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REGISTERED NUMBER: 09636263 (England and Wales)











GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Statement of Directors' Responsibilities 8

Report of the Independent Auditors 9

Consolidated Income Statement 12

Consolidated Other Comprehensive Income 13

Consolidated Balance Sheet 14

Company Balance Sheet 16

Consolidated Statement of Changes in Equity 17

Company Statement of Changes in Equity 18

Consolidated Cash Flow Statement 19

Notes to the Consolidated Cash Flow Statement 20

Notes to the Consolidated Financial Statements 22


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S J Holland
D J Mepham
R B Stilwell



REGISTERED OFFICE: 1 Cedar Office Park
Cobham Road
Wimborne
Dorset
BH21 7SB



REGISTERED NUMBER: 09636263 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Andrew A Clark FCA



AUDITORS: Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS

A key strength of the Group is the range of professional services we are able to offer to different types and sizes of organisations as well as to individuals. This not just reduces the risk of changes in both legislation and market conditions but means we can capitalise on changes.

IT Infrastructure and Cybersecurity Enhancement
The Affinity Professional Services Group Limited has made significant investments in upgrading its IT systems and processes. The achievement of Cyber Essentials Plus status demonstrates a strong commitment to cybersecurity and data protection. This certification not only enhances the security posture of the organisation but also strengthens client confidence and compliance with industry standards. The upgraded IT infrastructure is expected to improve operational efficiency, reduce risks associated with cyber threats, and support the group's overall digital transformation strategy.

Expansion of Office Presence
The group has expanded its operational footprint by enlarging its head office and opening additional offices in Glasgow and Salisbury. This strategic move reflects a growth-oriented approach aimed at increasing accessibility, improving client service delivery, and supporting business development. The expansion also enhances regional market penetration, allowing the group to attract new clients and talent while reinforcing its brand presence in key locations.

Strengthening Internal Compliance and Operations
The development of an internal compliance team and an operations team signifies a proactive approach to governance and operational excellence. The compliance team ensures adherence to regulatory requirements, mitigates risks, and upholds industry best practices. Meanwhile, the operations team focuses on optimising business processes, improving efficiency, and enhancing service delivery. These strategic enhancements contribute to overall business resilience, ensuring sustainable growth and long-term success.

Commitment to Sustainability and Net Zero Goals
In line with global sustainability efforts, the group has conducted an energy efficiency audit to evaluate and improve its environmental impact. This initiative aligns with the company's commitment to contributing towards net zero emissions. By identifying areas for energy savings and efficiency improvements, the group can reduce operational costs while demonstrating corporate responsibility. This positions the company favourably in an increasingly eco-conscious market where sustainability considerations are integral to business success.

The Affinity Professional Services Group Limited has made substantial strides in strengthening its IT infrastructure, expanding its geographical presence, enhancing sustainability efforts, and reinforcing internal governance. These strategic initiatives position the company for continued growth, improved client trust, and operational excellence in a competitive market. Moving forward, maintaining a focus on innovation, regulatory compliance, and sustainability will be key to achieving long-term success.

Operating Results
In the year ended 30th June 2024 the Group generated turnover of £79m (2023: £64.7m), a 22.1% increase, as a result of a focus on the marketing activities of the Group. Gross profit for the year decreased by 5% to £1.73m (2023: £1.82m), combined with increased administrative expenses, earnings (EBITDA) were £0.95m (2023: £1.15m), a 17% decrease on the previous year.

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


Financial Position
The Directors expect the trading entity to remain cash generative and sufficiently profitable to satisfy liabilities as they fall due. Trade debtors increased by 28% to £4.82m (2023: £3.76m) and creditors increased by 30% to £10.3m (2023: £7.9m).

Cash Flow
The Group's year end cash balance increased from £4.2m in 2023 to £4.8m in 2024.

The Directors consider the measurements above to be sufficient in providing an understanding of the performance and position of the Group and that no further KPIs would be of benefit to this report. As part of the wider group initiative, the Group has invested significantly in improving efficiencies and preparing the infrastructure required for further growth of the business.

PRINCIPAL RISKS AND UNCERTAINTIES
Principal Risks and Uncertainties
The Group has a process in place to manage strategic operational risks that could impact the business that are clearly identified and monitored on an ongoing basis. The key risks and uncertainties currently facing the business are as follows:

- Fraud risk management - The Group implements policies and controls designed to minimise the risk of fraudulent activity within the business. Staff are trained to ensure they are aware of potential red flags and what procedures to follow in case of any doubt. Whilst effective procedures are maintained, it is only possible to minimise the risk of fraudulent activity as opposed to remove it entirely.

