Ewart Smart Solutions Limited

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—4
Consolidated Profit and Loss Account	5
Consolidated Balance Sheet	6
Company Balance Sheet	7
Consolidated Statement of Changes in Equity	8
Company Statement of Changes in Equity	9
Consolidated Statement of Cash Flows	10
Notes to the Consolidated Statement of Cash Flows	11
Notes to the Financial Statements	12—20

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

Principal Activity

The group's principal activity continues to be that of recruitment consultants.

Review of the Business

Key Performance Indicators

The director believes the following to be the Company’s financial key performance indicators:

2024

Gross Profit Margin 18.75%

The Company’s results are in line with management expectations for the period.

Principal Risks and Uncertainties

While robust systems and controls are in place to identify, monitor and mitigate risk, the following remain the most material uncertainties to the business:

• Market and Economic Risk: The recruitment sector is highly sensitive to wider economic conditions. Ongoing inflationary pressures, political uncertainty and fluctuations in public sector spending all have the potential to impact demand for staffing services. The Company mitigates this risk through maintaining strong client relationships diversification across clients and offering flexible solutions that adapt to changing market conditions.

• Regulatory and Compliance Risk: Frequent changes in employment legislation and compliance requirements present an ongoing challenge. The Company mitigates this risk through a dedicated compliance function, continuous monitoring of legislative change and proactive client engagement to ensure readiness for new requirements.

• Liquidity and Financial Risk: Liquidity risk arises from the potential for clients to delay payments or from unforeseen pressures on cash flow. This can impact the Group's ability to meet financial obligations as they fall due. To manage this risk, the Group operates strong credit control processes, undertakes regular cash flow forecasting and ensures a balanced spread of clients across sectors to reduce dependency on any single revenue stream.

Future Developments

The Group remains focused on delivering sustainable growth. Over the next financial year, the Group will:

• Continue to invest in technology and systems to improve client delivery, efficiency and candidate experience.

• Build on its compliance function to ensure readiness for forthcoming regulatory changes, including updates to employment law and framework requirements.

• Maintain disciplined financial management to support ongoing investment and stability.

• Explore opportunities for growth in both existing and complementary markets.

The Group also recognises the vital role of its people in driving success. Significant investment has been made in attracting and retaining talented staff across all areas of the business, creating a strong platform for growth. With an experienced and motivated team in place, the Group is well positioned to deliver on its strategic priorities and respond positively to opportunities in the year ahead.

On behalf of the board

Mr Christian Ewart

Director

29 September 2025

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Ewart Smart Solutions Limited

Company No. 15677180

Directors' Report For the Period 24 April 2024 to 31 December 2024

Directors' Report

The directors present their report and the financial statements for the period ended 31 December 2024.

Directors

The directors who held office during the period were as follows:

Mr Christian Ewart	Appointed	24/04/2024
Mr Ryan Smart	Appointed	24/04/2024

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 Strategic Report, 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the group and of the profit or loss of the group 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;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
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 and group's auditors are aware of that information.

Independent Auditors

The auditors, JWR Audit Ltd, 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 Christian Ewart

Director

29 September 2025

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Independent Auditor's Report

to the Members of

Ewart Smart Solutions Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Ewart Smart Solutions Limited (the "parent company") and its subsidiaries (the "group") for the period ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated 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 group's and of the parent company's affairs as at 31 December 2024 and of the group's profit/(loss) for the period 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 group and parent 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 group and parent company's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 period 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.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company 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.

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Independent Auditor's Report (continued)

to the Members of

Ewart Smart Solutions Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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 group and parent 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 group or the parent 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 an auditor's report 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 designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

Procedures performed by the audit team included:

Discussions with management regarding known or suspected instances of non-compliance with laws and regulations;

Evaluation of controls designed to prevent and detect irregularities; and

Assessing journals entries as part of our planned audit approach.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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.

