Cinch Contracting Services Limited Company accounts

COMPANY REGISTRATION NUMBER: 09186411

Cinch Contracting Services Limited

Financial Statements

31 July 2025

Cinch Contracting Services Limited

Financial Statements

Year ended 31 July 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Director's report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	10

Statement of financial position	11

Statement of cash flows	12

Notes to the financial statements	13

Cinch Contracting Services Limited

Officers and Professional Advisers

Director	Mr K Singh Jittlar

Registered office	Unit 4d Parkway Rise
	Sheffield
	S9 4WQ

Auditor	Allen, West and Foster Limited
	Chartered accountants & statutory auditor
	Omega Court
	364-366 Cemetery Road
	Sheffield
	S11 8FT

Cinch Contracting Services Limited

Strategic Report

Year ended 31 July 2025

Review of the business The results of the company during the period have produced at profit after tax of £47.7k, which is an increase to the previous year's profitability. The company has experienced large growth in the last few years due to recent changes in legislation. The company has also continued a growth drive including employing regional sales personnel. The directors of the company act in the way they consider, in good faith, is 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: - The likely consequences of any decision in the long term; - The interests of the company's employees; - The need to foster the company's business relationships with suppliers, customers and others; - The impact of the company's operations on the community and the environment; - The desirability of the company maintaining a reputation for high standards of business conduct; and - The need to act fairly as between members of the company. The Board regularly reviews and discusses how to maintain effective relationships with various stakeholders throughout day-to-day business operations, other activities, and ad hoc events. The Board understands the importance of good and regular two-way communication with suppliers, customers, and employees using a variety of channels and approaches, depending on which is deemed appropriate to each set of circumstances.

Strategy The company's success is dependent on its ability to keep up to date with all the statutory changes in the industry and maintain the level of service provided to both end clients and the individuals who are engaged by the company to undertake the work. The company will continue to consolidate its market position and concentrate its efforts on achieving maximum growth in its existing market segments. We aim to improve efficiency in all areas of our operations through cost reduction and improved systems and processes whilst maintaining the highest levels of customer service.

Principal risks and uncertainties The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to management approval and ongoing review. The company has developed a framework for identifying the risks that it is exposed to and their impact on economic capital. This process is risk based and uses individual capital assessment principles to manage our capital requirements and to ensure we have the financial strength and capital adequacy to support the growth of the business. The principal risks from our business arise from inaccurate processing of client timesheets leading to inaccurate data processing and inaccurate disclosures being made to HM Revenue and Customs, leading to possible penalties.

Key Performance Indicators In the opinion of the directors the key performance indicators are the level of turnover and the gross margin achieved.

This report was approved by the board of directors on 29 April 2026 and signed on behalf of the board by:

Mr K Singh Jittlar
Director

Registered office:

Unit 4d Parkway Rise

Sheffield

S9 4WQ

Cinch Contracting Services Limited

Director's Report

Year ended 31 July 2025

The director presents his report and the financial statements of the company for the year ended 31 July 2025 .

Principal activities

The principal activity of the company during the year was the provision of professional services for contractors and freelance individuals operating within the United Kingdom.

Director

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

Mr K Singh Jittlar

Dividends

The director does not recommend the payment of a dividend.

Future developments

The Director expects the 2025 year to continue the performance achieved in 2024. The director also acknowledges the need to foster business relationships with customers and suppliers that are not connected companies, including their effect on the key decisions taken during the year.

Greenhouse gas emissions and energy consumption

Information not included

- The company consumed 40,000kWh of energy or less in the UK during the period therefore has taken advantage of the exemption to not disclose further details in the annual accounts.

Employment of disabled persons

Applications for employments 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, every effort is made to ensure that their employment within the company continues and that the appropriate training is 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 other employees.

Employee involvement

The company's policy is to consult and discuss with employees at meetings on matters likely to affect the employees' interests. Information of matters of concern to employees is given through information bulletins and reports, which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

Financial instruments

The company has a cautious approach to the use of financial instruments, with a bank current account being the preferred approach. This ensures that there is minimal risk when considering cash flow and also means that funds are readily available to fund future development plans. No further financial instruments are held.

Research and development

There are no research and development activities relevant for this business, due to the nature of the business being carried out.

Director's responsibilities statement

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 he 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; - 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 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 them to ensure that the financial statements comply with the Companies Act 2006. He is 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. 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 29 April 2026 and signed on behalf of the board by:

Mr K Singh Jittlar
Director

Registered office:

Unit 4d Parkway Rise

Sheffield

S9 4WQ

Cinch Contracting Services Limited

Independent Auditor's Report to the Members of Cinch Contracting Services Limited

Year ended 31 July 2025

Opinion

We have audited the financial statements of Cinch Contracting Services Limited (the 'company') for the year ended 31 July 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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 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 July 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have 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 in relation to which 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 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 the director

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: Audit response to risks identified As a result of performing the above, we identified income recognition and payroll processing controls as key audit matters related to the potential risk of fraud. In order to mitigate the risk identified, enquiries were made of key management personnel as to the processes surrounding the processing of payroll, recording of transactions (including bank transactions) and these were reviewed in detail. In addressing the risk of fraud through management override of controls, our procedures included reviewing and testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Due to the minimal number of transactions throughout the financial year it was clear that there had been no management override of controls and that each transaction had been correctly and properly recorded as appropriate. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non compliance with laws and regulations throughout the audit. 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 auditor's 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.

