| REGISTERED NUMBER: 13398528 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| FOR |
| HAMPTON'S PEOPLE GROUP LIMITED |
| REGISTERED NUMBER: 13398528 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| FOR |
| HAMPTON'S PEOPLE GROUP LIMITED |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 6 |
| Consolidated Income Statement | 9 |
| Consolidated Other Comprehensive Income | 10 |
| Consolidated Balance Sheet | 11 |
| Company Balance Sheet | 12 |
| Consolidated Statement of Changes in Equity | 13 |
| Company Statement of Changes in Equity | 14 |
| Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Cash Flow Statement | 16 |
| Notes to the Consolidated Financial Statements | 18 |
| HAMPTON'S PEOPLE GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Corner Oak |
| 1 Homer Road |
| Solihull |
| B91 3QG |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| The directors present their strategic report of the company and the group for the year ended 22 August 2024. |
| The directors present their strategic report for Hamptons People Group Limited ("the Group") for the year ended 2024. Hamptons People Group Limited serves as the parent company for its two principal subsidiaries, Hamptons Resourcing Limited and Step Into Teaching Limited. The Group's primary activity is the ownership of its business interests and management of its office property, which is rented to its subsidiaries. |
| Principal Activities |
| The principal activity of Hamptons People Group Limited is the ownership and administration of the Group's property assets. The Group generates rental income by leasing office space to its subsidiaries, Hamptons Resourcing Limited and Step Into Teaching Limited. |
| Hamptons Resourcing Limited provides recruitment services, while Step Into Teaching Limited focuses on education-related services and training. By managing the property and offering operational support, Hamptons People Group Limited ensures that its subsidiaries can focus on their core business activities. |
| Hamptons People Group (HPG), which wholly own Hamptons Resourcing (HR) and Step Into Teaching (SIT) offer specialist recruitment services within the social care and a leading graduate training model within the education sector. |
| The group is focused on both businesses developing as market leaders during the next 12 months and enhancing their reputations as ethical and trusted within their respective markets. |
| HR has ambitions to grow organically deeper into the markets it serves within the social care arena. This includes social care managers within the public sector and managers within the private sector for clients who serve the social care sector. We have invested heavily in management training in-house and offer our people the best software and systems available to do their jobs to the best of their abilities. |
| SIT has invested also in its staff and offers new managerial positions to organically grown staff who wish to enhance their careers with us even further. We have added new staff members and managed to support those currently in the business to develop new clients across the UK with our unique graduate teaching experience, which is now recognised as best in class. |
| Despite challenging conditions, HR has maintained its holding and top-line profits in line with expectations. |
| SIT has exceeded profit expectations and has grown substantially on it's top and bottom-line profits from last year. This is due to increased headcount and expansion into new geographical areas, as well as growth from existing staff members. |
| REVIEW OF BUSINESS AND FINANCIAL PERFORMANCE |
| HR turnover decreased from £17m to £13.967m due to the company restructuring its year end and decreasing from an 18-month year to a 12-month year, which falls in line with its sister company SIT, September to August. Therefore, gross profit was also reduced to £2,142,986 from £3,132,161. Operating profit fell in line with this restructuring to £352,467. |
| SIT saw turnover increase from £7,744,706 to £11,662,735 for the financial year. Gross profit increased as well to £3,152,596 from £2,485,880. Operating profit increased as well to £964,088 from £857,426. |
| After a challenging year for both companies HPG saw its net assets change to £1,278,271 from £2,055,580. With the alignment of the financial years next year should see net assets increase accordingly. |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| With fluctuation and market uncertainty the recruitment pipeline and hiring of top-level graduates and social care managers is our principal uncertainty. Local authorities are under more financial pressure to make savings. This will come from reducing staff numbers, but whilst remaining in the managerial space, our services will always be in demand. The education sector has faced a challenging year and schools catch up and pupil budgets have been squeezed. By offering a unique and UK wide service, SIT is placed to gain market share form education providers who place sporadic graduates in schools. |
| Credit Risk |
| We are exposed to limit risk from customers who are financed by central government budgets. Whilst some councils are entering into section 141 notices, we are confident that suppliers on frameworks such as HPG will remain paid on time. |
| Liquidity Risk |
