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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
COMPANY INFORMATION
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HR FACILITIES LTD
CONTENTS
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HR FACILITIES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Smart Managed Solutions, a trading name of HR Facilities Ltd, is a leading provider of data led facilities management services. This strategic report outlines the company's performance, strategic direction, key financial outcomes, and future plans for the year ending March 31, 2025.
Smart Managed Solutions specialises in providing comprehensive services, including maintenance, energy and project management. Our mission is to deliver exceptional service, ensuring client satisfaction and operational excellence.
Strategic Objectives For the year March 2025, our strategic objectives were centred around four key pillars: 1. Operational Efficiency - Streamlining processes to reduce costs and enhance service delivery through comprehensive data management. 2. Client Satisfaction - Maintaining high levels of customer service and expanding our client base. 3. Sustainable Growth - Implementing sustainable practices to promote environmental responsibility and achieve long-term growth. 4. Innovation - Leveraging technology to improve service efficiency and introduce new service offerings with particular focus on data and energy management. Financial Performance During the year Smart Managed Solutions increased turnover to £78.4 million, 25% higher than the prior year. Profit after tax was £5.2million for the period, up from £2.6million in the prior year. Smart Managed Solutions has continued this strong momentum into the new financial year, securing new business and reacting swiftly to take advantage of opportunities in the market. The company has focused on optimising working capital during the period and this is reflected in the cash balance of £11.5m as at 31 March 2025. Future Plans By maintaining its focus on operational efficiency, client satisfaction, sustainable growth, and innovation, Smart Managed Solutions has once again delivered a strong financial performance with increases in both turnover and net profit. The business is well positioned to achieve continued success in the coming years and remains committed to delivering exceptional facilities management services and creating long-term value for our stakeholders.
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HR FACILITIES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Smart Managed Solutions recognises the importance of managing risks to ensure business continuity and long-term success. Key risks identified include:
Economic Downturn: Diversifying our client base and service offerings to mitigate the impact of economic fluctuations. Regulatory Changes: Staying abreast of regulatory developments and ensuring compliance through regular audits and staff training. Technological Disruption: Continually investing in technology to stay ahead of industry advancements and maintain a competitive edge. Credit risk The exposure to bad debts and credit risk is proactively managed, monitoring of debts on a daily basis.
Given the straightforward nature of the business, the company's directors are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the business.
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HR FACILITIES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors of the company, as those of all UK companies, must act in accordance with a set of general duties.
These duties are detailed in section 172 of the UK Companies Act 2006 which is summarised below: A director of a company must act in the way he/she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to: 1. The likely consequences of any decision in the long term 2. The interests of the company's employees 3. The need to foster the company's business relationships with suppliers, customers and others 4. The impact of the company's operations on the community and the environment 5. The desirability of the company maintaining a reputation for high standards of business conduct, and 6. The need to act fairly as between members of the company. Each director of the company is aware of their obligations on the above and can seek professional advice from an independent advisor as necessary. As a company with a significant workforce the company’s directors delegate day to day decision making to employees of the company. In discharging these duties, the directors have regard for other factors including the interests and views of stakeholders in any decision-making process and aim to ensure that decisions support the company and stakeholders’ purpose, vision and values as well as promoting the success of the wider group. The Board uses its regular meetings as a mechanism to address and meet its obligations under Section 172 of the Companies Act 2006 at which point the stakeholders of the group are discussed. In the directors' opinion the employees and the customer base represent the key stakeholders and the means of engagement have been detailed below: Employees - The company as noted in the directors' report has a number of policies on its engagement with employees but also prides itself on its recruitment policies to ensure equal opportunities and safe recruitment. Customers – Our employees and managers are onsite on a daily basis and interact with our customers to fulfil our customers' requirements. All of our staff uphold our key values as noted on our website. The company also operates a zero-tolerance approach to modern slavery and human trafficking. The company is committed to acting ethically and with integrity in all of our business relations. We work closely with our business partners, suppliers and supply chains to ensure there is no place for modern slavery and human trafficking.
This report was approved by the board on 30 December 2025 and signed on its behalf.
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HR FACILITIES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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 to 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.
The profit for the year, after taxation, amounted to £5,247,871 (2024 - £2,598,571).
Dividends voted during the year amounted to £5,846,343 (2024 - £840,022).
The directors who served during the year were:
The company is budgeted to continue to trade profitably and to pursue opportunities to improve its financial performance and financial position in the year to 31 March 2026.
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HR FACILITIES LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The company takes employee involvement and engagement seriously and continues to hold regular meetings whereby chosen worker representatives meet with the management team to discuss concerns that they have.
The company’s policy is to recruit disabled workers for those vacancies it is able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for development exist. Arrangements are made wherever possible for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.
Smart Managed Solutions places a priority on maintaining high levels of customer service and employees and managers are onsite on a daily basis to interact with our customers and also to manage and engage with key suppliers that help us to fulfil our customers' requirements.
Smart Managed Solutions has an active program of outreach and support to the local community including contributing time and resources to voluntary projects and engagement in programs that promote employment opportunities for disadvantaged groups.
There have been no significant events affecting the company since the year end.
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board on
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HR FACILITIES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HR FACILITIES LTD
We have audited the financial statements of HR Facilities Ltd (the 'company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, 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 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.
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HR FACILITIES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HR FACILITIES LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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HR FACILITIES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HR FACILITIES LTD (CONTINUED)
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 Auditors' 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:
• The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the sector that the company operates in; • We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, ISO accreditations specifically 9001, 14001 and 45001, and the company’s membership with the Electrical Contractors' Association and NICEIC; • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes, relevant correspondence and certificates held; and • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquires of management and the board as to where they consider there was susceptibility to fraud along with their knowledge of actual, suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and • Our review of financial statements and testing the disclosures against supporting documentation. To address the risk of fraud through management bias and override of controls we: • Performed analytical procedures to identify any unusual or unexpected trends or anomalies; • Inspected and tested journal entries to identify unusual or unexpected transactions; • Assessed whether judgement and assumptions made in determining significant accounting estimates, including stock provisions and the useful economic life of tangible fixed assets, were indicative of management bias; and • Investigated the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
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HR FACILITIES LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HR FACILITIES LTD (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Charles Lake House
Claire Causeway
Crossways Business Park
Kent
DA2 6QA
Date:
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HR FACILITIES LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
REGISTERED NUMBER: 07174215
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf:
The notes on pages 13 to 27 form part of these financial statements.
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HR FACILITIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
HR Facilities Ltd is a private company limited by shares and incorporated in England and Wales. The registered office is Unit 201 Portsoken House, 155-157 Minories, London, United Kingdom, EC2N 1LJ. The principal activity of the company is that of office maintenance services.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Smart Managed Solutions Group Limited as at 31 March 2025 and these financial statements may be obtained from Unit 201 Portsoken House, 155-157 Minories, London, EC3N 1LJ.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Intangible assets are not amortised until they are brought into use.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 a residual interest in the assets of the company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Taxation (continued)
There were no factor that may affect future tax charges.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the funds and amounted to £376,903 (2024: £268,261). Contributions totalling £166,864 (2024: £54,460) were payable to the fund at the balance sheet date and are included in creditors.
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HR FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
At the year end the company's immediate parent undertaking is Smart Managed Solutions Holdings Limited.
There is no one ultimate controlling party.
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