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REGISTERED NUMBER: 04218958 (England and Wales)


















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

UNIQUE PERSONNEL (U.K.) LIMITED

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Financial Statements 14


UNIQUE PERSONNEL (U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G E Aghoghovbia
H M Aghoghoubia



SECRETARY: J A Aghoghovbia



REGISTERED OFFICE: 394 Ground Floor And Basement
Streatham High Road
London
SW16 6HX



REGISTERED NUMBER: 04218958 (England and Wales)



SENIOR STATUTORY AUDITOR: Shahid Hameed FCA FCCA



AUDITORS: THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The directors are pleased with a strong year, with increased turnover of 10% on 2023 despite challenging uncontrollable pressures for example increases in minimum and London living wages. The company's overall profits before tax remained consistent with growth despite the pressures mentioned above, which the directors consider to be an excellent performance. Where possible, hourly charge out prices have been increased to mirror the rise in living wages which have kept margins constant.

The directors consider that the key financial performance indicators are the turnover, gross margin and pre-tax
results.

Turnover has continued to rise, posting a 10% increase to £13,126,424 as the company continues to maintain
and expand the local authorities that it serves. Gross profit margin also remains consistent with last year.

Non-financial key performance indicators are considered to be:
Quality control and standards
Local authority retention
Ability to retain staffing levels to meet demands
New tenders issued
Company reputation
Employee skill set and training

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the nature of the Company's strategy are subject to a number of risks.

The Directors have set out below the principal risks facing the business.

The Directors are of the opinion that a thorough risk management process is adopted which involves a formal review of all risks identified below. Where possible, processes are in place to mitigate such risks.

Operational risk
Operational risk is the risk of losses caused by flawed or failed processes, systems, policies or events that disrupt business operations. Although tremendous investment has been made in the performances of systems, processes are ultimately within the full control of the managerial staff. Management of these higher level staff along with emphasis on internal controls are a priority of the company to ensure relevant risk is minimised where possible.

Competition risk
Competition risk is the potential for a business’s competitors to prevent a company’s growth and success. Competition in the London Boroughs is highly saturated with many attempting to undercut where possible. Unique Personnel in order to maximise recruitment of staff focus on healthy staff salaries and quality service to distinguish them from others.

Uncontrollable risks
Uncontrollable risks are present and directly influence Unique Personnel’s ability to perform. Examples of these risks include statutory changes in minimum and average pay which are set in stone by government dictation, along with strong pressures from local authorities who in part set prices that they pay per hour. Although uncontrollable, the company makes a conscious effort to review costs and margins on a consistent basis to ensure that despite government influence profitability is still evident.

ON BEHALF OF THE BOARD:





G E Aghoghovbia - Director


29 April 2025

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of provision of care home services.

GOING CONCERN
The balance sheet as at 30 April 2024 shows a deficit in shareholders' funds.

The Company continues to meet its day to day working capital requirements through operating cashflows.

The Directors are confident that the Company will continue to deliver positive cash flows from trading that will be sufficient to meet working capital and financial obligations as they fall due.

Having considered all the relevant facts the directors consider it is appropriate to prepare the financial statements on a going concern basis.

DIVIDENDS
No dividends will be distributed for the period ended 30 April 2024 (2023: £nil).

FUTURE DEVELOPMENTS
The coming year will see further growth as Unique Personnel seek expansion into further London Boroughs fuelled by their constant efforts to recruit and maintain staffing levels operationally. In the year so far, several new tenders have been issued in respect of new contracts with extreme emphasis on maintaining and where possible increasing margins.

Additionally, to ensure expansion is controlled, further focus is being placed on improving the skill set of managerial level staff along with recruiting those of a similar stature.

The directors foresee further increases in both turnover and profitability as the business continues to trade into 2025.

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

G E Aghoghovbia
H M Aghoghoubia

ENGAGEMENT WITH EMPLOYEES
The company does not discriminate between employees or potential employees on grounds of colour, race, ethnic or national origin, sex, disability, age, marital status or religious beliefs. Full consideration is given to applications for employment from those with disabilities who are able to demonstrate that they have the necessary abilities.

The importance of staff training, equal opportunity, health and safety, environmental matters and the avoidance of sexual harassment is recognised at all levels and is monitored on a regular basis by committees chaired by a director or senior manager reporting directly to the Board.