- Regulatory risk - the Group operates in a heavily regulated industry that experiences ongoing change. The Group maintains procedures and controls to ensure compliance with all relevant laws and regulations by way of continual regulatory reviews and updates.

- Financial, operational and management information systems - the Group is reliant on effective software for the efficient operation and control of the business. A failure in its systems could result in a loss of key information and have an adverse impact on Group operations. The Group adopts a regular assessment of all information systems and ensures controls are in place to minimise any failure in their operation. The Group is in its final stages of an operational IT system overhaul.

- Key personnel - the Group has in place a strong and experienced senior management team that are key to the ongoing success of the business. A loss of a significant number of key personnel could impact the Group's ability to operate effectively and damage key stakeholder relationships.

- Competition risk - the Group typically operates via rolling contracts and maintains long-term relationships with its customers. The market within which the Group operates is competitive but with the effective management of customer relationships and targeted marketing, existing contracts are maintained whilst new business is generated.


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

SECTION 172(1) STATEMENT
The Board promotes the success of the Group for the benefit of its members and all stakeholders that are key to the long-term success of the business. The impact on all stakeholders are considered throughout all decision making processes including recognition that some decisions required to benefit a particular stakeholder group may not be in the interest of another. The Board ensures all stakeholder groups are treated fairly to ensure the continual success of the Group.

Key Stakeholders
Whilst the below is not an exhaustive list, the Board have identified the key stakeholders of the business and addresses their importance below:

Regulators
The Board recognises the importance of demonstrating to contractors and recruitment businesses that it adheres to rigorous compliance standards and acts both professionally and ethically within the UK tax, employment and regulatory laws. The Group is an accredited member of The Freelancer and Contractor Services Association (FCSA).

Society and Communities
The Board recognises the importance of enacting positive change and commits to supporting the wider society and the environment. Our offices are primarily paperless with all records stored online, we use digital notebooks for information recording and sharing and we recycle everything from lunch waste to delivery packaging. The Group regularly organises charitable fundraisers and provides donations to a variety of local charities.

Culture and Group Values
The Board have developed a set of core business values that are used to drive the behaviour within the business for the benefit of all stakeholder relationships.

Put clients first
We believe that being the best in business means truly understanding the needs of our clients and employees and delivering what they need to the highest standards. When they are happy, our business grows so we listen, we empathise, we support and we value our people and clients.

Think big
We're ambitious, identifying opportunities to grow, both as individuals and as a group. Never settling, we believe in the power of perseverance and continuous improvement, always aiming to be the best that we can be.

Work as a team
We recognise that difficult problems are best solved by people with different views, perspectives and backgrounds. We tackle problems head on, we're non-judgemental and embrace our differences as a team, using these to drive towards our common goals.

Act with integrity
Leading by example, we always do what we say we're going to do, with no tolerance for hidden agendas or politics. We are honest and ethical in our approach to all we do, welcoming feedback from all avenues, both internal and external in order to identify areas to improve.





THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Key events and stakeholders affected
The Group has invested considerable resources in the development of a robust infrastructure to facilitate growth and ensure the ongoing success of the business.

- Head office - Relocation into the new head office optimises operational efficiency, allowing for better collaboration and efficient access to shared services across the Group.

- Senior management team - the appointment of skilled and experienced department leads allowed for better support to existing staff across the Group and in turn a better service offering for our clients.

ENGAGEMENT WITH EMPLOYEES
The greatest asset of the Group are the people and it maintains ongoing relationships ensuring they are included in all of its industry relevant literature whilst responding to their queries in a timely fashion. The Board has ensured continued work in preventing modern slavery and has maintained thorough policies and procedures throughout.

Disabled employees
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitude of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ON BEHALF OF THE BOARD:





D J Mepham - Director


26 March 2025

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of accountants.

DIVIDENDS
Interim dividends were paid on the following classes of shares
£
B Ordinary shares of £1 194,984
C Ordinary shares of £1 194,984
D Ordinary shares of £1 270,484
E Ordinary shares of £1 84,264


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

S J Holland
D J Mepham
R B Stilwell

Other changes in directors holding office are as follows:

R L Murray - resigned 26 April 2024

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The primary focus of the Group is to exceed the expectations of its clients to ensure repeat business and regular referrals. In order to understand their requirements, the Group issues regular feedback surveys and endeavours to adapt in line with client needs. Queries are dealt with immediately and clients are provided with regular updates through email literature and social media postings to keep them informed of changes affecting the industry.