Stephen Allen

(Senior Statutory Auditor)

For and on behalf of

Allen, West and Foster Limited

Chartered accountants & statutory auditor

Omega Court

364-366 Cemetery Road

Sheffield

S11 8FT

29 April 2026

Cinch Contracting Services Limited

Statement of Income and Retained Earnings

Year ended 31 July 2025

		2025	2024
Note		£	£
Turnover	4	49,563,250	43,800,469

Cost of sales	48,796,205	43,176,375
	------------	------------
Gross profit	767,045	624,094

Administrative expenses		780,022	564,016
		---------	---------
Operating (loss)/profit	5	( 12,977)	60,078

Other interest receivable and similar income	8	48,448	3,579
		---------	---------
Profit before taxation		35,471	63,657

Tax on profit	9	12,594	15,914
		-------	-------
Profit for the financial year and total comprehensive income		22,877	47,743
		-------	-------

Retained earnings at the start of the year	144,584	96,841
	---------	---------
Retained earnings at the end of the year	167,461	144,584
	---------	---------

All the activities of the company are from continuing operations.

Cinch Contracting Services Limited

Statement of Financial Position

31 July 2025

	2025	2024
Note	£	£

Current assets

Debtors	10	3,026,563	2,344,573
Cash at bank and in hand		874,348	828,789
		-----------	-----------
		3,900,911	3,173,362

Creditors: amounts falling due within one year	11	3,733,446	3,007,130
		-----------	-----------
Net current assets		167,465	166,232
		---------	---------
Total assets less current liabilities		167,465	166,232

Creditors: amounts falling due after more than one year	12	–	21,644
		---------	---------
Net assets		167,465	144,588
		---------	---------

Capital and reserves

Called up share capital	14	4	4
Profit and loss account		167,461	144,584
		---------	---------
Shareholders funds		167,465	144,588
		---------	---------

These financial statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

Mr K Singh Jittlar
Director

Company registration number: 09186411

Cinch Contracting Services Limited

Statement of Cash Flows

Year ended 31 July 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	22,877	47,743

Adjustments for:
Other interest receivable and similar income	( 48,448)	( 3,579)
Tax on profit	12,594	15,914
Accrued expenses/(income)	9,644	( 31,952)

Changes in:
Trade and other debtors	( 681,990)	724,676
Trade and other creditors	708,597	( 661,965)
	---------	---------
Cash generated from operations	23,274	90,837

Interest received	48,448	3,579
Tax paid	( 20,077)	–
	-------	-------
Net cash from operating activities	51,645	94,416
	-------	-------

Cash flows from financing activities

Proceeds from borrowings	( 6,086)	( 10,720)
	-------	-------
Net cash used in financing activities	( 6,086)	( 10,720)
	-------	-------

Net increase in cash and cash equivalents	45,559	83,696
Cash and cash equivalents at beginning of year	828,789	745,093
	---------	---------
Cash and cash equivalents at end of year	874,348	828,789
	---------	---------

Cinch Contracting Services Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4d Parkway Rise, Sheffield, S9 4WQ.

2. Statement of compliance

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. Cash and cash equivalents - these comprise cash at bank Debtors - These do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Trade creditors - These are not interest bearing and are stated at their nominal value.

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 as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	49,563,250	43,800,469
	------------	------------

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

5. Operating (loss)/profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Impairment of trade debtors	7	1
	----	----

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	5,500	5,000
	------	------

7. Staff costs

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

	2025	2024
	No.	No.
Administrative staff	248	272
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	47,793,351	41,941,409
Social security costs	757,340	939,350
Other pension costs	48,695	68,346
	------------	------------
	48,599,386	42,949,105
	------------	------------

8. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	43,219	–
Interest on bank deposits	5,229	3,579
	-------	------
	48,448	3,579
	-------	------

9. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	12,594	15,914
	-------	-------
Tax on profit	12,594	15,914
	-------	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: the same as) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	35,471	63,657
	-------	-------
Profit on ordinary activities by rate of tax	8,868	15,914
Effect of expenses not deductible for tax purposes	3,726	–
	-------	-------
Tax on profit	12,594	15,914
	-------	-------

10. Debtors

	2025	2024
	£	£
Trade debtors	2,647,659	1,636,131
Prepayments and accrued income	66,708	80
Other debtors	312,196	708,362
	-----------	-----------
	3,026,563	2,344,573
	-----------	-----------

Included within other debtors is an amount of £264,880 (2024 - £699,364) owed from FFDP Limited to Cinch Contracting Services Limted. FFDP Limited is a related party by virtue of common ownership.

11. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,558	–
Trade creditors	136,665	60,412
Accruals and deferred income	61,405	51,761
Corporation tax	12,594	20,077
Social security and other taxes	2,707,124	1,665,397
Net Wages and deductions	800,100	644,539
Cinch Support Services Intercompany	–	564,944
	-----------	-----------
	3,733,446	3,007,130
	-----------	-----------

Included within other creditors in 2024 are amounts owed to a related company, Cinch Support Services, who is owed £564,944. During the 2025 year end the balance was transferred to WeDo Business Finance, a company the director owns 30% of.

12. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	21,644
	----	-------

13. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 48,695 (2024: £ 68,346 ).

14. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----

15. Analysis of changes in net debt

	At 1 Aug 2024	Cash flows	At 31 Jul 2025
	£	£	£
Cash at bank and in hand	828,789	45,559	874,348
Debt due within one year	–	(15,558)	(15,558)
Debt due after one year	(21,644)	21,644	–
	---------	-------	---------
	807,145	51,645	858,790
	---------	-------	---------

16. Charges on assets

There is a fixed and floating charge over the assets of the company in place in favour of Barclays Bank Plc dated 12 February 2018.