Aspire People Limited Company accounts

COMPANY REGISTRATION NUMBER: 05276396

Aspire People Limited

Financial Statements

31 August 2025

Aspire People Limited

Financial Statements

Year ended 31 August 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Director's report	6

Independent auditor's report to the members	8

Statement of comprehensive income	12

Statement of financial position	13

Statement of changes in equity	14

Statement of cash flows	15

Notes to the financial statements	16

Aspire People Limited

Officers and Professional Advisers

Director	Mr D Dawkins

Registered office	2-3 Emmanuel Court
	Reddicroft
	Sutton Coldfield
	West Midlands
	B73 6BN

Auditor	bk plus Audit Limited
	Accountants and Business Advisers & statutory auditor
	Azzurri House
	Walsall Business Park
	Aldridge
	Walsall
	West Midlands
	WS9 0RB

Aspire People Limited

Strategic Report

Year ended 31 August 2025

Review of the Business

The company supplies temporary educational staff to schools and other educational establishments. We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

Overall, the Director is pleased with another year of strong trading performance and continued market expansion for the year ending 31 August 2025. The Company achieved Turnover growth of 8.2% compared with the previous year, and although gross profit margin decreased by 1.89 percentage points, this demonstrates the resilience of the business model and the continued demand for Aspire People's services across the education sector. During the year, the Company also made a number of strategic investments to support long-term growth, including increased investment in staffing, the opening of new office locations and enhanced marketing and advertising activity to strengthen brand presence and future market share.

During the year, the Company successfully secured a place on the Department for Education approved GCA (formerly CCS) Education Supply Teachers Framework following a highly competitive tender process. The Company continues to work within this framework alongside its own Preferred Supplier Scheme to deliver a high-quality and bespoke service to clients.

The Director continues to position the Company as a benchmark for quality within the education recruitment sector by maintaining its accreditation with REC and APSCO and by ensuring candidate files are independently audited on a bi-annual basis for quality control and compliance purposes.

During 2025 the Company continued to monitor education policy and funding commitments made by the Government, which underpin the Company's view of an ongoing favourable landscape for demand for its services from schools and educational establishments across England and Wales for the foreseeable future.

Financial Results

Turnover for the year to 31 August 2025 increased by 8.2% compared with the previous year, reflecting continued confidence in the Company's services and sustained demand from schools and educational establishments. Gross profit margin percentage decreased by 1.89%. Operating Profit for the year was £688,577 (2024: £1,314,861). Whilst profitability reduced compared with the prior year, this was principally attributable to planned strategic investment by the Company, including increased wages and salaries to support future growth, the opening of additional offices, and enhanced marketing and advertising expenditure. The Board considers these investments important in strengthening the Company's long-term market position and supporting future scalable growth opportunities.

Principal Risks and Uncertainties

One of the key business risks and uncertainties affecting the Company is considered to be the potential lack of supply of staff to fill vacant positions at the time when a vacancy arises. However, the Board of Directors is satisfied that the business has taken steps to mitigate the risk of national education staff shortages and has improved performance in this area through the use of innovative technology and recruitment processes designed to attract and recruit candidates seeking work within educational establishments.

Furthermore, the Company operates under strict guidelines with regard to the staff it can supply and the vetting and recruitment checks required prior to temporary workers being supplied to educational establishments. The Department for Education regularly assesses these requirements and the Director has implemented controls to monitor closely any required changes to the Company's processes and procedures, as well as maintaining approval on the DfE approved list of accredited and audited supply agencies.

Strategic Priorities

The Board and management of Aspire People Limited remain committed to delivering sustainable

long-term growth through continued investment in people, infrastructure and market expansion. During the year, the Company successfully secured a place on the new Department for Education approved GCA (formerly CCS) Education Supply Teachers Framework, having been selected as one of approximately 200 agencies from a pool of nearly 1,000 operating within the sector. The Directors view this as a significant achievement which reinforces the Company's reputation for quality, compliance and service delivery and provides a strong platform for future growth across existing and new regions.

