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REGISTERED NUMBER: 03614178 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Net Temps Limited

Net Temps Limited (Registered number: 03614178)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Net Temps Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S J Bulloch
Mrs T S Carlisle
S Bannister





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 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 156,403 98,036
Investments 5 5,574 6,540
161,977 104,576

CURRENT ASSETS
Stocks 2,400 2,400
Debtors 6 2,623,678 2,096,848
Cash at bank 4,127 25,287
2,630,205 2,124,535
CREDITORS
Amounts falling due within one year 7 (1,965,220 ) (1,458,247 )
NET CURRENT ASSETS 664,985 666,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,962

770,864

CREDITORS
Amounts falling due after more than one
year

8

(59,091

)

(25,833

)

PROVISIONS FOR LIABILITIES (33,037 ) (17,815 )
NET ASSETS 734,834 727,216

Net Temps Limited (Registered number: 03614178)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 733,834 726,216
SHAREHOLDERS' FUNDS 734,834 727,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 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 15 August 2024 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 2024

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.


Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

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 27 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 205,846
Additions 77,450
At 31 January 2024 283,296
DEPRECIATION
At 1 February 2023 107,810
Charge for year 19,083
At 31 January 2024 126,893
NET BOOK VALUE
At 31 January 2024 156,403
At 31 January 2023 98,036

Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 February 2023 6,540
Revaluations (966 )
At 31 January 2024 5,574
NET BOOK VALUE
At 31 January 2024 5,574
At 31 January 2023 6,540

The fair value of listed investments of £5,574 and the fair value loss of £966, 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
31.1.24 31.1.23
£    £   
Trade debtors 2,230,260 1,603,127
Other debtors 393,418 493,721
2,623,678 2,096,848

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 11,232 -
Trade creditors 135,854 61,791
Taxation and social security 556,523 496,609
Other creditors 1,251,611 889,847
1,965,220 1,458,247

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,834 25,833
Hire purchase contracts (see note 9) 43,257 -
59,091 25,833

Net Temps Limited (Registered number: 03614178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 11,232 -
Between one and five years 43,257 -
54,489 -

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 30,775 34,797
Between one and five years 99,672 23,038
In more than five years 152,000 -
282,447 57,835

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Invoice financing facility 934,540 513,756
Hire purchase contracts 54,489 -
989,029 513,756

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.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
510 A ordinary £1 510 510
340 B ordinary £1 340 340
150 C ordinary £1 150 150
1,000 1,000