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Registered number: 07061618
Vantage Consulting (Midlands) Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2024
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 December 2024.
Review of the Business
The year 2024 marked a pivotal and successful period of strategic transformation for the company. Building upon the foundation laid in previous years, decisive actions were taken to refocus our strategic direction and streamline our brand portfolio. This included the strategic downsizing of Permanent Recruitment operations in the DACH (Germany, Austria, Switzerland) markets. This decision was informed by a thorough analysis of market conditions and a recognition that the heavily weighted permanent business in DACH faced resource-intensive challenges, fierce competition, and unpredictable revenue streams.
By pivoting to a more focused UK and US business model, we concentrated our efforts on strengthening our core Contract operations while simultaneously enhancing complementary permanent talent solutions. This streamlined approach enabled us to maximize operational efficiency, improve agility, and better align our services with market demands.
We are pleased to report that these bold strategic decisions have already begun to yield positive results. The business has now transitioned into profitability, demonstrating the resilience and sustainability of our redefined model. The focus on core markets has led to improved operational efficiencies, higher margins, and a more predictable revenue stream. Our strengthened position in the UK and US markets is driving consistent growth, setting the foundation for future expansion.
The result of this strategic shift has included a £416,000 year on year operating profit improvement over 2023, and it is the opinion of the board that these short-term figures reflect the necessary investment and restructuring required to generate longer-term growth.
The board is confident that the company's strategic reorientation has positioned it for continued success and long-term profitability. Our commitment to adaptability, market alignment, and sustainable growth remains unwavering.
Principal Risks and Uncertainties
Vantage Consulting’s principle financial risks comprise of macroeconomic pressures, global uncertainty, interest rates, foreign exchange and cash flow liquidity. Vantage mitigate this by trading in highly competitive STEM specialist sectors which are more resilient to the fluctuations of the economy. Offering our staffing solutions internationally aids in elevating our exposure to geographic market downturns. The directors monitor the financial requirements and associated risks regularly. Liquidity risk is monitored weekly with cashflow forecasts, following credit control procedures and cost control procedures. Trade debtors are managed by monitoring their credit worthiness prior to commencing business, and working closely with customers to ensure debt is within credit limits.
As Vantage continues to expand globally, mitigating exposure to foreign exchange risk is paramount, and is conducted by matching revenue v’s costs in the local currency and reviewing exchange exposure on a constant basis.
Future Developments
The board remains confident that the strategic repositioning undertaken and has already seen an improved performance and profitability in 2024. By concentrating our resources on the UK and US specialist STEM Contract markets and supplementary high margin permanent sectors, we aim to capitalize on market opportunities, enhance operational efficiency, and build a stable revenue base.
The company’s leadership remains committed to our strategic plan, with a clear focus on strengthening our core business brands, optimizing our cost structure, and enhancing overall value for stakeholders.
On behalf of the board
Mr J Weavell
Director
23 April 2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Principal Activity
The company's principal activity continues to be that of recruitment consultancy.
Dividends
The value of dividends paid amounted to £240,000 .
The directors do not recommended payment of a further dividend.
Directors
The directors who held office during the year were as follows:
Mr J Weavell
Mr R K Jones
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 2
Page 3
Independent Auditors
The auditors, Deans, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr J Weavell
Director
23 April 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of Vantage Consulting (Midlands) Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) 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's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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 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 directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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.
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 company's operating 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, 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;
- considering the internal controls in place to mitigate risk 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 balances, variances or unexpected relationships;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions; and
- specifically tested the controls around banking payments.
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 claims;
- reviewing correspondence with HMRC and other relevant regulators.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 5
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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 that 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.
