ePayMe Limited 31/12/2024 iXBRL

Company registration number: 09921785

ePayMe Limited

Financial statements

31 December 2024

ePayMe Limited

Contents

Directors and other information

Strategic report

Director's report

Director's responsibilities statement

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

ePayMe Limited

Directors and other information


Director	Mrs S J Sharpe	(Resigned 31 July 2024)
	Mr A I Johnston	(Resigned 31 July 2024)
	Mr D S Fields


Company number	09921785


Registered office	Basepoint Business Centre
	377-399 London Road
	Camberley
	Surrey, England
	GU15 3HL


Auditor	Shenward LLP
	Summit House Woodland Park
	Bradford Road
	Cleckheaton
	West Yorkshire
	BD19 6BW

ePayMe Limited

Strategic report

Year ended 31 December 2024

Principal activity

The principal activity of the company is that of providing a compliant range of contracting and payroll services.

Fair review of the business

The business continues to operate as an Outsourced Payroll provider to the recruitment industry offering compliant umbrella payroll services within the UK.

In common with many businesses in our sector, we recognise the importance of accreditations and have added APSCo Trusted partner status to our accreditation with a Professional Passport.

The business is concentrating on additional transaction volume in the next year and growth organically and winning business by delivering quality service with competitive margins.

Principal risks and uncertainties

The nature of our business means we have to be compliant with the way in which payroll is processed and other legislation as it changes, to meet our clients needs. Professional advice is taken as required and dedicated teams control compliance throughout the business.

The business also uses bespoke insurance cover specifically designed for the industry and has a good working relationship with the broker.

The business is focused on providing solutions for clients who consistently require payroll services for their workforce, thereby reducing the ongoing business risk.

Section 172 Statement

The directors recognise their duty under section 172 of the Companies Act 2006 to act in a way they consider, in good faith, would most likely promote the long-term success of the Company for the benefit of its shareholders as a whole, while having regard to the matters set out in section 172(1). The following sets out how the directors have had regard to these factors during the year.a) Issues, factors and stakeholdersAs an outsourced payroll provider, the Company operates within a highly regulated sector where compliance, accuracy and service reliability are critical to clients, workers and the wider labour supply chain. The directors have continued to prioritise robust compliance practices and ongoing alignment with industry expectations, supported by the Company's accreditations, including APSCo Trusted Partner status and Professional Passport accreditation.The Board receives and reviews regular management information, including weekly operational and financial reports and monthly management accounts. This allows the directors to monitor performance, understand emerging risks, and respond to developments in employment tax, payroll compliance, and operational capacity. Broader market issues-such as IR35 and changes in labour supply legislation-are discussed at Board meetings, where agreed actions are recorded and monitored.The directors are committed to acting responsibly and considering the wider impact of the Company's operations on stakeholders, the community, and the environment, recognising the nature of the Company's office-based business.

b) Engagement with employees

The Company places significant value on its employees and the crucial role they play in supporting service delivery. During the year, the directors engaged with employees on several matters, including the Company's office relocation, operational resourcing needs and organisational structure. Employee feedback was considered as part of the relocation process to ensure the new premises met the needs of the team and supported efficient operations.

Management structures were reviewed to ensure appropriate levels of support and oversight across operational teams. The directors continue to consider employee welfare, development, communication and resource requirements as part of their decision-making.

c) Business relationships

The success of the Company relies on maintaining strong and constructive relationships with clients, suppliers, technology partners, insurers and industry bodies. The directors regularly engage with recruitment agencies and other stakeholders to ensure that services meet evolving expectations for compliance, accuracy and reliability.

The Company also maintains dialogue with sector organisations on regulatory developments and collaborates with suppliers on technology, system capability and security arrangements. These relationships help inform balanced decision-making that supports both operational resilience and sustainable growth.

d) Decision-making

Throughout the year, the directors made decisions aimed at promoting the long-term sustainable success of the Company. Key decisions included enhancing operational capability, further strengthening compliance processes and continuing to focus on service quality to support client retention and growth.