Katie Wood FCA FCCA (Senior Statutory Auditor)

for and on behalf of JWR Audit Ltd , Statutory Auditor

29 September 2025

JWR Audit Ltd

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

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Ewart Smart Solutions Limited

Consolidated Profit and Loss Account

For the Period 24 April 2024 to 31 December 2024

Consolidated Profit and Loss Account

		31 December 2024
	Notes	£
TURNOVER		7,269,260
Cost of sales		(5,905,971 )

GROSS PROFIT		1,363,289

Administrative expenses		(1,242,719 )
Other operating income		68,888

OPERATING PROFIT	5	189,458
Other interest receivable and similar income	10	335
Interest payable and similar charges	11	(88,363 )

PROFIT BEFORE TAXATION		101,430
Tax on Profit	12	(36,325 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD ATTRIBUTABLE TO THE OWNERS OF THE PARENT		65,105

The notes on pages 11 to 20 form part of these financial statements.

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Ewart Smart Solutions Limited

Consolidated Balance Sheet

As At 31 December 2024

Consolidated Balance Sheet

Registered number: 15677180

		31 December 2024
	Notes	£	£
FIXED ASSETS
Intangible Assets	13		1,000,646
Tangible Assets	14		990

			1,001,636
CURRENT ASSETS
Debtors	16	2,111,423
Cash at bank and in hand		30,565

		2,141,988
Creditors: Amounts Falling Due Within One Year	17	(2,747,347 )

NET CURRENT ASSETS (LIABILITIES)			(605,359 )

TOTAL ASSETS LESS CURRENT LIABILITIES			396,277

Creditors: Amounts Falling Due After More Than One Year	18		(314,352 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	21		(16,200 )
Deferred Taxation	20		(220 )

NET ASSETS			65,505

CAPITAL AND RESERVES
Called up share capital	22		400
Profit and Loss Account			65,105

SHAREHOLDERS' FUNDS			65,505

On behalf of the board

Mr Christian Ewart

Director

29 September 2025

The notes on pages 11 to 20 form part of these financial statements.

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Ewart Smart Solutions Limited

Company Balance Sheet

As At 31 December 2024

Company Balance Sheet

Registered number: 15677180

		31 December 2024
	Notes	£	£
FIXED ASSETS
Investments	15		805,902

			805,902
CURRENT ASSETS
Debtors	16	16,194
Cash at bank and in hand		648

		16,842
Creditors: Amounts Falling Due Within One Year	17	(823,646 )

NET CURRENT ASSETS (LIABILITIES)			(806,804 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(902 )

NET LIABILITIES			(902 )

CAPITAL AND RESERVES
Called up share capital	22		400
Profit and Loss Account			(1,302 )

SHAREHOLDERS' FUNDS			(902)

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's loss for the period was £(1,302 ) .

On behalf of the board

Mr Christian Ewart

Director

29 September 2025

The notes on pages 11 to 20 form part of these financial statements.

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Ewart Smart Solutions Limited

Consolidated Statement of Changes in Equity

For the Period 24 April 2024 to 31 December 2024

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 24 April 2024	400	-	400
Profit for the period and total comprehensive income	-	65,105	65,105

Dividends paid	-	-	-

As at 31 December 2024	400	65,105	65,505

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Ewart Smart Solutions Limited

Company Statement of Changes in Equity

For the Period 24 April 2024 to 31 December 2024

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 24 April 2024	400	-	400
Loss for the period and total comprehensive income	-	(1,302 )	(1,302)

As at 31 December 2024	400	(1,302 )	(902)

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Ewart Smart Solutions Limited

Consolidated Statement of Cash Flows

For the Period 24 April 2024 to 31 December 2024

Consolidated Statement of Cash Flows

		31 December 2024
	Notes	£
Cash flows from operating activities
Net cash generated from operations	1	567,982
Interest paid		(88,363 )
Tax paid		(66,026 )

Net cash generated from operating activities		413,593

Cash flows from investing activities
Purchase of intangible assets		(237,464 )
Interest received		335
Net cash acquired with subsidiaries		48,590

Net cash used in investing activities		(188,539 )

Cash flows from financing activities
Proceeds from issue of share capital		400
Repayment of bank borrowings		(50,000 )
Repayment of other loans		(13,341)
Amount introduced by directors		230,000
Amount withdrawn by directors		(185,733)
Loans from associates		(175,815)

