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REGISTERED NUMBER: 06421894 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TRADELINE RECRUITMENT LTD

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Statement of Directors' Responsibilities 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


TRADELINE RECRUITMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Hill
S Eade





REGISTERED OFFICE: 230 - 231 Bedford Heights
Manton Lane
Bedford
Bedfordshire
MK41 7PH





REGISTERED NUMBER: 06421894 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The principle activity continues to be that of a recruitment agency.

Tradeline Recruitment Limited achieved sales of £29,454,869 (2023 : £31,151,931) and delivered profit before tax of £998,960 (2023 : £676,080)

The net assets in Tradeline Recruitment Limited at the year end were £481,789 (2023 : £645,517).

PRINCIPAL RISKS AND UNCERTAINTIES
Downturns in economic environment have historically been the biggest threat to the service and construction sectors. The company is exposed to changes in Government Policy in the market in which we operate such as changes in employment law, tax law and in the legislation around sensitive data management.

All of these risks are closely monitored and under constant review in order to mitigate any risks, with outcomes such as adjusting of headcount during a period of economic uncertainty.

FINANCIAL RISKS
The business is exposed to a variety of financial risks including the effects of changes in interest rates, credit risk and client liquidity risk. The business' principal financial instrument comprise cash and bank deposits, that arise directly from its operations.

The company's principal financial assets are trade debtors, which represent the Company's major exposure to credit risk in relation to its financial assets. Reporting in this area covers weekly aged debt for every client as well as overall ledger profiles from the invoicing date taking into account any pre agreed payment terms.

The risk is mitigated through our invoice discounting facility with Barclay's which provides credit insurance ensuring all clients are insured against any potential default on their debt.

The business has no significant concentration of credit risk, with the exposure spread over a large number of customers. The risk is further mitigated with a strong credit control system with the aim of minimizing any bad debt.

ON BEHALF OF THE BOARD:





P Hill - Director


24 April 2025

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of recruitment agency.

DIVIDENDS
No interim dividends were paid during the year on any of the shares.

The directors recommend a final dividend per share as follows:
Ordinary 10p - £91.63
Ordinary E 1p - £1.08

The total distribution of dividends for the year ended 31 December 2024 will be £ 907,497 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

P Hill
S Eade

POLITICAL DONATIONS AND EXPENDITURE
Company has given donations of £7,387 for charity golf days and sponsorship.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Ad Valorem Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Hill - Director


24 April 2025

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024


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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRADELINE RECRUITMENT LTD


Opinion
We have audited the financial statements of Tradeline Recruitment Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 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, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRADELINE RECRUITMENT LTD


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 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of 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 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.

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:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRADELINE RECRUITMENT LTD


The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:
- Employment legislation, reflecting the Company's workforce
- Health and safety regulation, reflecting the Company's production, distribution and operating processes
- Data privacy, reflecting the Company's management of personal and corporate data
- Environmental regulation, reflecting environmental impact restrictions, waste and contamination related to the Company's distribution and operating processes.

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.




Zubair Arshad FCCA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

25 April 2025

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £

TURNOVER 29,454,869 31,151,931

Cost of sales 25,571,755 27,318,701
GROSS PROFIT 3,883,114 3,833,230

Administrative expenses 2,545,284 2,803,916
OPERATING PROFIT 4 1,337,830 1,029,314


Interest payable and similar expenses 5 338,870 353,234
PROFIT BEFORE TAXATION 998,960 676,080

Tax on profit 6 255,191 164,088
PROFIT FOR THE FINANCIAL YEAR 743,769 511,992

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £

PROFIT FOR THE YEAR 743,769 511,992


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

743,769

511,992

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 8 20,181 10,771

CURRENT ASSETS
Debtors 9 5,150,000 4,978,947
Cash at bank 69,765 32,819
5,219,765 5,011,766
CREDITORS
Amounts falling due within one year 10 4,758,157 4,377,020
NET CURRENT ASSETS 461,608 634,746
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,789

645,517

CAPITAL AND RESERVES
Called up share capital 13 4,949 4,949
Share premium 14 1,784 1,784
Retained earnings 14 475,056 638,784
SHAREHOLDERS' FUNDS 481,789 645,517

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





P Hill - Director


TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Share Total
capital earnings premium equity
£ £ £ £
Balance at 1 January 2023 4,949 881,177 1,784 887,910

Changes in equity
Dividends - (754,385 ) - (754,385 )
Total comprehensive income - 511,992 - 511,992
Balance at 31 December 2023 4,949 638,784 1,784 645,517

Changes in equity
Dividends - (907,497 ) - (907,497 )
Total comprehensive income - 743,769 - 743,769
Balance at 31 December 2024 4,949 475,056 1,784 481,789

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,071,530 1,931,444
Interest paid - (5,175 )
Finance costs paid (338,870 ) (348,059 )
Tax paid (164,088 ) (179,896 )
Net cash from operating activities 568,572 1,398,314

Cash flows from investing activities
Purchase of tangible fixed assets (15,619 ) (1,746 )
Net cash from investing activities (15,619 ) (1,746 )

Cash flows from financing activities
Loan repayments in year - (133,333 )
Amount introduced by directors 208,196 -
Amount withdrawn by directors - (78,523 )
Equity dividends paid (907,497 ) (754,385 )
Net cash from financing activities (699,301 ) (966,241 )

(Decrease)/increase in cash and cash equivalents (146,348 ) 430,327
Cash and cash equivalents at
beginning of year

2

(3,496,503

)

(3,926,830

)

Cash and cash equivalents at end of
year

2

(3,642,851

)