Future Developments

The Company has established strong relationships with its customers, which continue to contribute to repeat and new business opportunities. The Board remains clear on the priorities required for the continued development of the business in both the medium and long term and believes it has the capability and infrastructure required to deliver future growth.

The opening of the London and Cardiff offices and continued investment in recruitment capability and marketing are expected to further support the Company's expansion strategy in the medium and long term. The Directors continue to see positive market conditions across the education recruitment sector, particularly within specialist and SEND education provision, where growing pupil demand, ongoing teacher shortages and increased government investment are driving sustained requirements for qualified teaching and support staff.

Historic levels of education supply spend across the UK education sector have continued to rise in recent years as schools and local authorities respond to recruitment challenges and increasing SEND requirements. The Department for Education has confirmed that core school funding will increase to £63.9 billion in 2025, representing an increase of £2.3 billion from 2024, alongside further increases in High Needs and SEND funding nationally. The Directors believe these market conditions, together with the Government's ongoing commitment to education and specialist provision, position the Company favourably to support increasing customer demand and deliver further sustainable growth across the UK.

Key Performance Indicators

The Director considers a range of key performance indicators on a weekly, monthly, and annual basis. Included in a longer list are the key measures outlined below:

1. Turnover Growth - To monitor market performance and ensure the business continues to grow market share in comparison to the overall market.

2. Monthly Management Accounts - To compare budgeted expectations against actual results and monitor the effectiveness of operational planning.

3. Profit Before Tax - To monitor the efficiency of the business to control costs and generate profit from ordinary activities.

4. Average Debtor Days - To ensure the business maintains strong cash flow and effective debtor management.

5. Margins and Days Out per Consultant - To ensure each consultant or desk is maximising its full potential.

6. Candidate File Turnover - The time taken between first contact and fully vetting a candidate to work on a temporary basis in schools.

7. Candidate Utilisation - Driving placement of candidates for the maximum amount of time they are available in a given week.

8. Desk Service Performance - To ensure each desk is achieving the required volume and margin percentage to maintain sustainability and deliver value to clients, candidates and consultants.

This report was approved by the board of directors on 28 August 2026 and signed on behalf of the board by:

Mr D Dawkins
Director

Registered office:

2-3 Emmanuel Court

Reddicroft

Sutton Coldfield

West Midlands

B73 6BN

Aspire People Limited

Director's Report

Year ended 31 August 2025

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

Principal activities

The principal activity of the company during the year was that of temporary employment agency activities.

Director

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

Mr D Dawkins

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Employment of disabled persons

The company operates a fair policy in accordance with the current legislation with regard to disabled employees. Where disabled employees are employed, they are trained taking into account their disability.

Employee involvement

Employees are kept informed and involved of all relevant information which may be of concern to them.

Disclosure of information in the strategic report

Items required to be disclosed in the Director's Report under schedule 7 of the Companies Act 2006 are set out in the Strategic Report in accordance with S414C(11) Companies Act 2006.

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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The auditors, bk plus Audit Limited, will be proposed for reappointment in accordance with Section 486 of the Companies Act 2006.

This report was approved by the board of directors on 28 August 2026 and signed on behalf of the board by:

Mr D Dawkins
Director

Registered office:

2-3 Emmanuel Court

Reddicroft

Sutton Coldfield

West Midlands

B73 6BN

Aspire People Limited

Independent Auditor's Report to the Members of Aspire People Limited

Year ended 31 August 2025

Opinion

We have audited the financial statements of Aspire People Limited (the 'company') for the year ended 31 August 2025 which comprise the statement of comprehensive income, statement of financial position, 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 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 for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the company's legal and regulatory framework and the industry in which it operates. We considered the risk of acts by the company that might have contravened applicable laws and regulations, including fraud. Our audit procedures were designed to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by way of forgery, intentional representations or through collusion. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and third party company representatives. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations if from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Hession C.A.