The company gives full and fair consideration to applications for employment from those with disabilities. In the event of employees becoming disabled whilst in service of the company, every effort is made to continue their employment by transfer to alternative duties, if required and by provision of such retraining as is appropriate.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen to make disclosures in relation to financial risk management and other matters considered to be of strategic importance which would otherwise be in the Directors report within the Strategic Report.

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

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

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


UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

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

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

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

ON BEHALF OF THE BOARD:





G E Aghoghovbia - Director


29 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNIQUE PERSONNEL (U.K.) LIMITED


Qualified opinion
We have audited the financial statements of Unique Personnel (U.K.) Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report on the current year and corresponding figures, the financial statements:
- give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
Limitation of scope - Trade debtors and opening balances reserves
We have been unable to verify opening balances due to the lack of working papers provided by our predecessor accountancy firm. We were unable to satisfy ourselves by alternative means concerning the opening balances by using other audit procedures. Consequently, we were unable to determine whether any adjustment to trade debtors is necessary. We have concluded that an adjustment of £1,146,079 was required to opening reserves.

Limitation of scope - Income completeness, trade debtors recoverability and expenditure testing
Due to the poor state of the accounting records and lack of supporting documentation, we have been unable to satisfy ourselves that income is complete, that trade debtors are fully recoverable and that expenditure is accurately recorded. Consequently, we were unable to determine whether any adjustment to income, trade debtors and expenditure is necessary.

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

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

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

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

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

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

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

As described in the basis for qualified opinion section or our report, we were unable to verify opening balances, income completeness, trade debtors recoverability and expenditure testing due to the lack of available evidence. We have concluded that where the other information refers to debtors or related balances within the income statement, it may be materially misstated for the same reason.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNIQUE PERSONNEL (U.K.) LIMITED


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

Matters on which we are required to report by exception
Except for the matter described in the basis for qualified opinion section of our report, 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 directors’ report.

Arising solely from the limitation on the scope of our work relating to opening balances, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept.

In relation to the following financial statement areas, we report that the company did not keep proper books and records during the year ended 30 April 2024:

- Trade debtors
- Trade creditors
- Payroll
- Expenditure receipts

Due to extensive repair work undertaken by the client, we were however able to obtain sufficient and appropriate audit evidence in relation to payroll and trade creditors on these areas and are therefore not qualifying our report in respect of these matters.

Except for matters noted above, 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:

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

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

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNIQUE PERSONNEL (U.K.) 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 the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, UK Visas and Immigration (UKVI) and health & safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, UKVI and any other relevant regulators as required.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities 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.

Other matters which we are required to address
The financial statements for the year ended 30 April 2023, forming the corresponding figures of the financial statements for the year ended 30 April 2024, are unaudited as the directors claimed exemption from under section 477 of the Companies Act 2006 relating to small companies.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNIQUE PERSONNEL (U.K.) LIMITED


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




Shahid Hameed FCA FCCA (Senior Statutory Auditor)
for and on behalf of THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ

29 April 2025

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £   

TURNOVER 13,126,424 11,889,574

Cost of sales 10,187,520 9,220,590
GROSS PROFIT 2,938,904 2,668,984

Administrative expenses 3,005,008 2,571,392
(66,104 ) 97,592

Other operating income 241,862 23,017
OPERATING PROFIT 4 175,758 120,609

Interest receivable and similar income 2,923 -
178,681 120,609

Interest payable and similar expenses 5 130,261 79,546
PROFIT BEFORE TAXATION 48,420 41,063

Tax on profit 6 22,133 8,619
PROFIT FOR THE FINANCIAL YEAR 26,287 32,444

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £   

PROFIT FOR THE YEAR 26,287 32,444


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

26,287

32,444
Note
Prior year adjustment 7 (1,112,164 ) (1,112,164 )
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

(1,085,877

)

(1,079,720

)

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

BALANCE SHEET
30 APRIL 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 54,580 63,373

CURRENT ASSETS
Debtors 9 1,804,305 2,315,518
Cash at bank 501,004 432,371
2,305,309 2,747,889
CREDITORS
Amounts falling due within one year 10 2,307,352 2,594,224
NET CURRENT (LIABILITIES)/ASSETS (2,043 ) 153,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,537

217,038

CREDITORS
Amounts falling due after more than one
year

11

(250,000

)

(450,000

)

PROVISIONS FOR LIABILITIES 15 (9,212 ) -
NET LIABILITIES (206,675 ) (232,962 )

