Registration number:
Contractor Umbrella Limited
for the Year Ended 30 April 2024
Contractor Umbrella Limited
Contents
Company Information |
|
Strategic Report |
|
Director's Report |
|
Independent Auditor's Report |
|
Profit and Loss Account and Statement of Retained Earnings |
|
Balance Sheet |
|
Notes to the Financial Statements |
Contractor Umbrella Limited
Company Information
Director |
Mr S J Dolan |
Company secretary |
Mr S J Dolan |
Registered office |
|
Auditors |
|
Contractor Umbrella Limited
Strategic Report for the Year Ended 30 April 2024
The director presents his strategic report for the year ended 30 April 2024.
Principal activity
The principal activity of the company is that of a contracting umbrella company.
Fair review of the business
The results for the year show a 24.59% decrease in turnover. This is due to the loss of a contractor base, with the average contractor number being down from 954 in the prior year to 682 in the current year. We have seen an increase in gross profit by 117%, due to adjustments made to agency margins.
The company posted a profit for the year which is in line with increase in gross profits.
The company's key financial and other performance indicators during the year were as follows:
Financial KPIs |
Unit |
2024 |
2023 |
Turnover |
£ |
94,810,335 |
125,722,633 |
Gross Profit |
£ |
695,978 |
319,506 |
Gross Profit % |
% |
1 |
|
Administration Expenses |
£ |
729,350 |
709,692 |
Operating Loss |
£ |
(32,052) |
(389,886) |
Profit/(Loss) for the financial year |
£ |
179,139 |
(250,023) |
Principal risks and uncertainties
The directors understand the need to manage the risks to the company and continue to monitor trading performance on a regular basis and consider the following matters to be the principal risks and uncertainties.
In relation to the key financial risks on price, credit, liquidity, and cash flow, the directors have familiarised themselves with the concepts of these risks and have assessed that at this time there is no significant exposure to the company.
The company has no option but to tailor its operations according to the requirements of HMRC. Agency workers and recruitment agencies, which make up the core customer base of the business, are subject to considerable legislation and much of the practical compliance with this legislation is passed to umbrella companies.
The business is at risk if it does not keep up to date with changes to said legislation as well as the introduction of new regulations; recruitment agencies will not work with non-compliant companies and there is an ever present risk of investigation from HMRC. Contractor Umbrella has mitigated these risks by retaining the services of an industry specialist firm of solicitors and undertaking industry audits to confirm compliance.
Financial risks to the business are few, as receipts from recruitment agencies are not passed to contractors and HMRC until received by the company. Even so, to mitigate this risk, due diligence checks are carried out internally when we commence trading with a new recruitment agency or end client.
Our sister company, Dolan Accountancy, enables Contractor Umbrella to offer a fully rounded offering to contractors. We now have the added benefit of our “switching service” for those contractors who operate both inside and outside IR35 for assignments.
The directors will continue to improve the company’s processes and explore other areas for expansion. The directors will continue to monitor the company’s activities to address any significant risks that do arise to ensure these are minimised to the maximum possible extent.
Contractor Umbrella Limited
Strategic Report for the Year Ended 30 April 2024
Companies Act 2006 section 172 reporting
Under Section 172 of the Companies Act 2006, the director has a duty to promote the success of the company for the benefit of its members as a whole, having regard to the interests of other stakeholders in the
company, such as suppliers, and to do so with an understanding of the impact on the community and environment and with high standards of business conduct, which includes acting fairly between members of
the company.
The director is conscious of these wider responsibilities in the way he promotes the company's culture and ensures, as part of its regular oversight, that the integrity of the company's affairs is foremost in the way the
activities are managed and promoted. This includes being alert to issues that might damage the company's standing in the way it operates. The director recognises the importance of his environmental responsibilities,
monitors its impact on the environment, and designs and implements policies to reduce any damage that might be caused wherever possible. Initiatives include recycling and reducing energy consumption.
The company has a number of stakeholders and believes it is important to engage with them widely. The main stakeholder relationships are with customers, employees, regulators and shareholders. Customers lie at the
heart of the business and understanding their needs is an integral part of providing a relevant and up to date product offering that will attract a growing number of new customers and assist customer retention. The
company values exceptional customer service. Employees are the key asset to support the company's objectives. They understand the obligations that come with working in this industry, operating with integrity
and with respect for customers, regulators and other stakeholders.
The director is fully engaged in both oversight and the general strategic direction of the company which is set out in the annual business plan. During the year the director's main strategic plans focussed around growing
the list of agencies we currently work with whilst continuing to offer excellent service to further grow our contractor base. The director remains confident in the prospects of the business going forward. Future
success and value creation will be mainly based on increasing contractor numbers.
Approved and authorised by the
......................................... |
Contractor Umbrella Limited
Director's Report for the Year Ended 30 April 2024
The director presents his report and the financial statements for the year ended 30 April 2024.
Director of the company
The director who held office during the year was as follows:
Financial instruments
Objectives and policies
The company will continue drive for sustainable growth in revenues, gaining new clients and continuing to focus on robust procedures and compliance.
Price risk, credit risk, liquidity risk and cash flow risk
The company faces limited credit risk as the vast majority of the client base are not extended any credit terms. There is limited price risk due to the transactional nature of the business but the company manages this by ensuring that the service provision is high quality and represents value for money at all times.
Energy and carbon report
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficient activities.
