REGISTERED NUMBER: 01097389 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

NEAVE EMPLOYMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P A Garrett

SECRETARY:

L C Garrett

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

01097389 (England and Wales)

ACCOUNTANTS:

Lawes & Co UK Limited

Boyce's Building

Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

2,311

4,176

CURRENT ASSETS

Debtors

5

690,132

583,556

Cash at bank and in hand

104,069

79,562

794,201

663,118

CREDITORS

Amounts falling due within one year

6

328,403

98,578

NET CURRENT ASSETS

465,798

564,540

TOTAL ASSETS LESS CURRENT LIABILITIES

468,109

568,716

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

468,009

568,616

SHAREHOLDERS' FUNDS

468,109

568,716

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the director and authorised for issue on 7 April 2025 and were signed by:

P A Garrett - Director

1.	STATUTORY INFORMATION

Neave Employment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 is recognised once the hours worked by temporary staff members have been completed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold

-

Straight line over the life of the lease

Plant and machinery

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 270 (2023 - 71 ) .

4.	TANGIBLE FIXED ASSETS

Long

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 August 2023

34,902

37,646

72,548

Additions

-

333

333

Disposals

(34,902

)

-

(34,902

)

At 31 July 2024

-

37,979

37,979

DEPRECIATION

At 1 August 2023

34,902

33,470

68,372

Charge for year

-

2,198

2,198

Eliminated on disposal

(34,902

)

-

(34,902

)

At 31 July 2024

-

35,668

35,668

NET BOOK VALUE

At 31 July 2024

-

2,311

2,311

At 31 July 2023

-

4,176

4,176

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

669,523

313,405

Other debtors

20,609

270,151

690,132

583,556

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade creditors

6,829

13,528

Taxation and social security

49,599

38,390

Other creditors

271,975

46,660

328,403

98,578

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.24

31.7.23

£

£

Within one year

532

13,486

Between one and five years

-

1,997

532

15,483

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.24

31.7.23

£

£

Invoice factoring/discounting

236,083

-

Bank borrowings are secured by way of an unlimited debenture incorporating a fixed and floating charge over all of the company's assets, dated 20 February 2012.

In addition, the invoice discounting facility is secured by way of an unlimited debenture incorporating a fixed and floating charge over all of the company's assets, dated 23 December 2008.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.24

31.7.23

value:

£

£

70

Ordinary A

£1

70

70

30

Ordinary B

£1

30

30

100

100

All shares have full voting rights, are entitled to dividends and a share on the wind up of the company. Shares rank pari passu in all respects.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be P A Garrett, the director and majority shareholder.