Company No: SC285783 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	7,124		8,053
		7,124		8,053
Current assets
Debtors	4	1,300,481		909,530
Cash at bank and in hand		205,389		161,186
		1,505,870		1,070,716
Creditors: amounts falling due within one year	5	( 1,075,735)		( 622,152)
Net current assets		430,135		448,564
Total assets less current liabilities		437,259		456,617
Creditors: amounts falling due after more than one year	6	( 1,168)		( 13,472)
Provision for liabilities		( 481)		( 831)
Net assets		435,610		442,314
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		435,510		442,214
Total shareholder's funds		435,610		442,314

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of NAS Recruitment Services (Scotland) Limited (registered number: SC285783) were approved and authorised for issue by the Board of Directors on 02 November 2025. They were signed on its behalf by:

J G Mcilduff Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NAS Recruitment Services (Scotland) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Nas House, 2 Fairbairn Place, Livingston, EH54 6TN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under hire purchase contracts, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Tangible assets

	Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 May 2024	13,208		3,130		32,771		49,109
Additions	0		83		1,293		1,376
At 30 April 2025	13,208		3,213		34,064		50,485
Accumulated depreciation
At 01 May 2024	6,033		3,037		31,986		41,056
Charge for the financial year	1,794		32		479		2,305
At 30 April 2025	7,827		3,069		32,465		43,361
Net book value
At 30 April 2025	5,381		144		1,599		7,124
At 30 April 2024	7,175		93		785		8,053

4. Debtors

	2025		2024
	£		£
Trade debtors	898,993		492,108
Amounts owed by Group undertakings (note 9)	398,025		398,025
Other debtors	3,463		19,397
	1,300,481		909,530

The amount of factored debts included in trade debtors is £709,437 (2024 - £217,465).

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		7,946
Trade creditors	7,176		460
Amounts owed to directors (note 9)	27		0
Accruals	118,702		84,156
Taxation and social security	346,371		277,563
Obligations under finance leases and hire purchase contracts	1,186		1,054
Other creditors	602,273		250,973
	1,075,735		622,152

Included in bank loans are amounts advanced to the company under the bounce back loan scheme. This loan is covered by a government backed guarantee.

Net obligations under hire purchase contracts are secured over the related assets.

Included within other creditors is an amount due to Ultimate Invoice Finance Limited of £528,254 (2024 - £189,862), the amount is secured by a floating charge over all the assets of the company.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		11,118
Obligations under finance leases and hire purchase contracts	1,168		2,354
	1,168		13,472

Included in bank loans are amounts advanced to the company under the bounce back loan scheme. This loan is covered by a government backed guarantee.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each	50		50
50 B ordinary shares of £ 1.00 each	50		50
	100		100

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	107,084		149,695

9. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

Transactions with the entity’s directors (or members of its governing body)

Amounts owed by directors

	2025		2024
	£		£
Directors loan account	0		10,873

Amounts owed to directors

	2025		2024
	£		£
Directors loan account	27		0

Advances totalling £1,700 have been made to the directors in this period and £12,600 has been repaid. This balance is unsecured, interest free and repayable on demand.