BrightAccountsProduction v1.0.0 v1.0.0 2023-12-01 The company was not dormant during the period The company was trading for the entire period Commercial contractor. 28 August 2025 06425704 2024-11-30 06425704 2023-11-30 06425704 2022-11-30 06425704 2023-12-01 2024-11-30 06425704 2022-12-01 2023-11-30 06425704 uk-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06425704 uk-curr:PoundSterling 2023-12-01 2024-11-30 06425704 uk-bus:FullAccounts 2023-12-01 2024-11-30 06425704 uk-bus:Director1 2023-12-01 2024-11-30 06425704 uk-bus:Director2 2023-12-01 2024-11-30 06425704 uk-bus:Director3 2023-12-01 2024-11-30 06425704 uk-bus:CompanySecretary1 2023-12-01 2024-11-30 06425704 uk-bus:RegisteredOffice 2023-12-01 2024-11-30 06425704 uk-bus:Agent1 2023-12-01 2024-11-30 06425704 uk-bus:Audited 2023-12-01 2024-11-30 06425704 uk-core:ShareCapital 2024-11-30 06425704 uk-core:ShareCapital 2023-11-30 06425704 uk-core:RetainedEarningsAccumulatedLosses 2024-11-30 06425704 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 06425704 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-11-30 06425704 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 06425704 uk-bus:FRS102 2023-12-01 2024-11-30 06425704 uk-core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 06425704 uk-core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 06425704 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2023-12-01 2024-11-30 06425704 uk-core:TotalPropertyPlantEquipmentOtherThanExplorationEvaluationAssets 2022-12-01 2023-11-30 06425704 uk-core:CurrentFinancialInstruments 2024-11-30 06425704 uk-core:CurrentFinancialInstruments 2023-11-30 06425704 uk-core:WithinOneYear 2024-11-30 06425704 uk-core:WithinOneYear 2023-11-30 06425704 uk-core:EmployeeBenefits 2023-11-30 06425704 uk-core:EmployeeBenefits 2023-12-01 2024-11-30 06425704 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-11-30 06425704 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-11-30 06425704 uk-core:OtherDeferredTax 2024-11-30 06425704 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-11-30 06425704 uk-core:EmployeeBenefits 2024-11-30 06425704 uk-bus:OrdinaryShareClass1 2023-12-01 2024-11-30 06425704 uk-bus:OrdinaryShareClass2 2023-12-01 2024-11-30 06425704 uk-bus:OrdinaryShareClass3 2023-12-01 2024-11-30 06425704 uk-bus:OrdinaryShareClass4 2023-12-01 2024-11-30 06425704 uk-bus:OrdinaryShareClass1 2024-11-30 06425704 uk-bus:OrdinaryShareClass2 2024-11-30 06425704 uk-bus:OrdinaryShareClass3 2024-11-30 06425704 uk-bus:OrdinaryShareClass4 2024-11-30 06425704 2023-12-01 2024-11-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 06425704
 
 
MyPay Limited
 
Reports and Financial Statements
 
for the financial year ended 30 November 2024
MyPay Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Stephen Hollins
Dianna Hollins
Dawid Jurkiewicz
 
 
Company Secretary Jane Hollins
 
 
Company Registration Number 06425704
 
 
Registered Office and Business Address Sovereign House
Stockport Road
Cheadle
Cheshire
SK8 2EA
 
 
Independent Auditors Langers MN Limited
Chartered Certified Accountant and Statutory Auditor
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY



MyPay Limited
STRATEGIC REPORT
for the financial year ended 30 November 2024

 
The directors present their strategic report on the company for the financial year ended 30 November 2024.
 
Review of the Company's Business
We operate solely within the United Kingdom and have no offices outside the UK. Our principal activity is as a commercial contractor, with the majority of our business focused in the health and social care sector. The company is also developing new opportunities in additional markets, including the education sector.
       
Principal Risks and Uncertainties
The company faces the usual risks of operating in a highly regulated sector, including potential changes in legislation that may affect future performance. In particular, the April 2026 compliance reforms are expected to reshape the sector. Whilst such changes present challenges, MyPay is confident that demand for compliant solutions will increase and that the company is well placed to capture this demand.