CAPITAL AND RESERVES
Called up share capital 16 10 10
Retained earnings 17 (206,685 ) (232,972 )
SHAREHOLDERS' FUNDS (206,675 ) (232,962 )

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





G E Aghoghovbia - Director


UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 10 846,748 846,758
Prior year adjustment - (1,112,164 ) (1,112,164 )
As restated 10 (265,416 ) (265,406 )

Changes in equity
Total comprehensive income - 1,144,608 1,144,608
Balance at 30 April 2023 10 879,192 879,202
Prior year adjustment - (1,112,164 ) (1,112,164 )
As restated 10 (232,972 ) (232,962 )

Changes in equity
Total comprehensive income - 26,287 26,287
Balance at 30 April 2024 10 (206,685 ) (206,675 )

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 21 392,479 1,132,290
Interest paid (130,261 ) (79,546 )
Tax paid (21,115 ) (55,211 )
Net cash from operating activities 241,103 997,533

Cash flows from investing activities
Purchase of tangible fixed assets (9,402 ) (23,312 )
Interest received 2,923 -
Net cash from investing activities (6,479 ) (23,312 )

Cash flows from financing activities
New loans in year - 650,000
Loan repayments in year (200,000 ) (1,038,360 )
Amount introduced by directors 45,153 -
Amount withdrawn by directors - (169,483 )
Net cash from financing activities (154,847 ) (557,843 )

Increase in cash and cash equivalents 79,777 416,378
Cash and cash equivalents at beginning
of year

22

261,933

(154,445

)

Cash and cash equivalents at end of
year

22

341,710

261,933

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Unique Personnel (U.K.) 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern
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 balance sheet as at 30 April 2024 shows a deficit in shareholders' funds.

The Company continues to meet its day to day working capital requirements through operating cashflows.

The Directors are confident that the Company will continue to deliver positive cash flows from trading that will be sufficient to meet working capital and financial obligations as they fall due.

Having considered all the relevant facts the directors consider it is appropriate to prepare the financial statements on a going concern basis.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

a) Critical judgements in applying the entity's accounting policies

There are no specific judgements, apart from those involving estimates as detailed below, that management has made in the process of applying the entity’s accounting policies that have a significant effect on the amounts recognised in the financial statements.

b) Critical accounting estimates and assumptions

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates can differ from the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Impairment of debtors

The Company makes an estimate of the recoverable value of trade and other debtors. When assessing their impairment, the management considers factors including the ageing profile of debtors and historical experience.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates and other sales credits.

Revenue from the provision of care home services is recognised when the services are rendered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are accounted for using the accruals basis.


UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


2. ACCOUNTING POLICIES - continued
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.

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.

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

3. EMPLOYEES AND DIRECTORS
2024 2023
as restated
£    £   
Wages and salaries 9,588,822 8,734,953
Social security costs 674,183 602,033
Other pension costs 156,808 133,233
10,419,813 9,470,219

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

Carers 504 480
Office staff 88 89
592 569

2024 2023
as restated
£    £   
Directors' remuneration 117,620 165,002

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
as restated
£    £   
Depreciation - owned assets 18,195 21,125
Auditors' remuneration 18,000 -

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
as restated
£    £   
Bank interest 72,154 79,546
HMRC interest 58,107 -
130,261 79,546

6. 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 12,921 8,619

Deferred tax 9,212 -
Tax on profit 22,133 8,619

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 48,420 41,063
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

12,105

7,802

Effects of:
Expenses not deductible for tax purposes 1,707 511
Depreciation in excess of capital allowances 1,915 306
Marginal relief (2,806 ) -
Deferred tax 9,212 -
Total tax charge 22,133 8,619

7. PRIOR YEAR ADJUSTMENT

The previous accountants were unable to verify certain closing balances at 30 April 2023 due to a lack of information available. These differences were transferred into a newly created reserve account named "Revaluation Reserve". Certain debtors and creditors balances were also incorrectly classified.

During the preparation of the current year accounts, the company has reassessed the nature of these balances and has determined that they were incorrectly recorded in the prior year. The comparative figures have been restated to correct these errors.

