COMPANY REGISTRATION NO. 06672671 (England and Wales)
YOLK RECRUITMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
PAGES FOR FILING WITH REGISTRAR
YOLK RECRUITMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
YOLK RECRUITMENT LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2020
31 October 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
32,604
42,240
Tangible assets
4
127,242
163,990
159,846
206,230
Current assets
Debtors
5
998,189
785,941
Cash at bank and in hand
781,163
690,500
1,779,352
1,476,441
Creditors: amounts falling due within one year
6
(1,137,613)
(1,124,511)
Net current assets
641,739
351,930
Total assets less current liabilities
801,585
558,160
Creditors: amounts falling due after more than one year
7
(260,573)
(37,581)
Provisions for liabilities
(10,378)
(1,770)
Net assets
530,634
518,809
Capital and reserves
Called up share capital
8
1,209
1,209
Capital redemption reserve
3
3
Profit and loss reserves
529,422
517,597
Total equity
530,634
518,809

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

YOLK RECRUITMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2020
31 October 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 July 2021 and are signed on its behalf by:
Mr D Williams
Mr D Powell
Director
Director
Company Registration No. 06672671
YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
- 3 -
1
Accounting policies
Company information

Yolk Recruitment Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Shell, Floor 1, Anchor Court, Keen Road, Cardiff, CF24 5JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group .

 

Yolk Recruitment Limited is a wholly owned subsidiary of Recolution Recruitment Group Limited

1.2
Turnover

Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discounts.

 

Revenue from recruitment contracts is recognised over the period of the contract when, and to the extent that, the company obtains the right to consideration in exchange for services provided.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development
- 5 years
1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Fixtures, fittings & equipment
25% on cost
Computer equipment
20% on cost
YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense .

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
1
Accounting policies
(Continued)
- 5 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease .

1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2020
2019
Number
Number
Total
84
62
3
Intangible fixed assets
Website development
£
Cost
At 1 November 2019 and 31 October 2020
48,738
Amortisation and impairment
At 1 November 2019
6,498
Amortisation charged for the year
9,636
At 31 October 2020
16,134
Carrying amount
At 31 October 2020
32,604
At 31 October 2019
42,240
YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 6 -
4
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 November 2019
110,711
174,314
121,267
406,292
Additions
-
0
-
0
33,067
33,067
Disposals
-
0
(3,945)
(65,254)
(69,199)
At 31 October 2020
110,711
170,369
89,080
370,160
Depreciation and impairment
At 1 November 2019
43,670
108,751
89,881
242,302
Depreciation charged in the year
11,077
33,373
18,884
63,334
Eliminated in respect of disposals
-
0
(3,944)
(58,774)
(62,718)
At 31 October 2020
54,747
138,180
49,991
242,918
Carrying amount
At 31 October 2020
55,964
32,189
39,089
127,242
At 31 October 2019
67,041
65,563
31,386
163,990
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
686,078
664,198
Amounts owed by group undertakings
234,894
58,865
Other debtors
77,217
62,878
998,189
785,941
YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 7 -
6
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
37,837
16,234
Trade creditors
104,789
95,724
Amounts owed to group undertakings
-
0
35,847
Corporation tax
100,055
148,979
Other taxation and social security
521,680
375,966
Other creditors
373,252
451,761
1,137,613
1,124,511

Included in other creditors above are obligations under finance leases totalling £32,422 (2019 - £29,186) secured against the assets to which they relate.

 

Included in bank loans and overdrafts above are amounts totalling £20,981 (2019 - £nil) secured against the assets of the company.

7
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
246,146
21,274
Other creditors
14,427
16,307
260,573
37,581

Included in other creditors above are obligations under finance leases totalling £14,355 (2019 - £16,307) secured against the assets to which they relate.

 

Included in bank loans and overdrafts above are amounts totalling £230,791 (2019 - £nil) secured against the assets of the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
29,373
-
8
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
700
700
7
7
Ordinary E of £1 each
1,200
1,200
1,200
1,200
Ordinary B of 1p each
174
174
2
2
2,074
2,074
1,209
1,209
YOLK RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2020
2019
£
£
275,902
329,302
10
Parent company

Recolution Recruitment Group Limited own 100% of the ordinary shares and 80% of the total voting rights in Yolk Recruitment Limited.

 

The registered office of Recolution Recruitment Group Limited is The Shell, Floor 1, Anchor Court, Keen Road, Cardiff, CF24 5JW.

 

 

2020-10-31 2019-11-01 false 29 July 2021 CCH Software CCH Accounts Production 2021.111 No description of principal activity Mr D Williams Mr D Powell 06672671 2019-11-01 2020-10-31 06672671 2020-10-31 06672671 2018-11-01 2019-10-31 06672671 core:DiscontinuedOperations 2018-11-01 2019-10-31 06672671 2019-10-31 06672671 core:LeaseholdImprovements 2020-10-31 06672671 core:FurnitureFittings 2020-10-31 06672671 core:ComputerEquipment 2020-10-31 06672671 core:LeaseholdImprovements 2019-10-31 06672671 core:FurnitureFittings 2019-10-31 06672671 core:ComputerEquipment 2019-10-31 06672671 core:CurrentFinancialInstruments core:WithinOneYear 2020-10-31 06672671 core:CurrentFinancialInstruments core:WithinOneYear 2019-10-31 06672671 core:CurrentFinancialInstruments 2020-10-31 06672671 core:CurrentFinancialInstruments 2019-10-31 06672671 core:Non-currentFinancialInstruments 2020-10-31 06672671 core:Non-currentFinancialInstruments 2019-10-31 06672671 core:ShareCapital 2020-10-31 06672671 core:ShareCapital 2019-10-31 06672671 core:CapitalRedemptionReserve 2020-10-31 06672671 core:CapitalRedemptionReserve 2019-10-31 06672671 core:RetainedEarningsAccumulatedLosses 2020-10-31 06672671 core:RetainedEarningsAccumulatedLosses 2019-10-31 06672671 core:ShareCapitalOrdinaryShares 2020-10-31 06672671 core:ShareCapitalOrdinaryShares 2019-10-31 06672671 bus:Director1 2019-11-01 2020-10-31 06672671 bus:Director2 2019-11-01 2020-10-31 06672671 core:IntangibleAssetsOtherThanGoodwill 2019-11-01 2020-10-31 06672671 core:LeaseholdImprovements core:LeasedAssetsHeldAsLessee 2019-11-01 2020-10-31 06672671 core:FurnitureFittings 2019-11-01 2020-10-31 06672671 core:ComputerEquipment 2019-11-01 2020-10-31 06672671 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2019-10-31 06672671 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2020-10-31 06672671 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2019-11-01 2020-10-31 06672671 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2019-10-31 06672671 core:LeaseholdImprovements 2019-10-31 06672671 core:FurnitureFittings 2019-10-31 06672671 core:ComputerEquipment 2019-10-31 06672671 2019-10-31 06672671 core:LeaseholdImprovements 2019-11-01 2020-10-31 06672671 core:WithinOneYear 2020-10-31 06672671 core:WithinOneYear 2019-10-31 06672671 bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31 06672671 bus:SmallCompaniesRegimeForAccounts 2019-11-01 2020-10-31 06672671 bus:FRS102 2019-11-01 2020-10-31 06672671 bus:AuditExemptWithAccountantsReport 2019-11-01 2020-10-31 06672671 bus:FullAccounts 2019-11-01 2020-10-31 xbrli:pure xbrli:shares iso4217:GBP