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Registered number: 06586828
STAFFCO DIRECT LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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STAFFCO DIRECT LTD
REGISTERED NUMBER: 06586828
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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STAFFCO DIRECT LTD
REGISTERED NUMBER: 06586828
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2026.
The notes on pages 3 to 10 form part of these financial statements.
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
StaffCo Direct Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is StaffCo House, 5 Copperhouse Court, Caldecotte, Milton Keynes, England, MK7 8NL.
The company specialises in the provision of recruitment consultancy services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis, despite the company reporting net current liabilities of £309,751 (2024 - £186,858 net current assets). The shareholders have provided an undertaking that they will continue to support the company for the foreseeable future to enable the company's liabilities to be met as they fall due and specifically for a period of not less than twelve months from the date of signing these financial statements. On this basis, the director believes that the preparation of the accounts on a going concern basis is appropriate.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Turnover arising from the placement of permanent candidates is recognised at the time the candidate is expected to commence full-time employment.
Turnover arising from temporary placements is recognised over the period that temporary workers are provided and represents the amounts billed for the services of the temporary workers, including the remuneration costs of the temporary workers.
Turnover recognised from temporary contract assignments and permanent, but not yet invoiced, at the reporting date, is correspondingly accrued on the Statement of financial position within "accrued income" as part of "trade and other receivables". No provision is made for the cancellation of placements prior to or shortly after the commencement of employment.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The average monthly number of employees, including directors, during the year was 18 (2024 - 17).
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The invoice finance facility is secured by the way of a legal and a fixed and floating charge over the assets of the company.
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Allotted, called up and fully paid
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312 Ordinary A shares of £1 each
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68 Ordinary B shares of £1 each
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20 Ordinary C shares of £1 each
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The Ordinary A shares, Ordinary B shares and Ordinary C shares are separate classes of share for the purpose of declaration of dividends. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in respect of any other class of shares. The shares rank pari passu in all other respects, except that, on a winding up, the Ordinary A shares shall be entitled to an amount equal to the priority payment on each share prior to any such payment being made in respect of the other shares.
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There is an unlimited cross guarantee originally dated 7 May 2020 between the group members in respect of their borrowings. The amount outstanding under such guarantee at the year end is £2,424,272 (2024 - £1,774,392).
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company makes contributions to defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £7,108 (2024 - £7,382). Contributions totalling £25,308 (2024 - £25,313) were payable to the fund at the reporting date and are included in creditors.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Transactions with directors
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Included in other debtors due within one year are amounts owed by directors totalling £232 (2024 - £232).
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Related party transactions
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During the year the company transacted with Infinity Payroll Solutions Limited, a company with common directors during the year. The amount paid for services in the year was £1,991,686 (2024 - £3,347,968). The net amount owed to Infinity Payroll Solutions Limited at the reporting date was £18,872 (2024 - £149,589).
During the year, the company incurred management charges of £270,000 (2024 - £336,501) from Redmann Holdings Ltd, the parent company. The amount paid for services in the year was £80,034 (2024 - £74,910). At the year end, an amount of £158,090 (2024 - £47,746) was owed by the parent company.
During the year the company transacted with 2B&C Logistics Ltd, a company with common directors. The amount received for services in the year was £94,879 (2024 - £559,868). The net amount owed by 2B&C Logistics Ltd at the reporting date was £200,864 (2024 - £228,961).
At the year end, £8,378 (2024 - £6,878) was owed by shareholders of the company.
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STAFFCO DIRECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Ultimate parent undertaking and controlling party
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The immediate and ultimate parent undertaking is Redmann Holdings Ltd, a company incorporated in England and Wales, with registered office StaffCo House, 5 Copperhouse Court, Caldecotte, Milton Keynes, MK7 8NL.
The ultimate controlling party is I Murray by virtue of his majority shareholding in the ultimate parent undertaking.
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