Statement of director's responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Disclosure of information to the auditors
The director has taken 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. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Contractor Umbrella Limited
Director's Report for the Year Ended 30 April 2024
Reappointment of auditors
The auditors Xeinadin Audit Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
......................................... |
Contractor Umbrella Limited
Independent Auditor's Report to the Members of Contractor Umbrella Limited
Opinion
We have audited the financial statements of Contractor Umbrella Limited (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, 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 30 April 2024 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 auditor 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 director's 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 original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Contractor Umbrella Limited
Independent Auditor's Report to the Members of Contractor Umbrella Limited
Opinion on other matter 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Director's Report.
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 director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the statement of directors' responsibilities, the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor 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 an auditor’s report 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:
Contractor Umbrella Limited
Independent Auditor's Report to the Members of Contractor Umbrella Limited
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
• reading the minutes of meetings of those charged with governance;
• enquiring of management as to actual and potential litigation and claims; and
• reviewing correspondence with HMRC, relevant regulators, and the company’s legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Contractor Umbrella Limited
Independent Auditor's Report to the Members of Contractor Umbrella 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 an auditor’s report 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.
......................................
For and on behalf of
Chartered Accountants
Statutory Auditors
Leavesden Park
5 Hercules Way
Hertfordshire
WD25 7GS
Contractor Umbrella Limited
Profit and Loss Account and Statement of Retained Earnings
for the Year Ended 30 April 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
- |
|
Operating loss |
( |
( |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar charges |
( |
( |
|
211,191 |
90,123 |
||
Profit/(loss) before tax |
|
( |
|
Taxation |
- |
|
|
Profit/(loss) for the financial year |
|
( |
|
Retained earnings brought forward |
118,395 |
897,418 |
|
Dividends paid |
( |
( |
|
Retained earnings carried forward |
(12,466) |
118,395 |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Contractor Umbrella Limited
(Registration number: 04324081)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
|||
£ |
£ |
£ |
£ |
||
Fixed assets |
|||||
Tangible assets |
|
|
|||
Current assets |
|||||
Debtors |
|
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts falling due within one year |
( |
( |
|||
Net current (liabilities)/assets |
( |
|
|||
Net (liabilities)/assets |
( |
|
|||
Capital and reserves |
|||||
Called up share capital |
|
|
|||
Profit and loss account |
( |
|
|||
Total equity |
( |
|
Approved and authorised by the
......................................... |
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of these accounts is £ Sterling and the level of rounding is to the nearest £.
Summary of disclosure exemptions
As the consolidated financial statements of D'Anconia Limited, the parent company, are prepared according to the full recognition, measurement and disclosure requirements of FRS 102 and therefore include equivalent disclosures, the company has taken the available exemptions under FRS 102 in respect of the following areas:
• Disclosures relating to the requirements of section 7 statement of cash flows;
• The disclosure requirements of section 11 and section 12, where disclosures equivalent to those required by FRS 102 are included in the consolidated financial statements of the Group; and
• Disclosures requirements of section 33 related party disclosures, regarding disclosure of related party transactions between wholly owned members of the same Group.
Going concern
The financial statements have been prepared on the going concern basis as Contractor Umbrella will be supported by the other companies within the group.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Amounts receivable from processing the amounts payable to contractors are recognised on submission of contractor timesheets.
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Rendering of services |
|
|
The analysis of the company's Turnover for the year by market is as follows:
2024 |
2023 |
|
UK |
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2024 |
2023 |
|
Miscellaneous other operating income |
|
- |
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Operating loss |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Interest expense on other finance liabilities |
|
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
2024 |
2023 |
|
Admin Employees |
|
|
Contractors |
|
|
|
|
Auditors' remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Other fees to auditors |
||
All other non-audit services |
|
|
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
- |
( |
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit/(loss) before tax |
|
( |
Corporation tax at standard rate |
|
( |
Tax decrease from effect of capital allowances and depreciation |
( |
( |
Effect of expense not deductible in determining taxable profit (tax loss) |
- |
|
Tax decrease from changes in tax provisions due to legislation |
( |
( |
Total tax credit |
- |
( |
Deferred tax
Deferred tax assets and liabilities
2024 |
Asset |
Liability |
Tax losses |
|
- |
|
- |
2023 |
Asset |
Liability |
Tax losses |
|
- |
|
- |
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Fixtures, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 May 2023 |
|
|
Additions |
|
|
At 30 April 2024 |
|
|
Depreciation |
||
At 1 May 2023 |
|
|
Charge for the year |
|
|
At 30 April 2024 |
|
|
Carrying amount |
||
At 30 April 2024 |
|
|
At 30 April 2023 |
|
|
Debtors |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
- |
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Accrued income |
|
|
|
Deferred tax assets |
|
|
|
|
|
Cash and cash equivalents |
2024 |
2023 |
|
Cash at bank |
|
|
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Creditors |
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Social security and other taxes |
|
|
Outstanding defined contribution pension costs |
|
|
Other creditors |
|
|
Accruals |
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
- |
|
- |
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2023 - £
Contractor Umbrella Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Dividends |
2024 |
2023 |
|||
£ |
£ |
|||
Interim dividend of £ |
310,000 |
529,000 |
||
Related party transactions |
Summary of transactions with all entities with joint control or significant interest
During the year the company was invoiced £100,000 (2023: £100,000) by a company in which the director has significant control. Included within other debtors at the year end is a balance of £Nil (2023: £233,546) due from the company.
Income and receivables from related parties
2024 |
Key management |
Other related parties |
Settlement of liabilities |
( |
( |
|
2023 |
Key management |
Other related parties |
Amounts receivable from related party |
|
|
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is