REGISTERED NUMBER: 02712967 (England and Wales)

Financial Statements

for the Period 1 September 2017 to 30 November 2018

for

ADEPT RECRUITMENT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Dawson

SECRETARY:

K Dawson

REGISTERED OFFICE:

35 Belmont Road

London

SE13 5AX

REGISTERED NUMBER:

02712967 (England and Wales)

ACCOUNTANTS:

Liric Chartered Accountants

Wyndmere House

Ashwell Road

Steeple Morden

Hertfordshire

SG8 0NZ

FIXED ASSETS

Tangible assets

4

1,341

916

CURRENT ASSETS

Debtors

167,918

154,696

Cash at bank

-

7,034

167,918

161,730

CREDITORS

Amounts falling due within one year

149,941

102,641

NET CURRENT ASSETS

17,977

59,089

TOTAL ASSETS LESS CURRENT LIABILITIES

19,318

60,005

CREDITORS

Amounts falling due after more than one year

15,698

21,000

NET ASSETS

3,620

39,005

CAPITAL AND RESERVES

Called up share capital

68

68

Retained earnings

3,552

38,937

SHAREHOLDERS' FUNDS

3,620

39,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 March 2019 and were signed by:

K Dawson - Director

1.	STATUTORY INFORMATION

Adept 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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

Income in respect of permanent placements is recognised on the recruit's start date.

Income for temporary placements is recognised at week intervals throughout the

duration of the placement.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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 period was 58 (2017 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2017

2,207

Additions

1,303

At 30 November 2018

3,510

DEPRECIATION

At 1 September 2017

1,291

Charge for period

878

At 30 November 2018

2,169

NET BOOK VALUE

At 30 November 2018

1,341

At 31 August 2017

916

5.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Invoice discounting

58,903

46,423

There is a fixed charge in favour of Griffin Credit Services Limited on purchased debts

which fail to vest. The charge was created on 5 January 1998.

A personal guarantee has been given by Kevin Dawson and Robert Walters limited to

£130,000.

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended

30 November 2018 and the year ended 31 August 2017:

2018

2017

£

£

K Dawson

Balance outstanding at start of period

51,082

8,749

Amounts advanced

70,177

52,305

Amounts repaid

(77,332

)

(9,972

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

43,927

51,082

The loan to K Dawson is repayable on an agreed monthly basis. Interest is being

charged on the loan at a beneficial rate of 4% per annum. Loan interest paid in the year

was £1,511 (2017 - £1,432).