The changes are reflected in the table below:

202320232023
£'000000£'000000£'000000


Original
Prior year
adjustment

Restated
Bank loans and overdrafts(683,915)(136,523)(820,438)
Cash at bank261,933170,438432,371
Other debtors-71,90771,907
Directors' loan account-169,483169,483
Other creditors(546,776)(241,390)(788,166)
Retained earnings-1,112,1641,112,164
Revaluation reserve1,146,079(1,146,079)-

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 88,118 467,049 40,215 595,382
Additions 9,402 - - 9,402
At 30 April 2024 97,520 467,049 40,215 604,784
DEPRECIATION
At 1 May 2023 88,118 420,699 23,192 532,009
Charge for year 2,351 11,588 4,256 18,195
At 30 April 2024 90,469 432,287 27,448 550,204
NET BOOK VALUE
At 30 April 2024 7,051 34,762 12,767 54,580
At 30 April 2023 - 46,350 17,023 63,373

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 1,246,164 1,674,128
Other debtors 4,000 71,907
Directors' current accounts 124,330 169,483
Corporation tax recoverable 41,961 -
Prepayments and accrued income 387,850 400,000
1,804,305 2,315,518

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts (see note 12) 359,294 370,438
Trade creditors 121,209 73,920
Corporation tax 54,882 21,115
Social security and other taxes 1,136,626 1,321,309
Other creditors 607,741 788,166
Accrued expenses 27,600 19,276
2,307,352 2,594,224

The other creditors relate to April 2024 wages and pensions which were paid in the following month.

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans (see note 12) 250,000 450,000

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


12. LOANS

An analysis of the maturity of loans is given below:

2024 2023
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 159,294 170,438
Bank loans - less than 1 year 200,000 200,000
359,294 370,438

Amounts falling due between one and two years:
Bank loans 200,000 200,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 50,000 250,000

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£    £   
Within one year 112,200 112,200
Between one and five years 282,104 394,304
394,304 506,504

The above leases relate to company's office premises.

14. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank overdrafts 159,294 170,438
Bank loans 450,000 650,000
609,294 820,438

The bank loan is supported and secured by the UK Government's Bounce Back Loan Scheme (BBLS). Interest is charged at a fixed rate of 3.99% and the balance is repayable over a total of 60 months, with the first payment due 12 months after inception.

The bank overdraft is secured by fixed and floating charge over the assets of the company.

The director G E Aghoghovbia has given personal guarantee towards all liabilities of the borrower under the facility limited to £100,000.

15. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax
Accelerated capital allowances 9,212 -

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 9,212
Balance at 30 April 2024 9,212

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
10 Ordinary £1 10 10

17. RESERVES
Retained
earnings
£   

At 1 May 2023 879,192
Prior year adjustment (1,112,164 )
(232,972 )
Profit for the year 26,287
At 30 April 2024 (206,685 )

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
as restated
£    £   
G E Aghoghovbia
Balance outstanding at start of year 169,483 -
Amounts advanced - 169,483
Amounts repaid (45,153 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 124,330 169,483

The director's loan is interest free and repayable on demand.

19. RELATED PARTY DISCLOSURES

At the year end, unsecured loans were advanced to the close family of certain Directors, totalling £4,000 (2023: £71,907). These loans are interest free with no fixed terms for repayment.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G E Aghoghovbia.

UNIQUE PERSONNEL (U.K.) LIMITED (REGISTERED NUMBER: 04218958)

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


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

2024 2023
as restated
£    £   
Profit before taxation 48,420 41,063
Depreciation charges 18,195 21,125
Finance costs 130,261 79,546
Finance income (2,923 ) -
193,953 141,734
Decrease in trade and other debtors 508,021 242,387
(Decrease)/increase in trade and other creditors (309,495 ) 748,169
Cash generated from operations 392,479 1,132,290

22. 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 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 501,004 432,371
Bank overdrafts (159,294 ) (170,438 )
341,710 261,933
Year ended 30 April 2023
30.4.23 1.5.22
as restated
£    £   
Cash and cash equivalents 432,371 -
Bank overdrafts (170,438 ) (154,445 )
261,933 (154,445 )


23. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.5.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank 432,371 68,633 501,004
Bank overdrafts (170,438 ) 11,144 (159,294 )
261,933 79,777 341,710
Debt
Debts falling due
within 1 year (200,000 ) 200,000 (200,000 ) (200,000 )
Debts falling due
after 1 year (450,000 ) - 200,000 (250,000 )
(650,000 ) 200,000 - (450,000 )
Total (388,067 ) 279,777 - (108,290 )