Net cash used in financing activities		(194,489 )



Increase in cash and cash equivalents		30,565
Cash and cash equivalents at beginning of period	2	-

Cash and cash equivalents at end of period	2	30,565

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Ewart Smart Solutions Limited

Notes to the Consolidated Statement of Cash Flows

For the Period 24 April 2024 to 31 December 2024

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial period to cash generated from operations

	31 December 2024
	£
Profit for the financial period	65,105
Adjustments for:
Tax on profit	36,325
Interest expense	88,363
Interest income	(335 )
Amortisation of intangible assets	52,666
Depreciation of tangible assets	6,642
Movements in working capital:
Decrease in trade and other debtors	335,967
Decrease in trade and other creditors	(7,031 )
Provisions for charges	(9,720)

Net cash generated from operations	567,982

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:

	31 December 2024
	£
Cash at bank and in hand	30,565

3. Analysis of changes in net debt

	As at 24 April 2024	Cash flows	Acquisition and disposal of subsidiaries	As at 31 December 2024
	£	£	£	£
Cash at bank and in hand	-	(18,025)	48,590	30,565
Debts falling due within one year	-	13,341	(166,550)	(153,209 )
Debts falling due after more than one year	-	50,001	(364,353)	(314,352)

	-	45,317	(482,313)	(436,996)

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Ewart Smart Solutions Limited

Notes to the Financial Statements

For the Period 24 April 2024 to 31 December 2024

Notes to the Financial Statements

1. General Information

Ewart Smart Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15677180 . The registered office is 24 Picton House Westside View, Waterlooville, PO7 7SQ.

2. Statement of Compliance

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

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

3. Accounting Policies

3.1. 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.

The financial statements have been prepared under the historical cost convention.

3.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2024.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

3.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

3.4. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The parent company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
the requirements of Section 26 Share-based Payment paragraphs 26.18 (b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.5. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.

3.6. Significant judgements and estimations

In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

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.

3.7. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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.

3.8. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.

Goodwill is amortised over its expected useful life which is estimated to be 10 years.

Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.

3.9. 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:

Fixtures & Fittings	33% straight line
Computer Equipment	33% straight line

3.10. 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.

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

3.11. 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 group'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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

4. Other Operating Income

	31 December 2024
	£
Rental income	16,625
Other operating income	52,263

	68,888

5. Operating Profit

The operating profit is stated after charging:

	31 December 2024
	£
Bad debts	(38,856)
Depreciation of tangible fixed assets	6,642
Amortisation of intangible fixed assets	52,666

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the period was as follows:

	31 December 2024
	£
Audit Services
Audit of the group and company's financial statements	16,700

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	31 December 2024
	£
Wages and salaries	938,293
Social security costs	109,922
Other pension costs	20,360

	1,068,575

8. Average Number of Employees

Group

Average number of employees, including directors, during the period was: 67

Company

Average number of employees, including directors, during the period was: 2

9. Directors' remuneration

	31 December 2024
	£
Emoluments	3,143

10. Interest Receivable and Similar Income

	31 December 2024
	£
Interest on DLA	335

11. Interest Payable and Similar Charges

	31 December 2024
	£
Bank loans and overdrafts	2,938
Interest payable on other loans	32,067
Factoring charges	51,763
Late payment tax charges	1,595

	88,363

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

12. Tax on Profit

	31 December 2024
The tax charge on the profit for the period was as follows:
	£
Current tax
UK Corporation Tax	1,304
Deferred Tax
Deferred taxation	35,021


Total tax charge for the period	36,325


The actual charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
	31 December 2024
	£
Profit before tax	101,430

Tax on profit at 0% (UK standard rate)	25,356
Goodwill/depreciation not allowed for tax	6,378
Expenses not deductible for tax purposes	7,716
Tax losses utilised	(6,804 )
Capital allowances	(133 )
Short term timing differences	3,812

Total tax charge for the period	36,325

13. Intangible Assets

Group

	Goodwill
	£
Cost
As at 24 April 2024	-
Additions	1,053,312

As at 31 December 2024	1,053,312

Amortisation
As at 24 April 2024	-
Provided during the period	52,666

As at 31 December 2024	52,666

Net Book Value
As at 31 December 2024	1,000,646

As at 24 April 2024	-

Company

The company had no intangible fixed assets as at 31 December 2024.

