Team Recruitment (Aberdeen) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

Team Recruitment (Aberdeen) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC176490 . 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 section 1A Small Entities "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. Significant judgements and estimations

In the application of the company's accounting policies, the directors are 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 considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover represents 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
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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within administrative expenses in the profit and loss account.

2.5. Leasing and Hire Purchase Contracts

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

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Team Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. 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.

2.7. 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.

2.8. 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.

2.9. 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.

2.10. 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.

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Team Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 68 (2024: 81)

4. Tangible Assets

	Land & Property
	Improvements to property	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 September 2024	89,841	28,879	16,912	135,632
Additions	3,500	-	-	3,500
Disposals	-	-	(562 )	(562 )

As at 31 August 2025	93,341	28,879	16,350	138,570

Depreciation
As at 1 September 2024	32,307	16,674	12,746	61,727
Provided during the period	7,421	8,019	3,071	18,511
Disposals	-	-	(464 )	(464 )

As at 31 August 2025	39,728	24,693	15,353	79,774

Net Book Value
As at 31 August 2025	53,613	4,186	997	58,796

As at 1 September 2024	57,534	12,205	4,166	73,905

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	799,789	1,291,879
Prepayments and accrued income	44,821	317,849
Other debtors	49,503	50,644
Amounts owed by group undertakings	2,910,035	2,680,706

	3,804,148	4,341,078

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	9,971	41,818
Corporation tax	74,685	180,885
Other taxes and social security	88,929	89,776
VAT	113,131	198,313
Other creditors	538,743	1,089,313
Accruals and deferred income	44,481	227,380

	869,940	1,827,485

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Team Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

7. Secured Creditors

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 Tulloch Recruitment (Aberdeen) Limited.

The invoice discounting advance is secured over £799,789 (2024: £1,291,879) of the company's trade debtors under an

Invoice Discounting Agreement with RBS Invoice Finance Limited.

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Other Creditors	423,971		923,013

8. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 September 2024	3,531	3,531
Deferred taxation	(1,759 )	(1,759 )

Balance at 31 August 2025	1,772	1,772

9. Other Commitments

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

	2025	2024
	£	£
Not later than one year	28,500	28,500
Later than one year and not later than five years	114,000	114,000
Later than five years	28,500	57,000

	171,000	199,500

10. Pension Commitments

The company's defined contribution pension cost for the year was £40,458 (2024: £46,314). Outstanding contributions as at the year end totalled £5,042 (2024: £6,350).

11. Related Party Transactions

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.

Key management personnel compensation for the year ended 31 August 2025 was £57,083 (2024: 10,714).

12. Ultimate Controlling Party

The company is controlled by its parent company, Tulloch Recruitment (Aberdeen) Limited.

SLLP 246 Limited is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling party is Mr T Allan.

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Team Recruitment (Aberdeen) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

13. Audit Information

The auditor's report on the accounts of Team Recruitment (Aberdeen) Limited for the year ended 31 August 2025 was unqualified.

The auditor's report was signed by Alison Brown (Senior Statutory Auditor) for and on behalf of Nuvo Audit Limited , Statutory Auditor.

Nuvo Audit Limited

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		58,796		73,905

			58,796		73,905
CURRENT ASSETS
Debtors	5	3,804,148		4,341,078
Cash at bank and in hand		148,748		422,671

		3,952,896		4,763,749
Creditors: Amounts Falling Due Within One Year	6	(869,940 )		(1,827,485 )

NET CURRENT ASSETS (LIABILITIES)			3,082,956		2,936,264

TOTAL ASSETS LESS CURRENT LIABILITIES			3,141,752		3,010,169

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,772 )		(3,531 )

NET ASSETS			3,139,980		3,006,638

CAPITAL AND RESERVES
Called up share capital			2		2
Profit and Loss Account			3,139,978		3,006,636

SHAREHOLDERS' FUNDS			3,139,980		3,006,638