| HPG finances its operation of factoring facility through NATWEST and its retained profits. This facility has been stress tested recently and has been approved for an increase in facilities if required, due to its lack of reliance on its services. |
| Price risk |
| We regularly review our pricing model across both companies and manage our candidate pay very carefully. Increased NI and national minimum wage are relevant to SIT and we have planned ahead to take into account. |
| Retention of staff |
| Both companies within the group have excellent staff retention. We are constantly upskilling' our employees and offering them sector leading salaries and incentives. Couple this with additional training and new technology systems we are confident our core employees will remain with the business as they have done. |
| FUTURE DEVELOPMENTS |
| HPG will continue to strengthen both companies within the group. SIT will invest in new headcount and marketing functions to improve our offering to schools and enable our attraction of top graduate talent into 2025/26. HR will continue to take market share from within the sector and look to diversify into markets that are similar to social care managerial roles within the public and private sectors. This will not stretch the current business model, and we will only do this where it enhances our service offering. We are well placed to grow both companies and see our position in the market enhanced during 2025/26. |
| ON BEHALF OF THE BOARD: |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| The directors present their report with the financial statements of the company and the group for the year ended 22 August 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the group in the year under review was that of a holding company. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 22 August 2024 will be £1,771,920 (2023: 849,010). |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 23 August 2023 to the date of this report. |
| PERIOD AMENDMENT |
| The period end was aligned in the previous year in order to have all group companies with the 22 August year end. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| AUDITORS |
| The auditors, Prime, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMPTON'S PEOPLE GROUP LIMITED |
| Opinion |
| We have audited the financial statements of Hampton's People Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 22 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 22 August 2024 and of the group's profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMPTON'S PEOPLE GROUP 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| The previous years accounts were not audited therefore this has been declared under ISA(UK) 710:14 |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Our 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 industry 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 and 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; |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| HAMPTON'S PEOPLE GROUP LIMITED |
| 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 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 and other relevant parties. |
| 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 prior periods financial statements were not audited |
| 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. |
| for and on behalf of |
| Chartered Accountants |
| Statutory Auditor |
| Corner Oak |
| 1 Homer Road |
| Solihull |
| B91 3QG |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONSOLIDATED INCOME STATEMENT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| Notes | £ | £ |
| TURNOVER | 3 | 25,629,975 | 27,294,542 |
| Cost of sales | 20,334,214 | 21,118,620 |
| GROSS PROFIT | 5,295,761 | 6,175,922 |
| Administrative expenses | 3,931,625 | 4,227,270 |
| 1,364,136 | 1,948,652 |
| Other operating income | 1,596 | 1,987 |
| OPERATING PROFIT | 5 | 1,365,732 | 1,950,639 |
| Interest receivable and similar income | 829 | - |
| 1,366,561 | 1,950,639 |
| Interest payable and similar expenses | 6 | 19,332 | 34,708 |
| PROFIT BEFORE TAXATION | 1,347,229 | 1,915,931 |
| Tax on profit | 7 | 352,618 | 422,547 |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 994,611 | 1,493,384 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONSOLIDATED OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 994,611 | 1,493,384 |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
994,611 |
1,493,384 |
| Total comprehensive income attributable to: |
| Owners of the parent | 994,611 | 1,493,384 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONSOLIDATED BALANCE SHEET |
| 22 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 | 1,226,645 | 1,252,913 |
| Investments | 11 | - | - |
| 1,226,645 | 1,252,913 |
| CURRENT ASSETS |
| Debtors | 12 | 2,865,800 | 2,547,053 |
| Cash at bank and in hand | 1,055,519 | 1,036,399 |
| 3,921,319 | 3,583,452 |
| CREDITORS |
| Amounts falling due within one year | 13 | 3,416,620 | 2,269,369 |
| NET CURRENT ASSETS | 504,699 | 1,314,083 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
1,731,344 |
2,566,996 |
| CREDITORS |
| Amounts falling due after more than one year |
14 |
(422,269 |
) |
(480,282 |
) |
| PROVISIONS FOR LIABILITIES | 16 | (30,804 | ) | (31,134 | ) |
| NET ASSETS | 1,278,271 | 2,055,580 |
| CAPITAL AND RESERVES |
| Called up share capital | 17 | 1,102 | 1,102 |
