REGISTERED NUMBER: 09279807 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ADDITIONS CONTRACTORS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTORS:

Ms T Brister

C Ford

REGISTERED OFFICE:

Nedeham House

22 St Stephens Road

Norwich

Norfolk

NR1 3QU

REGISTERED NUMBER:

09279807 (England and Wales)

AUDITORS:

Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The company recorded a small increase in both turnover and gross profit this year which is testament to the strategies put in place. There was a major restructuring of shareholdings during the year which resulted in Able HR becoming the parent of the company, now owning 100% of the Ordinary shares.

The company's key financial indicators and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Turnover

£'000

24,952

24,156

Gross Profit

£'000

738

714

Profit/(Loss) after tax

£'000

191

187

Shareholder Funds

£'000

37

118

Current assets as a % of liabilities 101.86 (2023 - 112.36)

Average number of employees 34 (2023 - 107)

PRINCIPAL RISKS AND UNCERTAINTIES

Management have identified below a summary of the main risks that could potentially impact the business’ operating and financial performance.

Macro economic environment

The recruitment sector is particularly susceptible to changes in the economic environment. Management seek to manage this risk by continuing to diversify in the recruitment activities which assist in cushioning the impact of economic cycles and sector demand. The temporary recruitment market continues to reflect pressure, with both top line revenue and margin, as customers seek to amend requirements while reducing price. Pressure on margins in particular has been contributed to by market behaviour as recruitment suppliers and vendor management providers seek to maintain customer accounts and gain market share in the increasingly competitive environment. Management is still focused on maintaining its pricing strategy and discipline to sell on service rather than price. The cost of living and energy crisis are putting pressure on most sectors, along with the shortage of people.

Competition

Given the low barriers to entry into the recruitment market, the UK is a highly competitive and fragmented market for recruitment suppliers to enter. Our competitors range from large multinationals to small privately owned businesses and, therefore, it is imperative for the business that it builds and retains strong client relationships and key contacts.

Technology

IT plays a pivotal role in the business’ operations and, therefore, the growing dependency on IT makes the potential impact of disruptions even greater. Key IT-related risks include failure of IT infrastructure, leading to loss of service or a leakage of confidential business information. The business continues to review and improve its IT project risk management, including monitoring, security and compliance. The company is reliant on a number of technology systems and suppliers in providing its services to clients and disaster recovery solutions, which are periodically reviewed and enhanced by management. The company is not only using technology for efficiencies internally, but also to help with its offering to clients. Part of our continued plans was the implementation of upgraded software systems to improve productivity. This will hopefully provide some efficiency benefits in the coming years.

Regulatory environment

In common with many other sectors, the recruitment industry is now governed by increasing levels of regulation, bringing with them both opportunities and risks. In addition, clients now require more complex levels of compliance in their contractual arrangements with the business. Management takes its responsibilities seriously, it is committed to meeting all of its regulatory responsibilities and continues to maintain its internal controls and processes to ensure compliance with respect to legal and contractual obligations. IR35 implementation caused issues with the restriction of the use of Personal Service Companies and the wider implementation of the legislation which caused a significant shortage of contractors.

ON BEHALF OF THE BOARD:

C Ford - Director

25 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of payroll services

DIVIDENDS

Interim dividends of £271,544 were paid in the year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Ms T Brister

C Ford

Other changes in directors holding office are as follows:

M P Noake - resigned 22 October 2024

OBJECTIVES AND POLICIES

The market will remain challenging across the UK staffing industry in 2025. The biggest challenges over the next 12 months will again be the cost of living and energy crisis.

The directors will continue to spend a lot of time looking for new clients and industries to further improve the company's healthy position and overcome any uncertainty. There will remain a focus on quality, productivity of staff and management of operating costs.

The directors are not aware, at the date of this report, of any likely major changes in the company’s activities in the next year. There have been no significant events since the balance sheet date that need to be adjusted for for disclosed in the financial statements.

PRICE RISK, CREDIT RISK, LIQUIDITY RISK AND CASH FLOW RISK

Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Company policies are aimed at minimising such losses and rigorous credit checking are in place prior to the commencement of trade with a customer and at every anniversary thereafter.Details of the company’s debtors are shown in the notes to the financial statements.

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate liquidity risks by managing cash generation by its operations and applying cash collection targets across the client base.

Cash flow risks is the risk of exposure to variability in cash flows that is attributable to a particular risk associated with a recognised asset or liability such as future interest payments on a variable rate debt. The company does not have any external financial assets or liabilities with significant exposure to interest rate risk.

Employment of disabled persons

The company continues to give fair consideration to applications for employment by disabled persons, bearing in mind their abilities. In the event of an employee becoming disabled while working for the Company, every effort will be made to ensure continued employment and retraining will be provided where practicable.

Employee involvement

Internal development and opportunities for existing employees is actively encouraged because we know that it promotes morale in the team. Employees are actively encouraged to present their suggestions and views on the company's performance and allowed to offer new ideas.

Directors' liabilities

The company has granted an indemnity to one or more of its directors against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of approving the Directors’ report.

Disclosure of information to the auditors

Each director has taken steps that they 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 confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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 himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Sexty & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C Ford - Director

25 September 2025

Opinion

We have audited the financial statements of Additions Contractors Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We have made enquiries with management regarding their procedures for complying with laws and regulations along with detecting and preventing fraud. We also review minutes of meetings and any published news articles to identify any instances of non-compliance with laws and regulations.

- Evidence has been obtained where applicable. Written representation has been obtained to confirm there have been no breaches of laws and regulations.

