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Registered number: 03869014









TOTAL ASSIST RECRUITMENT LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
COMPANY INFORMATION


Directors
J Rich 
G Finn 
J Smith 
J Sergeant 
A Browne 




Registered number
03869014



Registered office
101 New Cavendish Street
1st Floor South

London

United Kingdom

W1W 6XH




Trading Address
Blackburn House
22-26 Eastern Road

Romford

RM1 3PJ






Independent auditors
Harris & Trotter LLP
Chartered Accountants & Statutory Auditors

101 New Cavendish Street

1st Floor South

London

United Kingdom

W1W 6XH





 
TOTAL ASSIST RECRUITMENT LIMITED
 

CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Statement of Comprehensive Income
9
Statement of Financial Position
10 - 11
Statement of Changes in Equity
12
Notes to the Financial Statements
13 - 25

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

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

Business review
 
We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.
The directors are pleased to report another profitable year for the company. The Company is continuing to focus on our costs base which puts the business in a strong position to see improved growth in its Gross Profit and bottom line profitability. The company's financial position at the year end remains strong with net assets of £215,640 (2023: £1,277,590).

Financial key performance indicators
 
The company uses KPI's to measure performance throughout the business. The overarching KPI's are reviewed
monthly and are considered to be:
 
                                           2024               2023               2022               2021               2020
                                               £              £            £                   £             £
Turnover                    15,759,842       21,991,750       25,242,538     22,008,149      21,462,318
Gross Profit                      3,615,026        5,263,438         5,894,038      5,417,841        5,321,649
Profit before taxation          (429,609)           325,897        1,013,788       2,768,183          825,361
Shareholder’s Funds            215,640        1,277,590         2,431,293      2,422,421           827,597


Principal risks and uncertainties
 
The Company's principal financial instruments comprise bank balances, trade creditors, trade debtors and loans to the Company. The main purpose of these instruments is to finance the company's operations.
Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of an invoice discounting facility. The company makes use of money market facilities when funds are available.
In respect of loans, these comprise interest free loans from group companies. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments. 
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Page 1

 
TOTAL ASSIST RECRUITMENT LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024


This report was approved by the board and signed on its behalf.



J Rich
Director

Date: 31 July 2025
Page 2

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Directors

The directors who served during the year were:

J Rich 
G Finn 
J Smith 
J Sergeant 
A Browne 

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Principal activity

The principal activity of the company continued to be that of of the recruitment and placement of staff in the medical sector.

Results and dividends

The loss for the year, after taxation, amounted to £385,798 (2023 - profit £282,086).

No dividends were paid during the current year.

Page 3

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsHarris & Trotter LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





J Rich
Director

Date: 31 July 2025
Page 4

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL ASSIST RECRUITMENT LIMITED
 

Opinion


We have audited the financial statements of Total Assist Recruitment Limited (the 'Company') for the year ended 30 November 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 30 November 2024 and of its loss 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 United Kingdom, including the Financial Reporting Council'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.


Page 5

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL ASSIST RECRUITMENT LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 3, 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 is 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.


Page 6

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL ASSIST RECRUITMENT LIMITED (CONTINUED)


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 an Auditors' Report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
  
 • We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006.
 • We obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates.
• We did not identify any key audit matters relating to irregularities, including fraud.
 


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 Auditors' Report.
Page 7

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL ASSIST RECRUITMENT LIMITED (CONTINUED)


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 2006Our 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 an Auditors' Report 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.





Daniel Walters (Senior Statutory Auditor)
  
for and on behalf of
Harris & Trotter LLP
 
Chartered Accountants
Statutory Auditors
  
101 New Cavendish Street
1st Floor South
London
United Kingdom
W1W 6XH

31 July 2025
Page 8

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
15,759,842
21,991,750

Cost of sales
  
(12,144,816)
(16,728,312)

Gross profit
  
3,615,026
5,263,438

Administrative expenses
  
(4,056,691)
(4,945,173)

Operating (loss)/profit
  
(441,665)
318,265

Interest receivable and similar income
 8 
12,056
7,632

(Loss)/profit before tax
  
(429,609)
325,897

Tax on (loss)/profit
 9 
43,811
(43,811)

(Loss)/profit for the financial year
  
(385,798)
282,086

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 13 to 25 form part of these financial statements.
Page 9

