New Recruits Professional Services Limited Company accounts

COMPANY REGISTRATION NUMBER: 07055014

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2025

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2025

Contents	Page

Strategic report	1

Director's report	2

Independent auditor's report to the members	4

Profit and loss account	7

Balance sheet	8

Statement of changes in equity	9

Statement of cash flows	10

Notes to the financial statements	11

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

STRATEGIC REPORT

YEAR ENDED 31 OCTOBER 2025

The director presents his strategic report for the year ended 31 October 2025. PRINCIPAL ACTIVITIES OF THE COMPANY The principal activity of the company continues to be the provision of temporary and permanent recruitment services . REVIEW OF THE BUSINESS AND FUTURE DEVELOPMENTS The industry has experienced a significant increase in the use of temporary workers, however due to a slow down in production at a major customer factory, there was a significant temporary decrease in numbers. We have successfully capitalised on new opportunities by securing additional contracts to meet both the temporary and permanent staffing needs of our clients. While this has been a successful year overall we remain mindful of the potential influence of a new government and the implications this may have in the coming year. The Director continues to actively monitor developments and assess the company's position to ensure we remain well-prepared for future changes. PRINCIPAL RISKS AND UNCERTAINTIES The company's services are dependent upon both the economic climate and staffing needs of it's clients. Any variation in either may reduce the demand for the company's services, with the anticipated decrease in revenue and profit. The recruitment business is a highly competitive market, and therefore the company is always looking to seek individuals for employment placement, whether temporary or permanent. The company is also continually looking to expand its client portfolio as the director is aware of the risk involved with dependency on larger clients. The company's success has arisen due to its reputation within the recruitment market, and is keen to ensure that there are no events that could adversely affect the reputation of the business. The company's improving performance is very dependent on the calibre of staff employed, and continues to offer incentives and benefits to support the long term relationship of it's valued employees. The company must comply with an ever increasing amount of compliance regulations. Whilst the company has had no material difficulty complying with regulation, it is aware that staff needs to be provided with regular updates and training in both legal and compliance requirements.

This report was approved by the board of directors on 30 July 2026 and signed on behalf of the board by:

S D McCarthy
Director

Registered office:

11 Church Lane

Banbury

OX16 5LR

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

DIRECTOR'S REPORT

YEAR ENDED 31 OCTOBER 2025

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

Director

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

S D McCarthy

Dividends

Particulars of recommended dividends are detailed in note 10 to the financial statements.

Employment of disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the applicant concerned. In the event of staff members become disabled, every effort is made to ensure that their employment with the group continues and that appropriate training is arranged. It is the policy of the group and 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 promotes employee engagement through regular communication, feedback, and training. Input from both internal staff and temporary workers is valued and contributes to operational improvements and service delivery.

Disclosure of information in the strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the director's report. It has done so in respect of future developments and financial risk management.

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; - 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. Statement of disclosure of information to auditors

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 30 July 2026 and signed on behalf of the board by:

S D McCarthy
Director

Registered office:

11 Church Lane

Banbury

OX16 5LR

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW RECRUITS PROFESSIONAL SERVICES LIMITED

YEAR ENDED 31 OCTOBER 2025

Qualified opinion on financial statements

We have audited the financial statements of New Recruits Professional Services Limited (the 'company') for the year ended 31 October 2025 which comprise the profit and loss account, balance sheet, statement of changes in equity, 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, except for the effects of the matter described in the basis for qualified opinion section of our report, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 October 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 qualified opinion

In respect of the prior year ended 31 October 2024, we could not corroborate the figure included within creditors for the holiday pay accrual, as the report used to determine the figure was not retained and could not be run retrospectively. Further to this, in the prior year we also could not gain comfort over the figures provided in respect of the Coventry branch as complete records from the branch were not kept and so it was not possible to complete our testing on the samples selected from that branch. Thus, we could not gain comfort over the comparative figures in these financial statements. 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 qualified 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 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. Our responsibility is to read the other information and, in in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 of this other information, we are required to report that fact. As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the comparative figures in the financial statements due to the fact we were not able to satisfy ourselves over the holiday pay accrual balance, or the results from the Coventry branch in that year. We have concluded that where the other information refers to these issues, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matters described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, 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. Arising solely from the limitation of scope of our work relating to the issues referred to in the basis for qualified opinion section of our report above: - we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and - we were unable to determine whether adequate accounting records have been kept. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - 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 directors' remuneration specified by law are not made.

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 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 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 have 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 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 extend to which our procedures are capable of detect irregularities, including fraud are detailed below. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also performed the following procedures: - Enquiry of management and those charged with governance 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 minutes of meetings of those charged with governance. - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. - Auditing 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. A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 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.

