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Registered number: 10763957
Payments Pro Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 November 2024
EAM London Limited
Chartered Tax Accountants
215-221 Borough High Street
London
SE1 1JA
Financial Statements
Contents
Page
Strategic Report 1—2
Directors' Report 3—4
Independent Auditor's Report 5—7
Profit and Loss Account 8
Statement of Comprehensive Income 9
Balance Sheet 10
Statement of Changes in Equity 11
Statement of Cash Flows 12
Notes to the Statement of Cash Flows 13
Notes to the Financial Statements 14—18
Page 1
Strategic Report
The directors present their strategic report for the year ended 30 November 2024.
Principal Activity
The principal activity of the company continued to be that of professional consultancy as well as umbrella company services for CIS and Self Employment schemes.
Review of the Business
The company has continued to expand and grow on all fronts. 
In July 2023 the company began to win major new business and as a result has experienced rapid growth, the turnover increased by 89% up to £56,395,608 (2023: £29,828,512).The Gross Profit saw an increase of 13% and the Gross Profit margin stabilised at 3%.
This resulted in a second office being established and administrative costs raising by 45%. The number of internal staff doubled and the company suffered various temporary and one-off costs such as increased recruitment fees, employee expenses and rental costs. The company therefore generated a small loss of £4,194 in 2024 compared to a profit of £102,384 in the prior year. 
Payments Pro continues to win new business and expand, so is on track for a further 20% growth of turnover in the following year.  
Principal Risks and Uncertainties
Operating within the accredited payroll sector requires the company to remain compliant with the constantly evolving legislation. Specifically, Payments Pro holds FCSA accreditation, strives to comply within HMRC statue and acquires specialised insight regarding employment law.
The company is constantly reviewing its exposure to risk and has identified the following risks:
IT Systems:
With the increased reliance on technology, any disruption to the company's IT systems can result in a halt in operations and lead to financial losses. Measures taken to protect and preserve company data, include the use of multi-factor authentication, constant system backups and the use of cloud software where possible, as well as specialised encrypted services for e-signatures. 
Operating Risks:
Common to many businesses, operating risks include human errors, internal process failures, and compliance risks. The company mitigates operational risks by employing an external board of specialists which oversees, improves and manages internal processes. Payments Pro is in regular communication with its regulatory bodies to ensure compliance and awareness of any changes to tax and employment legislation. The company is also subject to rigid monthly reporting deadlines via HMRC submissions and internal management accounts which provide a good insight into the company's day-to-day processes. Systems are in place to ensure an efficient stream of information allowing for timely completion of all reporting deadlines. 
Credit and Liquidity risks:
The company holds most of its assets as trade debtors and bank funds, maintaining a constant positive cash balance and enough liquidity to overcome any immediate challenges. Despite a high level of trade debtors, the risk is considered low as funds are usually not paid out to subcontractors or HMRC until income is received from the customer. The company prepares and maintains a weekly cashflow which provides and up-to-date insight into the company position allowing for financial decisions to be made using real time information, limiting risk.
Exchange rate and foreign currency risks:
The vast majority of sales and purchases are made in GBP within the UK. There are no accounts holding foreign currency therefore there is very little exposure to foreign currency risks.
Changes in Legislation risk:
Due to the nature of the sector in which Payments Pro operates, it is susceptible to constantly-changing legislation and designated frameworks. The company values experience with all matters relating to compliance and therefore seeks input where required from specialist professionals to minimise risk. 
Employees
The directors seek to promote a good work environment and are committed to ensuring that all employees are treated fairly and respectfully. Working conditions are kept to a high standard and any internal issues or complaints are delt with in a professional and consistent manner. 
Page 1
Page 2
Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Company
The senior leadership team highlights the importance of building and maintaining good business relationships with all key entities for the company's existence and growth. This is done through various forms of communication, discussions and in-person meetings with these entities to ensure a good external perception of the businesses actives. This also promotes a constant flow of new ideas and decision-making opportunities throughout the senior team.
Section 172(1) Statement
Under Section 172 of the companies act 2006 the directors have acted in best faith. All matters and decision-making relating to the company has been deliberate and carefully thought out to best promote the company's growth and compliance. 
On behalf of the board
Mr Ashley Holdaway
Director
22/08/2025
Page 2
Page 3
Directors' Report
The directors present their report and the financial statements for the year ended 30 November 2024.
Directors
The directors who held office during the year were as follows:
Mr Imran Qadeer Resigned 19/04/2024
Mr Ashley Holdaway
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
Statement of Directors' Responsibilities
The directors are responsible for preparing 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: 
  • select suitable accounting policies 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 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.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. 