STREAMLINED ENERGY AND CARBON REPORTING
For the year ended 30 June 2024 the Group had UK energy consumption and related emissions of carbon dioxide as follows:

Combustion of gas and heating oil (Scope 1) - 3.2 tonnes (2023 - 4.1 tonnes)
Consumption of fuel for the purpose of transport (Scope 1 & 3) - 30.7 tonnes (2023 - 24.5 tonnes)
Purchase of electricity for own use, including for the purpose of transport (Scope 2 & 3) - 13.1 tonnes (2023 - 9.6 tonnes)

The Group's emissions of carbon dioxide equivalent per full time equivalent person was 0.07 tonnes (2023 - 0.06 tonnes).

The aggregate annual quantity of energy consumed for activities for which the Group is responsible was 216,690 kWh (2023 - 186,580 kWh).


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

Greenhouse gas emissions are reported in gross tonnes Co2e in line with the requirements set out in the UK Government's Environmental Reporting Guidelines (March 2019 version) and use the UK Government Green House Gas Conversion Factors for Company Reporting (2024 version 1.1). The operational control approach for the group's UK activities has been applied and is guided by the Green House Gas Protocol - Corporate Standard (revised edition).

Consumption of fuel for the purpose of transport includes fuel used in company owned vehicles (Scope 1) directors' and employees' vehicles for business purposes (Scope 3). Energy consumption and emissions are estimated and based on mileage. As vehicle details are unrecorded, emissions factors and conversion from miles to kWh is based on an 'Average Car and 'Unknown' fuel.

Energy efficiency action
The Group are in the process of implementing an energy efficiency strategy, which will form part of the wider Environmental, Social and Governance strategy which will include provisions to reduce waste (both fuel and landfill) and improve efficiency.

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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D J Mepham - Director


26 March 2025

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2024


The directors are responsible for preparing the Group 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). 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 the group and of the profit or loss of the group 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED


Opinion
We have audited the financial statements of The Affinity Professional Services Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 June 2024 and of the group's 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 group 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 group's and the parent 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 eight, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE AFFINITY PROFESSIONAL SERVICES GROUP
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:

Our audit work included testing complete populations of certain transactions and balances, and using data auditing techniques. In other areas our procedures comprise investigating a limited number of items for testing, rather than testing complete populations.

We based our audit samples following a comprehensive audit plan after reviewing the accounts and discussing them with the directors. The level of testing is then based on our observations of controls and responses with the work targeting particular items for testing based on their size or risk characteristics.

In other cases, we used audit sampling to enable us to draw a conclusion about the population from which the sample is selected.

We make enquiries of management concerning compliance with laws and regulations affecting the industry in which the group operates.

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.

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.




Andrew A Clark FCA (Senior Statutory Auditor)
for and on behalf of Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

26 March 2025

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   

TURNOVER 3 78,992,267 64,712,779

Cost of sales 77,261,962 62,892,818
GROSS PROFIT 1,730,305 1,819,961

Administrative expenses 1,423,642 1,212,651
306,663 607,310

Other operating income 503,799 429,923
OPERATING PROFIT 5 810,462 1,037,233

Interest receivable and similar income 61,600 5,459
872,062 1,042,692

Interest payable and similar expenses 6 13,248 66,828
PROFIT BEFORE TAXATION 858,814 975,864

Tax on profit 7 236,627 228,893
PROFIT FOR THE FINANCIAL YEAR 622,187 746,971
Profit attributable to:
Owners of the parent 622,187 746,971

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   

PROFIT FOR THE YEAR 622,187 746,971


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

622,187

746,971
Note
Prior year adjustment 10 10,970 68,833
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

633,157

815,804

Total comprehensive income attributable to:
Owners of the parent 633,157 815,804

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 249,056 419,595
Tangible assets 12 297,926 251,114
Investments 13 - -
546,982 670,709

CURRENT ASSETS
Debtors 14 5,438,379 3,847,543
Cash at bank 4,840,685 4,189,009
10,279,064 8,036,552
CREDITORS
Amounts falling due within one year 15 10,294,729 7,920,664
NET CURRENT (LIABILITIES)/ASSETS (15,665 ) 115,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,317

