REGISTERED NUMBER: 09315194 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE PLACEMENT GROUP NURSING LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr E C Simpson

Mr S Porter

REGISTERED OFFICE:

110 Brooker Road

Waltham Abbey

Essex

EN9 1JH

REGISTERED NUMBER:

09315194 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

CURRENT ASSETS

Debtors

2,803,312

2,542,276

Cash at bank

1,660,104

1,603,384

4,463,416

4,145,660

CREDITORS

Amounts falling due within one year

1,259,572

1,146,862

NET CURRENT ASSETS

3,203,844

2,998,798

TOTAL ASSETS LESS CURRENT LIABILITIES

3,203,844

2,998,798

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

3,203,843

2,998,797

SHAREHOLDERS' FUNDS

3,203,844

2,998,798

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 September 2025 and were signed on its behalf by:

Mr E C Simpson - Director

1.	STATUTORY INFORMATION

The Placement Group Nursing Ltd 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 (£).

All values are rounded to the nearest pound.

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.

Assessment of going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts.

The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due.

Critical accounting judgements

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The items in the accounts where these judgements and estimates have been made, include:

- assessing the recoverability of outstanding debtors; and

- determining the fees charged between group companies with regards to usage of brands held.

Turnover

Turnover is the amount derived from the provision of primary healthcare services and facilities, net of value added tax. Turnover is recognised as services are performed.

Turnover which has not been invoiced but has been recognised is included in accrued income. Any amounts invoiced in advance are included in deferred income.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

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 that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

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

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions.

Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the 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 differences.

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.

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.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 51 ) .

4.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Invoice financing - Clydesdale

318,497

147,258

The other creditors at the balance sheet date contain a liability of £318,497 (2023 - £147,258) in respect of proceeds received from Clydesdale Bank plc.

Funding advance from Clydesdale Bank plc is secured by a charge over the book debts of the company and a debenture over the assets and underthings of the company. At the balance sheet date there were no such advances owed by the company.

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thurairatnam Sudarshan, FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited, Statutory Auditor

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

7.	PARENT COMPANY

The Placement Group (Holdings) Plc, a company registered in England and Wales, is the immediate and ultimate parent company for which consolidated accounts are prepared. The Placement Group (Holdings) Plc's registered office is 110 Brooker Road, Waltham Abbey, Essex EN9 1JH.