Company Registered. Number:
Marketsmart Limited
Start Date: 01 October 2023
End Date: 30 September 2024
DIRECTORS' REPORT
For the Year Ended 30 September 2024
1. Principal Activity
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
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:
Marketsmart Limited - Company Reg. No. 04282143
P & L FY 01 Oct 2023 to 30 Sep 2024
| £ |
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Revenue | |
Cost Of Sales | |
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Gross Profit | |
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Other Operating Income | |
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Operating Expenses |
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Accounting & Bookkeeping | |
Advertising | |
Cleaning | |
Depreciation | |
Entertainment | |
Insurance - Buildings & Commercial | |
Insurance - Motor Vehicle | |
Interest & Other Finance Charges | |
Legal, Regulatory & Professional fees | |
Light and heat | |
Motoring & Vehicle Costs | |
Online & Web Based Services | |
Internal Payroll, PAYE, NI & Pensions | |
Postage, Courier and delivery charges | |
Printing & Stationery | |
Promotions - Client | |
Promotions - Staff | |
Recruitment Fees | |
Repairs & Maintenance | |
Staff Uniforms | |
Stationery & Office | |
Subscriptions | |
Sundry expenses | |
Telecoms Costs | |
Temporary Office Rent | |
Training & Development | |
Travelling expenses | |
Waste Disposal | |
Websites & Software Development | |
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Total Expenses | |
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Operating Profit/(Loss) | |
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Tax Adjusted Profit | |
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Corporation Tax | |
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Profit/(Loss) |
Marketsmart Limited - Company Reg. No. 04282143
Balance Sheet FY Ending 30 September 2024
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ASSETS |
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Fixed Assets |
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Property | |
Fixtures & Fittings | |
Computer & Equipment | |
Depreciation | |
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Total | |
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Current Assets |
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Trade Debtors/Receivables | |
Bank & Cash (30/9/2024) | |
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Total | |
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Total Assets | |
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LIABILITIES |
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Current Liabilities |
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Creditors: Short Term | |
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Total | |
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Current Assets Less Current Liabilities: | |
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Total Assets Less Current Liabilities: | 1,176,396.61 |
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Long Term Liabilities |
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Finance/Loans | |
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Total | |
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Total Current & Long Term Liabilities | |
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Total Assets Less Total Liabilities: | |
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Capital & Reserves |
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Share Capital | |
P & L (For Year) (Adjustedfor CT) Before Tax | |
Corporation Tax | |
Dividends Paid | |
Retained Earnings (for year) | |
Retained Earnings (cumulative) | |
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Shareholders' Funds |
Marketsmart Limited - Company Reg. No. 04282143
Balance Sheet FY Ending 30 September 2024
Notes:
1. | |
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2. | |
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3. | |
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4. |
Managing Director
Approved by the
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 September 2024
1. Accounting Policies
Basis of preparation:
Turnover:
Turnover represents the total invoice value (excluding VAT) of services provided during the year.
Tangible fixed assets:
Fixtures & Fittings -
Equipment -
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.
Taxation:
2. Employees
The average monthly number of employees during the year (including directors) was
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 | ||||
Additions | ||||
01/10/2023 | ||||
Additions | ||||
30/09/2024 |
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: £
5. Creditors
Amounts falling due within one year:
- Trade creditors: £
- Taxation and social security: £
6. Share Capital
The company is a private limited company. The total issued share capital as at 30 September 2024 is: -
- Total: £