Tulloch Recruitment (Aberdeen) Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3—4
Independent Auditor's Report	5—8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Statement of Cash Flows	14
Notes to the Financial Statements	15—22

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Strategic Report

For The Year Ended 31 August 2025

Strategic Report

The directors present their strategic report for the year ended 31 August 2025.

Review of the Business

The company continues to specialise in the provision of temporary staff to primarily the oil and gas industry.

The company is recognised internationally for providing quality permanent and temporary recruitment services in the trades and disciplines of front-line offshore and onshore operations. The company supplies permanent and temporary personnel in Offshore/Drilling, Trades, Commercial, Industrial, Engineering & Construction industries.

We consider the key performance indicators to be those which reflect the financial performance and strength of the company, these being turnover, gross profit margins and net profit before tax.

The gross profit to 31 August 2025 is £1,511,244 (2024: £1,650,127).

Net profit before tax to 31 August 2025 is £454,953 (2024: £705,806).

With oil prices on a downward trend since 2014, oil & gas companies have consequently been scaling down their Capex and deferring offshore projects. This has had a direct effect on performance as contracts were re-negotiated for lower day-rates and in some cases the cancelling of contracts causing major uncertainty.

Moving on from this previous decline, a shift has been seen in the market which is presented by the continued performance experienced by the company.

Principal Risks and Uncertainties

Risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management. Compliance with all regulation and legal requirements is a high priority for the company.

The principal risks and uncertainties for the business are considered to be the oil price and the direct impact fluctuations in this price have on the economic and financial market. The company is continually reviewing and adapting to industry movements accordingly.

The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs. The polices set by the board of directors are implemented by the company's finance department.

All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Future Developments

The company is a multi-disciplined recruitment business which has developed a proven track record for providing specialist personnel to clients across the Oil & Gas and Renewable industries. As a consequence of the ever changing fluctuations in oil price and the effect this has on clients, there continues to be pressure on margins.

On behalf of the board

Ms C Donaldson

Director

6 May 2026

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Tulloch Recruitment (Aberdeen) Limited

Company No. SC144511

Directors' Report For The Year Ended 31 August 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 August 2025.

Principal Activity

The company's principal activity continues to be that of an employment agency and the provision of temporary staff.

Dividends

No dividends will be distributed for the year ended 31 August 2025.

Political Donations and Expenditure

During the year, the company has made charitable donations to local charities. There were no political donations made.

Directors

The directors who held office during the year were as follows:

Mr T Allan

Ms C Donaldson

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 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 directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Tulloch Recruitment (Aberdeen) Limited

Directors' Report (continued)

For The Year Ended 31 August 2025

Independent Auditors

The auditors, Nuvo Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Ms C Donaldson

Director

6 May 2026

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Independent Auditor's Report

to the Members of

Tulloch Recruitment (Aberdeen) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Tulloch Recruitment (Aberdeen) Limited for the year ended 31 August 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit/(loss) 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 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 entity's ability to continue as a going concern for a period of at least 12 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.

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 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. 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 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.

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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Tulloch Recruitment (Aberdeen) Limited

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 Directors' 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 or returns; or
certain disclosures of directors' 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 Directors' Responsibilities Statement set out on page 3—4, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Tulloch Recruitment (Aberdeen) Limited

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

All engagement team members were briefed on relevant identified laws and regulations and potential fraud risks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks identified include:

UK GAAP

Companies Act 2006

Corporation Tax legislation

VAT legislation

Health and Safety legislation

We gained an understanding of how the company is complying with these laws and regulations by:

enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims;

enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussions with management and those charged with governance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with governance were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management oversee the implementation and operation of controls. In areas of the financial statements where the risks were considered to be higher, we performed procedures to address each identified risk. The following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

reviewing the level of and reasoning behind the company's procurement of legal and professional services;

performing audit procedures over the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business and reviewing judgements made by the management in their calculation of accounting estimates for potential management bias.

Our audit procedures were designed to respond to the risk of material misstatement in the financial statements, recognising that the risk of not detecting a material risk due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Tulloch Recruitment (Aberdeen) Limited

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 that 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.

Alison Brown (Senior Statutory Auditor)

for and on behalf of Nuvo Audit Limited , Statutory Auditor

11 May 2026

Nuvo Audit Limited

First Floor, Sterling House

Outrams Wharf

Litte Eaton

Derby

DE21 5EL

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Tulloch Recruitment (Aberdeen) Limited

Profit and Loss Account

For The Year Ended 31 August 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	10,652,077	10,823,991
Cost of sales		(9,140,833 )	(9,173,864 )

GROSS PROFIT		1,511,244	1,650,127

Administrative expenses		(960,322 )	(849,728 )

OPERATING PROFIT	4	550,922	800,399
Loss on disposal of fixed assets		(98 )	(1,068 )
Other interest receivable and similar income	9	9,283	7,071
Interest payable and similar charges	10	(105,154 )	(100,596 )

PROFIT BEFORE TAXATION		454,953	705,806
Tax on Profit	11	(175,160 )	(245,363 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		279,793	460,443

The notes on pages 14 to 22 form part of these financial statements.