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • They have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, Shenward LLP, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr Ashley Holdaway
Director
22/08/2025
Page 4
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Independent Auditor's Report
Opinion
We have audited the financial statements of Payments Pro Limited for the year ended 30 November 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 profit/(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 Auditor's 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report. 
Other Information
The director is responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Director and the Statement of Director's Responsibilities, but does not include the financial statements and our Report of the Auditors thereon. 
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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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 or 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—4, 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.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the Company and management. 
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and regulations which governs the preparation of the financial statements, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase profit, through management bias in manipulation of accounting estimates or accounting for significant transactions outside the normal course of business.
Audit procedures performed included, but not limited to:
- Enquiry of management around actual and potential litigation claims and instances of non-compliance with laws and regulations;
- Auditing the risk of management override of controls, through testing journal entries and other adjustments for appropriateness, testing accounting estimates (because of the risk of management bias), and evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing financial statements disclosures and agreeing to supporting documentation to assess compliance with applicable laws and regulations; and
- Review of board meeting minutes (where held).
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of  instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.
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Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's 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.
Sherad Dewedi (Senior Statutory Auditor)
for and on behalf of Shenward LLP , Statutory Auditor
22/08/2025
Shenward LLP
Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House, Woodland Park, Bradford Road
Cleckheaton West Yorkshire
BD19 6BW
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Profit and Loss Account
30 November 2024 30 November 2023
Notes £ £
TURNOVER 3 56,395,608 29,828,512
Cost of sales (54,611,105 ) (28,245,149 )
GROSS PROFIT 1,784,503 1,583,363
Administrative expenses (1,815,665 ) (1,248,843 )
OPERATING (LOSS)/PROFIT 4 (31,162 ) 334,520
Interest payable and similar charges 8 38,589 (118,381 )
PROFIT BEFORE TAXATION 7,427 216,139
Tax on Profit (11,621 ) (113,755 )
(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR (4,194 ) 102,384
The notes on pages 13 to 18 form part of these financial statements.
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Statement of Comprehensive Income
30 November 2024 30 November 2023
£ £
LOSS FOR THE FINANCIAL YEAR (4,194 ) 102,384
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR (4,194 ) 102,384
Page 9
Page 10
Balance Sheet
Registered number: 10763957
30 November 2024 30 November 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 9 7,960 11,366
7,960 11,366
CURRENT ASSETS
Debtors 10 7,345,401 4,895,982
Cash at bank and in hand 511,989 999,227
7,857,390 5,895,209
Creditors: Amounts Falling Due Within One Year 11 (7,560,935 ) (4,415,178 )
NET CURRENT ASSETS (LIABILITIES) 296,455 1,480,031
TOTAL ASSETS LESS CURRENT LIABILITIES 304,415 1,491,397
Creditors: Amounts Falling Due After More Than One Year 12 (113,166 ) (1,295,954 )
NET ASSETS 191,249 195,443
CAPITAL AND RESERVES
Called up share capital 14 604 604
Share premium account 499,499 499,499
Profit and Loss Account (308,854 ) (304,660 )
SHAREHOLDERS' FUNDS 191,249 195,443
On behalf of the board
Mr Ashley Holdaway
Director
22/08/2025
The notes on pages 13 to 18 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 June 2022 104 - (407,044 ) (406,940)
Profit for the period and total comprehensive income - - 102,384 102,384
Arising on shares issued during the period 500 499,499 - 499,999
As at 30 November 2023 and 1 December 2023 604 499,499 (304,660 ) 195,443
Loss for the year and total comprehensive income - - (4,194 ) (4,194)
As at 30 November 2024 604 499,499 (308,854 ) 191,249
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Statement of Cash Flows
30 November 2024 30 November 2023
Notes £ £
Cash flows from operating activities
Net cash (used in)/generated from operations 1 (506,866 ) 425,587
Interest refunded/(paid) 38,589 (118,381 )
Net cash (used in)/generated from operating activities (468,277 ) 307,206
Cash flows from investing activities
Purchase of tangible assets (3,104 ) (3,161 )
Cash flows from financing activities
Proceeds from issue of share capital - 499,999
Proceeds from new bank borrowings - 1,026
Repayment of bank borrowings (15,857 ) -
Amount introduced by directors - 8,574
