Company Registered. Number: 04282143

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketsmart Limited

 

Start Date: 01 October 2023

 

End Date: 30 September 2024

DIRECTORS' REPORT

For the Year Ended 30 September 2024

 

1.     Principal Activity

The principal activity of the company during the year continued to be the provision of recruitment and employment services to the construction, warehousing and logistics sectors.

 

2.     Business Review

The company has performed well and, despite a reduction in turnover, has maintained good profitability. In a tough year for the construction sector, marked by unpredictable market conditions, the company has successfully retained its client base and substantially grown its candidate database.

 

Strategic focus has now turned to further developing and utilising artificial intelligence (AI) and technology solutions to streamline internal processes, enhance efficiency, and reduce operating costs.

 

Organic growth continues with new satellite offices launched in Plymouth, Exeter, Bristol, and Birmingham, all supported by the Head Office in Newton Abbot. The business outlook remains positive, particularly as the construction sector is expected to return to growth in line with the economic cycle. The UK government's emphasis on infrastructure and housebuilding over the next five years is expected to significantly boost demand for employment services, supporting the company's continued expansion and success in the short, medium, and long term.

 

3.     Results and Dividends

The profit for the financial year after taxation was £150,790.75 and dividends of £72,000 were paid.

 

4.     Directors

The directors who held office during the year and up to the date of this report were:

 

Manny Hussain

 

Paul Donnelly

 

5.     Future Developments

The directors will continue to monitor market conditions and develop technological infrastructure to ensure long-term competitiveness and profitability. Future investment is planned in recruitment software, AI-driven screening systems, and regional expansion.

 

Approved by the Board and signed on its behalf by:

 

 

 

 

Manny Hussain

Director

 

Date: 23 June 2025

Marketsmart Limited - Company Reg. No. 04282143

P & L FY 01 Oct 2023 to 30 Sep 2024

 

 

£

 

 

Revenue

5,451,179.88

Cost Of Sales

3,953,880.53

 

 

Gross Profit

1,497,299.36

 

 

Other Operating Income

34,680.35

 

 

Operating Expenses

 

Accounting & Bookkeeping

5,430.57

Advertising

28,634.95

Cleaning

1,162.69

Depreciation

15,108.90

Entertainment

1,575.84

Insurance - Buildings & Commercial

11,578.26

Insurance - Motor Vehicle

5,492.73

Interest & Other Finance Charges

6,051.38

Legal, Regulatory & Professional fees

21,474.23

Light and heat

11,355.68

Motoring & Vehicle Costs

30,132.74

Online & Web Based Services

20,830.39

Internal Payroll, PAYE, NI & Pensions

1,045,194.06

Postage, Courier and delivery charges

2,283.49

Printing & Stationery

1,497.35

Promotions - Client

183.92

Promotions - Staff

9,919.34

Recruitment Fees

3,125.00

Repairs & Maintenance

16,681.75

Staff Uniforms

235.44

Stationery & Office

12,257.26

Subscriptions

89.88

Sundry expenses

8,754.86

Telecoms Costs

18,944.89

Temporary Office Rent

752.19

Training & Development

41,606.06

Travelling expenses

6,226.52

Waste Disposal

1,265.58

Websites & Software Development

3,510.00

 

 

Total Expenses

1,331,355.95

 

 

Operating Profit/(Loss)

200,623.75

 

 

Tax Adjusted Profit

202,200.00

 

 

Corporation Tax

49,833.00

 

 

Profit/(Loss)

150,790.75

Marketsmart Limited - Company Reg. No. 04282143

 

Balance Sheet FY Ending 30 September 2024

 

 

£

 

 

ASSETS

 

Fixed Assets

 

Property

558,405.00

Fixtures & Fittings

15,656.18

Computer & Equipment

63,452.07

Depreciation

15,108.90

 

 

Total

622,404.35

 

 

Current Assets

 

Trade Debtors/Receivables

627,539.50

Bank & Cash (30/9/2024)

556,521.92

 

 

Total

1,184,061.42

 

 

Total Assets

1,806,465.77

 

 

LIABILITIES

 

Current Liabilities

 

Creditors: Short Term

630,069.16

 

 

Total

630,069.16

 

 

Current Assets Less Current Liabilities:

553,992.26

 

 

Total Assets Less Current Liabilities:

1,176,396.61

 

 

Long Term Liabilities

 

Finance/Loans

45,385.23

 

 

Total

45,385.23

 

 

Total Current & Long Term Liabilities

675,454.39

 

 

Total Assets Less Total Liabilities:

1,131,011.38

 

 

Capital & Reserves

 

Share Capital

2.00

P & L (For Year) (Adjustedfor CT) Before Tax

202,200.00

Corporation Tax

49,833.00

Dividends Paid

72,000.00

Retained Earnings (for year)

80,367.00

Retained Earnings (cumulative)

1,131,009.38

 

 

Shareholders' Funds

1,131,011.38

Marketsmart Limited - Company Reg. No. 04282143

 

Balance Sheet FY Ending 30 September 2024

 

 

Notes:

 

1.

For the year ended 30th September 2024 the company was entitled to exemption under section 477 of the companies Act 2006 relating to small companies.

 

 

2.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

 

 

3.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

 

4.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

 

 

 

 

MANNY HUSSAIN

Managing Director

 

Approved by the Board on 16 June 2024

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 30 September 2024

 

1.     Accounting Policies

Basis of preparation:

The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A and the Companies Act 2006.

 

Turnover:

Turnover represents the total invoice value (excluding VAT) of services provided during the year.

 

Tangible fixed assets:

Depreciation is provided to write off the cost of tangible fixed assets over their expected useful lives:

 

Fixtures & Fittings - 20% Reducing balance

Equipment - 20% Straight line

Buildings - No depreciation charged as the directors believe the value of the buildings has appreciated and is in excess of book value. The carrying amount is considered to be supported by market value.

 

Going Concern:

The directors have considered the financial position of the company and are satisfied that it remains a going concern.

true

 

Taxation:

Tax is provided on taxable profits at the applicable UK corporation tax rate.

 

2.     Employees

The average monthly number of employees during the year (including directors) was 107 including 27 Internal Administrative and Account Management staff and including 80 employed Agency Workers.

 

A further 108 self-employed sub-contracting Agency Workers on average were utilised monthly and are not included as employees.

 

3.     Tangible Fixed Assets

 

 

Land/Buildings

Fixtures & Fittings

Equipment

Total

01/10/2022

410,000

10,924

31,137

452,061

Additions

34,488

3,895

26,025

64,408

01/10/2023

444,488

14,819

57,162

516,469

Additions

113,918

837

6,290

121,044

30/09/2024

558,406

15,656

63,452

637,513

 

Depreciation policies applied are as described in Note 1.

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 30 September 2024

 

4.     Debtors

Amounts falling due within one year:

- Trade debtors: £627,539.59

 

5.     Creditors

Amounts falling due within one year:

- Trade creditors: £98,221

- Taxation and social security: £531,848

 

6.     Share Capital

The company is a private limited company. The total issued share capital as at 30 September 2024 is: - Ordinary shares of £1 each: 2

- Total: £2