Jeremy G Hodgkiss (Senior Statutory Auditor)
for and on behalf of Deans , Statutory Auditor
23 April 2025
Page 6
Page 7
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 10,916,228 10,889,168
Cost of sales (7,682,159 ) (7,188,016 )
GROSS PROFIT 3,234,069 3,701,152
Administrative expenses (2,921,742 ) (3,795,144 )
Other operating income 4,893 1,223
OPERATING PROFIT/(LOSS) 4 317,220 (92,769 )
Profit/(loss) on disposal of fixed assets 22,328 (6,086 )
Other interest receivable and similar income 9 10,842 3,768
Interest payable and similar charges 10 (88,844 ) (83,661 )
PROFIT/(LOSS) BEFORE TAXATION 261,546 (178,748 )
Tax on Profit/(loss) 11 (58,965 ) 24,310
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR 202,581 (154,438 )
The notes on pages 12 to 18 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 202,581 (154,438 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 202,581 (154,438 )
Page 8
Page 9
Balance Sheet
Registered number: 07061618
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 105,120 84,129
105,120 84,129
CURRENT ASSETS
Debtors 13 1,868,435 1,951,139
Cash at bank and in hand 303,982 444,078
2,172,417 2,395,217
Creditors: Amounts Falling Due Within One Year 14 (1,996,681 ) (2,174,056 )
NET CURRENT ASSETS (LIABILITIES) 175,736 221,161
TOTAL ASSETS LESS CURRENT LIABILITIES 280,856 305,290
Creditors: Amounts Falling Due After More Than One Year 15 - (3,670 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 16 (16,655 ) -
NET ASSETS 264,201 301,620
CAPITAL AND RESERVES
Called up share capital 18 100 100
Profit and Loss Account 264,101 301,520
SHAREHOLDERS' FUNDS 264,201 301,620
On behalf of the board
Mr J Weavell
Director
Mr R K Jones
Director
23 April 2025
The notes on pages 12 to 18 form part of these financial statements.
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Page 10
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 100 735,958 736,058
Loss for the year and total comprehensive income - (154,438 ) (154,438)
Dividends paid - (280,000) (280,000)
As at 31 December 2023 and 1 January 2024 100 301,520 301,620
Profit for the year and total comprehensive income - 202,581 202,581
Dividends paid - (240,000) (240,000)
As at 31 December 2024 100 264,101 264,201
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Page 11
Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 433,645 251,907
Interest paid (9,013 ) (3,572 )
Tax paid (105,561 ) (21,878 )
Net cash generated from operating activities 319,071 226,457
Cash flows from investing activities
Purchase of tangible assets (103,313 ) (2,196 )
Proceeds from disposal of tangible assets 34,000 -
Interest received 10,841 3,768
Net cash (used in)/generated from investing activities (58,472 ) 1,572
Cash flows from financing activities
Equity dividends paid (240,000 ) (280,000 )
Amount introduced by directors 4,128 -
Amount withdrawn by directors (164,823) (154,076)
Net cash used in financing activities (400,695 ) (434,076 )
Decrease in cash and cash equivalents (140,096 ) (206,047 )
Cash and cash equivalents at beginning of year 2 444,078 650,125
Cash and cash equivalents at end of year 2 303,982 444,078
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Notes to the Statement of Cash Flows
1. Reconciliation of profit/(loss) for the financial year to cash generated from operations
2024 2023
£ £
Profit/(loss) for the financial year 202,581 (154,438 )
Adjustments for:
Tax on profit/(loss) 58,965 (24,310 )
Interest expense 9,013 3,572
Interest income (10,842 ) (3,768 )
Depreciation of tangible assets 70,650 57,362
(Profit)/loss on disposal of tangible assets (22,328) 6,086
Movements in working capital:
Decrease in trade and other debtors 287,457 414,199
Decrease in trade and other creditors (161,851 ) (46,796 )
Net cash generated from operations 433,645 251,907
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 303,982 444,078
3. Analysis of changes in net funds
As at 1 January 2024 Cash flows As at 31 December 2024
£ £ £
Cash at bank and in hand 444,078 (140,096) 303,982
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Notes to the Financial Statements
1. General Information
Vantage Consulting (Midlands) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07061618 . The registered office is Unit B Gillett Close Dyson Court, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0LQ.
2. Accounting Policies
2.1. Basis of Preparation of 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Permanent placements
When the outcome of a permanent placement of a candidate can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date on which the candidate commences employment. 