786,597

CREDITORS
Amounts falling due after more than one
year

16

(52,082

)

(190,658

)

PROVISIONS FOR LIABILITIES 19 (26,706 ) (20,881 )
NET ASSETS 452,529 575,058

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED BALANCE SHEET - continued
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 20 1,004 1,004
Retained earnings 451,525 574,054
SHAREHOLDERS' FUNDS 452,529 575,058


The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





D J Mepham - Director


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 500 400
500 400

CURRENT ASSETS
Debtors 14 1,000 -
Cash at bank 67 2,986
1,067 2,986
CREDITORS
Amounts falling due within one year 15 236 136
NET CURRENT ASSETS 831 2,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,331

3,250

CAPITAL AND RESERVES
Called up share capital 20 1,004 1,004
Retained earnings 327 2,246
SHAREHOLDERS' FUNDS 1,331 3,250

Company's profit for the financial year 742,797 506,411

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





D J Mepham - Director


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1,004 473,243 474,247
Prior year adjustment - 68,833 68,833
As restated 1,004 542,076 543,080

Changes in equity
Dividends - (714,993 ) (714,993 )
Total comprehensive income - 736,001 736,001
Balance at 30 June 2023 1,004 563,084 564,088
Prior year adjustment - 10,970 10,970
As restated 1,004 574,054 575,058

Changes in equity
Dividends - (744,716 ) (744,716 )
Total comprehensive income - 622,187 622,187
Balance at 30 June 2024 1,004 451,525 452,529

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1,004 210,828 211,832

Changes in equity
Dividends - (714,993 ) (714,993 )
Total comprehensive income - 506,411 506,411
Balance at 30 June 2023 1,004 2,246 3,250

Changes in equity
Dividends - (744,716 ) (744,716 )
Total comprehensive income - 742,797 742,797
Balance at 30 June 2024 1,004 327 1,331

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,607,617 (71,766 )
Interest paid (2,349 ) (58,683 )
Interest element of hire purchase payments
paid

(10,899

)

(8,145

)
Tax paid (133,193 ) (192,513 )
Net cash from operating activities 1,461,176 (331,107 )

Cash flows from investing activities
Purchase of intangible fixed assets - (314,093 )
Purchase of tangible fixed assets (118,717 ) (192,937 )
Interest received 61,600 5,459
Net cash from investing activities (57,117 ) (501,571 )

Cash flows from financing activities
New loans in year - 62,085
Capital repayments in year (7,322 ) (4,648 )
Amount introduced by directors - 2,856
Amount withdrawn by directors (345 ) -
Equity dividends paid (744,716 ) (714,993 )
Net cash from financing activities (752,383 ) (654,700 )

Increase/(decrease) in cash and cash equivalents 651,676 (1,487,378 )
Cash and cash equivalents at beginning
of year

2

4,189,009

5,676,387

Cash and cash equivalents at end of year 2 4,840,685 4,189,009

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
as restated
£    £   
Profit before taxation 858,814 975,864
Depreciation charges 131,749 116,034
Loss on disposal of fixed assets 2,925 -
Finance costs 13,248 66,828
Finance income (61,600 ) (5,459 )
945,136 1,153,267
(Increase)/decrease in trade and other debtors (1,590,836 ) 1,228,111
Increase/(decrease) in trade and other creditors 2,253,317 (2,453,144 )
Cash generated from operations 1,607,617 (71,766 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 4,840,685 4,189,009
Year ended 30 June 2023
30/6/23 1/7/22
as restated
£    £   
Cash and cash equivalents 4,189,009 5,676,387


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank 4,189,009 651,676 4,840,685
4,189,009 651,676 4,840,685
Debt
Finance leases (128,835 ) 7,322 (121,513 )
(128,835 ) 7,322 (121,513 )
Total 4,060,174 658,998 4,719,172

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

The Affinity Professional Services Group 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Basis of consolidation
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of the business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent considerations after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for the final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at at cost less impairment.

Deferred tax is recognised on differences between the value of the assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated financial statements incorporate those of The Affinity Professional Services Group Limited and all its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All the financial statements are made up to 30th June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealized gains on transactions between group companies are eliminated on consolidation. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. In the group financial statements, joint ventures are accounted for using the equity method.

Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates. In the group financial statements, associates are accounted for using the equity method.

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

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of fees is initially being amortised at a rate of 25% reducing balance for the first 5 years with the remainder being amortised on a straight line basis over the remaining useful life of 5 years.

