Company No: 07055777 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	15,065		19,934
Investments	4	3		3
		15,068		19,937
Current assets
Debtors	5	1,068,761		1,207,877
Cash at bank and in hand		215,362		537,347
		1,284,123		1,745,224
Creditors: amounts falling due within one year	6	( 621,429)		( 420,826)
Net current assets		662,694		1,324,398
Total assets less current liabilities		677,762		1,344,335
Provision for liabilities		( 3,767)		( 4,984)
Net assets		673,995		1,339,351
Capital and reserves
Called-up share capital	7	109		100
Capital redemption reserve		0		9
Profit and loss account		673,886		1,339,242
Total shareholder's funds		673,995		1,339,351

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The financial statements of Heads Resourcing Group Limited (registered number: 07055777) were approved and authorised for issue by the Board of Directors on 24 July 2025. They were signed on its behalf by:

Jennifer Ann Gaster Director

1. Accounting policies

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

General information and basis of accounting

Heads Resourcing Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fleming Court Leigh Road, Eastleigh, Southampton, SO50 9PD, United Kingdom.

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

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Tangible fixed assets

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

Plant and machinery etc.

4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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

Financial instruments

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

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Other financial assets
The gross amount of trade debtors has been shown on the balance sheet within current assets and the corresponding liability in respect of the proceeds received from the factor has been shown within current liabilities.

The interest element of the factors charges and other factoring costs are recognised as they accrue and are charged to the profit and loss account.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	31.03.2025		31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		21

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	62,880		62,880
Additions	5,073		5,073
At 31 March 2025	67,953		67,953
Accumulated depreciation
At 01 April 2024	42,946		42,946
Charge for the financial year	9,942		9,942
At 31 March 2025	52,888		52,888
Net book value
At 31 March 2025	15,065		15,065
At 31 March 2024	19,934		19,934

4. Fixed asset investments

Investments in subsidiaries

	31.03.2025
	£
Cost
At 01 April 2024	3
At 31 March 2025	3
Carrying value at 31 March 2025	3
Carrying value at 31 March 2024	3

5. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	973,195		1,056,896
Prepayments	37,122		0
Other debtors	58,444		150,981
	1,068,761		1,207,877

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	65,184		13,449
Amounts owed to Group undertakings (note 9)	7,878		7,878
Amounts owed to directors (note 9)	32		2,227
Accruals	32,080		4,340
Taxation and social security	254,490		387,013
Other creditors	261,765		5,919
	621,429		420,826

7. Called-up share capital

	31.03.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Financial commitments

Other financial commitments

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £80,000 (2024: £77,000).

This amount is in relation to operating lease commitments which are payable over the next 2 years.

9. Related party transactions

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