| REGISTERED NUMBER: |
| TEMP SOURCE LIMITED |
| Audited Financial Statements for the Year Ended 28 February 2025 |
| REGISTERED NUMBER: |
| TEMP SOURCE LIMITED |
| Audited Financial Statements for the Year Ended 28 February 2025 |
| TEMP SOURCE LIMITED (REGISTERED NUMBER: 13442239) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TEMP SOURCE LIMITED |
| Company Information |
| for the Year Ended 28 February 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 59-61 Charlotte Street |
| St Pauls Square |
| Birmingham |
| West Midlands |
| B3 1PX |
| TEMP SOURCE LIMITED (REGISTERED NUMBER: 13442239) |
| Balance Sheet |
| 28 February 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TEMP SOURCE LIMITED (REGISTERED NUMBER: 13442239) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Temp Source Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes. |
| Turnover arising from temporary placements is recognised over the period that temporary workers are provided. |
| Turnover arising from the placement of permanent candidates is recognised at the time the candidate commences full-time employment. Provision is made for the expected cost of meeting obligations where employees do not work for the specified contractual period. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| 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. |
| 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. |
| TEMP SOURCE LIMITED (REGISTERED NUMBER: 13442239) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Factoring arrangements |
| The company has entered into a confidential invoice discounting arrangement in order to assist with cash management and day to day working capital requirements. Debts approved by the factor company are assigned with recourse. Debtors are reflected gross within current assets, with the related factoring advance reflected gross within current liabilities. |
| Going concern |
| These financial statements have been prepared on a going concern basis. The Directors anticipate that the company will continue to be profitable in the forthcoming period, for the foreseeable future and will maintain positive cashflows. |
| The company retains the continued support of the fellow group companies, including parent company Jarell Limited and is supported by the groups banking facilities. |
| Operating leases |
| Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease. |
| Debtors & Creditors within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 March 2024 |
| and 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 16,151 | - |
| Prepayments |
| TEMP SOURCE LIMITED (REGISTERED NUMBER: 13442239) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Debts are transferred by assignment to a debt factor under a confidential invoice discounting arrangement. Factored debts of £206,968 (2024: 191,201) are included within trade debtors. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 10,552 | 8,245 |
| Other creditors |
| Invoice finance liability | 162,856 | 153,332 |
| Amounts due to related parties | - | 25,389 |
| Directors' current accounts | 1,808 | 4,832 |
| Accruals and deferred income |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Invoice finance | 162,856 | 153,332 |
| The factoring liability is secured by way of a floating charge over the companys assets. |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the year ended 28 February 2025 and the period ended 29 February 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is R E Sobol. |