(3,496,503

)

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024


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

2024 2023
£ £
Profit before taxation 998,960 676,080
Depreciation charges 6,209 5,564
Finance costs 338,870 353,234
1,344,039 1,034,878
(Increase)/decrease in trade and other debtors (372,745 ) 912,354
Increase/(decrease) in trade and other creditors 100,236 (15,788 )
Cash generated from operations 1,071,530 1,931,444

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 31 December 2024
31/12/24 1/1/24
£ £
Cash and cash equivalents 69,765 32,819
Bank overdrafts (3,712,616 ) (3,529,322 )
(3,642,851 ) (3,496,503 )
Year ended 31 December 2023
31/12/23 1/1/23
£ £
Cash and cash equivalents 32,819 30,946
Bank overdrafts (3,529,322 ) (3,957,776 )
(3,496,503 ) (3,926,830 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/24 Cash flow At 31/12/24
£ £ £
Net cash
Cash at bank 32,819 36,946 69,765
Bank overdrafts (3,529,322 ) (183,294 ) (3,712,616 )
(3,496,503 ) (146,348 ) (3,642,851 )
Total (3,496,503 ) (146,348 ) (3,642,851 )

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Tradeline Recruitment Ltd 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
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.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

GOING CONCERN
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 1,879,267 1,888,674
Social security costs 188,371 226,960
Other pension costs 30,441 48,406
2,098,079 2,164,040

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

Admin 15 14
Sales 22 22
37 36

2024 2023
£ £
Directors' remuneration 18,192 18,192

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£ £
Hire of plant and machinery 1,879 3,189
Other operating leases 171,258 162,000
Depreciation - owned assets 6,209 5,564

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Bank loan interest - 5,175
Factoring charges 338,870 348,059
338,870 353,234

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 255,191 164,088
Tax on profit 255,191 164,088

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
£ £
Profit before tax 998,960 676,080
Profit multiplied by the standard rate of corporation tax in the UK of
23.370% (2023 - 23.520%)

233,457

159,014

Effects of:
Expenses not deductible for tax purposes 16,531 5,485
Capital allowances in excess of depreciation - (411 )
Depreciation in excess of capital allowances 5,203 -

Total tax charge 255,191 164,088

7. DIVIDENDS
2024 2023
£ £
Ordinary shares of 10p each
Interim 907,497 754,385

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 January 2024 42,253 26,248 34,702 103,203
Additions - 15,619 - 15,619
At 31 December 2024 42,253 41,867 34,702 118,822
DEPRECIATION
At 1 January 2024 41,740 26,248 24,444 92,432
Charge for year 228 326 5,655 6,209
At 31 December 2024 41,968 26,574 30,099 98,641
NET BOOK VALUE
At 31 December 2024 285 15,293 4,603 20,181
At 31 December 2023 513 - 10,258 10,771

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 5,051,077 4,742,483
Other debtors 16,685 16,685
Amounts due from related party - 536
Directors' current accounts 2,835 204,527
Prepayments and Accrued Income 79,403 14,716
5,150,000 4,978,947

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 11) 3,712,616 3,529,322
Trade creditors 57,788 28,532
Tax 255,191 164,088
Social security and other taxes 69,412 57,672
VAT 276,001 244,057
Other creditors 234,862 221,333
Directors' current accounts 6,504 -
Accrued expenses 145,783 132,016
4,758,157 4,377,020

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 3,712,616 3,529,322

Company has invoice discounting facility with barclays. This is secured facility and has fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 48,216 48,216
Between one and five years 80,503 39,451
128,719 87,667

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
4,050 Ordinary 10p 405 405
450,000 Ordinary E 1p 4,500 4,500
89 Ordinary A 10p 9 9
134 Ordinary B 10p 13 13
89 Ordinary C 10p 9 9
89 Ordinary D 10p 9 9
44 Ordinary F 10p 4 4
4,949 4,949

14. RESERVES
Retained Share
earnings premium Totals
£ £ £

At 1 January 2024 638,784 1,784 640,568
Profit for the year 743,769 743,769
Dividends (907,497 ) (907,497 )
At 31 December 2024 475,056 1,784 476,840

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£ £
S Eade
Balance outstanding at start of year 107,009 66,711
Amounts advanced 295,825 340,298
Amounts repaid (400,000 ) (300,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,834 107,009

P Hill
Balance outstanding at start of year 97,518 59,293
Amounts advanced 295,979 338,225
Amounts repaid (400,000 ) (300,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,503 ) 97,518

The loan is interest free and repayable on demand.

TRADELINE RECRUITMENT LTD (REGISTERED NUMBER: 06421894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


16. SHARE-BASED PAYMENT TRANSACTIONS

There was an enterprise management incentive scheme and an unapproved share option scheme introduced in the year ended 31 December 2021. This is an equity settled share based payment and as such the fair value of the shares has been calculated at £4.11 at grant date and this has been agreed with HMRC.

The company has s share option scheme for stakeholder. The option are settled in equity once exercised. The scheme allows for the exercise of options subject to certain criteria, being an 'event' ans subject to certain lengths of time.


Number of share
options

Weighted average
exercise price



31.12.24

31.12.23

31.12.
24

31.12.23

NumberNumber££

Outstanding at 01 January
2023

445

445


4.11

4.11


Granted (EMI Scheme) - -4.114.11

Granted (Unapproved) - - - -

Option Scheme - - - -
4454454.114.11

Exercisable at 31 December
2024

445

445


4.11

4.11


The options outstanding at 31 December 2023 had an exercise price of £4.11 and remaining contractual lives of between nine and ten years.