 
TOTAL ASSIST RECRUITMENT LIMITED
REGISTERED NUMBER: 03869014

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
368,209
401,026

  
368,209
401,026

Current assets
  

Debtors: amounts falling due within one year
 12 
3,688,221
4,571,965

Cash at bank and in hand
 13 
225,608
581,208

  
3,913,829
5,153,173

Creditors: amounts falling due within one year
 14 
(4,066,398)
(4,276,609)

Net current (liabilities)/assets
  
 
 
(152,569)
 
 
876,564

Total assets less current liabilities
  
215,640
1,277,590

  

Net assets
  
215,640
1,277,590


Capital and reserves
  

Called up share capital 
 17 
1
1

Other reserves
 18 
51,514
41,211

Profit and loss account
 18 
164,125
1,236,378

  
215,640
1,277,590

Page 10

 
TOTAL ASSIST RECRUITMENT LIMITED
REGISTERED NUMBER: 03869014
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.




J Rich
Director

The notes on pages 13 to 25 form part of these financial statements.
Page 11

 
TOTAL ASSIST RECRUITMENT LIMITED
 

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


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 December 2022
1
-
2,231,292
2,231,293



Profit for the year
-
-
282,086
282,086

Share option reserve
-
41,211
-
41,211

Dividends: Equity capital
-
-
(1,277,000)
(1,277,000)



At 1 December 2023
1
41,211
1,236,378
1,277,590



Loss for the year
-
-
(385,798)
(385,798)

Share option reserve
-
10,303
-
10,303

Dividends: Equity capital
-
-
(686,455)
(686,455)


At 30 November 2024
1
51,514
164,125
215,640


The notes on pages 13 to 25 form part of these financial statements.
Page 12

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Total Assist Recruitment Limited is a private company limited by shares, incorporated in England & Wales. Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH and its principal place of business is Blackburn House, 22-26 Eastern Rd, Romford, RM1 3PJ. 
The financial statements are presented in Sterling, which is the functional currency of the Company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The company is in a net asset position and as a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 13

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 14

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the life of the lease
Short-term leasehold property
-
Over the life of the lease
Motor vehicles
-
50% on straight line
Fixtures and fittings
-
20 on straight line
Computer equipment
-
25% on straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 15

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the process of applying the company's accounting policies management have decided that the
following estimates and assumptions have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities recognised in the financial statements.
Carrying value of tangible fixed assets
Determining the carrying value of tangible fixed assets requires an estimate of the useful economic lives,
residual values and depreciation methods of the individual class of assets and an assessment of any
indications in a given year that may indicate an impairment at the reporting date.
The directors review the useful economic lives, residual values and depreciation methods on a regular
basis and adjust if considered necessary. The directors also review the carrying value if there is any
indication of a significant change from the previous reporting date.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Recruitment and placement of staff
15,759,842
21,991,750

15,759,842
21,991,750


All turnover arose within the United Kingdom.


5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
48,000
48,000
Page 16

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,780,352
3,559,875

Social security costs
316,627
394,105

Cost of defined contribution scheme
34,067
42,919

3,131,046
3,996,899


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
54
64


7.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
828,304
1,141,257

Company contributions to defined contribution pension schemes
3,963
3,963

832,267
1,145,220


During the year retirement benefits were accruing to 3 directors (2023 - 3) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £235,833 (2023 - £310,461).


8.


Interest receivable

2024
2023
£
£


Other interest receivable
12,056
7,632

12,056
7,632

Page 17

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Taxation


2024
2023
£
£



Current tax on profits for the year
(88,308)
88,308


(88,308)
88,308



Recognition of deferred tax asset on share options
-
(44,497)

Derecognition of deferred tax asset on share options
44,497
-


Tax on (loss)/profit
(43,811)
43,811
Page 18

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
9.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


(Loss)/profit on ordinary activities before tax
(429,609)
325,897


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
(107,402)
81,474

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
78
1,077

Depreciation for year in excess of capital allowances
8,212
13,391

Deferred tax adjustment
44,496
(44,498)

Unrelieved tax losses carried forward
4,753
-

Other differences leading to an increase (decrease) in the tax charge
6,052
(7,633)

Total tax charge for the year
(43,811)
43,811


10.


