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REGISTERED NUMBER: SC315316 (Scotland)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

3D PERSONNEL LIMITED

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 8

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12 to 21


3D PERSONNEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Doherty
M Byrne
C Greene



SECRETARY: Mrs E Doherty



REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR



REGISTERED NUMBER: SC315316 (Scotland)



AUDITORS: Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: NatWest Bank PLC
1 Lower Northam Road
Hedge End
Southampton
Hampshire
SO30 4FN

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The results for the year and the financial position at the year end date were considered satisfactory by the directors. There have been no changes to the company's activities during the year.

3D Personnel Limited operates in a cyclical industry and is affected by factors beyond the control of the company, for example, the level of construction activity. 3D Personnel Limited also faces strong competition in the market, albeit the directors are continuously engaged in increasing its market share.

PRINCIPAL RISKS, UNCERTAINTIES AND FUTURE DEVELOPMENTS
3D Personnel is an owner led company, whose values make them stand out from other companies in the sector. These values include honesty, integrity, pride, trust, respect for candidates and clients, commitment to keep improving service and showing clients that by working with us we can fulfil our ambitions together. The company aim to build on the relationships they have developed over the last ten years of trading as 3D Personnel Limited.

3D Personnel Limited faces strong competition in the market especially from other recruitment providers. The company continues to focus on its core values to ensure continued growth.

Financial risk management
The company ensures that the financial exposure of the company is subject to regular review by the directors.

Operating risk
The market for recruitment services remains competitive in the current economic climate. The directors are confident that the company has taken the necessary decisions to ensure this competitiveness going forward. The company manages its customer base by complying with its core values, as noted above. In addition the company ensures that it works closely with the candidates it represents in order to build strong and lasting relationships.

Foreign exchange risk
Exposure to foreign exchange risk is not significant as transactions are nearly exclusively denominated in GBP.

Credit risk
Credit risk is managed through the company's policies which require appropriate credit checks on potential customers before sales are made.

Liquidity risk
The finance team closely control cash management and ensure sufficient funds for operations.

KEY PERFORMANCE INDICATORS
Given the straightforward nature of the business, the company's directors are of the opinion that analysis using key performance indicators (KPI's) is not necessary for an understanding of the development, performance or position of the business.

ON BEHALF OF THE BOARD:





M Byrne - Director


29 August 2024

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITIES
The principal activity of the company in the year under review was that of supplying specialist recruitment HR solutions to all working sectors.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D Doherty
M Byrne
C Greene

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The auditors, Baker Tilly Mooney Moore, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Byrne - Director


29 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
3D PERSONNEL LIMITED


Opinion
We have audited the financial statements of 3D Personnel Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
3D PERSONNEL LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
3D PERSONNEL LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

Our procedures to respond to risks identified included the following:

-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
-enquiring of management, actual and potential litigation and claims;
-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
-obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
3D PERSONNEL LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Eimear Brown (Senior Statutory Auditor)
for and on behalf of Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

3 September 2024

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 3 28,518,181 24,224,041

Cost of sales 24,158,076 20,287,895
GROSS PROFIT 4,360,105 3,936,146

Administrative expenses 3,677,441 3,453,409
682,664 482,737

Other operating income 4 8,356 -
OPERATING PROFIT 6 691,020 482,737


Interest payable and similar expenses 7 63,936 69,695
PROFIT BEFORE TAXATION 627,084 413,042

Tax on profit 8 173,171 129,000
PROFIT FOR THE FINANCIAL YEAR 453,913 284,042

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

453,913

284,042

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 22,175 24,781

CURRENT ASSETS
Debtors 11 4,761,509 5,355,437
Cash at bank 80,976 165,033
4,842,485 5,520,470
CREDITORS
Amounts falling due within one year 12 2,448,274 3,582,778
NET CURRENT ASSETS 2,394,211 1,937,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,416,386

1,962,473

PROVISIONS FOR LIABILITIES 16 2,478 2,478
NET ASSETS 2,413,908 1,959,995

CAPITAL AND RESERVES
Called up share capital 17 200 200
Retained earnings 18 2,413,708 1,959,795
SHAREHOLDERS' FUNDS 2,413,908 1,959,995

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




D Doherty - Director



M Byrne - Director


3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 200 2,675,753 2,675,953

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 284,042 284,042
Balance at 31 December 2022 200 1,959,795 1,959,995

Changes in equity
Total comprehensive income - 453,913 453,913
Balance at 31 December 2023 200 2,413,708 2,413,908

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

3D Personnel Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirement of paragraph 33.7.

