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REGISTERED NUMBER: 02684652 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

AMBITIONS PERSONNEL LIMITED

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 31 May 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Statement of Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Cash Flow Statement | 12 |

| Notes to the Cash Flow Statement | 13 |

| Notes to the Financial Statements | 14 |

| AMBITIONS PERSONNEL LIMITED |

COMPANY INFORMATION

For The Year Ended 31 May 2025

| DIRECTORS: | A A Watson

| C L Bishop

| P A Haggar

| SECRETARY: | A A Watson

| REGISTERED OFFICE: | 21 Lombard Street

| Newark

| Nottinghamshire

| NG24 1XG

| REGISTERED NUMBER: | 02684652 (England and Wales)

| AUDITORS: | TC Group

| 1 Rushmills

| Bedford Road

| Northampton

| Northamptonshire

| NN4 7YB

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

STRATEGIC REPORT

For The Year Ended 31 May 2025

The directors present their strategic report for the year ended 31 May 2025.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and the non-complex nature of our business and is written in the context of risk and uncertainties we face.

As an employment agency, the Company has continued to provide labour into many different sectors of commerce and industry. Amongst others a large number of these are packing and food processing companies.

PRINCIPAL RISKS AND UNCERTAINTIES

Regulatory environment risk

The continual increase in employment law and regulations is a major challenge to the company as it keeps abreast of changes in the law and the court interpretation of employment regulations. The Company is therefore vigilant to such risks and has been inspected on various occasions. None of these inspections have given the directors any major concerns and have been a vindication of the internal control systems the systems the Company operates.

A significant issue that remains a risk to the Company is Brexit and immigration. A large percentage of the Company's workforce are from EU countries so limiting the movement of labour to the UK harms the company's ability to employ staff.

Commercial risk

The directors are aware that one risk is the concentration of turnover on particular clients. We have attracted additional new clients in the past to reduce this concentration and are continuing efforts to do this going forward.

Liquidity risk

The company makes efforts to manage financial risk by the monitoring of cash-flow to meet operational and investment requirements.

Price risk

The company is exposed to price risk due to normal inflationary increases in the purchase price of goods and services along with the increase in national minimum wage. The company has no exposure to equity securities price risk as it holds no listed or other equity instruments.

OPERATIONS

The past growth of the Company has been achieved organically via expansion at existing branches and the opening of new branches.

The Company continues to look at opportunities to grow organically. One particular area that has continued to allow the Company to deal more directly with client needs in a cost effective manner, is the establishment, in conjunction with our larger clients, of offices on their premises. These offices mean we can deal with client issues as they arise and also allows us to deal with issues raised by our temporary staff in an efficient and effective way. This system also gives employees good communication with the site managers.

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

STRATEGIC REPORT

For The Year Ended 31 May 2025

To enable the Company to attract new clients and retain existing ones the Company is committed to providing quality service and care to all clients through its workforce both permanent and temporary. The establishment of further on site offices has greatly assisted the serving of larger clients. The Company's diverse office base helps ensure that the Company can provide a wide catchment area of labour for their clients whilst expansion of their operating areas provides the ability to attract new clients from a wide geographical area.

New contracts have been gained and the directors are constantly assessing if it is appropriate to open new branches to service clients. This has continued to allow the Company to attract a general mix of SME and PLC clients in a variety of industries.

With the risks and uncertainties in mind, we are aware that any plans for future development of the business may be subject to unforeseen future events outside of our control

EMPLOYEES

The Company is committed to the welfare of all employees and continues to attract and retain employees through this reputation. All staff receive appropriate health and safety training and, where applicable, food hygiene training.

A number of permanent employees are now located on site at clients to maintain our customer service.

RESULTS AND KEY PERFORMANCE INDICATORS

Results for the financial year under review saw turnover increase by £4.2m to £43.9m, an increase of 10.5%. The company has generated a profit before tax of £0.8m (2024: £1.4m).

With regards to the statement of financial position, net assets increased in the period to £0.9m (2024: £0.6m).

ON BEHALF OF THE BOARD:

A A Watson - Director

25 November 2025

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

REPORT OF THE DIRECTORS

For The Year Ended 31 May 2025

The directors present their report with the financial statements of the company for the year ended 31 May 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the operation of an employment agency providing temporary and permanent staff to employers within the United Kingdom.

DIVIDENDS

No interim dividends were paid during the year on any of the shares.

The directors recommend a final dividend per share as follows:

A Ordinary 0.1p | - £0.74294

B Ordinary 0.1p | - £0.74294

D Ordinary 0.1p | - £2.24464

E Ordinary 0.1p | - £2.24464

The total distribution of dividends for the year ended 31 May 2025 will be £ 300,560 .