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Tulloch Recruitment (Aberdeen) Limited

Statement of Comprehensive Income

For The Year Ended 31 August 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	279,793	460,443
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	279,793	460,443

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Tulloch Recruitment (Aberdeen) Limited

Balance Sheet

As At 31 August 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		148,366		137,130
Investments	13		20,000		20,000

			168,366		157,130
CURRENT ASSETS
Debtors	14	6,379,954		6,260,987
Cash at bank and in hand		309,356		444,483

		6,689,310		6,705,470
Creditors: Amounts Falling Due Within One Year	15	(5,266,449 )		(5,580,172 )

NET CURRENT ASSETS (LIABILITIES)			1,422,861		1,125,298

TOTAL ASSETS LESS CURRENT LIABILITIES			1,591,227		1,282,428

Creditors: Amounts Falling Due After More Than One Year	16		(37,726 )		(8,720 )

NET ASSETS			1,553,501		1,273,708

CAPITAL AND RESERVES
Called up share capital	18		1,000		1,000
Profit and Loss Account			1,552,501		1,272,708

SHAREHOLDERS' FUNDS			1,553,501		1,273,708

The financial statements were approved by the board of directors on 6 May 2026 and were signed on its behalf by:

Ms C Donaldson

Director

The notes on pages 14 to 22 form part of these financial statements.

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Tulloch Recruitment (Aberdeen) Limited

Statement of Changes in Equity

For The Year Ended 31 August 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 September 2023	1,000	812,265	813,265
Profit for the year and total comprehensive income	-	460,443	460,443

As at 31 August 2024 and 1 September 2024	1,000	1,272,708	1,273,708


Profit for the year and total comprehensive income	-	279,793	279,793

As at 31 August 2025	1,000	1,552,501	1,553,501

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Tulloch Recruitment (Aberdeen) Limited

Statement of Cash Flows

For The Year Ended 31 August 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	720,547	423,450
Interest paid		(105,154 )	(100,597 )
Tax paid		(211,674 )	(225,360 )

Net cash generated from operating activities		403,719	97,493

Cash flows from investing activities
Purchase of tangible assets		(57,261 )	(4,276 )
Interest received		9,283	7,071

Net cash (used in)/generated from investing activities		(47,978 )	2,795

Cash flows from financing activities
Repayment of bank borrowings		(18,965 )	(9,999 )
Repayment of finance leases		45,184	-
Proceeds from new loans from group undertakings		229,329	582,605
Advance of new loans to group undertakings		(746,416 )	(634,261 )
Amount withdrawn by directors		-	(3,679)

Net cash used in financing activities		(490,868 )	(65,334 )



(Decrease)/increase in cash and cash equivalents		(135,127 )	34,954
Cash and cash equivalents at beginning of year	2	444,483	409,529

Cash and cash equivalents at end of year	2	309,356	444,483

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 August 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	279,793	460,443
Adjustments for:
Tax on profit	175,160	245,363
Interest expense	105,154	100,596
Interest income	(9,287 )	(7,071 )
Depreciation of tangible assets	45,927	45,561
Loss on disposal of tangible assets	98	1,068
Foreign exchange losses	6	-
Movements in working capital:
Decrease/(increase) in trade and other debtors	627,447	(127,907 )
Decrease in trade and other creditors	(503,751 )	(294,603 )

Net cash generated from operations	720,547	423,450

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	309,356	444,483

3. Analysis of changes in net debt

	As at 1 September 2024	Cash flows	As at 31 August 2025
	£	£	£
Cash at bank and in hand	444,483	(135,127)	309,356
Finance leases	-	(45,184)	(45,184)
Debts falling due within one year	(2,690,951 )	(219,084)	(2,910,035 )
Debts falling due after more than one year	(8,720)	8,720	-

	(2,255,188)	(390,675)	(2,645,863)

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

Tulloch Recruitment (Aberdeen) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC144511 . The registered office is 28 Albyn Place, Aberdeen, AB10 1YL.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

2.2. Exemption From Preparing Consolidated Financial Statements

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

2.3. Turnover

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

Turnover represent the provision of personnel to clients. Turnover is recognised on the completion of approved timesheets and on placement of personnel.

2.4. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements to property	10% on cost
Motor Vehicles	25% reducing balance
Fixtures & Fittings	33% on cost
Computer Equipment	33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

2.5. Investments

Investments held as fixed assets are stated at cost less provisions for permanent diminution in value.

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	10,652,077	10,823,991

	10,652,077	10,823,991

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	2,512	-
Depreciation of tangible fixed assets	45,927	45,561

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	8,767	8,676

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	8,602,188	8,658,902
Social security costs	821,448	754,248
Other pension costs	86,273	78,111

	9,509,909	9,491,261

During the year the company has paid £2,371 (2024: £1,752) to a Group Death in Service Benefits Scheme.