Leigh Dudley FCCA

(Senior Statutory Auditor)

For and on behalf of

Ellacotts Audit Services Limited

Chartered Accountants & Statutory Auditor

Countrywide House

23 West Bar

Banbury

Oxfordshire

England

OX16 9SA

31 July 2026

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

PROFIT AND LOSS ACCOUNT

YEAR ENDED 31 OCTOBER 2025

		2025	2024
Note		£	£
Turnover	4	9,896,980	10,712,770

Cost of sales	8,656,737	9,052,630
	-----------	------------
Gross profit	1,240,243	1,660,140

Administrative expenses		1,033,577	1,112,649
		-----------	-----------
Operating profit	5	206,666	547,491

Interest payable and similar expenses	8	22,212	37,156
		-----------	-----------
Profit before taxation		184,454	510,335

Tax on profit	9	52,091	138,223
		--------	--------
Profit for the financial year and total comprehensive income		132,363	372,112
		--------	--------

All the activities of the company are from continuing operations.

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

BALANCE SHEET

31 October 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	11		169,438		59,019

Current assets

Debtors	12	2,158,525	2,382,061
Cash at bank and in hand		521,264	515,734
		-----------	-----------
		2,679,789	2,897,795

Creditors: amounts falling due within one year	13	( 2,543,441)		( 2,632,076)
		-----------		-----------
Net current assets			136,348		265,719
			--------		--------
Total assets less current liabilities			305,786		324,738

Creditors: amounts falling due after more than one year	14		( 117,897)		( 61,569)

Provisions

Taxation including deferred tax	16	2,885	( 758)
		--------	--------
Net assets		190,774	262,411
		--------	--------

Capital and reserves

Called up share capital	19	2	2
Profit and loss account	20	190,772	262,409
		--------	--------
Shareholders funds		190,774	262,411
		--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 30 July 2026 , and are signed on behalf of the board by:

S D McCarthy
Director

Company registration number: 07055014

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 OCTOBER 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 1 November 2023		2	46,297	46,299

Profit for the year			372,112	372,112
		----	--------	--------
Total comprehensive income for the year		–	372,112	372,112

Dividends paid and payable	10	–	( 156,000)	( 156,000)
		----	--------	--------
Total investments by and distributions to owners		–	( 156,000)	( 156,000)

At 31 October 2024		2	262,409	262,411

Profit for the year			132,363	132,363
		----	--------	--------
Total comprehensive income for the year		–	132,363	132,363

Dividends paid and payable	10	–	( 204,000)	( 204,000)
		----	--------	--------
Total investments by and distributions to owners		–	( 204,000)	( 204,000)

		----	--------	--------
At 31 October 2025		2	190,772	190,774
		----	--------	--------

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

STATEMENT OF CASH FLOWS

YEAR ENDED 31 OCTOBER 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	132,363	372,112

Adjustments for:
Depreciation of tangible assets	16,889	20,190
Interest payable and similar expenses	22,212	37,156
Gains on disposal of tangible assets	( 3,274)	( 297)
Tax on profit	52,091	138,223

Changes in:
Trade and other debtors	205,491	518,993
Trade and other creditors	179,779	( 1,140,174)
	--------	-----------
Cash generated from operations	605,551	( 53,797)

Tax received/(paid)	11,483	( 44,602)
	--------	-------
Net cash from/(used in) operating activities	617,034	( 98,399)
	--------	-------

Cash flows from investing activities

Purchase of tangible assets	( 17,500)	–
Proceeds from sale of tangible assets	9,650	1,844
	--------	-------
Net cash (used in)/from investing activities	( 7,850)	1,844
	--------	-------

Cash flows from financing activities

Proceeds from borrowings	( 358,738)	870,847
Repayments of borrowings	( 36,587)	( 33,022)
Repayments of loans from group undertakings	18,100	( 85,150)
Payments of finance lease liabilities	( 217)	–
Interest paid	( 22,212)	( 37,156)
Dividends paid	( 204,000)	( 156,000)
	--------	--------
Net cash (used in)/from financing activities	( 603,654)	559,519
	--------	--------

Net increase in cash and cash equivalents	5,530	462,964
Cash and cash equivalents at beginning of year	515,734	52,770
	--------	--------
Cash and cash equivalents at end of year	521,264	515,734
	--------	--------

NEW RECRUITS PROFESSIONAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 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 11 Church Lane, Banbury, OX16 5LR.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

After reviewing the company's position, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty

In applying the Company's accounting policies, the director is required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The critical judgements that the directors have made in the progress of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below. (i) Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the directors have considered both internal and external sources of information such as market conditions, counterparty credit ratings and experience recoverability. There have been no indicators of impairments identified during the current financial year. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (ii) Estimating value in use Where an indication of impairment exists the directors will carry out an impairment review to determine the recoverable amount, which is the higher of fair value less cost to sell and value in use. The value in use calculation requires the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit and a suitable discount rate in order to calculate present value. (iii) Recoverability of receivables The company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers. (iv) Determining useful economic lives of property, plant and equipment The company depreciate tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of 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.