In making these decisions, the directors considered the long-term consequences, the interests of employees, the need to foster relationships with clients and suppliers, the community and environmental impact, and the importance of maintaining the Company's reputation for high standards of business conduct. The directors believe the decisions taken during the year were consistent with their section 172 duties and contributed positively to the Company's future prospects.

Financial Risk Management

The Company's operations expose it to certain financial risks, primarily credit risk, liquidity risk and cash-flow risk. The Board is responsible for overseeing the management of these risks and ensuring that the Company maintains adequate resources to meet its operational and financial obligations.

Credit Risk

Credit risk arises principally from amounts due from clients and related parties. The Company's trade debtor balance is modest relative to activity levels, and clients are reputable recruitment agencies operating under established trading terms. Debtor balances are monitored regularly, and credit exposure is considered low.

Liquidity and Cash-Flow Risk

Liquidity and cash-flow risk is inherent in the payroll services industry due to the timing difference between receipts from clients and payments to workers and HMRC. The Company manages this risk through strong cash forecasting, close monitoring of working capital and maintaining sufficient cash reserves to meet obligations as they fall due. The Company maintained a healthy cash position throughout the year.

The directors consider that the Company's existing financial controls and monitoring processes are appropriate for managing the key financial risks within the business.

This report was approved by the board of directors on 9 December 2025 and signed on behalf of the board by:

Mr D S Fields

Director

ePayMe Limited

Director's report

Year ended 31 December 2024

The director presents this report and the financial statements of the company for the year ended 31 December 2024.

Director

The director who served the company during the year was as follows:


Mrs S J Sharpe				(Resigned 31 July 2024)
Mr A I Johnston				(Resigned 31 July 2024)
Mr D S Fields

Dividends

The directors do not recommend the payment of a dividend (2023: £780,749). No dividends were paid or declared in the current year.

Future developments

We are constantly looking at ways to diversify. In doing so we intend to promote our services to a wider audience within the recruitment sector and focus on areas we are not currently active within, Diversification also comes with a focus towards new ventures, products, and services.

Employment of disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled or incapacitated, every effort is made to ensure their employment with the company continues and that the appropriate training and alterations are arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of all other employees.

Employee involvement

The company policy is to consult and discus with employees, matters likely to affect employees' interests. Information about matters of concern to employees is provided and discussed through regular company meetings. There is no employee share scheme at present but the management have considered the introduction of such as scheme as a means of further encouraging the involvement of employees in the performance of the business. We have recently moved offices and we discussed this with all the staff well in advance of looking for new offices. They were given locations of local large towns with sufficient suitable office space and we looked at areas based on the feedback from the staff.

Financial instruments

The company does not use any financial instruments to hedge its risks associated with price, credit, liquidity or cash flow. The financial risk management objectives and policies of the company and the exposure of the company to price risk, credit risk, liquidity risk and cash flow risk are not considered material for the assessment of the assets, liabilities, financial position and profit of the company.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 09 December 2025 and signed on behalf of the board by:

Mr D S Fields

Director

ePayMe Limited

Director's responsibilities statement

Year ended 31 December 2024

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 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.

ePayMe Limited

Independent auditor's report to the members of

ePayMe Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of ePayMe Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and 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 FRS 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 December 2024 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 auditor’s 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the director's report has been prepared in accordance with applicable legal requirements.

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 director's report. 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 the returns; or - certain disclosures of director's 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 director's responsibilities statement, the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 an auditor’s report 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. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 an auditors report 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.

Sherad Dewedi (Senior Statutory Auditor)

For and on behalf of

Shenward LLP

Chartered Accountants & Statutory Auditors

Summit House Woodland Park

Bradford Road

Cleckheaton

West Yorkshire

BD19 6BW

09 December 2025

ePayMe Limited

Statement of comprehensive income

Year ended 31 December 2024

		2024	2023
	Note	£	£


Turnover	4	43,715,717	44,436,195
Cost of sales		( 42,411,535)	( 43,227,683)
		_______	_______
Gross profit		1,304,182	1,208,512

Administrative expenses		( 981,425)	( 938,264)
		_______	_______
Operating profit	5	322,757	270,248

Other interest receivable and similar income	8	56,095	72,610
Profit before taxation		378,852	342,858

