REGISTERED NUMBER: 03611213 (England and Wales)

Financial Statements for the Year Ended 28 February 2025

for

Personnel Recruitment Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C Horsfall

Mrs M Horsfall

REGISTERED OFFICE:

43 Church Lane

Pudsey

Leeds

West Yorkshire

LS28 7RR

REGISTERED NUMBER:

03611213 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

275

369

275

369

CURRENT ASSETS

Debtors

6

232,297

401,160

Cash at bank

2,763

49,475

235,060

450,635

CREDITORS

Amounts falling due within one year

7

196,086

247,506

NET CURRENT ASSETS

38,974

203,129

TOTAL ASSETS LESS CURRENT LIABILITIES

39,249

203,498

CREDITORS

Amounts falling due after more than one year

8

(24,583

)

(30,046

)

PROVISIONS FOR LIABILITIES

(69

)

(92

)

NET ASSETS

14,597

173,360

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,497

173,260

SHAREHOLDERS' FUNDS

14,597

173,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

D C Horsfall - Director

1.	STATUTORY INFORMATION

Personnel Recruitment Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services excluding value added tax. Revenue is recognised when the company obtains the right to receive consideration for services provided.

Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2008, is being amortised over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit & loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 103 (2024 - 186 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

40,000

AMORTISATION

At 1 March 2024

and 28 February 2025

40,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

6,721

2,352

9,073

DEPRECIATION

At 1 March 2024

6,390

2,314

8,704

Charge for year

84

10

94

At 28 February 2025

6,474

2,324

8,798

NET BOOK VALUE

At 28 February 2025

247

28

275

At 29 February 2024

331

38

369

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

91,883

168,407

Amounts owed by group undertakings

139,317

217,360

Other debtors

1,097

15,393

232,297

401,160

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

5,463

5,463

Trade creditors

11,781

15,972

Taxation and social security

49,896

58,425

Other creditors

128,946

167,646

196,086

247,506

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans

24,583

30,046

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,731

8,194

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Invoice discounting

59,491

57,529

The invoice discounter holds an all assets debenture. The floating charge covers all the property or undertaking of the company. The charge also contains a negative pledge.