deferred income

33,184

3,000

Factoring

218,434

235,955

389,333

336,823

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

2,444

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Factoring

218,434

235,955

Hire Purchase

-

7,319

218,434

243,274

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

12.	RELATED PARTY DISCLOSURES

2017

2016

£

£

Amounts owed to directors

800

2,495

No interest was charged.

13.	FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A Small Entities for the year ended 28 February 2017. There were

no adjustments required on transition.