(Senior Statutory Auditor)

For and on behalf of

bk plus Audit Limited

Accountants and Business Advisers & statutory auditor

Azzurri House

Walsall Business Park

Aldridge

Walsall

West Midlands

WS9 0RB

28 August 2026

Aspire People Limited

Statement of Comprehensive Income

Year ended 31 August 2025

		2025	2024
Note		£	£
Turnover	4	31,412,862	29,031,501

Cost of sales	22,855,164	20,586,197
	-------------	-------------
Gross profit	8,557,698	8,445,304

Administrative expenses		7,869,121	7,130,443
		------------	------------
Operating profit	5	688,577	1,314,861

Other interest receivable and similar income	9	–	12,595
Interest payable and similar expenses	10	63,687	72,756
		------------	------------
Profit before taxation		624,890	1,254,700

Tax on profit	11	189,385	367,537
		---------	------------
Profit for the financial year and total comprehensive income		435,505	887,163
		---------	------------

All the activities of the company are from continuing operations.

Aspire People Limited

Statement of Financial Position

31 August 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	13	14,440	22,720
Tangible assets	14	382,242	409,065
		---------	---------
		396,682	431,785

Current assets

Debtors	15	4,997,331	4,401,897
Cash at bank and in hand		15,292	4,141
		------------	------------
		5,012,623	4,406,038

Creditors: amounts falling due within one year	17	4,188,009	2,964,147
		------------	------------
Net current assets		824,614	1,441,891
		------------	------------
Total assets less current liabilities		1,221,296	1,873,676

Creditors: amounts falling due after more than one year	18	50,000	250,000

Provisions	19	9,743	44,600
		------------	------------
Net assets		1,161,553	1,579,076
		------------	------------

Capital and reserves

Called up share capital	23	162	217
Capital redemption reserve	24	838	783
Profit and loss account	24	1,160,553	1,578,076
		------------	------------
Shareholders funds		1,161,553	1,579,076
		------------	------------

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 28 August 2026 , and are signed on behalf of the board by:

Mr D Dawkins
Director

Company registration number: 05276396

Aspire People Limited

Statement of Changes in Equity

Year ended 31 August 2025

		Called up share capital	Capital redemption reserve	Profit and loss account	Total
		£	£	£	£
At 1 September 2023		271	729	1,510,941	1,511,941

Profit for the year				887,163	887,163
		----	----	------------	------------
Total comprehensive income for the year		–	–	887,163	887,163

Dividends paid and payable	12	–	–	( 206,560)	( 206,560)
Cancellation of subscribed capital		( 54)	54	–	–
Redemption of shares		–	–	( 613,468)	( 613,468)
		----	----	------------	------------
Total investments by and distributions to owners		( 54)	54	( 820,028)	( 820,028)

At 31 August 2024		217	783	1,578,076	1,579,076

Profit for the year				435,505	435,505
		----	----	------------	------------
Total comprehensive income for the year		–	–	435,505	435,505

Dividends paid and payable	12	–	–	( 353,758)	( 353,758)
Cancellation of subscribed capital		( 55)	55	–	–
Redemption of shares		–	–	( 499,270)	( 499,270)
		----	----	---------	---------
Total investments by and distributions to owners		( 55)	55	( 853,028)	( 853,028)

		----	----	------------	------------
At 31 August 2025		162	838	1,160,553	1,161,553
		----	----	------------	------------

Aspire People Limited

Statement of Cash Flows

Year ended 31 August 2025

		2025	2024
Note		£	£
Cash generated from operations	25	924,572	443,477

Interest paid	( 63,687)	( 72,756)
Interest received	–	12,595
Tax paid	( 15,863)	( 418,757)
	---------	---------
Net cash from/(used in) operating activities	845,022	( 35,441)
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 16,167)	( 107,176)
	---------	---------
Net cash used in investing activities	( 16,167)	( 107,176)
	---------	---------

Cash flows from financing activities

Repayment of financial commitment	( 499,270)	( 613,468)
Proceeds from borrowings	47,567	( 220,798)
Dividends paid	( 353,758)	( 206,560)
	---------	------------
Net cash used in financing activities	( 805,461)	( 1,040,826)
	---------	------------

Net increase/(decrease) in cash and cash equivalents		23,394	( 1,183,443)
Cash and cash equivalents at beginning of year		(8,102)	1,175,341
		--------	------------
Cash and cash equivalents at end of year	16	15,292	( 8,102)
		--------	------------