- The audit procedures are designed so that with reasonable assurance, material misstatements can be detected, including those relating to fraud. Specifically, areas which involve provisions or estimations have been tested where material.

- We consider our approach to be reasonable for this entity.

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.

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 we are required to state to them in a Report of the Auditors 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.

I A Barlow (Senior Statutory Auditor)

for and on behalf of Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

25 September 2025

TURNOVER

24,952,463

24,155,592

Cost of sales

24,214,493

23,441,769

GROSS PROFIT

737,970

713,823

Administrative expenses

482,355

468,557

OPERATING PROFIT

4

255,615

245,266

Interest receivable and similar income

27

23

PROFIT BEFORE TAXATION

255,642

245,289

Tax on profit

6

65,005

57,942

PROFIT FOR THE FINANCIAL YEAR

190,637

187,347

PROFIT FOR THE YEAR

190,637

187,347

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

190,637

187,347

FIXED ASSETS

Tangible assets

8

3,328

4,032

CURRENT ASSETS

Debtors

9

1,611,982

673,970

Cash at bank and in hand

10

241,641

362,415

1,853,623

1,036,385

CREDITORS

Amounts falling due within one year

11

1,819,670

922,229

NET CURRENT ASSETS

33,953

114,156

TOTAL ASSETS LESS CURRENT LIABILITIES

37,281

118,188

CAPITAL AND RESERVES

Called up share capital

12

101

101

Retained earnings

13

37,180

118,087

SHAREHOLDERS' FUNDS

37,281

118,188

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

C Ford - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

97

94,829

94,926

Changes in equity

Issue of share capital

4

-

4

Dividends

-

(164,089

)

(164,089

)

Total comprehensive income

-

187,347

187,347

Balance at 31 December 2023

101

118,087

118,188

Changes in equity

Dividends

-

(271,544

)

(271,544

)

Total comprehensive income

-

190,637

190,637

Balance at 31 December 2024

101

37,180

37,281

Cash flows from operating activities

Cash generated from operations

1

209,090

498,286

Tax paid

(57,942

)

(49,150

)

Net cash from operating activities

151,148

449,136

Cash flows from investing activities

Purchase of tangible fixed assets

(405

)

(3,649

)

Interest received

27

23

Net cash from investing activities

(378

)

(3,626

)

Cash flows from financing activities

Share issue

-

4

Equity dividends paid

(271,544

)

(164,089

)

Net cash from financing activities

(271,544

)

(164,085

)

(Decrease)/increase in cash and cash equivalents

(120,774

)

281,425

Cash and cash equivalents at beginning of year

2

362,415

80,990

Cash and cash equivalents at end of year

2

241,641

362,415

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

255,642

245,289

Depreciation charges

1,109

694

Finance income

(27

)

(23

)

256,724

245,960

(Increase)/decrease in trade and other debtors

(938,012

)

312,192

Increase/(decrease) in trade and other creditors

890,378

(59,866

)

Cash generated from operations

209,090

498,286

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

241,641

362,415

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

362,415

80,990

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

362,415

(120,774

)

241,641

362,415

(120,774

)

241,641

Total

362,415

(120,774

)

241,641

1.	STATUTORY INFORMATION

Additions Contractors 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

181,917

199,756

Social security costs

15,814

17,108

Other pension costs

3,125

2,908

200,856

219,772

The average number of employees during the year was as follows:

2024

2023

Administration and support

6

8

Sales, marketing and distribution

28

99

34

107

2024

2023

£

£

Directors' remuneration

17,300

17,300

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Other operating leases

18,673

18,496

Depreciation - owned assets

1,109

693

5.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,000

8,000

Auditors remuneration during the year in relation to non-audit services was £5,018 (2023 - nil).

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

65,005

57,942

Tax on profit

65,005

57,942

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

255,642

245,289

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

63,911

61,322

Effects of:

Expenses not deductible for tax purposes

1,406

623

Capital allowances in excess of depreciation

-

(738

)

Depreciation in excess of capital allowances

176

-

Adjustments to tax charge in respect of previous periods

4

-

Rounding provision

(492

)

-

Adjustment relating to blended corporation tax rate

-

(3,265

)

Total tax charge

65,005

57,942

7.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £0.01 each

Interim

226,544

118,069

B Class share of £1.00

Interim

45,000

46,020

271,544

164,089

8.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

3,427

4,968

8,395

Additions

-

405

405

At 31 December 2024

3,427

5,373

8,800

DEPRECIATION

At 1 January 2024

3,086

1,277

4,363

Charge for year

85

1,024

1,109

At 31 December 2024

3,171

2,301

5,472

NET BOOK VALUE

At 31 December 2024

256

3,072

3,328

At 31 December 2023

341

3,691

4,032

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,298,075

578,449

Other debtors

7,463

-

Prepayments and accrued income

306,444

95,521

1,611,982

673,970

10.	CASH AT BANK AND IN HAND

2024

2023

£

£

Cash at bank

241,484

362,258

Cash in hand

157

157

241,641

362,415

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

31,400

33,970

Tax

65,000

57,937

Social security and other taxes

360,321

331,401

VAT

326,682

330,948

Other creditors

758,892

90,285

Accrued expenses

277,375

77,688

1,819,670

922,229

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

£0.01

100

100

1

B Class

£1.00

1

1

101

101

13.

RESERVES

Retained

earnings

£

At 1 January 2024

118,087

Profit for the year

190,637

Dividends

(271,544

)

At 31 December 2024

37,180