External events outside the control of the company, such as economic downturns or unforeseen events like pandemics, also represent a risk to operations.
       
Development and Performance
During the financial year, turnover was £44.2m (2023: £49.7m). Profit before taxation amounted to £170k (2023: £306k). The reduction in both turnover and profitability reflects the competitive conditions within the sector and increased administrative costs.

Despite these results, MyPay has continued to invest in strengthening its compliance and service offering. These investments place the company in a strong position to benefit from expected market changes, including the April 2026 legislative reforms.
       
Financial Key Performance Indicators
The directors consider that the key financial performance indicators that communicate the financial performance and strength of the company are turnover and pre-tax profits.
       
Outlook
The directors are confident in the future prospects of the company. With continued investment in compliance, customer service and sector diversification, MyPay is positioned for growth. The upcoming April 2026 compliance requirements are expected to drive increased demand for fully compliant payroll and contracting solutions, presenting a significant opportunity for the business.
       
Engagement with suppliers, customers and others in a business relationship with the company
As a business that deals in high quantity of transactions in multiple supply chains, MyPay understands our duty in relation to payment practices and performances.  We have various Clients with payment terms ranging from 30 days to payment on receipt invoice. MyPay processes ensure all payments are made promptly within all agreed payment terms and we do not have any outstanding payments.
       
Environment
The company takes its environmental responsibilities seriously and complies with the requirements of the Energy Savings Opportunity Scheme (ESOS). We assess our energy usage, review efficiency opportunities and seek to minimise our environmental footprint wherever practical. The company consumed less than 40,000kWh of energy during the year.

       
Employees
The company operates an equal opportunities policy, ensuring fair and non-discriminatory selection processes. Career development, training and promotion prospects of any disabled employee are identical to that of any other employee. The company complies with all relevant health and safety legislation, as far as is reasonably practical, to ensure the welfare of all employees.

In 2024, a new health and well-being programme was introduced, aimed at supporting both the physical and mental well-being of staff. The company continues to value and invest in its employees, recognising their central role in the success of the business.
       
       
On behalf of the board
       
       
       
___________________________      
Stephen Hollins      
Director      
       
28 August 2025      



MyPay Limited
DIRECTORS' REPORT
for the financial year ended 30 November 2024

 
The directors present their report and the audited financial statements for the financial year ended 30 November 2024.
 
Principal Activity
Commercial contractor.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £52,868 (2023 - £233,184).
The directors have paid an interim dividend amounting to £121,080 and they do not recommend payment of a final dividend.
     
Directors
The directors who served during the financial year are as follows:
     
Stephen Hollins
Dianna Hollins
Dawid Jurkiewicz
   
     
Events After the End of the Reporting Period
There have been no significant events affecting the company since the financial year-end.
     
Political Contributions
The company did not make any political donations in the current financial year.
     
Statement of Directors' Responsibilities
             
The directors are responsible for preparing the Strategic Report, 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 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 and apply them consistently;
▪make judgements and accounting estimates that are reasonable and prudent;
▪state whether applicable UK Accounting Standards comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements;
▪prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
                 
Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
In so far as the directors are aware:
▪there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
▪the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
     
Auditor
The auditor, Langers MN Limited, (Chartered Certified Accountant) has indicated his willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.
     
Disclosures Required Under Schedule 7
The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. The strategic report includes information required by section 172(1) of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Stephen Hollins
Director
     
28 August 2025



INDEPENDENT AUDITOR'S REPORT
to the Members of MyPay Limited

 
Report on the audit of the financial statements
 
Opinion
I have audited the financial statements of MyPay Limited ('the company') for the financial year ended 30 November 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Cash Flows and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In my 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 profit for the financial 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
I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of my report. I am independent of the company in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC's Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.
 
Conclusions relating to going concern
In auditing the financial statements, I has 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 I has performed, I has 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 the date when the financial statements are authorised for issue.
 
My responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
 
Other Information
The other information comprises the information included in the annual report other than the financial statements and my Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any form of assurance conclusion thereon.

My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard.
 
Opinion on other matters prescribed by the Companies Act 2006
In my 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 I am required to report by exception
In the light of my knowledge and understanding of the company and its environment obtained in the course of the audit, I have not identified any material misstatements in the Strategic Report and the Directors' Report.
 
I have nothing to report in respect of the following matters where the Companies Act 2006 requires me to report to you if, in my opinion:
adequate accounting records have not been kept; 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
I have not received all the information and explanations I require for my audit.
 
Responsibilities of directors for the financial statements
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 they 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 has no realistic alternative but to do so.
 
Auditor's responsibilities for the audit of the financial statements
My 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 Auditor's Report that includes my 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. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which my procedures are capable of detecting irregularities, including fraud is detailed below:
 
My 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:

• I ensured that the engagement team collectively had the appropríate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• I identified the laws and regulations applicable to the company through discussions with directors and other management.
• I focused on specific laws and regulations which I 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.
• I assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

I 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;
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

To address the risk of fraud through management bias and override of controls, I:
• 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 the 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, I 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, relevant regulators and the company's legal advisors;

There are inherent limitations in my audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that I 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 my responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of my report.
 
Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.
 
 
 
__________________________________
Steven Nixon BSc (Hons) FCCA (Senior Statutory Auditor)
for and on behalf of
LANGERS MN LIMITED
Chartered Certified Accountant and Statutory Auditor
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
 
28 August 2025



MyPay Limited
APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of my responsibilities as auditor
 
As part of an audit in accordance with ISAs (UK), I exercise professional judgement and maintain professional scepticism throughout the audit. I also:
 
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
 
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
 
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
 
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.
 
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
 
I communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that I identify during my audit.



MyPay Limited
INCOME STATEMENT
for the financial year ended 30 November 2024
2024 2023
Notes £ £

Turnover 3 44,228,498 49,731,826
 
Cost of sales (43,150,130) (48,619,342)
───────── ─────────
Gross profit 1,078,368 1,112,484
 
Administrative expenses (1,044,417) (831,210)
───────── ─────────
Operating profit 4 33,951 281,274
 
Interest receivable and similar income 5 39,509 24,577
Interest payable and similar expenses 6 (8) -
───────── ─────────
Profit before taxation 73,452 305,851
 
Tax on profit 8 (20,584) (72,667)
───────── ─────────
Profit for the financial year 52,868 233,184
───────── ─────────
Total comprehensive income 52,868 233,184
         
Equity dividends   (121,080)   (391,100)
Retained profit/(loss) brought forward   138,602   296,518
    ─────────   ─────────
Retained profit carried forward   70,390   138,602
    ═════════   ═════════



MyPay Limited
Company Registration Number: 06425704
STATEMENT OF FINANCIAL POSITION
as at 30 November 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 10 33 44
───────── ─────────
 
Current Assets
Debtors 11 488,676 734,893
Cash and cash equivalents 12 2,217,331 2,333,445
───────── ─────────
2,706,007 3,068,338
───────── ─────────
Creditors: amounts falling due within one year 13 (2,539,007) (2,929,669)
───────── ─────────
Net Current Assets 167,000 138,669
───────── ─────────
Total Assets less Current Liabilities 167,033 138,713
 
Provisions for liabilities 15 (96,543) (11)
───────── ─────────
Net Assets 70,490 138,702
═════════ ═════════
 
Capital and Reserves
Called up share capital 17 100 100
Retained earnings 70,390 138,602
───────── ─────────
Equity attributable to owners of the company 70,490 138,702
═════════ ═════════
 
           
Approved by the Board and authorised for issue on 28 August 2025 and signed on its behalf by
           
           
           
________________________________          
Stephen Hollins          
Director          
           



MyPay Limited
STATEMENT OF CASH FLOWS
for the financial year ended 30 November 2024
2024 2023
Notes £ £