Tax on profit	9	( 95,296)	( 81,843)
		_______	_______
Profit for the financial year and total comprehensive income		283,556	261,015
		_______	_______

All the activities of the company are from continuing operations.

ePayMe Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	11	27,368		36,023
		_______		_______
			27,368		36,023

Current assets
Debtors	12	2,303,811		44,429
Cash at bank and in hand		2,164,984		3,476,910
		_______		_______
		4,468,795		3,521,339
Creditors: amounts falling due
within one year	13	( 4,201,724)		( 3,544,315)
		_______		_______
Net current assets/(liabilities)			267,071		( 22,976)
			_______		_______
Total assets less current liabilities			294,439		13,047


Provisions for liabilities	14		( 6,842)		( 9,006)

			_______		_______
Net assets			287,597		4,041
			_______		_______

Capital and reserves
Called up share capital	17		100		100
Profit and loss account			287,497		3,941
			_______		_______
Shareholders funds			287,597		4,041
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 09 December 2025 , and are signed on behalf of the board by:

Mr D S Fields

Director

Company registration number: 09921785

ePayMe Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2023	100	523,675	523,775

Profit for the year		261,015	261,015
	_______	_______	_______
Total comprehensive income for the year	-	261,015	261,015

Dividends paid and payable		( 780,749)	( 780,749)
	_______	_______	_______
Total investments by and distributions to owners	-	( 780,749)	( 780,749)

	_______	_______	_______
At 31 December 2023 and 1 January 2024	100	3,941	4,041

Profit for the year		283,556	283,556
	_______	_______	_______
Total comprehensive income for the year	-	283,556	283,556

	_______	_______	_______
At 31 December 2024	100	287,497	287,597
	_______	_______	_______

ePayMe Limited

Statement of cash flows

Year ended 31 December 2024

		2024	2023
	Note	£	£

Cash flows from operating activities

Cash generated from operations	18	( 1,367,663)	1,021,023

Interest received		56,095	72,610
Tax paid		-	( 119,699)
		_______	_______
Net cash (used in)/from operating activities		( 1,311,568)	973,934
		_______	_______

Cash flows from investing activities
Purchase of tangible assets		( 358)	( 17,638)
Proceeds from sale of tangible assets		-	6,096
		_______	_______
Net cash used in investing activities		( 358)	( 11,542)
		_______	_______

Cash flows from financing activities
Equity dividends paid		-	( 780,749)
		_______	_______
Net cash used in financing activities		-	( 780,749)
		_______	_______

Net increase/(decrease) in cash and cash equivalents		( 1,311,926)	181,643
Cash and cash equivalents at beginning of year		3,476,910	3,295,267
		_______	_______
Cash and cash equivalents at end of year		2,164,984	3,476,910
		_______	_______

ePayMe Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Basepoint Business Centre, 377-399 London Road, Camberley, Surrey, England, GU15 3HL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and 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.

Going concern

The Company's financial statements are prepared on a going concern basis, which contemplates the realisation of assets and the satisfaction of obligations in the normal course of business. In view of these matters, continuation as a going concern is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to, meets its financial requirements, raise additional capital, and the success of its future operations. The financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company not continue as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

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 are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 in finance costs in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of services	43,457,246	44,433,605
Construction contracts	258,471	2,590
	_______	_______
	43,715,717	44,436,195
	_______	_______

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation of tangible assets	9,013	9,662
(Gain)/loss on disposal of tangible assets	-	( 176)
Operating lease rentals	60,535	51,959
Foreign exchange differences	-	2
	_______	_______

6. Auditors remuneration

	2024	2023
	£	£
Fees payable to Shenward LLP
Fees payable for the audit of the financial statements	15,000	15,000
	_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2024	2023
Sales, marketing and distribution	12	12
Other departments	3,139	1,567
	_______	_______
	3,151	1,579
	_______	_______

The aggregate payroll costs incurred during the year were:

	2024	2023
	£	£
Wages and salaries	39,994,511	39,854,910
Social security costs	2,443,397	3,311,331
Other pension costs	291,846	380,549
	_______	_______
	42,729,754	43,546,790
	_______	_______

8. Other interest receivable and similar income

	2024	2023
	£	£
Bank deposits	56,095	72,610
	_______	_______

9. Tax on profit

Major components of tax expense

	2024	2023
	£	£
Current tax:
UK current tax expense	97,460	80,641
Adjustments in respect of previous periods	-	( 1)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	( 2,164)	1,203
	_______	_______
Tax on profit	95,296	81,843
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25.00 % (2023: 23.52%).

