1 October 2024 v2026.19.1 limited_company_frs_102_section_1a_v1_1_3 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP SC123427 2024-10-01 2025-09-30 SC123427 2025-09-30 SC123427 2024-09-30 SC123427 core:WithinOneYear 2025-09-30 SC123427 core:WithinOneYear 2024-09-30 SC123427 core:AfterOneYear 2025-09-30 SC123427 core:AfterOneYear 2024-09-30 SC123427 core:ShareCapital 2025-09-30 SC123427 core:ShareCapital 2024-09-30 SC123427 core:RetainedEarningsAccumulatedLosses 2025-09-30 SC123427 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC123427 bus:Director1 2024-10-01 2025-09-30 SC123427 bus:RegisteredOffice 2024-10-01 2025-09-30 SC123427 core:PlantMachinery 2024-10-01 2025-09-30 SC123427 core:OfficeEquipment 2024-10-01 2025-09-30 SC123427 core:MotorVehicles 2024-10-01 2025-09-30 SC123427 2023-10-01 2024-09-30 SC123427 core:PlantMachinery 2024-10-01 SC123427 core:PlantMachinery 2025-09-30 SC123427 core:PlantMachinery 2024-09-30 SC123427 core:CostValuation 2024-10-01 SC123427 core:CostValuation 2025-09-30 SC123427 1 2024-10-01 2025-09-30 SC123427 countries:Scotland 2024-10-01 2025-09-30 SC123427 bus:AuditExempt-NoAccountantsReport 2024-10-01 2025-09-30 SC123427 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 SC123427 bus:SmallEntities 2024-10-01 2025-09-30 SC123427 bus:FullAccounts 2024-10-01 2025-09-30
Company registration number:
SC123427
Key Personnel Recruitment Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2025
Key Personnel Recruitment Limited
Statement of Financial Position
30 September 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 40,463 |  | 52,622 |
Investments | 6 | 75 |  | 75 |
|  | 40,538 |  | 52,697 |
Current assets |  |  |  |  |
Debtors | 7 | 1,045,154 |  | 685,918 |
Cash at bank and in hand |  | 2,894 |  | 873 |
|  | 1,048,048 |  | 686,791 |
Creditors: amounts falling due within one year | 8 | (980,997 | ) | (625,089 | )
Net current assets |  | 67,051 |  | 61,702 |
Total assets less current liabilities |  | 107,589 |  | 114,399 |
Creditors: amounts falling due after more than one year | 9 | (20,657 | ) | (24,865 | )
Provisions for liabilities |  | (8,870 | ) | (13,157 | )
Net assets |  | 78,062 |  | 76,377 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 100 |  | 100 |
Profit and loss account |  | 77,962 |  | 76,277 |
Shareholders funds |  | 78,062 |  | 76,377 |

For the year ending
30 September 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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

Mr A M Bisset
Director

Company registration number:
SC123427
Key Personnel Recruitment Limited
Notes to the Financial Statements
Year ended
30 September 2025

## 1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
First Floor 2b Valentine Court
,
Kinnoull Road
,
Dundee
,
DD2 3QB
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Going concern

At the time of approving the financial statements, the Directors are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future and in particular the next 12 months. The Directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

## Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, 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.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

## Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery | 20% straight line
Office equipment | 33% straight line
Motor vehicles | 10% straight line

## Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

## 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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## Defined contribution pension plan

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.

## Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

## Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

## 4 Average number of employees

The average number of persons employed by the company during the year was
5
(2024:
6
).

## 5 Tangible assets

| Plant and machinery etc.
--- | ---
| £
Cost |  |
At 1 October 2024 | 82,863 |
Disposals | (773 | )
At 30 September 2025 | 82,090 |
Depreciation |  |
At 1 October 2024 | 30,241 |
Charge | 12,157 |
Disposals | (771 | )
At 30 September 2025 | 41,627 |
Carrying amount |  |
At 30 September 2025 | 40,463 |
At 30 September 2024 | 52,622 |

## 6 Investments

| Other investments other than loans
--- | ---
| £
Cost |  |
At 1 October 2024 | 75 |
At 30 September 2025 | 75 |
Impairment |  |
At 1 October 2024 and 30 September 2025 | - |
Carrying amount |  |
At 30 September 2025 | 75 |
At 30 September 2024 | 75 |

## 7 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 532,657 |  | 560,459 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 455,717 |  | 106,220 |
Other debtors | 56,780 |  | 19,239 |
| 1,045,154 |  | 685,918 |

## 8 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Trade creditors | 7,830 |  | 3,828 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 179,918 |  | - |
Taxation and social security | 339,947 |  | 256,611 |
Other creditors | 453,302 |  | 364,650 |
| 980,997 |  | 625,089 |

Other creditors includes an amount of £278,200 (2023: £192,843) in respect of invoice discounters. The balance is secured against the trade debtors balances. The Royal Bank of Scotland holds a bond and floating charge over all the assets of the company.
The company has granted to its bankers a cross guarantee in respect of the company's bank balance and those of all other group companies.

## 9 Creditors: amounts falling due after more than one year

| 2025 | 2024
--- | --- | ---
| £ | £
Other creditors | 20,657 |  | 24,865 |

## 10 Controlling party

The company is a wholly owned subsidiary undertaking of Cortachy Holdings Limited, a company incorporated in Scotland. Cortachy Holdings Limited is a wholly owned subsidiary undertaking of DP & L Holdings Limited of which Mr A M Bisset is the controlling director. The financial statements of DP & L Holdings Limited may be obtained from First Floor 2b Valentine Court, Kinnoull Road, Dundee, Scotland, DD2 3QB.