FUTURE DEVELOPMENTS

The company intends to continue its present management policies for the foreseeable future and will continue to seek to grow the business through organic growth.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 June 2024 to the date of this report.

A A Watson

C L Bishop

P A Haggar

ENGAGEMENT WITH EMPLOYEES

The Company encourages recruitment of the best person for the job regardless of gender, marital status, ethnic origin, disability, religious belief or age.

The Company is committed to the principle of equal opportunity and offers this to all staff in matters of career advancement, providing that they have the ability to perform their duties with or without training where necessary. If a member of staff becomes disabled whilst employed by the Company, retraining will be provided where required.

The Company places considerable value on the involvement of its employees and has continued its practice of keeping them informed of matters affecting them as employees, and on various matters affecting the performance of the Company.

The Company has a policy for recruitment of disabled persons and this includes a requirement to make reasonable adjustments to take disabilities into account. The Company makes career opportunities available to all people with disabilities and every practical effort will be made to provide for the needs of staff, candidates and clients. The same career development and promotion opportunities are made available to all of those within the company, regardless of disability

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

REPORT OF THE DIRECTORS

For The Year Ended 31 May 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | 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's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A A Watson - Director

25 November 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

AMBITIONS PERSONNEL LIMITED

Opinion

We have audited the financial statements of Ambitions Personnel Limited (the 'company') for the year ended 31 May 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit for the year 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

AMBITIONS PERSONNEL LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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 design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,including fraud.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

AMBITIONS PERSONNEL LIMITED

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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

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 we are required to state to them in a Report of the Auditors 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.

Emma Jones FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

26 November 2025

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

STATEMENT OF COMPREHENSIVE

INCOME

For The Year Ended 31 May 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 43,916,052 |  | 39,713,530 |  |

Cost of sales | 38,983,999 |  | 34,841,104 |  |

GROSS PROFIT | 4,932,053 |  | 4,872,426 |  |

Administrative expenses | 3,796,211 |  | 3,221,124 |  |

1,135,842 |  | 1,651,302 |  |

Other operating income | 29,396 |  | 27,076 |  |

OPERATING PROFIT | 4 | 1,165,238 |  | 1,678,378 |  |

Interest receivable and similar income | 14,697 |  | - |  |

1,179,935 |  | 1,678,378 |  |

Interest payable and similar expenses | 5 | 370,645 |  | 233,957 |  |

PROFIT BEFORE TAXATION | 809,290 |  | 1,444,421 |  |

Tax on profit | 6 | 225,358 |  | 345,156 |  |

PROFIT FOR THE FINANCIAL YEAR | 583,932 |  | 1,099,265 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 583,932 |  | 1,099,265 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

BALANCE SHEET

31 May 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 347,638 |  | 191,196 |  |

Investment property | 9 | 450,000 |  | 450,000 |  |

797,638 |  | 641,196 |  |

CURRENT ASSETS

Stocks | 10 | 6,506 |  | 4,167 |  |

Debtors | 11 | 9,566,073 |  | 8,725,009 |  |

Cash at bank and in hand | 163,435 |  | 76,984 |  |

9,736,014 |  | 8,806,160 |  |

CREDITORS

Amounts falling due within one year | 12 | 9,524,187 |  | 8,371,368 |  |

NET CURRENT ASSETS | 211,827 |  | 434,792 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,009,465 |  | 1,075,988 |  |

CREDITORS

Amounts falling due after more than one year | 13 | - |  | (400,000 | ) |

PROVISIONS FOR LIABILITIES | 16 | (50,105 | ) | - |  |

NET ASSETS | 959,360 |  | 675,988 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 448 |  | 448 |  |

Fair value reserve | 18 | 254,098 |  | 254,098 |  |

Retained earnings | 18 | 704,814 |  | 421,442 |  |

SHAREHOLDERS' FUNDS | 959,360 |  | 675,988 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

A A Watson - Director

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

STATEMENT OF CHANGES IN EQUITY

For The Year Ended 31 May 2025

| Called up |  | Fair |

| share |  | Retained |  | value |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 June 2023 | 448 |  | 1,097,177 |  | 254,098 |  | 1,351,723 |  |

Changes in equity

Dividends | - |  | (1,775,000 | ) | - |  | (1,775,000 | ) |

Total comprehensive income | - |  | 1,099,265 |  | - |  | 1,099,265 |  |

Balance at 31 May 2024 | 448 |  | 421,442 |  | 254,098 |  | 675,988 |  |

Changes in equity

Dividends | - |  | (300,560 | ) | - |  | (300,560 | ) |

Total comprehensive income | - |  | 583,932 |  | - |  | 583,932 |  |

Balance at 31 May 2025 | 448 |  | 704,814 |  | 254,098 |  | 959,360 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

