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REGISTERED NUMBER: 03614178 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Net Temps Limited

Net Temps Limited (Registered number: 03614178)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Net Temps Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S J Bulloch
Mrs T S Carlisle





REGISTERED OFFICE: Unit 5D
Colwick Quays Business Park
Colwick
Nottingham
NG4 2JY





REGISTERED NUMBER: 03614178 (England and Wales)





ACCOUNTANTS: D. K. Rumsby & Co Limited
3 Colwick Quays
Colwick
Nottingham
Nottinghamshire
NG4 2JY

Net Temps Limited (Registered number: 03614178)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 98,036 96,267
Investments 5 6,540 6,401
104,576 102,668

CURRENT ASSETS
Stocks 2,400 2,400
Debtors 6 2,096,848 1,783,784
Cash at bank 25,287 13,049
2,124,535 1,799,233
CREDITORS
Amounts falling due within one year 7 (1,458,247 ) (1,160,449 )
NET CURRENT ASSETS 666,288 638,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

770,864

741,452

CREDITORS
Amounts falling due after more than one
year

8

(25,833

)

(35,833

)

PROVISIONS FOR LIABILITIES (17,815 ) (12,653 )
NET ASSETS 727,216 692,966

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 726,216 691,966
SHAREHOLDERS' FUNDS 727,216 692,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Net Temps Limited (Registered number: 03614178)

Balance Sheet - continued
31 January 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





S J Bulloch - Director


Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Net Temps 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised from the provision of temporary and permanent worker recruitment services during the year, exclusive of value added tax.

Turnover from the provision temporary workers is recognised at the end of the completed working week based on the hours worked multiplied by the contracted rate, net of rebates. Turnover from permanent placements is recognised when the candidates start work. In each case, revenue is only recognised when the services have been provided and the company is contractually entitled to the revenue.

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
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 188,507
Additions 17,339
At 31 January 2023 205,846
DEPRECIATION
At 1 February 2022 92,240
Charge for year 15,570
At 31 January 2023 107,810
NET BOOK VALUE
At 31 January 2023 98,036
At 31 January 2022 96,267

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2022 6,401
Revaluations 139
At 31 January 2023 6,540
NET BOOK VALUE
At 31 January 2023 6,540
At 31 January 2022 6,401

Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. FIXED ASSET INVESTMENTS - continued

The fair value of listed investments of £6,540 and the fair value gain of £139, included in the profit and loss account for the year, is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 1,603,127 1,482,185
Other debtors 493,721 301,599
2,096,848 1,783,784

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 61,791 53,587
Taxation and social security 496,609 402,153
Other creditors 889,847 694,709
1,458,247 1,160,449

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 25,833 35,833

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
Within one year 34,797 40,463
Between one and five years 23,038 49,560
57,835 90,023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Invoice financing facility 513,756 419,266

The invoice financing facility is secured on the trade debtors of Net Temps Limited and a fixed and floating charge over the company's assets was executed by the directors on 2 July 2007.

Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
510 A ordinary £1 510 510
340 B ordinary £1 340 340
150 C ordinary £1 150 150
1,000 1,000