| Merger Account | 18 | 1,205,531 | 1,205,531 |
| Retained earnings | 18 | 71,638 | 848,947 |
| SHAREHOLDERS' FUNDS | 1,278,271 | 2,055,580 |
| The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by: |
| S J Ray - Director |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| COMPANY BALANCE SHEET |
| 22 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 |
| Investments | 11 |
| CURRENT ASSETS |
| Debtors | 12 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 13 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
14 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 17 |
| Retained earnings | 18 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 1,392,877 | 1,334,059 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Called up |
| share | Retained | Merger | Total |
| capital | earnings | Account | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2022 | 1,102 | 204,573 | 1,205,531 | 1,411,206 |
| Changes in equity |
| Dividends | - | (849,010 | ) | - | (849,010 | ) |
| Total comprehensive income | - | 1,493,384 | - | 1,493,384 |
| Balance at 22 August 2023 | 1,102 | 848,947 | 1,205,531 | 2,055,580 |
| Changes in equity |
| Dividends | - | (1,771,920 | ) | - | (1,771,920 | ) |
| Total comprehensive income | - | 994,611 | - | 994,611 |
| Balance at 22 August 2024 | 1,102 | 71,638 | 1,205,531 | 1,278,271 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2022 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 22 August 2023 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 22 August 2024 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 2,505,961 | 2,435,865 |
| Interest paid | (19,332 | ) | (34,708 | ) |
| Tax paid | (573,461 | ) | (234,229 | ) |
| Net cash from operating activities | 1,913,168 | 2,166,928 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (28,347 | ) | (1,292,412 | ) |
| Interest received | 829 | - |
| Net cash from investing activities | (27,518 | ) | (1,292,412 | ) |
| Cash flows from financing activities |
| New loans in year | - | 600,000 |
| Loan repayments in year | (55,904 | ) | (62,172 | ) |
| Amount withdrawn by directors | (38,706 | ) | 10,294 |
| Equity dividends paid | (1,771,920 | ) | (849,010 | ) |
| Net cash from financing activities | (1,866,530 | ) | (300,888 | ) |
| Increase in cash and cash equivalents | 19,120 | 573,628 |
| Cash and cash equivalents at beginning of year |
2 |
1,036,399 |
462,771 |
| Cash and cash equivalents at end of year |
2 |
1,055,519 |
1,036,399 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Profit before taxation | 1,347,229 | 1,915,931 |
| Depreciation charges | 54,613 | 83,392 |
| Government grants | (1,596 | ) | (1,987 | ) |
| Finance costs | 19,332 | 34,708 |
| Finance income | (829 | ) | - |
| 1,418,749 | 2,032,044 |
| Increase in trade and other debtors | (318,348 | ) | (326,896 | ) |
| Increase in trade and other creditors | 1,405,560 | 730,717 |
| Cash generated from operations | 2,505,961 | 2,435,865 |
| 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 22 August 2024 |
| 22.8.24 | 23.8.23 |
| £ | £ |
| Cash and cash equivalents | 1,055,519 | 1,036,399 |
| Period ended 22 August 2023 |
| 22.8.23 | 1.4.22 |
| £ | £ |
| Cash and cash equivalents | 1,036,399 | 462,771 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 23.8.23 | Cash flow | At 22.8.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 1,036,399 | 19,120 | 1,055,519 |
| 1,036,399 | 19,120 | 1,055,519 |
| Debt |
| Debts falling due within 1 year | (52,653 | ) | (2,107 | ) | (54,760 | ) |
| Debts falling due after 1 year | (480,282 | ) | 58,013 | (422,269 | ) |
| (532,935 | ) | 55,906 | (477,029 | ) |
| Total | 503,464 | 75,026 | 578,490 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Hampton's People Group Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Freehold property | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by geographical market is given below: |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| United Kingdom | 25,629,975 | 27,294,542 |
| 25,629,975 | 27,294,542 |
| 4. | EMPLOYEES AND DIRECTORS |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Wages and salaries | 2,649,711 | 2,527,584 |
| Social security costs | 265,893 | 632,839 |
| Other pension costs | 34,996 | 86,077 |
| 2,950,600 | 3,246,500 |
| The average number of employees during the year was as follows: |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| Candidate | 546 | 392 |
| Office Staff | 57 | 41 |
| The average number of employees by undertakings that were proportionately consolidated during the year was 603 (2023 - 444 ) . |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Directors' remuneration | 18,441 | 24,212 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Other operating leases | 38,247 | 24,771 |
| Depreciation - owned assets | 54,615 | 83,390 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Bank loan interest | 16,755 | 34,708 |
| Corporation tax interest | 2,577 | - |
| 19,332 | 34,708 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Current tax: |
| UK corporation tax | 352,948 | 399,500 |
| Deferred tax | (330 | ) | 23,047 |
| Tax on profit | 352,618 | 422,547 |
| UK corporation tax has been charged at 25 % . |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 7. | TAXATION - continued |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Profit before tax | 1,347,229 | 1,915,931 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) |