CASH FLOW STATEMENT

For The Year Ended 31 May 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,455,036 |  | 1,500,217 |  |

Interest paid | (370,645 | ) | (233,957 | ) |

Tax paid | (312,936 | ) | (591,473 | ) |

Net cash from operating activities | 771,455 |  | 674,787 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (237,352 | ) | (17,894 | ) |

Sale of tangible fixed assets | 49,830 |  | - |  |

Interest received | 14,697 |  | - |  |

Net cash from investing activities | (172,825 | ) | (17,894 | ) |

Cash flows from financing activities

Increase on invoice discounting facility | 1,052,567 |  | 1,495,550 |  |

Amount withdrawn by directors | (1,264,186 | ) | (366,064 | ) |

Share issue | - |  | (448 | ) |

Equity dividends paid | (300,560 | ) | (1,775,000 | ) |

Net cash from financing activities | (512,179 | ) | (645,962 | ) |

Increase in cash and cash equivalents | 86,451 |  | 10,931 |  |

Cash and cash equivalents at beginning of year | 2 | 76,984 |  | 66,053 |  |

Cash and cash equivalents at end of year | 2 | 163,435 |  | 76,984 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE CASH FLOW STATEMENT

For The Year Ended 31 May 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 809,290 |  | 1,444,421 |  |

| Depreciation charges | 33,781 |  | 27,989 |  |

| Profit on disposal of fixed assets | (2,701 | ) | - |  |

| Finance costs | 370,645 |  | 233,957 |  |

| Finance income | (14,697 | ) | - |  |

1,196,318 |  | 1,706,367 |  |

| (Increase)/decrease in stocks | (2,339 | ) | 1,694 |  |

| Decrease/(increase) in trade and other debtors | 97,787 |  | (23,862 | ) |

| Increase/(decrease) in trade and other creditors | 163,270 |  | (183,982 | ) |

| Cash generated from operations | 1,455,036 |  | 1,500,217 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 May 2025

| 31.5.25 |  | 1.6.24

£ | £ |

| Cash and cash equivalents | 163,435 |  | 76,984 |  |

| Year ended 31 May 2024

| 31.5.24 |  | 1.6.23

£ | £ |

| Cash and cash equivalents | 76,984 |  | 66,053 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.6.24 | Cash flow | At 31.5.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 76,984 |  | 86,451 |  | 163,435 |  |

76,984 |  | 86,451 |  | 163,435 |  |

| Debt

| Debts falling due within 1 year | (5,228,662 | ) | (1,052,567 | ) | (6,281,229 | ) |

(5,228,662 | ) | (1,052,567 | ) | (6,281,229 | ) |

| Total | (5,151,678 | ) | (966,116 | ) | (6,117,794 | ) |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 31 May 2025

1. | STATUTORY INFORMATION

| Ambitions Personnel Limited 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the Companies accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| (i) Useful economic life of property, plant and equipment

| The annual deprecation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re assessed annually. They are amended when necessary to reflect the current estimates, based on use by the company and the physical condition of the assets.

| (ii) Holiday pay provision

| The company offers short-term employment benefits in the form of holiday pay to both it's permanent and temporary staff. Due to the holiday year end and the financial reporting date being non-coterminous this results in a holiday pay provision arising. As a result the company looks to use its wages information to make an estimate of the cost this has to the company. Due to the demographic of staff the company employs this can lead to holiday not being taken. The company looks to make adequate allowance for this when calculating the provision.

| (iii) Investment property valuation

| The Company determines whether a property qualifies as an investment property, and has developed criteria in making that judgement. Investment property is a property held to earn rentals or for capital appreciation or both. Therefore, the Company considers whether a property generates cash flows largely independently of the other assets held by the Company.

| The fair values of investment properties are determined by using valuation techniques. The Company uses a variety of methods and makes assumptions that are based on market conditions existing at each balance sheet date. Where appropriate, professional valuations or similar valuation techniques are also used to determine the fair values of the properties.

| In the absence of current prices in an active market for similar properties, the Company considers

| information from a variety of sources, including:

| - current prices in an active market for properties of a different nature, condition or location, adjusted to reflect those differences;

| - recent prices of similar properties on less active markets, with adjustments to reflect any changes in economic conditions since the date of the transactions that occurred at those prices; and

| - discounted cash flow projections based on reliable estimates of future cash flows, supported by the terms of any existing lease and other contracts and (when possible) by external evidence such as current market rents for similar properties in the same location and condition, and using discount

| rates that reflect current market assessments of the uncertainty in the amount and timing of the

| cash flows.

