Goldsmith Personnel Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05050365 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

GOLDSMITH PERSONNEL LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Property, plant and equipment

4

835,329

718,978

CURRENT ASSETS

Inventories

11,562

11,225

Debtors

5

2,613,145

1,908,003

Cash at bank

348,387

472,426

2,973,094

2,391,654

CREDITORS

Amounts falling due within one year

6

995,298

746,196

NET CURRENT ASSETS

1,977,796

1,645,458

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,813,125

2,364,436

CREDITORS

Amounts falling due after more than one year

7

(97,731

)

(153,717

)

PROVISIONS FOR LIABILITIES

9

(208,833

)

(179,745

)

NET ASSETS

2,506,561

2,030,974

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

2,505,561

2,029,974

SHAREHOLDERS' FUNDS

2,506,561

2,030,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 April 2026 and were signed by:

Mrs N I Goldsmith - Director

1.	STATUTORY INFORMATION

Goldsmith Personnel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05050365

Registered office:

380 Kingsland Road

Hackney

London

E8 4AA

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

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

Revenue is recognised when services are rendered.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 20% on reducing balance

The company has adopted the policy of not to depreciate the asset in the year of purchase, however full depreciation will be provided in the year of disposal.

Government grants

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Inventories

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

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

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.

Factored debts

The company has all of its sales invoices subjected to factoring. The company's factoring arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the factors are included within creditors as a liability.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 134 (2024 - 101 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

leasehold

machinery

Totals

£

COST

At 1 September 2024

59,610

1,216,737

1,276,347

Additions

-

260,165

At 31 August 2025

59,610

1,476,902

1,536,512

DEPRECIATION

At 1 September 2024

59,610

497,759

557,369

Charge for year

-

143,814

At 31 August 2025

59,610

641,573

701,183

NET BOOK VALUE

At 31 August 2025

-

835,329

At 31 August 2024

-

718,978

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,777,635

1,332,553

Other debtors

835,510

575,450

2,613,145

1,908,003

Included in trade debtors are debts of £622,986 (2024: £488,624) subject to factoring by a legal charge on the company's book debts, including a fixed and floating charge on the assets of the company.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

56,534

128,726

Trade creditors

217,856

83,406

Taxation and social security

243,238

159,339

Other creditors

477,670

374,725

995,298

746,196

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

97,731

153,717

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Factoring facility

115,289

85,704

The factoring facility is secured by way of fixed and floating charges over the assets of the company and contains negative pledge.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

Accelerated capital allowances

179,744

107,507

Other timing differences

29,089

72,238

208,833

179,745

Deferred

tax

£

Balance at 1 September 2024

179,745

Provided during year

29,088

Balance at 31 August 2025

208,833

10.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total outstanding commitments of £226,092 (2024: £215,900) under non-cancellable operating leases, payable within the next 12 months.

11.	RELATED PARTY DISCLOSURES

Included in the other debtors due within one year is an amount of £793,669 (2024: £539,147) due from a connected company under common directorship and shareholding. The loan was interest free and recoverable on demand.

Included in the other creditors due within one year is an amount of £233,648 (2024: £176,486) due to the director of the company. The loan was interest free and repayable on demand.