Cash flows from operating activities
Profit for the financial year 52,868 233,184
Adjustments for:
Interest receivable and similar income (39,509) (24,577)
Interest payable and similar expenses 8 -
Tax on profit on ordinary activities 20,584 72,667
Depreciation 11 14
───────── ─────────
33,962 281,288
Movements in working capital:
Movement in provisions 96,535 -
Movement in debtors 246,217 (170,598)
Movement in creditors (338,582) (229,949)
───────── ─────────
Cash generated from/(used in) operations 38,132 (119,259)
Interest paid (8) -
Tax paid (72,667) (75,445)
───────── ─────────
Net cash used in operating activities (34,543) (194,704)
───────── ─────────
Cash flows from investing activities
Interest received   39,509 24,577
    ───────── ─────────
Cash flows from financing activities
Dividends paid   (121,080) (391,100)
    ───────── ─────────
       
Net decrease in cash and cash equivalents   (116,114) (561,227)
Cash and cash equivalents at beginning of financial year   2,333,445 2,894,672
    ───────── ─────────
Cash and cash equivalents at end of financial year 12 2,217,331 2,333,445
    ═════════ ═════════



MyPay Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 November 2024

   
1. General Information
 
MyPay Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 06425704. The registered office of the company is Sovereign House, Stockport Road, Cheadle, Cheshire, SK8 2EA which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 November 2024 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing balance
  Computer software - 33.33% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Turnover
 
The whole of the company's turnover is attributable to its market in United Kingdom and is derived from the principal activity as a commercial contractor.
       
4. Operating profit 2024 2023
  £ £
Operating profit is stated after charging:
Depreciation of property, plant and equipment 11 14
Operating lease rentals
- Land and buildings 23,810 23,077
- Motor vehicles 14,756 14,756
- Office equipment 1,069 1,064
Auditor's remuneration
- audit services 6,240 6,000
- taxation compliance services 245 235
- other non-audit services 60 58
  ═════════ ═════════
       
5. Interest receivable and similar income 2024 2023
  £ £
 
Bank interest 39,392 24,471
Other interest 117 106
  ───────── ─────────
  39,509 24,577
  ═════════ ═════════
       
6. Interest payable and similar expenses 2024 2023
  £ £
 
Interest on overdue tax 8 -
  ═════════ ═════════
       
7. Employees and remuneration
 
Number of employees
The average number of persons employed (including executive directors) during the financial year was as follows:
 
  2024 2023
  Number Number
 
Management & Administration 13 13
Off-site employees 743 817
  ───────── ─────────
  756 830
  ═════════ ═════════
 
The staff costs (inclusive of directors' salaries) comprise: 2024 2023
  £ £
 
Wages and salaries 38,903,459 43,368,906
Social security costs 4,301,233 5,026,976
Pension costs 424,444 450,082
  ───────── ─────────
  43,629,136 48,845,964
  ═════════ ═════════
       
8. Tax on profit
  2024 2023
  £ £
(a)     Analysis of charge in the financial year
 
Current tax:
Corporation tax at 25.00% (2023 - 23.00%) (Note 8 (b)) 20,587 72,667
  ───────── ─────────
 
Deferred tax:
Origination and reversal of timing differences (3) -
  ───────── ─────────
Total deferred tax (3) -
  ═════════ ═════════
Tax on profit  (Note 8 (b)) 20,584 72,667
  ═════════ ═════════
 
(b)     Factors affecting tax charge for the financial year
 
The tax assessed for the financial year differs from the standard rate of corporation tax in United Kingdom 25.00% (2023 - 23.00%). The differences are explained below:
  2024 2023
  £ £
 
Profit taxable at 25.00% 73,452 305,851
  ═════════ ═════════
Profit before tax
multiplied by the standard rate of corporation tax
in United Kingdom at 25.00% (2023 - 23.00%) 18,363 70,346
Effects of:
Expenses not deductible for tax purposes 4,597 2,286
Deferred tax (3) -
Marginal Relief and Rounding (2,373) 35
  ───────── ─────────
Total tax charge for the financial year (Note 8 (a)) 20,584 72,667
  ═════════ ═════════
 