Aspire People Limited

Notes to the Financial Statements

Year ended 31 August 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 2-3 Emmanuel Court, Reddicroft, Sutton Coldfield, West Midlands, B73 6BN.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the company’s financial position, its expected future trading performance and cash flow requirements for a period of at least twelve months from the date of approval of these financial statements. Based on this assessment, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that cast significant doubt on the company’s ability to continue as a going concern. Accordingly, the directors consider it appropriate to continue to adopt the going concern basis in preparing the financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Director to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of turnover and expenses during the reported period. Actual results in the future could differ from those estimates. In this regard, the Director believes that the critical accounting policy where judgements or estimates are necessarily applied are summarised below: Depreciation and residual values: The Director has reviewed the asset lives and associated residual values of all fixed asset calculations and has concluded that asset lives and residual values are appropriate.

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. Revenue from services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Software	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

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

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	31,412,862	29,031,501
	-------------	-------------

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:

	2025	2024
	£	£
Amortisation of intangible assets	8,280	8,280
Depreciation of tangible assets	41,210	32,895
Loss on disposal of tangible assets	1,780	–
	--------	--------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	10,000	3,900
	--------	-------

7. 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	1,102	415
Administrative staff	110	95
Management staff	1	1
	-------	----
	1,213	511
	-------	----

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

	2025	2024
	£	£
Wages and salaries	13,178,367	11,223,378
Social security costs	767,828	950,568
Other pension costs	91,542	144,161
	-------------	-------------
	14,037,737	12,318,107
	-------------	-------------

8. Director's remuneration

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

	2025	2024
	£	£
Remuneration	67,543	72,503
Company contributions to defined contribution pension plans	1,321	1,321
	--------	--------
	68,864	73,824
	--------	--------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	–	12,595
	----	--------

10. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	29,968	51,744
Other interest payable and similar charges	33,719	21,012
	--------	--------
	63,687	72,756
	--------	--------

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	224,242	359,507

Deferred tax:

Origination and reversal of timing differences	( 34,857)	8,030
	---------	---------
Tax on profit	189,385	367,537
	---------	---------

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	624,890	1,254,700
	---------	------------
Profit on ordinary activities by rate of tax	166,275	313,675
Effect of expenses not deductible for tax purposes	62,993	53,862
Effect of capital allowances and depreciation	( 5,026)	( 8,030)
Other tax adjustment to increase/(decrease) tax liability - Deferred Tax	( 34,857)	8,030
	---------	------------
Tax on profit	189,385	367,537
	---------	------------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	353,758	206,560
	---------	---------

13. Intangible assets

	Software
	£
Cost
At 1 September 2024 and 31 August 2025	41,400
	--------
Amortisation
At 1 September 2024	18,680
Charge for the year	8,280
	--------
At 31 August 2025	26,960
	--------
Carrying amount
At 31 August 2025	14,440
	--------
At 31 August 2024	22,720
	--------

14. Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 September 2024	257,628	32,730	91,665	241,679	623,702
Additions	–	–	11,790	4,377	16,167
Disposals	–	–	( 4,500)	–	( 4,500)
	---------	--------	--------	---------	---------
At 31 August 2025	257,628	32,730	98,955	246,056	635,369
	---------	--------	--------	---------	---------
Depreciation
At 1 September 2024	–	32,084	25,926	156,627	214,637
Charge for the year	–	161	18,692	22,357	41,210
Disposals	–	–	( 2,720)	–	( 2,720)
	---------	--------	--------	---------	---------
At 31 August 2025	–	32,245	41,898	178,984	253,127
	---------	--------	--------	---------	---------
Carrying amount
At 31 August 2025	257,628	485	57,057	67,072	382,242
	---------	--------	--------	---------	---------
At 31 August 2024	257,628	646	65,739	85,052	409,065
	---------	--------	--------	---------	---------

15. Debtors

	2025	2024
	£	£
Trade debtors	1,985,386	2,359,227
Amounts owed by group undertakings	–	1,153,662
Prepayments and accrued income	2,608,141	688,195
Director's loan account	252,000	–
Other debtors	151,804	200,813
	------------	------------
	4,997,331	4,401,897
	------------	------------