336,807 |
478,983 |
| Effects of: |
| Expenses not deductible for tax purposes | 23,228 | 30,550 |
| Capital allowances in excess of depreciation | (7,087 | ) | (32,688 | ) |
| Adjustment due to change in tax rate during the period | - | (77,345 | ) |
| Deferred tax movement | (330 | ) | 23,047 |
| Total tax charge | 352,618 | 422,547 |
| 8. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 9. | DIVIDENDS |
| Period |
| 1.4.22 |
| Year ended | to |
| 22.8.24 | 22.8.23 |
| £ | £ |
| Ordinary C share of £1 |
| Interim | 850,000 | 250,000 |
| Ordinary D share of £1 |
| Interim | 850,000 | 200,000 |
| Ordinary E shares of £1 each |
| Interim | 35,460 | 174,505 |
| Ordinary F shares of £1 each |
| Interim | 36,460 | 224,505 |
| 1,771,920 | 849,010 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 10. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements | Fixtures |
| Freehold | to | and | Computer |
| property | property | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 23 August 2023 | 1,160,247 | 4,870 | 134,282 | 91,448 | 1,390,847 |
| Additions | - | - | 10,866 | 17,481 | 28,347 |
| At 22 August 2024 | 1,160,247 | 4,870 | 145,148 | 108,929 | 1,419,194 |
| DEPRECIATION |
| At 23 August 2023 | 32,826 | 3,915 | 31,616 | 69,577 | 137,934 |
| Charge for year | 24,765 | 183 | 15,563 | 14,104 | 54,615 |
| At 22 August 2024 | 57,591 | 4,098 | 47,179 | 83,681 | 192,549 |
| NET BOOK VALUE |
| At 22 August 2024 | 1,102,656 | 772 | 97,969 | 25,248 | 1,226,645 |
| At 22 August 2023 | 1,127,421 | 955 | 102,666 | 21,871 | 1,252,913 |
| Company |
| Freehold |
| property |
| £ |
| COST |
| At 23 August 2023 |
| and 22 August 2024 |
| DEPRECIATION |
| At 23 August 2023 |
| Charge for year |
| At 22 August 2024 |
| NET BOOK VALUE |
| At 22 August 2024 |
| At 22 August 2023 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 11. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 23 August 2023 |
| and 22 August 2024 |
| NET BOOK VALUE |
| At 22 August 2024 |
| At 22 August 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: Corner Oak, 1 Homer Road, Solihull, B91 3QG |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Corner Oak, 1 Homer Road, Solihull, West Midlands, United Kingdom, B91 3QG |
| Nature of business: |
| % |
| Class of shares: | holding |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade debtors | 2,734,842 | 2,504,432 |
| Amounts owed by group undertakings | - | - |
| Other debtors | 64,499 | 738 |
| Tax | 397 | - |
| Prepayments and accrued income | 66,062 | 41,883 |
| 2,865,800 | 2,547,053 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 15) | 54,760 | 52,653 |
| Trade creditors | 429,486 | 287,526 |
| Amounts owed to group undertakings | - | - |
| Tax | 126,682 | 346,798 |
| Social security and other taxes | - | 113,554 |
| VAT | 555,344 | 474,846 | 4,851 | 4,359 |
| Other creditors | 1,750,820 | 769,000 |
| Directors' current accounts | 798 | 39,504 | - | - |
| Accrued expenses | 498,730 | 185,488 |
| 3,416,620 | 2,269,369 |
| 14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans (see note 15) | 422,269 | 480,282 |
| 15. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Amounts falling due within one year or | on demand: |
| Bank loans | 54,760 | 52,653 |
| Amounts falling due between two and | five years: |
| Bank loans - 2-5 years | 177,787 | 170,945 |
| Amounts falling due in more than five | years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 244,482 | 309,337 | 244,482 | 309,337 |
| 16. | PROVISIONS FOR LIABILITIES |
| Group |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 30,804 | 31,134 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 16. | PROVISIONS FOR LIABILITIES - continued |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 23 August 2023 | 31,134 |
| Provided during year | (330 | ) |
| Balance at 22 August 2024 | 30,804 |
| 17. | CALLED UP SHARE CAPITAL |
| Allocated and issues shares |
| Number | Class | Nominal | 2024 | 2023 |
| 250 | Ordinary A | £1 | 250 | 250 |
| 250 | Ordinary B | £1 | 250 | 250 |
| 1 | Ordinary C | £1 | 1 | 1 |
| 1 | Ordinary D | £1 | 1 | 1 |
| 300 | Ordinary E | £1 | 300 | 300 |
| 300 | Ordinary F | £1 | 300 | 300 |
| Total | 1102 | 1102 |
| Each £1 ordinary share carries the same rights however they have the ability to declare different dividends for each class of share. |
| 18. | RESERVES |
| Group |
| Retained | Merger |
| earnings | Account | Totals |
| £ | £ | £ |
| At 23 August 2023 | 848,947 | 1,205,531 | 2,054,478 |
| Profit for the year | 994,611 | 994,611 |
| Dividends | (1,771,920 | ) | (1,771,920 | ) |
| At 22 August 2024 | 71,638 | 1,205,531 | 1,277,169 |
| Company |
| Retained |
| earnings |
| £ |
| At 23 August 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 22 August 2024 |
| HAMPTON'S PEOPLE GROUP LIMITED (REGISTERED NUMBER: 13398528) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 22 AUGUST 2024 |
| 19. | RELATED PARTY DISCLOSURES |
| During the year, a creditor balance of £499,999 (2023: £1) for both Oray Investments and McPhee Investments, both of which the directors the directors hold an interest was outstanding at the year end. |
| 20. | ULTIMATE CONTROLLING PARTY |
| There is no ultimate controlling party due to the virtue of the shareholding in the company. |