Net cash (used in)/generated from financing activities (15,857 ) 509,599
(Decrease)/increase in cash and cash equivalents (487,238 ) 813,644
Cash and cash equivalents at beginning of year 2 999,227 185,583
Cash and cash equivalents at end of year 2 511,989 999,227
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Notes to the Statement of Cash Flows
1. Reconciliation of (loss)/profit for the financial year to cash (used in)/generated from operations
30 November 2024 30 November 2023
£ £
(Loss)/profit for the financial year (4,194 ) 102,384
Adjustments for:
Tax on (loss)/profit 11,621 113,755
Interest expense (38,589 ) 118,380
Depreciation of tangible assets 6,510 8,559
Movements in working capital:
Increase in trade and other debtors (2,472,517 ) (4,672,326 )
Increase in trade and other creditors 1,990,303 4,754,835
Net cash (used in)/generated from operations (506,866 ) 425,587
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
30 November 2024 30 November 2023
£ £
Cash at bank and in hand 511,989 999,227
3. Analysis of changes in net funds
As at 1 December 2023 Cash flows As at 30 November 2024
£ £ £
Cash at bank and in hand 999,227 (487,238) 511,989
Debts falling due within one year (17,201 ) 11,374 (5,827 )
Debts falling due after more than one year (27,649) 4,483 (23,166)
954,377 (471,381) 482,996
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Notes to the Financial Statements
1. General Information
Payments Pro Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10763957 . The registered office is 215-221 Borough High Street, London, SE1 1JA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. All turnover is revenue generated from the provision of services by our employees as a direct result of their placement into designated assignments.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Plant & Machinery 25% straight line
Computer Equipment 33% straight line
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Turnover
Analysis of turnover by class of business is as follows:
30 November 2024 30 November 2023
£ £
Sales 56,395,608 29,828,512
4. Operating (Loss)/profit
30 November 2024 30 November 2023
£ £
Depreciation of tangible fixed assets 6,510 8,559
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
30 November 2024 30 November 2023
£ £
Audit Services
Audit of the company's financial statements 15,000 13,500
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
30 November 2024 30 November 2023
£ £
Wages and salaries 26,008,921 20,031,747
Social security costs 4,258,996 3,482,146
Other pension costs 407,347 148,772
30,675,264 23,662,665
7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
30 November 2024 30 November 2023
Office and administration 15 8
Contracting 1283 889
1298 897
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8. Interest Payable and Similar Charges
30 November 2024 30 November 2023
£ £
Bank loans and overdrafts 53 708
Interest payable on other loans (58,305 ) 58,305
Other finance charges 19,663 59,368
(38,589) 118,381
9. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 13,526 7,500 5,899 26,925
Additions - - 3,104 3,104
As at 30 November 2024 13,526 7,500 9,003 30,029
Depreciation
As at 1 December 2023 6,830 4,688 4,041 15,559
Provided during the period 2,705 1,875 1,930 6,510
As at 30 November 2024 9,535 6,563 5,971 22,069
Net Book Value
As at 30 November 2024 3,991 937 3,032 7,960
As at 1 December 2023 6,696 2,812 1,858 11,366
10. Debtors
30 November 2024 30 November 2023
£ £
Due within one year
Trade debtors 5,760,392 4,420,496
Prepayments and accrued income 1,473,994 443,121
Other debtors 101,752 4
Net wages - 11,477
7,336,138 4,875,098
Due after more than one year
Deferred tax current asset 9,263 20,884
9,263 20,884
7,345,401 4,895,982
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11. Creditors: Amounts Falling Due Within One Year
30 November 2024 30 November 2023
£ £
Trade creditors 3,095,904 1,654,944
Bank loans and overdrafts 5,827 17,201
Other taxes and social security 1,139,597 254,745
VAT 1,079,399 195,747
Net wages 210,297 -
Other creditors 2,010,536 2,284,541
Accruals and deferred income 19,375 8,000
7,560,935 4,415,178
12. Creditors: Amounts Falling Due After More Than One Year
30 November 2024 30 November 2023
£ £
Bank loans 23,166 27,649
Other creditors (1) 90,000 1,268,305
113,166 1,295,954
The Bounce Back Loan of £50,000 was taken in May 2021, The current loan position is £28,993.36 and the Loan is unsecured. of which £ 5,827.14 payable within one year and £23,166.2 payable long term.
13. Loans
An analysis of the maturity of loans is given below:
30 November 2024 30 November 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 5,827 17,201
5,827 17,201
30 November 2024 30 November 2023
£ £
Amounts falling due between one and five years:
Bank loans 23,166 27,649
23,166 27,649
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14. Share Capital
30 November 2024 30 November 2023
Allotted, called up and fully paid £ £
600 Ordinary Shares of £ 1.000 each 600 600
1 Ordinary A shares of £ 1.000 each 1 1
1 Ordinary B shares of £ 1.000 each 1 1
1 Ordinary C shares of £ 1.000 each 1 1
1 Ordinary D shares of £ 1.000 each 1 1
604 604
15. Pension Commitments
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.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £407,347 (2023: £148,772).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
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