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold property | - | 2% on cost

| Improvements to property | - | 10% on cost

| Fixtures and fittings | - | 15% on cost

| Motor vehicles | - | 15% on cost

| Computer equipment | - | 25% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

| recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| 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 residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Other financial liabilities

| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

| Derecognition of financial liabilities

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

2. | ACCOUNTING POLICIES - continued

| Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| 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.

| Going concern

| As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,016,718 |  | 1,663,283 |  |

| Social security costs | 253,056 |  | 196,250 |  |

| Other pension costs | 57,556 |  | 73,173 |  |

2,327,330 |  | 1,932,706 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

3. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Administration | 53 |  | 51 |  |

| Directors | 3 |  | 3 |  |

56 |  | 54 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 209,781 |  | 38,575 |  |

| Directors' pension contributions to money purchase schemes | 20,000 |  | 40,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 2 |  |

| Information regarding the highest paid director for the year ended 31 May 2025 is as follows:

| 2025 |

£ |  |

| Emoluments etc | 105,411 |  |

| Pension contributions to money purchase schemes | 10,000 |  |

| Wages included within Cost of Sales are not included here as they represent a pass-through cost due to the nature of the business. These wages are not for staff employed to run the business but rather payments that flow through to service providers.

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Other operating leases | 140,763 |  | 129,122 |  |

| Depreciation - owned assets | 33,781 |  | 27,989 |  |

| Profit on disposal of fixed assets | (2,701 | ) | - |  |

| Auditors' remuneration | 17,995 |  | 13,475 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 370,645 |  | 233,957 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 162,798 |  | 345,156 |  |

| Tax under provision | 12,455 |  | - |  |

| Total current tax | 175,253 |  | 345,156 |  |

| Deferred tax | 50,105 |  | - |  |

| Tax on profit | 225,358 |  | 345,156 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 809,290 |  | 1,444,421 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 202,323 |  | 361,105 |  |

| Effects of:

| Expenses not deductible for tax purposes | 10,580 |  | 1,127 |  |

| Capital allowances in excess of depreciation | - |  | (1,567 | ) |

| Adjustments to tax charge in respect of previous periods | 12,455 |  | (15,509 | ) |

| Total tax charge | 225,358 |  | 345,156 |  |

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| A Ordinary shares of 0.1p each |

| Interim | 300,560 |  | 1,775,000 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

8. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| Freehold |  | to |  | and

| property |  | property |  | fittings

£ | £ | £ |

| COST

| At 1 June 2024 | 133,404 |  | 23,358 |  | 78,232 |  |

| Additions | - |  | - |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 May 2025 | 133,404 |  | 23,358 |  | 78,232 |  |

| DEPRECIATION

| At 1 June 2024 | 21,344 |  | 20,048 |  | 76,200 |  |

| Charge for year | 2,668 |  | 685 |  | 1,056 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 May 2025 | 24,012 |  | 20,733 |  | 77,256 |  |

| NET BOOK VALUE

| At 31 May 2025 | 109,392 |  | 2,625 |  | 976 |  |

| At 31 May 2024 | 112,060 |  | 3,310 |  | 2,032 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024 | 207,968 |  | 74,210 |  | 517,172 |  |

| Additions | 195,802 |  | 41,550 |  | 237,352 |  |

| Disposals | (113,218 | ) | - |  | (113,218 | ) |

| At 31 May 2025 | 290,552 |  | 115,760 |  | 641,306 |  |

| DEPRECIATION

| At 1 June 2024 | 148,398 |  | 59,986 |  | 325,976 |  |

| Charge for year | 22,086 |  | 7,286 |  | 33,781 |  |

| Eliminated on disposal | (66,089 | ) | - |  | (66,089 | ) |

| At 31 May 2025 | 104,395 |  | 67,272 |  | 293,668 |  |

| NET BOOK VALUE

| At 31 May 2025 | 186,157 |  | 48,488 |  | 347,638 |  |

| At 31 May 2024 | 59,570 |  | 14,224 |  | 191,196 |  |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

9. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 June 2024

| and 31 May 2025 | 450,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | 450,000 |  |

| At 31 May 2024 | 450,000 |  |

| Fair value at 31 May 2025 is represented by:

£ |

| Valuation in 2019 | 95,155 |  |

| Valuation in 2021 | 75,000 |  |

| Cost | 279,845 |  |

450,000 |  |

| An item of freehold property was transferred to investment property at 31 May 2021 due to a change in use.

| The property was valued on an open market basis at £450,000 by the directors on 31 May 2025.

10. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 6,506 |  | 4,167 |  |

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 8,209,825 |  | 8,397,689 |  |

| Other debtors | 167,805 |  | 52,292 |  |

| Directors' current accounts | 953,600 |  | 101,095 |  |

| Tax | 86,346 |  | - |  |

| Prepayments | 148,497 |  | 173,933 |  |

9,566,073 |  | 8,725,009 |  |

| A short term loan of £6,281,229 (2024: £5,228,662) has been raised against the above trade debtors under an invoice discounting arrangement at the year end.

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other loans (see note 14) | 6,281,229 |  | 5,228,662 |  |

| Trade creditors | 158,126 |  | 172,812 |  |

| Corporation tax | 75,328 |  | 126,665 |  |

| Social security and other taxes | 627,465 |  | 481,694 |  |

| VAT | 886,797 |  | 885,251 |  |

| Other creditors | 526,062 |  | 464,214 |  |

| Directors' current accounts | 217,257 |  | 228,938 |  |

| Accrued expenses | 751,923 |  | 783,132 |  |

9,524,187 |  | 8,371,368 |  |

| The directors loans due within one year are interest free. A discount rate of 10% is applied to the directors loans which are due after more than one year.

13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Directors' loan accounts | - |  | 400,000 |  |

14. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Other loans | 6,281,229 |  | 5,228,662 |  |

| The factoring facility operates with an advanced rate limit of 90% on trade debtor balances, up to a value of £8,000,000. A discount charge of 1.73% above LIBOR is applied on transactions, as well as a fixed service charge.

| The invoice financing facility is secured via fixed and floating charges over assets in favour of RBS Invoice Finance Ltd

15. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 146,884 |  | 41,225 |  |

| Between one and five years | 265,492 |  | 67,583 |  |

| In more than five years | 1,583 |  | - |  |

413,959 |  | 108,808 |  |

| Since the year end, the company has entered into lease renewals which give rise to additional operating lease commitments amounting to £5,250. These commitments were not reflected in the operating lease disclosures at the balance sheet date, but will be payable under the renewed agreements.

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 50,105 |  | - |  |

| Deferred |

| tax |

£ |

| Charge to Statement of Comprehensive Income during year | 50,105 |  |

| Balance at 31 May 2025 | 50,105 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 134,600 | A Ordinary | 0.1p | 135 |  | 135 |  |

| 134,600 | B Ordinary | 0.1p | 135 |  | 135 |  |

| 134,000 | C Ordinary | 0.1p | 134 |  | 134 |  |

| 22,400 | D Ordinary | 0.1p | 22 |  | 22 |  |

| 22,400 | E Ordinary | 0.1p | 22 |  | 22 |  |

448 |  | 448 |  |

18. | RESERVES

| Fair |

| Retained |  | value |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 June 2024 | 421,442 |  | 254,098 |  | 675,540 |  |

| Profit for the year | 583,932 |  | 583,932 |  |

| Dividends | (300,560 | ) | (300,560 | ) |

| At 31 May 2025 | 704,814 |  | 254,098 |  | 958,912 |  |

| The fair value reserve is in relation to revaluation gains on the investment property, which are not distributable.

19. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

2025 | 2024 |

£ | £ |

| P A Haggar

| Balance outstanding at start of year | (475,428 | ) | (777,370 | ) |

| Amounts advanced | 265,024 |  | 601,942 |  |

| Amounts repaid | (6,853 | ) | (300,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (217,257 | ) | (475,428 | ) |

AMBITIONS PERSONNEL LIMITED (REGISTERED NUMBER: 02684652) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 May 2025

19. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

| C L Bishop

| Balance outstanding at start of year | (153,510 | ) | (170,964 | ) |

| Amounts advanced | 992,384 |  | 717,454 |  |

| Amounts repaid | (484,427 | ) | (700,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 354,447 |  | (153,510 | ) |

| A A Watson

| Balance outstanding at start of year | 101,095 |  | 54,426 |  |

| Amounts advanced | 995,422 |  | 766,657 |  |

| Amounts repaid | (497,364 | ) | (719,988 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 599,153 |  | 101,095 |  |

20. | RELATED PARTY DISCLOSURES

| During the year, total dividends of £100,560 were paid to the directors .

| At the year end, the company was owed monies from discretionary trusts of which the directors are sole trustees of £89,826 (2024: nil) for A Watson and £64,917 (2024: nil) for C Bishop, these amounts have been included in Other debtors and are repayable on demand.

| During the year, a total of key management personnel compensation of £ 453,932 was paid.

21. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is C Bishop and A Watson by virtue of their shareholding.