Team Recruitment Network Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12812507

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		1,050,205		1,050,205

			1,050,205		1,050,205
CURRENT ASSETS
Cash at bank and in hand		4,705		4,092

		4,705		4,092
Creditors: Amounts Falling Due Within One Year	5	(1,070,112 )		(1,020,124 )

NET CURRENT ASSETS (LIABILITIES)			(1,065,407 )		(1,016,032 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(15,202 )		34,173

Creditors: Amounts Falling Due After More Than One Year	6		-		(42,463 )

NET LIABILITIES			(15,202 )		(8,290 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(15,302 )		(8,390 )

SHAREHOLDERS' FUNDS			(15,202)		(8,290)

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Team Recruitment Network Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr S D Bliss

Director

18/07/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Team Recruitment Network Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12812507 . The registered office is 1 Parsonage Farm Cottages, Witley, Surrey, GU8 5QH.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis. The director considers that this is appropriate as the company has the support of the director and the subsidiary.

2.3. Financial Instruments

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised costs, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.

2.4. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity secutirites are reocgnised in income when receivable.

2.5. Business Combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2.6. Group Accounts Not Prepared

The financial statements contain information about TEAM Recruitment Network Ltd and do not contain consolidated financial information as a parent of a group. The company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

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Team Recruitment Network Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2024	1,050,205

As at 31 December 2024	1,050,205

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1,050,205

As at 1 January 2024	1,050,205

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Subsidiary Undertaking

The Employment Agents Movement (UK) Limited

Registered Office

1 Parsonage Farm Cottages, Witley, Godalming, England, GU8 5QH

Holding

Ordinary Shares

Proportion of voting rights and shares held

100%

Subsidiary undertakings

The Employment Agents Movement (UK) Limited

The principal activity of The Employment Agents Movement (UK) Limited is an association for employment agencies. The profit for the financial period of The Employment Agents Movement (UK) Limited was £46,353 and the aggregate amount of capital and reserves at the end of the period was £653,461.

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1	-
Bank loans and overdrafts	42,411	47,833
Amounts owed to group undertakings	673,338	618,141
Other creditors	354,362	354,150

	1,070,112	1,020,124

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Team Recruitment Network Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	-	42,463

Bank borrowings

Bank loan is denominated in pounds sterling with a nominal interest rate of base plus 1.45%, and the final instalment is due on 1 October 2025. The carrying amount at the period end is £42,411 (2023: £90,296)

There is a fixed and floating charge upon the assets of the subsidiary, together with an omnibus guarantee and set-off agreement in respect of the borrowings.

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

8. Related Party Transactions

Mr S Bliss

Director

Mr S Bliss has financed the company and as at 31 December 2024 the company owed the director £352,562 (2023: £352,650).

The Employment Agents Movement (UK) Limited

Subsidiary

At the end of the reporting period, The Employment Agents Movement (UK) Limited owed £673,338 (2023: £618,141) to the company.

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