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the term of the lease
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets are initially recognised at cost.

Financial instruments
Classification

The group holds the following financial instruments:-

Short term trade and other debtors and creditors
Long term loan debtors held at amortised cost
Intercompany loans held at amortised cost; and
Cash and bank balances

All financial instruments are classified as basic.

Recognition and measurement

The group has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the asset expire or substantially all risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the group's obligations are discharged, expire or are cancelled.

Except for the loan debtors finance facility and other loans, all other instruments are initially measured at transaction price, including transaction costs, and are substantially carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking into account impairment adjustments.

The loan debtor finance facility is initially measured at transaction price, and is subsequently carried at amortised cost using the effective interest method.

Other loans are measured at transaction price and subsequently carried at amortised cost.


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

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

2024 2023
as restated
£    £   
Umbrella sales 74,712,855 60,831,518
Margin 477,406 378,986
Accountancy income 3,802,006 3,502,275
78,992,267 64,712,779

4. EMPLOYEES AND DIRECTORS
2024 2023
as restated
£    £   
Wages and salaries 61,011,674 50,245,859
Social security costs 7,424,915 6,681,706
Other pension costs 8,303,054 5,406,717
76,739,643 62,334,282

The average number of employees during the year was as follows:
2024 2023
as restated

Staff 718 622

The average number of employees by undertakings that were proportionately consolidated during the year was 718 (2023 - 622 ) .

2024 2023
as restated
£    £   
Directors' remuneration 46,090 50,280
Directors' pension contributions to money purchase schemes 137,780 78,557

During the year, a total of key management personnel compensation of £681,820 (2023 - £507,262) was paid.

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
as restated
£    £   
Hire of plant and machinery 1,540 1,540
Other operating leases 101,893 86,697
Depreciation - owned assets 40,010 14,796
Depreciation - assets on hire purchase contracts 28,969 23,281
Loss on disposal of fixed assets 2,925 -
Goodwill amortisation 62,770 77,957
Auditors' remuneration 13,200 13,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
as restated
£    £   
Interest 2,349 57,830
Other loan interest - 853
Hire purchase 10,899 8,145
13,248 66,828

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
as restated
£    £   
Current tax:
UK corporation tax 230,802 214,515
(Over)/under provision - (2,738 )
Total current tax 230,802 211,777

Deferred tax 5,825 17,116
Tax on profit 236,627 228,893

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. TAXATION - continued

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:

2024 2023
as restated
£    £   
Profit before tax 858,814 975,864
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 25 %)

214,704

243,966

Effects of:
Expenses not deductible for tax purposes 4,514 17,050
Capital allowances in excess of depreciation - (1,733 )
Depreciation in excess of capital allowances 1,716 -
Adjustments to tax charge in respect of previous periods - (2,738 )
Effect of change in main rate of corporation tax - (47,141 )
Non qualifying amortisation 15,693 19,489
Total tax charge 236,627 228,893

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
as restated
£    £   
B Ordinary share of £1
Interim 194,984 165,255
C Ordinary share of £1
Interim 194,984 202,255
D Ordinary share of £1
Interim 270,484 229,255
E Ordinary share of £1
Interim 84,264 118,228
744,716 714,993

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. PRIOR YEAR ADJUSTMENT

A prior year adjustment has been made in respect of a change of accounting policy as a result of a review of the basis on which goodwill is amortised.

The effect of the prior year adjustment is an increase in reserves brought forward as at 1 July 2022 of £68,333 and an increase in profits previously reported in the year ended 30 June 2023 of £10,970. The overall effect is an increase on reserves previously reported as at 30 June 2023 of £79,803.

There is no effect on taxation previously reported as at 30 June 2022 or 30 June 2023.

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2023 623,528
Disposals (107,769 )
At 30 June 2024 515,759
AMORTISATION
At 1 July 2023 203,933
Amortisation for year 62,770
At 30 June 2024 266,703
NET BOOK VALUE
At 30 June 2024 249,056
At 30 June 2023 419,595

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. TANGIBLE FIXED ASSETS

Group
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 57,216 61,217 157,302 55,882 331,617
Additions - 24,718 64,958 29,041 118,717
Disposals - (1,211 ) (958 ) (1,575 ) (3,744 )
At 30 June 2024 57,216 84,724 221,302 83,348 446,590
DEPRECIATION
At 1 July 2023 - 24,498 40,759 15,246 80,503
Charge for year - 17,212 40,510 11,257 68,979
Eliminated on disposal - (489 ) - (329 ) (818 )
At 30 June 2024 - 41,221 81,269 26,174 148,664
NET BOOK VALUE
At 30 June 2024 57,216 43,503 140,033 57,174 297,926
At 30 June 2023 57,216 36,719 116,543 40,636 251,114