The entity is included in the consolidated financial statements of the parent company 3D Personnel Group Limited.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Determination as to whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Consideration of the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover on contracts is recognised according to the stage reached in the contract by reference to the value of the work done. An appropriate estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. The amount by which recorded turnover exceeds payments on account is classified as amounts recoverable on contracts and is disclosed within debtors.

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimate useful life:

Fixtures, fittings & equipment20% on cost
Motor vehicles33% on reducing balance
Computer equipment20% on cost

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals payable under operating leases are charged to the profit and loss account 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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at the annual general meeting.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

31.12.23 31.12.22
£    £   
HR Solutions 25,164,152 21,706,608
Contract income 3,354,029 2,517,433
28,518,181 24,224,041

4. OTHER OPERATING INCOME
31.12.23 31.12.22
£    £   
Sundry receipts 5,356 -
Government grants 3,000 -
8,356 -

5. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,372,050 2,055,006
Social security costs 228,765 199,166
Other pension costs 39,189 31,181
2,640,004 2,285,353

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.12.23 31.12.22

Productive 13 10
Administration and Management 31 32
44 42

31.12.23 31.12.22
£    £   
Directors' remuneration 215,558 200,541
Directors' pension contributions to money purchase schemes 2,942 2,895

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 215,558 200,541
Pension contributions to money purchase schemes 2,942 2,895

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Other operating leases 148,879 137,304
Depreciation - owned assets 9,898 15,274
Auditors' remuneration 22,786 10,000
Foreign exchange differences (2,900 ) -
Management charges 384,000 384,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest & charges 3,356 3,381
Factoring fees 60,580 66,314
63,936 69,695

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 206,209 130,007
Corporation tax - prior year (33,038 ) -
Total current tax 173,171 130,007

Deferred tax - (1,007 )
Tax on profit 173,171 129,000

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 627,084 413,042
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

156,771

78,478

Effects of:
Expenses not deductible for tax purposes 55,491 51,268
Depreciation in excess of capital allowances 81 261
Corporation Tax - Prior Year (33,038 ) -
Hybrid tax rate (7,772 ) -
relation to research and
Deferred Tax - (1,007 )
R&D Tax credit 1,638 -
Total tax charge 173,171 129,000

9. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary shares of 1 each
Interim - 1,000,000

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 67,015 69,983 63,108 200,106
Additions 566 - 6,726 7,292
Disposals (37,045 ) (46,900 ) (51,378 ) (135,323 )
At 31 December 2023 30,536 23,083 18,456 72,075
DEPRECIATION
At 1 January 2023 59,599 57,683 58,043 175,325
Charge for year 3,523 3,600 2,775 9,898
Eliminated on disposal (37,045 ) (46,900 ) (51,378 ) (135,323 )
At 31 December 2023 26,077 14,383 9,440 49,900
NET BOOK VALUE
At 31 December 2023 4,459 8,700 9,016 22,175
At 31 December 2022 7,416 12,300 5,065 24,781

11. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 3,995,246 4,447,644
Amounts owed by group undertakings - 270,607
Amounts owed from related parties 324,727 57,706
Other Debtor - 3,524
Prepayments and accrued income 413,200 551,612
4,733,173 5,331,093

Amounts falling due after more than one year:
Other debtors 28,336 24,344

Aggregate amounts 4,761,509 5,355,437

Amounts owed by group undertakings and related parties are unsecured, interest free and repayable on demand.

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 13) 217,733 1,562,247
Trade creditors 268,164 277,047
Other Creditors 79,507 96,212
Amounts owed to group undertakings 1,281,582 1,011,535
Amounts owed to related parties - 146,576
Tax 123,924 130,008
Social security and other taxes 72,664 50,681
VAT 1,755 26,503
Accrued expenses 402,945 281,969
2,448,274 3,582,778

Amounts owed to group undertakings and related parties are unsecured, interest free and repayable on demand.

13. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 217,733 1,562,247

14. LEASING AGREEMENTS
Minimum lease payments under operating leases fall due as follows:

31.12.23 31.12.22
£ £
Within one year 58,590 72,254
Between one and five years 127,769 180,639
186,359 252,893

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


15. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 217,733 1,562,247

At the year end, Close Brothers Limited hold the following as security in relation to the group overdraft facility:

1) An unlimited intercompany cross guarantee/debenture/debt purchase arrangement as disclosed in Note 19;

2) A debenture incorporating floating charges over all assets, present and future, of the company, 3D Personnel Group Limited (registered in England and Wales), 3D Personnel Limited (registered in the Republic of Ireland), 3D Specialist Contracting Limited (registered in the Republic of Ireland), and 3DNR Charleston Limited (Registered in the Republic of Ireland);

3) A corporate guarantee from 3DNR Charleston Limited (registered in the Republic of Ireland) in respect of 3D Personnel Limited (registered in the Republic of Ireland);

4) A corporate guarantee from 3D Personnel Group Limited (registered in England and Wales) in respect of the company, 3D Personnel Limited (registered in the Republic of Ireland), and 3D Specialist Contracting Limited (registered in the Republic of Ireland).

5) A personal guarantee and indemnity limited to £100,000 and €50,000 from each of the ultimate controlling parties of 3D Personnel Limited.

In addition, the group overdraft is secured on the assets of all companies party to the cross guarantee disclosed in Note 19.

16. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 2,478 2,478

Deferred
tax
£   
Balance at 1 January 2023 2,478
Balance at 31 December 2023 2,478

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200 Ordinary 1 200 200

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


18. RESERVES
Retained
earnings
£   

At 1 January 2023 1,959,795
Profit for the year 453,913
At 31 December 2023 2,413,708

19. CONTINGENT LIABILITIES

There is a cross guarantee/debenture/debt purchase facility between the company, 3D Personnel Group Limited (registered in England and Wales), 3D Personnel Limited (registered in the Republic of Ireland) and 3D Specialist Contracting Limited (registered in the Republic of Ireland). Under the terms of which amounts due to Close Brothers Limited are secured on the assets of all companies.

Due to various factors that may impact on the above guarantees it is not possible to quantify the amounts that could be involved or give any indication as to the timing of when a liability may arise.

There is also a personal guarantee limited to £100,000 and €50,000 from each of the ultimate controlling parties of 3D Personnel Limited.

In addition, a contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At year end one of the directors owes the company £22,271 (2022; £24,335) as included in other debtors falling due after more than one year. Payments were made of £3,600 and interest charged at 6% per annum of £1,536. The amount is unsecured.

21. RELATED PARTY DISCLOSURES

The company has taken the exemption contained in FRS 102 Section 33.1A - "Related Party Disclosure" not to disclose any transactions with its parent undertakings, fellow subsidiary undertakings or the associated undertakings of any group company on the grounds that it is a 100% owned subsidiary and the consolidated accounts of 3D Personnel Group Limited, in which the company is included, are publically available.

Entities with control, joint control or significant influence over the entity
31.12.23 31.12.22
£    £   
Opening balance (162,745 ) (121,643 )
Recharges (28,060 ) (34,906 )
Management charge (460,800 ) (460,800 )
Payments 953,068 475,760
Amount due from related party 301,464 -
Amount due to related party - (141,589 )

3D PERSONNEL LIMITED (REGISTERED NUMBER: SC315316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


21. RELATED PARTY DISCLOSURES - continued

Other related parties
31.12.23 31.12.22
£    £   
Opening balance 57,435 32,734
Recharges 39,531 19,950
Sundry 165 4,751
Payment (73,867 ) -
Amount due from related parties 23,264 57,435

No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 33.

22. ULTIMATE CONTROLLING PARTY

The company continues to be a wholly owned subsidiary of ultimate parent company 3D Personnel Group Limited , a company registered in England and Wales.

The largest and smallest group in which the results of this company are consolidated is that headed by 3D Personnel Group Limited, registered in England and Wales. These financial statements are available to the public from Companies House, Crown Way, Cardiff.

The company continues to be controlled by M Byrne and D Doherty by virtue of their share ownership of the parent undertaking.