Contract workers
When the outcome of a services undertaken by contract workers can be measured reliably, costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the time undertaken by the contract worker in that period. 
Interest receivable
Interest income is recognised using the effective interest method.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Leasehold Straight line over 6 years
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment Straight line over 3 years
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. 
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.  Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
2.9. Government Grant
Government Grants are recognised as income in the period in which the grant becomes receivable using the accruals model.
2.10. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Other Operating Income
2024 2023
£ £
Grant income 4,893 1,223
4,893 1,223
4. Operating Profit/(loss)
The operating profit/(loss) is stated after charging:
2024 2023
£ £
Bad debts 24,000 41,824
Operating lease rentals 58,164 78,503
Exchange differences 5,622 80,687
Depreciation of tangible fixed assets 70,650 57,362
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5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 11,200 13,750
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,801,598 2,188,891
Social security costs 187,286 247,070
Other pension costs 66,779 90,674
2,055,663 2,526,635
7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Directors 2 2
Direct and administration 39 50
41 52
8. Directors' remuneration
2024 2023
£ £
Emoluments 18,192 18,192
Company contributions to money purchase pension schemes 24,000 38,594
42,192 56,786
9. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 4,745 1,765
Other interest received 6,097 2,003
10,842 3,768
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10. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 9,013 947
Interest payable on other loans - 2,625
Factoring charges 79,831 80,089
88,844 83,661
11. Tax on Profit
The tax charge/(credit) on the profit/(loss) for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 19.0% 42,310 -
Deferred Tax
Deferred taxation 16,655 (24,310 )
Total tax charge for the period 58,965 (24,310 )
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 261,546 (178,748)
Tax on profit at 25% (UK standard rate) 65,386 (33,962 )
Goodwill/depreciation not allowed for tax 12,080 12,055
Expenses not deductible for tax purposes 2,907 296
Tax losses utilised (30,003 ) -
Capital allowances (6,917 ) (1,192 )
Short term timing differences 16,655 (24,310 )
Difference in tax rates (1,143 ) -
Tax losses unutilised carried forward - 22,803
Total tax charge for the period 58,965 (24,310)
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12. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 144,427 75,250 37,930 104,273 361,880
Additions 46,200 53,329 1,139 2,645 103,313
Disposals - (41,500 ) - - (41,500 )
As at 31 December 2024 190,627 87,079 39,069 106,918 423,693
Depreciation
As at 1 January 2024 120,356 45,110 24,987 87,298 277,751
Provided during the period 31,771 17,949 3,521 17,409 70,650
Disposals - (29,828 ) - - (29,828 )
As at 31 December 2024 152,127 33,231 28,508 104,707 318,573
Net Book Value
As at 31 December 2024 38,500 53,848 10,561 2,211 105,120
As at 1 January 2024 24,071 30,140 12,943 16,975 84,129
13. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,393,792 1,622,273
Prepayments and accrued income 59,509 112,640
Other debtors 12,494 18,339
Corporation tax recoverable assets 81,018 36,960
Directors' loan accounts 321,622 160,927
1,868,435 1,951,139
14. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 667,124 566,662
Corporation tax 150,212 169,405
Other taxes and social security 63,492 46,829
VAT 142,944 195,167
Other creditors 732,678 976,506
Accruals and deferred income 240,231 218,264
Government grants within one year - 1,223
1,996,681 2,174,056
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15. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Government grants after one year - 3,670
Of the creditors the following amounts are secured.
2024 2023
£ £
Other Creditors 717,168 907,441
16. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 16,655 -
17. Provisions for Liabilities
Deferred Tax Total
£ £
Deferred taxation 16,655 16,655
Balance at 31 December 2024 16,655 16,655
18. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
19. Other Commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £33,108 (2023 - £103,550)
20. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Jonathan Weavell 105,720 110,494 47,361 - 168,853
Mr Russell Jones 55,207 145,380 47,818 - 152,769
The company has charged the directors interest on the loans at a rate of 2.25%. The loans are repayable on demand.
21. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 240,000 280,000
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