	2024	2023
	£	£
Profit before taxation	378,852	342,858
	_______	_______

Profit multiplied by rate of tax	94,713	80,640
Adjustments in respect of prior periods	-	( 1)
Effect of expenses not deductible for tax purposes	2,836	470
Effect of capital allowances and depreciation	( 89)	( 470)
Effect of different UK tax rates on some earnings	(2,164)	1,203
Rounding on tax charge	-	1
	_______	_______
Tax on profit	95,296	81,843
	_______	_______

10. Dividends

Equity dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	-	780,749
	_______	_______

11. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 January 2024	59,295	59,295
Additions	358	358
	_______	_______
At 31 December 2024	59,653	59,653
	_______	_______
Depreciation
At 1 January 2024	23,272	23,272
Charge for the year	9,013	9,013
	_______	_______
At 31 December 2024	32,285	32,285
	_______	_______
Carrying amount
At 31 December 2024	27,368	27,368
	_______	_______
At 31 December 2023	36,023	36,023
	_______	_______

12. Debtors

	2024	2023
	£	£
Trade debtors	79,824	25,865
Prepayments and accrued income	295,045	16,028
Other debtors	1,928,942	2,536
	_______	_______
	2,303,811	44,429
	_______	_______

13. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,166,039	17,173
Accruals and deferred income	1,046,507	7,260
Corporation tax	178,101	80,641
Social security and other taxes	875,653	2,826,448
Other creditors	935,424	612,793
	_______	_______
	4,201,724	3,544,315
	_______	_______

14. Provisions

	Deferred tax (note 15)	Total
	£	£
At 1 January 2024	9,006	9,006
Charges against provisions	( 2,164)	( 2,164)
	_______	_______
At 31 December 2024	6,842	6,842
	_______	_______

15. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 14)	6,842	9,006
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Provisions	( 2,086)	1,203
	_______	_______

16. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 291,846 (2023: £ 380,549 ).

17. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 0.01 each	10,001	100	10,000	100
	_______	_______	_______	_______

Share movements

	No	£
Ordinary :
At 1 January 2024	10,000	100
Issue of shares	1	0
	_______	_______
At 31 December 2024	10,001	100
	_______	_______

18. Cash generated from operations


	£	£
		Cash flows from operating activities
Profit for the financial year	283,556	261,015
Depreciation of tangible assets	9,013	9,662
Other interest receivable and similar income	( 56,095)	( 72,610)
Gain/(loss) on disposal of tangible assets	-	( 176)
Tax on profit	95,296	81,843
Accrued expenses/(income)	757,026	2,260

		Changes in:
Trade and other receivables	( 1,977,161)	158,629
Trade and other payables	( 479,298)	580,400
	_______	_______
Cash generated from operations	( 1,367,663)	1,021,023
	_______	_______

19. Analysis of changes in net debt

	At 1 January 2024	Cash flows	At 31 December 2024
	£	£	£
Cash and cash equivalents	3,476,910	(1,311,926)	2,164,984

20. Operating leases

The company as lessee

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


	£	£

Not later than 1 year	-	19,995
	_______	_______

21. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mrs S J Sharpe	590	80	-	670
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mrs S J Sharpe	5,711	-	( 5,121)	590
		_______	_______	_______	_______

At the year end the director owed the company £670 (2023: £590). The loan is unsecured and repayable on demand. Interest has not been charged on the loan.

22. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
STARFYN LIMITED	-	-	( 9,300)	-
CFM CIS Limited	-	-	1,000,001	-
Core Solution Limited	-	-	( 646,252)	-
Napril Operations Ltd	-	-	2,314	1,193
	_______	_______	_______	_______