       
9. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary - Interim paid 121,080 391,100
  ═════════ ═════════
         
10. Property, plant and equipment
  Fixtures, Computer Total
  fittings and software  
  equipment    
  £ £ £
Cost
At 1 December 2023 1,013 26,120 27,133
  ───────── ───────── ─────────
 
At 30 November 2024 1,013 26,120 27,133
  ───────── ───────── ─────────
Depreciation
At 1 December 2023 969 26,120 27,089
Charge for the financial year 11 - 11
  ───────── ───────── ─────────
At 30 November 2024 980 26,120 27,100
  ───────── ───────── ─────────
Net book value
At 30 November 2024 33 - 33
  ═════════ ═════════ ═════════
At 30 November 2023 44 - 44
  ═════════ ═════════ ═════════
       
11. Debtors 2024 2023
  £ £
 
Trade debtors 453,776 693,837
Other debtors 1,650 1,650
Prepayments and accrued income 33,250 39,406
  ───────── ─────────
  488,676 734,893
  ═════════ ═════════
       
12. Cash and cash equivalents 2024 2023
  £ £
 
Cash and bank balances 117,331 33,445
Cash equivalents 2,100,000 2,300,000
  ───────── ─────────
  2,217,331 2,333,445
  ═════════ ═════════
       
13. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 8,136 5,171
Taxation and social security costs (Note 14) 2,312,158 2,538,512
Other creditors 189,843 356,486
Accruals:
Pension accrual 19,674 22,040
Other accruals 9,196 7,460
  ───────── ─────────
  2,539,007 2,929,669
  ═════════ ═════════
       
14. Taxation and social security 2024 2023
  £ £
 
Creditors:
VAT 1,345,835 1,534,478
Corporation tax 20,587 72,667
PAYE / NI 945,736 931,367
  ───────── ─────────
  2,312,158 2,538,512
  ═════════ ═════════
           
15. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Legal and Total Total
  allowances Professional    
    Fees    
      2024 2023
  £ £ £ £
 
At financial year start 11 - 11 11
Charged to profit and loss - 96,535 96,535 -
Released during the financial year (3) - (3) -
  ───────── ───────── ───────── ─────────
At financial year end 8 96,535 96,543 11
  ═════════ ═════════ ═════════ ═════════
 
The provision of legal and professional fees relate to the HMRC enquiry and the First Tier Tribunal listed to take place in March 2026.
   
16. Pension costs - defined contribution
 
The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  Pension costs amounted to £424,444 (2023 - £450,082).
           
17. Share capital     2024 2023
      £ £
Description Number of shares Value of units    
 
Allotted, called up and fully paid
Ordinary 88 £1.00 each 88 88
Ordinary A 10 £1.00 each 10 10
Ordinary B 2 £0.50 each 1 1
Ordinary C 2 £0.50 each 1 1
 
      ───────── ─────────
      100 100
      ═════════ ═════════
       
18. Financial commitments
 
Total future minimum lease payments under non-cancellable operating leases are as follows:
 
  2024 2023
  £ £
Due:
Within one year 4,919 -
Between one and five years 2,422 19,772
  ───────── ─────────
  7,341 19,772
  ═════════ ═════════
       
19. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2024.
       
20. Directors' remuneration 2024 2023
  £ £
 
Remuneration 193,762 156,678
Pension contributions 60,000 51,900
  ───────── ─────────
  253,762 208,578
  ═════════ ═════════
 
  Number Number
 
Number of directors to whom retirement benefits
are accruing under a money purchase scheme 1 1
  ═════════ ═════════
           
21. Related party transactions
 
The company provided management services to MyPay PSC Ltd, company number 10022112, until it was dissolved on 31 January 2023. Two of the directors were also directors of MyPay PSC Ltd. The value of the management services provided in 2023 were £500.
   
22. Controlling interest
 
The company is controlled by the directors Stephen Hollins and Dianne Hollins and their associates, who hold 90% of the ordinary share capital (2023 90%).
   
23. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.