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

14. Tangible Assets

Group

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 24 April 2024	-	-	-
Other	5,263	2,369	7,632

As at 31 December 2024	5,263	2,369	7,632

Depreciation
As at 24 April 2024	-	-	-
Provided during the period	5,028	1,614	6,642

As at 31 December 2024	5,028	1,614	6,642

Net Book Value
As at 31 December 2024	235	755	990

As at 24 April 2024	-	-	-

Company

The company had no tangible fixed assets as at 31 December 2024.

15. Investments

Company

	Subsidiaries
	£
Cost
As at 24 April 2024	-
Additions	805,902

As at 31 December 2024	805,902

Provision
As at 24 April 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	805,902

As at 24 April 2024	-

Subsidiaries

Details of the group's subsidiaries as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Ewart Cooper Limited	07252757	Ordinary	100.00%	-
Build Recruitment Limited	07280283	Ordinary	100.00%	-
Build Recruitment Group Limited	10154311	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the period of the subsidiaries listed above was as follows:

Under section 479C of the Companies Act 2006, Ewart Smart Solutions Limited , registration number 15677180 , being the parent undertaking has guaranteed the liabilities of the following subsidiaries in order that they qualify for the exemption from audit under section 479A of the Companies Act 2006 in respect of the year ended 31 December 2024:

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

Name of undertaking	Registered Number
Ewart Cooper Limited	07252757
Build Recruitment Group Limited	10154311

16. Debtors

	Group	Company
	31 December 2024	31 December 2024
	£	£
Due within one year
Trade debtors	1,654,417	-
Other debtors	457,006	16,194

	2,111,423	16,194

17. Creditors: Amounts Falling Due Within One Year

	Group	Company
	31 December 2024	31 December 2024
	£	£
Trade creditors	96,643	-
Bank loans and overdrafts	100,000	-
Other loans	53,209	-
Amounts owed to group undertakings	-	329,043
Amounts owed to participating interests	122,198	-
Other creditors	1,749,931	493,303
Corporation tax	93,188	-
Taxation and social security	312,866	-
Accruals and deferred income	219,312	1,300

	2,747,347	823,646

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

	Group
	31 December 2024
	£
Bank loans	33,333
Other loans	281,019

	314,352

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

19. Loans

An analysis of the maturity of loans is given below:

	Group
	31 December 2024
	£
Amounts falling due within one year or on demand:
Bank loans	100,000
Other loans	53,209

	153,209

	Group
	31 December 2024
	£
Amounts falling due between one and five years:
Bank loans	33,333
Other loans	281,019

	314,352

20. Deferred Taxation

The provision for deferred tax is made up as follows:

	31 December 2024
	£
Accelerated capital allowances	220

21. Provisions for Liabilities

Group
	Deferred Tax	Other Provisions	Total
	£	£	£
Additions	220	16,200	16,420

Balance at 31 December 2024	220	16,200	16,420

22. Share Capital

	31 December 2024
Allotted, called up and fully paid	£
400 Ordinary Shares of £ 1.00 each	400

23. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the period the charge to the profit and loss account in respect of defined contribution schemes was £20,360.

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

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Ewart Smart Solutions Limited

Notes to the Financial Statements (continued)

For the Period 24 April 2024 to 31 December 2024

24. Directors Advances, Credits and Guarantees

Included within Debtors/(Creditors) are the following loans to/(from) directors:

	As at 24 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Christian Ewart	-	59,317	-	-	59,317
Mr Ryan Smart	-	(60,796 )	-	-	(60,796 )

The above loan is unsecured, interest free and repayable on demand.

25. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

26. Controlling Parties

The company's ultimate controlling party is C Ewart by virtue of their interest in the share capital of the company.

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