Dividends

2024
2023
£
£


Dividend paid
686,455
1,277,000

686,455
1,277,000

Page 19

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
410,704
74,410
189,347
794,567
1,469,028


Additions
29
53,212
601
27,631
81,473



At 30 November 2024

410,733
127,622
189,948
822,198
1,550,501



Depreciation


At 1 December 2023
146,054
64,636
138,696
718,616
1,068,002


Charge for the year on owned assets
32,734
8,895
17,130
55,531
114,290



At 30 November 2024

178,788
73,531
155,826
774,147
1,182,292



Net book value



At 30 November 2024
231,945
54,091
34,122
48,051
368,209



At 30 November 2023
264,650
9,774
50,651
75,951
401,026

Page 20

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

12.


Debtors

2024
2023
£
£


Trade debtors excluding factored debts
706,439
866,430

Factored debts
540,579
1,044,900

Amounts owed by group undertakings
805,633
1,176,917

Amounts owed by joint ventures and associated undertakings
686,640
723,189

Other debtors
457,360
148,726

Prepayments and accrued income
491,570
567,306

Deferred taxation
-
44,497

3,688,221
4,571,965






Trade debtors totalling £540,579 (2023: £1,044,900) have been pledged as security against amounts due in respect of financed trade receivables.


13.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
225,608
581,208

Less: bank overdrafts
(30)
-

225,578
581,208


Page 21

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
30
-

Trade creditors
100,921
184,176

Amounts owed to group undertakings
333,950
88,537

Amounts owed to other participating interests
1,930,450
1,865,622

Corporation tax
-
59,005

Other taxation and social security
358,438
393,921

Other creditors
607,034
923,317

Accruals and deferred income
735,575
762,031

4,066,398
4,276,609



15.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
225,608
581,208




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


16.


Deferred taxation




2024


£






At beginning of year
44,497


Charged to profit or loss
(44,497)



At end of year
-

Page 22

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
16.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2024
2023
£
£


Deferred tax asset recognised on share options
-
44,497

-
44,497

The deferred tax asset of £44,497 previously recognised in respect of share-based payment arrangements has been derecognised in the year. This follows a reassessment of the expected future tax deduction.


17.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



18.


Reserves

Other reserves

Share options reserve

Profit and loss account

Cumulative profit and loss net of distribution to owners.

Page 23

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

19.


Share-based payments

A share option scheme for key employees was set up by the ultimate parent undertaking in November 2019. Options have a term of 10 years. Earlier termination may occur if the employee's employment is terminated or if certain corporate changes or transactions occur. The board of directors of the ultimate parent undertaking determines the grant and the exercise price at the time the options are granted. Each stock option agreement specified the date and period over which the option becomes exercisable. Vesting is conditional upon the employee remaining continuously employed by the group. During the year, no new options were granted, all employees remained within the business and no options exercised. The value of the services provided by employees over the 10 year period as according to the Black Scholes model is £1.72 per option which attributes to an overall value of £103,028 to be spread over the 10 year vesting period. During the year, an adjustment of £10,303 (2023: £41,211) was reflected within the profit and loss. Further details are shown below:

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year

515

59,900

515
 
59,900
 
Outstanding at the end of the year
515

59,900

515
 
59,900
 

2024
2023

Option pricing model used


Black Scholes

Black Scholes
 
Weighted average share price (pence)


515

515
 
Exercise price (pence)


515

515
 
Weighted average contractual life (days)


3652

3652
 
Expected volatility


25%

25%
 
Expected dividend growth rate


0%

0%
 
Risk-free interest rate


0.75%

0.75%
 



20.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totaling £20,020 (2023: £17,091) were payable to the fund at the year end and are included in other creditors.

Page 24

 
TOTAL ASSIST RECRUITMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

21.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
119,062
119,062

Later than 1 year and not later than 5 years
168,671
287,733

287,733
406,795


22.


Related party transactions

The company has taken advantage of the exemption available in FRS 102, section 33, whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidairy undertakings of the group.
Included in short term debtors is an amount of £1,492,273 (2023: £1,900,106) due from companies under common control.
Included in short term creditors is an amount of £2,264,400 (2023: £1,954,159) due to companies under common control.


23.


Controlling party

The immediate parent company is Total Assist Healthcare Group Limited. The ultimate parent company is Total Assist Holdings Limited. Copies of the group accounts can be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
The ultimate controlling party is J Rich.
 
Page 25