16. Cash and cash equivalents

Cash and cash equivalents comprise the following:

	2025	2024
	£	£
Cash at bank and in hand	15,292	4,141
Bank overdrafts	–	( 12,243)
	--------	--------
	15,292	( 8,102)
	--------	--------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Debenture loans	1,646,228	1,398,661
Bank loans and overdrafts	200,000	212,243
Payments received on account	–	22,992
Trade creditors	( 552,863)	160,955
Accruals and deferred income	508,671	206,209
Corporation tax	567,886	359,507
Social security and other taxes	1,708,572	464,428
Other creditors	109,515	139,152
	------------	------------
	4,188,009	2,964,147
	------------	------------

Creditors: amounts falling due within one year includes a balance of £1,646,228 due to an invoice finance company (2024 £1,398,661). This is subject to a fixed and floating charge over the assets of the company. The charge will be in place until the cessation of the invoice finance agreement.

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

	2025	2024
	£	£
Bank loans and overdrafts	50,000	250,000
	--------	---------

19. Provisions

	Deferred tax (note 20)
	£
At 1 September 2024	44,600
Additions	( 34,857)
	--------
At 31 August 2025	9,743
	--------

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 19)	9,743	44,600
	-------	--------

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

	2025	2024
	£	£
Accelerated capital allowances	9,743	44,600
	-------	--------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 90,221 (2024: £ 142,840 ).

22. Financial instruments

Basic Financial Assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Classification of Financial Liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic Financial Liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate.

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A Ordinary Shares shares of £ 0.05 each	556	28	556	28
B Ordinary Shares shares of £ 0.05 each	500	25	500	25
C Ordinary Shares shares of £ 0.05 each	2,186	109	3,278	164
D Ordinary Shares shares of £ 0.05 each	1	–	1	–
E Ordinary Shares shares of £ 0.05 each	1	–	1	–
	-------	----	-------	----
	3,244	162	4,336	217
	-------	----	-------	----

24. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.

25. Cash generated from operations

	2025	2024
	£	£
Profit for the financial year	435,505	887,163

Adjustments for:
Depreciation of tangible assets	41,210	32,895
Amortisation of intangible assets	8,280	8,280
Other interest receivable and similar income	–	( 12,595)
Interest payable and similar expenses	63,687	72,756
Loss on disposal of tangible assets	1,780	–
Tax on profit	189,385	367,537
Accrued expenses/(income)	302,462	( 29,440)

Changes in:
Trade and other debtors	( 595,434)	( 985,037)
Trade and other creditors	477,697	101,918
	---------	---------
	924,572	443,477
	---------	---------

26. Analysis of changes in net debt

	At 1 Sep 2024	Cash flows	At 31 Aug 2025
	£	£	£
Cash at bank and in hand	4,141	11,151	15,292
Bank overdrafts	(12,243)	12,243	–
Debt due within one year	(1,598,661)	(247,567)	(1,846,228)
Debt due after one year	(250,000)	200,000	(50,000)
	------------	---------	------------
	( 1,856,763)	( 24,173)	( 1,880,936)
	------------	---------	------------

27. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	120,192	140,579
Later than 1 year and not later than 5 years	281,455	309,118
Later than 5 years	–	185,471
	---------	---------
	401,647	635,168
	---------	---------

28. Other financial commitments

The company has a financial commitment to buy back company shares from existing shareholders as follows: Not later than 1 year (2025) £499,470 (2024) £499,470 Later than 1 year and not later than 5 years (2025) £497,699 (2024) £997,169

Aspire People Limited

Notes to the Financial Statements (continued)

Year ended 31 August 2025

29. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D Dawkins	–	252,000	252,000
	----	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D Dawkins	–	–	–
	----	----	----

30. Related party transactions

Included in Debtors at 31 August 2024 Aspire People Limited were owed £1,153,662 from M & M Powell Lettings Limited. In 2025, this balance was £0. Key management personnel for the company consists of the director: D Dawkins.