Company No: 03693098 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Ms. A. Bortan
	Ms. C. Delaney

REGISTERED OFFICE	Century House
	Wargrave Road
	Henley-On-Thames
	Oxfordshire
	RG9 2LT
	United Kingdom

COMPANY NUMBER

03693098 (England and Wales)

ACCOUNTANT	Verallo
	Century House
	Wargrave Road
	Henley-on-Thames
	Oxfordshire
	United Kingdom
	RG9 2LT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3, 4	155,955		26,660
		155,955		26,660
Current assets
Debtors	5	1,236,089		1,220,492
Cash at bank and in hand		29,990		276,357
		1,266,079		1,496,849
Creditors: amounts falling due within one year	6	( 978,147)		( 1,200,540)
Net current assets		287,932		296,309
Total assets less current liabilities		443,887		322,969
Creditors: amounts falling due after more than one year	7	( 133,817)		0
Provision for liabilities		( 471)		( 1,891)
Net assets		309,599		321,078
Capital and reserves
Called-up share capital	9	427,000		427,000
Profit and loss account		( 117,401 )		( 105,922 )
Total shareholder's funds		309,599		321,078

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Team Resourcing Limited (registered number: 03693098) were approved and authorised for issue by the Board of Directors on 07 August 2026. They were signed on its behalf by:

Ms. C. Delaney Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Team Resourcing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Wargrave Road, Henley-On-Thames, Oxfordshire, RG9 2LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed all available information for the foreseeable future, being a period of at least twelve months from the date of approval. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable for services provided in the normal course of business excluding value added tax.

Permanent placement turnover is recognised at the point when the candidate commences their employment.

Contract employment turnover is recognised on the basis of actual work performed in the relevant year based on timesheets submitted.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	1 - 3 years straight line
Plant and machinery	1 - 3 years straight line
Office equipment	1 - 3 years straight line
Computer equipment	1 - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases and right of use assets

At the inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The lease liability is initially measured at the present value of future lease payments due over the lease term, discounted at the rate implicit in the lease or, if not readily determinable, the Company's incremental borrowing rate. Lease payments include fixed payments, variable lease payments that depend on an index or a tax and amounts reasonably expected to be payable over the life of the lease.

The right of use asset is initially measured at the initial amount of the lease liability and is adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle or restore the underlying asset, less any lease incentives received.

The lease liability is subsequently measured at amortised cost using the effective interest method, with an interest expense recognised in the profit or loss.

After initial recognition, the right of use asset is depreciated on a straight line basis over the shorter of the asset's useful life or the lease term. The right of use assets are subject to impairment reviews in accordance with the Company's policy on the impairment of non financial assets.

It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if the Company changes its assessment of whether it will exercise a purchase, extension, or termination option. When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right of use asset. In any case an equivalent adjustment is made to the carrying value of the right of use asset, with the revised carrying amount being amortised over the remaining (revised) lease term. If the carrying amount of the right of use asset is adjusted to zero, any further reduction is recognised in the profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the Company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

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 method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		12

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	32,424		525		19,686		63,589		116,224
Additions	0		166		402		0		568
At 31 December 2025	32,424		691		20,088		63,589		116,792
Accumulated depreciation
At 01 January 2025	32,424		525		18,380		57,332		108,661
Charge for the financial year	0		28		1,304		4,321		5,653
At 31 December 2025	32,424		553		19,684		61,653		114,314
Net book value
At 31 December 2025	0		138		404		1,936		2,478
At 31 December 2024	0		0		1,306		6,257		7,563

4. Right of use assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2025	187,757		187,757
Additions	159,453		159,453
Disposals	(187,757)		(187,757)
At 31 December 2025	159,453		159,453
Accumulated depreciation
At 01 January 2025	168,660		168,660
Charge for the financial year	21,667		21,667
Disposals	(184,351)		(184,351)
At 31 December 2025	5,976		5,976
Net book value
At 31 December 2025	153,477		153,477
At 31 December 2024	19,097		19,097

The right-of-use assets are included in the Tangible fixed assets on the balance sheet.

5. Debtors

	2025		2024
	£		£
Trade debtors	873,647		820,086
Amounts owed by Group undertakings	326,232		340,192
Other debtors	36,210		60,214
	1,236,089		1,220,492

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	12,347		5,236
Taxation and social security	233,450		205,662
Lease liabilities (note 8)	13,136		16,597
Other creditors	719,214		973,045
	978,147		1,200,540

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

	2025		2024
	£		£
Lease liabilities (note 8)	133,817		0

The aggregate amount of creditors for which security has been given by the company amounted to £133,817 (2024 - £nil).

8. Lease liabilities

	2025		2024
	£		£
Lease liabilities due within 1 year	13,136		16,597
Lease liabilities due after 1 year	133,817		0
	146,953		16,597

The lease liabilities are included in the creditors due within 1 year and creditors due after 1 year on the balance sheet.

Nature of leasing activity

The obtainable borrowing rate was used to calculate the lease liabilities. Lease payments represent discounted rentals payable by the company. All lease liabilities include lease interest recognised in the profit and loss. The amount of lease interest recognised in the year is £5,484 (2024: £1,258).

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
412,767 Ordinary A shares of £ 1.00 each	412,767		412,767
14,233 Ordinary B shares of £ 1.00 each	14,233		14,233
	427,000		427,000

10. Ultimate controlling party

The immediate parent company is Team Resourcing (Holdings) Ltd, and it's registered office is Century House, Wargrave Road, Henley-On-Thames, Oxfordshire, United Kingdom, RG9 2LT. The ultimate parent company is CKM3 Holdings Ltd.