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COMPANY REGISTRATION NUMBER: 05681746

P & S Personnel Services Ltd

Unaudited financial statements

28 February 2025

P & S Personnel Services Ltd

Statement of financial position

28 February 2025

| 2025 | 2024
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 40,474 |  | 50,496

Current assets

Debtors | 7 | 978,473 |  | 768,617 |
Cash at bank and in hand | 78,210 |  | 1,281 |
| ----------- |  | --------- |
| 1,056,683 |  | 769,898 |

Creditors: Amounts falling due within one year | 8 | ( 712,674) |  | ( 563,324) |
| ----------- |  | --------- |
Net current assets |  | 344,009 |  | 206,574
|  | --------- |  | ---------
Total assets less current liabilities |  | 384,483 |  | 257,070

Creditors: Amounts falling due after more than one year | 9 |  | ( 172,591) |  | ( 58,143)
|  | --------- |  | ---------
Net assets |  | 211,892 |  | 198,927
|  | --------- |  | ---------

Capital and reserves

Called up share capital |  | 90 |  | 90
Share premium account |  | 9,900 |  | 9,900
Capital redemption reserve |  | 10 |  | 10
Profit and loss account |  | 201,892 |  | 188,927
|  | --------- |  | ---------
Shareholders funds |  | 211,892 |  | 198,927
|  | --------- |  | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

P & S Personnel Services Ltd

Statement of financial position (continued)

28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 17 October 2025 , and are signed on behalf of the board by:

M O'Mahony
Director

Company registration number: 05681746

P & S Personnel Services Ltd

Notes to the financial statements

Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Havenbridge House, North Quay, Great Yarmouth, Norfolk, NR30 1HZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures & fittings | - | 25% reducing balance
| Motor vehicles | - | 25% reducing balance
| Equipment | - | 25% reducing balance

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 56 (2024: 50 ).
5. Tangible assets

| Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 March 2024 | 14,189 | 57,347 | 47,146 | 118,682
Additions | 1,054 | – | 2,415 | 3,469
| ------- | ------- | ------- | ---------
At 28 February 2025 | 15,243 | 57,347 | 49,561 | 122,151
| ------- | ------- | ------- | ---------
Depreciation |  |  |  |
At 1 March 2024 | 11,118 | 14,337 | 42,731 | 68,186
Charge for the year | 1,031 | 10,752 | 1,708 | 13,491
| ------- | ------- | ------- | ---------
At 28 February 2025 | 12,149 | 25,089 | 44,439 | 81,677
| ------- | ------- | ------- | ---------
Carrying amount |  |  |  |
At 28 February 2025 | 3,094 | 32,258 | 5,122 | 40,474
| ------- | ------- | ------- | ---------
At 29 February 2024 | 3,071 | 43,010 | 4,415 | 50,496
| ------- | ------- | ------- | ---------

6. Investments

| Shares in group undertakings
| £
Cost |
At 1 March 2024 and 28 February 2025 | 100
| ----
Impairment |
At 1 March 2024 and 28 February 2025 | 100
| ----

Carrying amount |
At 28 February 2025 | –
| ----
At 29 February 2024 | –
| ----

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 190,266 | 182,364
Other debtors | 788,207 | 586,253
| --------- | ---------
| 978,473 | 768,617
| --------- | ---------

The debtors above include the following amounts falling due after more than one year:

| 2025 | 2024
| £ | £
Other debtors | 136,219 | 112,042
| --------- | ---------

8. Creditors: Amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 26,364 | 16,411
Trade creditors | 5,908 | 2,565
Social security and other taxes | 616,154 | 464,573
Other creditors | 64,248 | 79,775
| --------- | ---------
| 712,674 | 563,324
| --------- | ---------

Within other creditors is a hire purchase creditor of £4,174 which is secured on the asset concerned.
9. Creditors: Amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 50,142 | 15,520
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 84,000 | –
Other creditors | 38,449 | 42,623
| --------- | -------
| 172,591 | 58,143
| --------- | -------

Other creditors relates to a hire purchase creditor of £38,449 which is secured on the asset concerned.
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 4,174 | 2,340
Later than 1 year and not later than 5 years | 38,449 | 42,623
| ------- | -------
| 42,623 | 44,963
| ------- | -------

11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 24,440 | 24,440
Later than 1 year and not later than 5 years | 73,320 | 97,760
| ------- | ---------
| 97,760 | 122,200
| ------- | ---------

12. Directors' advances, credits and guarantees
At the year end the directors owed the company a combined overdrawn balance of £606,513 (2024: £474,211). P Gibbs £217,979 (2024: £163,681) M O'Mahony £227,055 (2024: £172,269) Mrs S O'Mahony £161,479 (2024: £138,261) The maximum amount outstanding balances during the year were as follows: P Gibbs £226,618 (2024: £236,120) M O'Mahony £277,055 (2024: £200,350) Mrs S O'Mahony £176,517 (2024: £188,266)