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.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% Reducing balance
Motor Vehicles	-	25% Reducing balance
Equipment	-	25% Reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet 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

Basic financial assets, which include trade and other receivables, loans to associated companies and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	9,896,980	10,712,770
	-----------	------------

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

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	16,889	20,190
Gains on disposal of tangible assets	( 3,274)	( 297)
Impairment of trade debtors	19,803	977
	-------	-------

6. Staff costs

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

	2025	2024
	No.	No.
Production staff	353	410
Administrative staff	17	16
Management staff	1	1
	----	----
	371	427
	----	----

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

	2025	2024
	£	£
Wages and salaries	8,369,443	8,875,811
Social security costs	792,502	698,841
Other pension costs	95,916	97,658
	-----------	-----------
	9,257,861	9,672,310
	-----------	-----------

7. Director's remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	1,167	–
	------	----

8. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	7,282	10,848
Interest on obligations under finance leases and hire purchase contracts	1,110	–
Other interest payable and similar charges	13,820	26,308
	-------	-------
	22,212	37,156
	-------	-------

9. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	55,734	141,475

Deferred tax:

Origination and reversal of timing differences	( 3,643)	( 3,252)
	-------	--------
Tax on profit	52,091	138,223
	-------	--------

Reconciliation of tax expense

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

	2025	2024
	£	£
Profit on ordinary activities before taxation	184,454	510,335
	--------	--------
Profit on ordinary activities by rate of tax	46,114	127,584
Effect of expenses not deductible for tax purposes	5,977	10,670
Adjustment to opening deferred tax to average rate	–	( 31)
	--------	--------
Tax on profit	52,091	138,223
	--------	--------

10. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	204,000	156,000
	--------	--------

11. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 November 2024	6,966	156,289	59,832	223,087
Additions	–	133,684	–	133,684
Disposals	–	( 39,900)	–	( 39,900)
	------	--------	-------	--------
At 31 October 2025	6,966	250,073	59,832	316,871
	------	--------	-------	--------
Depreciation
At 1 November 2024	6,269	104,059	53,740	164,068
Charge for the year	174	15,192	1,523	16,889
Disposals	–	( 33,524)	–	( 33,524)
	------	--------	-------	--------
At 31 October 2025	6,443	85,727	55,263	147,433
	------	--------	-------	--------
Carrying amount
At 31 October 2025	523	164,346	4,569	169,438
	------	--------	-------	--------
At 31 October 2024	697	52,230	6,092	59,019
	------	--------	-------	--------

12. Debtors

	2025	2024
	£	£
Trade debtors	1,289,772	1,499,010
Prepayments and accrued income	22,481	18,734
Other debtors	846,272	864,317
	-----------	-----------
	2,158,525	2,382,061
	-----------	-----------

Included within trade debtors are balances totalling £1,289,772 (2024: £1,499,010) that are subject to factoring arrangements. These trade debtor balances have been transferred to the counterpart, though the transaction does not qualify for derecognition on the basis that the late payment risk is retained by the company. The associated liability recognised in other creditors amounts to £984,809 (2024: £1,343,547).

13. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	40,155	36,588
Trade creditors	36,668	16,563
Accruals and deferred income	206,172	268,175
Corporation tax	274,748	207,531
Social security and other taxes	872,177	579,079
Obligations under finance leases and hire purchase contracts	19,485	–
Director loan accounts	339	284
Other creditors	1,093,697	1,523,856
	-----------	-----------
	2,543,441	2,632,076
	-----------	-----------

Other creditors include liabilities totalling £984,809 (2024: £1,343,547) which are secured on the book debts of the company.

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

	2025	2024
	£	£
Bank loans and overdrafts	21,415	61,569
Obligations under finance leases and hire purchase contracts	96,482	–
	--------	-------
	117,897	61,569
	--------	-------

15. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	19,485	–
Later than 1 year and not later than 5 years	96,482	–
	--------	----
	115,967	–
	--------	----

16. Provisions

	Deferred tax (note 17)
	£
At 1 November 2024	758
Amounts recognised in profit and loss account	( 3,643)
	------
At 31 October 2025	( 2,885)
	------

17. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2025	2024
	£	£
Included in provisions (note 16)	( 2,885)	758
	------	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	( 595)	1,869
Deferred tax - other timing differences	(2,290)	(1,111)
	------	------
	(2,885)	758
	------	------

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 95,916 (2024: £ 97,658 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

20. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

21. Analysis of changes in net debt

	At 1 Nov 2024	Cash flows	At 31 Oct 2025
	£	£	£
Cash at bank and in hand	515,734	5,530	521,264
Debt due within one year	(36,588)	(23,107)	(59,695)
Debt due after one year	(61,569)	(56,328)	(117,897)
	--------	-------	--------
	417,577	( 73,905)	343,672
	--------	-------	--------

22. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	10,750	17,500
Later than 1 year and not later than 5 years	34,000	36,250
Later than 5 years	21,958	30,458
	-------	-------
	66,708	84,208
	-------	-------

The amount recognised in the profit and loss account as an expense in relation to operating leases was £17,500 (2024: £11,250).

23. Related party transactions

Information about related party transactions and outstanding balances are outlined below:

	31 Oct 25	31 Oct 24
	£	£

Amounts owed to key management personnel	£339	£284
Dividends paid to key management personnel	£204,000	£156,000
Rent purchased from other related parties	£22,000	£22,000
Amounts due from other related parties	£842,605	£850,225