| Industry Resource Services Ltd |
| Registered number: |
02147717 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
912,191 |
|
|
923,272 |
| Investments |
4 |
|
|
1 |
|
|
1 |
|
|
|
|
912,192 |
|
|
923,273 |
|
| Current assets |
| Debtors |
5 |
|
2,489,391 |
|
|
2,608,745 |
| Cash at bank and in hand |
|
|
1,134,747 |
|
|
1,206,284 |
|
|
|
3,624,138 |
|
|
3,815,029 |
|
| Creditors: amounts falling due within one year |
6 |
|
(86,719) |
|
|
(133,117) |
|
| Net current assets |
|
|
|
3,537,419 |
|
|
3,681,912 |
|
| Net assets |
|
|
|
4,449,611 |
|
|
4,605,185 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
4,448,611 |
|
|
4,604,185 |
|
| Shareholder's funds |
|
|
|
4,449,611 |
|
|
4,605,185 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Christopher R. Blyth |
| Director |
| Approved by the board on 11 December 2025 |
|
| Industry Resource Services Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of discounts and value added taxes, of work carried out in respect of services provided to customers, to the extent that there is a right to consideration, and it is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover is recognised as the value of the service provided to date based on a proportion of the total contract value. Turnover is attributable to one continuing activity, that of employment agency and employment business. |
|
|
Investment property |
|
Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Motor vehicles |
25% straight line |
|
Furniture and fixtures |
20% reducing balance |
|
Office equipment |
25% reducing balance |
|
|
The company has a policy of regular and high level maintenance and repairs to its freehold properties and they are unlikely to suffer from economic or technological obsolescence. As a result of this the residual values of the properties are high and so depreciation on them is not charged as it is not material. |
|
|
Investments |
|
Investments in subsidiaries are measured at cost less any accumulated impairment losses. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
13 |
|
11 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Investment property |
|
Other land and buildings |
|
Motor vehicles and office equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost or fair value |
|
At 1 April 2024 |
328,425 |
|
556,985 |
|
286,224 |
|
1,171,634 |
|
Additions |
- |
|
- |
|
645 |
|
645 |
|
At 31 March 2025 |
328,425 |
|
556,985 |
|
286,869 |
|
1,172,279 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
- |
|
- |
|
248,362 |
|
248,362 |
|
Charge for the year |
- |
|
- |
|
11,726 |
|
11,726 |
|
At 31 March 2025 |
- |
|
- |
|
260,088 |
|
260,088 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
328,425 |
|
556,985 |
|
26,781 |
|
912,191 |
|
At 31 March 2024 |
328,425 |
|
556,985 |
|
37,862 |
|
923,272 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 April 2024 |
1 |
|
|
At 31 March 2025 |
1 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
3,234 |
|
12,763 |
|
Amounts owed by subsidiary company |
|
2,455,857 |
|
2,564,498 |
|
Prepayments and accrued income |
30,300 |
|
31,484 |
|
|
|
|
|
|
2,489,391 |
|
2,608,745 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
17,342 |
|
22,102 |
|
Corporation tax |
|
|
|
|
3,033 |
|
3,033 |
|
Other taxes and social security costs |
35,735 |
|
66,092 |
|
Accruals and deferred income |
18,328 |
|
29,502 |
|
Other creditors |
12,281 |
|
12,388 |
|
|
|
|
|
|
86,719 |
|
133,117 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Industry Resource Services Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
9 Bonhill Street |
|
London |
|
EC2A 4DJ |