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	9	9
Temping	117	115

	126	124

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	48,049	10,650
Company contributions to money purchase pension schemes	3,800	1,800

	51,849	12,450

The number of directors to whom retirement benefits were accruing was as follows:

	2025		2024
Money purchase pension schemes	1		1

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	382	6,356
HMRC interest receivable	-	715
Loan interest receivable	8,901	-

	9,283	7,071

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	4,210	5,782
HMRC interest payable	7,380	-
Interest payable to group undertakings	-	3,543
Finance charges payable under finance leases and hire purchase contracts	1,939	-
Other finance charges	91,625	91,271

	105,154	100,596

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

11. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	175,160	245,363


Total tax charge for the period			175,160	245,363


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			454,953	705,806

Tax on profit at 25% (UK standard rate)			113,738	176,452
Goodwill/depreciation not allowed for tax			11,481	11,390
Expenses not deductible for tax purposes			58,308	67,225
Capital allowances			(4,997 )	(1,983 )
Group relief			(3,370 )	(7,721 )

Total tax charge for the period			175,160	245,363

12. Tangible Assets

	Land & Property
	Improvements to property	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 September 2024	72,354	220,741	28,932	16,632	338,659
Additions	3,500	52,133	-	1,628	57,261
Disposals	-	-	-	(562 )	(562 )

As at 31 August 2025	75,854	272,874	28,932	17,698	395,358

Depreciation
As at 1 September 2024	44,443	118,613	25,075	13,398	201,529
Provided during the period	3,682	37,480	1,918	2,847	45,927
Disposals	-	-	-	(464 )	(464 )

As at 31 August 2025	48,125	156,093	26,993	15,781	246,992

Net Book Value
As at 31 August 2025	27,729	116,781	1,939	1,917	148,366

As at 1 September 2024	27,911	102,128	3,857	3,234	137,130

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	40,186	-

13. Investments

	Unlisted
	£
Cost or Valuation
As at 1 September 2024	20,000

As at 31 August 2025	20,000

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	20,000

As at 1 September 2024	20,000

Subsidiaries

Details of the company's subsidiaries as at 31 August 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Team Recruitment (Aberdeen) Limited	28 Albyn Place, Aberdeen, Ab10 1YL	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Team Recruitment (Aberdeen) Limited	3,139,980	133,342

14. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,981,170	2,338,035
Prepayments and accrued income	91,072	333,433
Other debtors	105,363	133,586
Amounts owed by group undertakings	4,202,349	3,455,933

	6,379,954	6,260,987

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

15. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	7,458	-
Trade creditors	93,458	45,576
Bank loans and overdrafts	-	10,245
Corporation tax	116,567	153,081
Other taxes and social security	208,012	212,599
VAT	273,867	307,341
Other creditors	1,574,408	1,836,342
Accruals and deferred income	82,644	334,282
Amounts owed to group undertakings	2,910,035	2,680,706

	5,266,449	5,580,172

16. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	37,726	-
Bank loans	-	8,720

	37,726	8,720

The following secured debts are included within other creditors

	2025		2024
	£		£
Other Creditors	1,384,881		1,562,578

A Bond and Floating Charge is held by the bank over the whole assets of the company.

A Corporate Guarantee is in place, executed by SLLP 246 Limited.

A Multi Client Guarantee is in place, executed by Team Recruitment (Aberdeen) Limited.

The invoice discounting advance is secured over £1,936,482 (2024: £2,338,035) of the company's trade debtors under an Invoice Discounting Agreement with RBS Invoice Finance Limited.

17. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,458	-
Later than one year and not later than five years	37,726	-

	45,184	-

	45,184	-

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Tulloch Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

18. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1.00 each	1,000	1,000

19. Capital Commitments

	2025	2024
	£	£
At the end of the period	-	54,133

At the end of the period, the company had capital commitments contracted for but not provided in these financial statements

20. Other Commitments

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

	2025	2024
	£	£
Not later than one year	33,811	33,811
Later than one year and not later than five years	114,885	120,196
Later than five years	28,500	57,000

	177,196	211,007

21. Pension Commitments

The company's defined contribution pension cost for the year was £82,473 (2024: £76,311). At the balance sheet date contributions of £12,057 (2024: £18,664) were due to the outstanding and are included in creditors.

22. Related Party Disclosures

The company has taken advantage of exemption, under the terms 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

Key management personnel (including directors) received compensation of £57,725 (2024: £12,639)

506 and 508 Union Street are owned by a small self administered pension scheme ("SSAS") of which a director is a trustee. During the year rent for the premises of £28,500 (2024: £28,500) was paid to the pension scheme.

As at 31 August 2025, there is a balance due from a company of £105,172 (2024: £112,672) that is controlled and directed by common directors.

23. Controlling Parties

The company's immediate parent undertaking is SLLP 246 Limited .

The ultimate parent undertaking is SLLP 246 Limited (incorporated in Scotland). Its registered office is 28 Albyn Place, Aberdeen, United Kingdom, AB10 1YL .

The company's ultimate controlling party is Mr T Allan .

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