REGISTERED NUMBER: 07328342 (England and Wales)

TIME 4 RECRUITMENT SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G T Lillywhite

K Martin

REGISTERED OFFICE:

167 Broadway

Cardiff

SOUTH GLAMORGAN

CF24 1QH

REGISTERED NUMBER:

07328342 (England and Wales)

FIXED ASSETS

Tangible assets

4

5,311

5,703

CURRENT ASSETS

Debtors

5

1,260,593

1,156,624

Cash at bank and in hand

279,276

285,850

1,539,869

1,442,474

CREDITORS

Amounts falling due within one year

6

1,188,291

1,110,550

NET CURRENT ASSETS

351,578

331,924

TOTAL ASSETS LESS CURRENT LIABILITIES

356,889

337,627

PROVISIONS FOR LIABILITIES

9

578

-

NET ASSETS

356,311

337,627

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

356,211

337,527

SHAREHOLDERS' FUNDS

356,311

337,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

G T Lillywhite - Director

1.	STATUTORY INFORMATION

Time 4 Recruitment Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Change in audit status

These financial statements for the year ended 30 December 2024 are unaudited. The financial statements for the year ended 30 December 2023 were audited.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors have prepared forecasts for the next 12 months from the date of signing of this report. The directors believe that these forecasts are based on realistic income assumptions and are confident that the company will continue to be able to meet its liabilities as they fall due.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Impairment of debtors - The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the aging profile of debtors and historical experience.

Turnover recognition

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

Rendering of services

Turnover represents the provision of temporary and permanent workers to customers and clients. Turnover is recognised on the completion of approved timesheets for temporary workers and upon commencement of a placement for permanent workers. Turnover is stated as invoiced and is net of discounts and rebates and excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Tangible assets are stated at cost less accumulated depreciation and impairment losses to arrive at the carrying value in the financial statements. The cost of a tangible asset includes the original purchase price, delivery costs, and costs directly attributable to bringing the asset to its working condition for its intended use.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

The company has not claimed any research and development expenditure during the period.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rental paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 31 December 2023

1,618

82,344

83,962

Additions

212

1,863

2,075

At 30 December 2024

1,830

84,207

86,037

DEPRECIATION

At 31 December 2023

1,618

76,641

78,259

Charge for year

25

2,442

2,467

At 30 December 2024

1,643

79,083

80,726

NET BOOK VALUE

At 30 December 2024

187

5,124

5,311

At 30 December 2023

-

5,703

5,703

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Trade debtors

1,126,320

1,023,065

Other debtors

134,273

133,559

1,260,593

1,156,624

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Bank loans and overdrafts (see note 7)

5,503

-

Trade creditors

21,086

19,017

Taxation and social security

154,724

151,135

Other creditors

1,006,978

940,398

1,188,291

1,110,550

7.

LOANS

An analysis of the maturity of loans is given below:

30.12.24

30.12.23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

5,503

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.12.24

30.12.23

£

£

Bank overdraft

5,503

-

Sales Financing

806,103

748,596

811,606

748,596

Sales financing by HSBC Invoice (UK) Ltd holds a Fixed and Floating charge over the Company's assets including book debts and related rights as security.

9.	PROVISIONS FOR LIABILITIES

30.12.24

£

Deferred tax

578

Deferred

tax

£

Balance at 31 December 2023

(8,604

)

Temporary timing differences

9,182

Balance at 30 December 2024

578

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.12.24

30.12.23

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 31 December 2023

337,527

Profit for the year

103,084

Dividends

(84,400

)

At 30 December 2024

356,211

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 December 2024 and 30 December 2023:

30.12.24

30.12.23

£

£

G T Lillywhite

Balance outstanding at start of year

(32,255

)

(18,392

)

Amounts advanced

(42,406

)

(42,508

)

Amounts repaid

42,200

28,645

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(32,461

)

(32,255

)

K Martin

Balance outstanding at start of year

(59,325

)

(45,307

)

Amounts advanced

(35,464

)

(42,663

)

Amounts repaid

42,200

28,645

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(52,589

)

(59,325

)

The directors loan account included within debtors falling due within 1 years, are repayable on demand and interest free.

13.	RELATED PARTY DISCLOSURES

14.	ULTIMATE CONTROLLING PARTY