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 157,302
DEPRECIATION
At 1 July 2023 40,759
Charge for year 28,969
At 30 June 2024 69,728
NET BOOK VALUE
At 30 June 2024 87,574
At 30 June 2023 116,543

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023 400
Additions 100
At 30 June 2024 500
NET BOOK VALUE
At 30 June 2024 500
At 30 June 2023 400

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

SG Contractor Accounting Limited
Registered office: 1 Cedar Office Park, Cobham Road, Wimborne, Dorset, BH21 7SB
Nature of business: Accountancy Services
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 64,738 174,350
Profit for the year 370,206 554,023

SG Umbrella Limited
Registered office: 1 Cedar Office Park, Cobham Road, Wimborne, Dorset, BH21 7SB
Nature of business: Accountancy services
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 247,865 171,399
Profit for the year 137,873 39,586

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. FIXED ASSET INVESTMENTS - continued

Vantage Accounting Services Limited
Registered office: 1 Cedar Office Park, Cobham Road, Wimborne, Dorset, BH21 7SB
Nature of business: Accountancy services
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 138,894 226,359
Profit for the year 114,860 152,849

The Small Business Shop Limited
Registered office: 1 Cedar Office Park, Cobham Road, Wimborne, Dorset, BH21 7SB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

Online Tax Returns Ltd
Registered office: 1 Cedar Office Park, Cobham Road, Wimborne, England, BH21 7SB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024
£   
Aggregate capital and reserves 100


THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Trade debtors 4,821,723 3,758,475 - -
Amounts owed by group undertakings - - 1,000 -
Amounts recoverable on contract 4,900 - - -
Other debtors 555,291 20,579 - -
Prepayments and accrued income 56,465 68,489 - -
5,438,379 3,847,543 1,000 -

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Hire purchase contracts (see note 17) 69,431 6,652 - -
Trade creditors 67,450 70,674 - -
Amounts owed to group undertakings - - 200 100
Corporation tax 230,837 133,228 36 36
Social security and other taxes 1,874,963 1,913,773 - -
VAT 2,878,166 2,166,003 - -
Other creditors 719,819 590,954 - -
Directors' current accounts 2,511 2,856 - -
Accruals and deferred income 4,451,552 3,036,524 - -
10,294,729 7,920,664 236 136

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
2024 2023
as restated
£    £   
Hire purchase contracts (see note 17) 52,082 122,183
Other creditors - 68,475
52,082 190,658

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
as restated
£    £   
Gross obligations repayable:
Within one year 71,655 9,988
Between one and five years 52,082 124,407
123,737 134,395

Finance charges repayable:
Within one year 2,224 3,336
Between one and five years - 2,224
2,224 5,560

Net obligations repayable:
Within one year 69,431 6,652
Between one and five years 52,082 122,183
121,513 128,835

Group
Non-cancellable operating leases
2024 2023
as restated
£    £   
Between one and five years 14,067 24,154
In more than five years 532,288 598,385
546,355 622,539

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
as restated
£    £   
Hire purchase contracts 121,513 128,835

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
as restated
£    £   
Deferred tax 26,706 20,881

Group
Deferred
tax
£   
Balance at 1 July 2023 20,881
Charge to Income Statement during year 5,825
Balance at 30 June 2024 26,706

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
1,000 Ordinary £1 1,000 1,000
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
1 E Ordinary £1 1 1
1,004 1,004

THE AFFINITY PROFESSIONAL SERVICES GROUP
LIMITED (REGISTERED NUMBER: 09636263)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


21. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH COMPANIES UNDER COMMON CONTROL

During the year the group charged management fees to companies under common control. The amount included in the profit and loss account for the year was £474,947 (2023 - £409,869).

TRANSACTIONS WITH COMPANIES IN WHICH A DIRECTOR HAS AN INTEREST

During the year a loan was advanced by a subsidiary company to a company in which a director has an interest. The amount due from the related party at the balance sheet date amounted to £534,635. Interest is payable at 1.5% per annum and the loan is repayable on demand. No interest was received in the current year.

22. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there was no ultimate controlling party in the current or previous period.