Proactive Personnel Limited - Limited company accounts 18.2

Proactive Personnel Limited - Limited company accounts 18.2

PROACTIVE PERSONNEL LIMITED - Company Information

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IRIS Accounts Production v19.1.1.57 03807344 Board of Directors 31.12.18 1.1.18 31.12.18 31.12.18 recruitment and employment agency. true true false true true false false false false false true false Ordinary 0 Ordinary Class C shares 0 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REGISTERED NUMBER: 03807344 (England and Wales)

















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2018

for

Proactive Personnel Limited
Caerwyn Jones
Chartered Accountants and Statutory Auditor
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG








Proactive Personnel Limited (Registered number: 03807344)






Contents of the Consolidated Financial Statements
for the year ended 31 December 2018




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Statement of Financial Position 10

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Statement of Cash Flows 16

Notes to the Consolidated Statement of Cash Flows 17

Notes to the Consolidated Financial Statements 18


Proactive Personnel Limited

Company Information
for the year ended 31 December 2018







DIRECTORS: J M Glews
P A Knight
Mrs L Glews
D Gordon


SECRETARY: R M Thomas


REGISTERED OFFICE: Unit 8 Limes Walk
Oakengates
Telford
Shropshire
TF2 6EP


REGISTERED NUMBER: 03807344 (England and Wales)


AUDITORS: Caerwyn Jones
Chartered Accountants and Statutory Auditor
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG


BANKERS: HSBC Bank Plc
PO Box
130 New Street
Birmingham
B2 4JU
Page 1
Proactive Personnel Limited (Registered number: 03807344)

Group Strategic Report
for the year ended 31 December 2018

The directors present their strategic report of the company and the group for the year ended 31 December 2018.


The principal activity of the group during the year was that of a recruitment and employment agency.

The statement of comprehensive income is set out on page 8 of the accounts and shows turnover for the year of
£36,015,517 and a gross profit of £7,374,437, with the gross margin reducing by 0.6% to 20.5% from 21.1%.
The year ended 31 December 2019 is expected to show continued profitability and growth.

There are no effects since the balance sheet date which materially effect the position of the group.

ON BEHALF OF THE BOARD:





J M Glews - Director


6 September 2019

Page 2
Proactive Personnel Limited (Registered number: 03807344)

Report of the Directors
for the year ended 31 December 2018

The directors present their report with the financial statements of the company and the group for the year ended
31 December 2018.

DIVIDENDS
Interim dividends per share on the Ordinary £1 shares were paid as follows:
165000 - 31 January 2018
260000 - 6 April 2018
150000 - 30 August 2018
575000

The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary Class C shares £1 shares. The directors recommend that no final
dividend be paid on these shares.

The total distribution of dividends for the year ended 31 December 2018 will be £ 575,000 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2018 to the date of
this report.

J M Glews
P A Knight
P S Lowrey
D R Watson
Mrs L Glews
R Wheeler
D Gordon
S C Mackintosh

Other changes in directors holding office are as follows:

D R Watson , P S Lowrey , S C Mackintosh and R Wheeler ceased to be directors after 31 December 2018 but prior
to the date of this report.

EMPLOYMENT OF DISABLED PERSONS
The company is committed to providing equal opportunities to all employees, irrespective of disability.

EMPLOYEE INVOLVEMENT
The company consults with employees on matters that are of concern to them on a regular basis. The company
has continued the policy regarding the employment of disabled persons. Full and fair consideration is given to
applications for employment made by disabled persons having regard to their particular aptitudes and abilities.
Appropriate training is arranged for disabled persons, including retraining for alternative work of employees who
become disabled, to promote their career development within the organisation.

Page 3
Proactive Personnel Limited (Registered number: 03807344)

Report of the Directors
for the year ended 31 December 2018


DISCLOSURE IN THE STRATEGIC REPORT
The strategic report of the company is set out on page 2 of the financial statements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the
financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the
directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In
preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's and the group's transactions and disclose with reasonable accuracy at any time the financial position
of the company and the group and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the
Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he
or she ought to have taken as a director in order to make himself or herself aware of any relevant audit
information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J M Glews - Director


6 September 2019

Page 4
Report of the Independent Auditors to the Members of
Proactive Personnel Limited

Opinion
We have audited the financial statements of Proactive Personnel Limited (the 'parent company') and its
subsidiaries (the 'group') for the year ended 31 December 2018 which comprise the Consolidated Statement of
Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position,
Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement
of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements,
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 Financial Reporting
Standard 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 group's and of the parent company affairs as at 31 December 2018
and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-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 Auditors' responsibilities for the audit
of the financial statements section of our report. We are independent of the group 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to
report to you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a
period of at least twelve months from the date when the financial statements are authorised for issue.

Other information
The directors are responsible for the other information. The other information comprises the information in the
Group Strategic Report and the Report of the Directors, but does not include the financial statements and our
Report of the Auditors thereon.

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.

Page 5
Report of the Independent Auditors to the Members of
Proactive Personnel Limited


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 Group Strategic Report and the Report of the Directors for the financial year for
which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report
or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit
have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are
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 directors determine 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 directors are responsible for assessing the group's and the parent
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 directors either intend to liquidate the group or the parent
company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

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.

Page 6
Report of the Independent Auditors to the Members of
Proactive Personnel Limited


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 a Report of the Auditors 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.




D C Blofield (Senior Statutory Auditor)
for and on behalf of Caerwyn Jones
Chartered Accountants and Statutory Auditor
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

6 September 2019

Page 7
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Comprehensive Income
for the year ended 31 December 2018

2018 2017
Notes £    £   

REVENUE 3 36,015,517 32,448,479

Cost of sales 28,641,080 25,610,139
GROSS PROFIT 7,374,437 6,838,340

Administrative expenses 6,873,705 6,215,281
500,732 623,059

Other operating income 4 9,354 6,121
OPERATING PROFIT 6 510,086 629,180


Interest payable and similar expenses 8 85,580 61,695
PROFIT BEFORE TAXATION 424,506 567,485

Tax on profit 9 115,457 136,810
PROFIT FOR THE FINANCIAL YEAR 309,049 430,675

OTHER COMPREHENSIVE INCOME
Revaluation reserve (4,135 ) -
Income tax relating to other
comprehensive income
-
-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX
(4,135
)
-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR
304,914
430,675

Profit attributable to:
Owners of the parent 306,140 447,104
Non-controlling interests 2,909 (16,429 )
309,049 430,675

Total comprehensive income attributable to:
Owners of the parent 302,005 447,074

The notes form part of these financial statements

Page 8
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Comprehensive Income
for the year ended 31 December 2018

2018 2017
£    £   
Non-controlling interests 2,909 (16,399 )
304,914 430,675

The notes form part of these financial statements

Page 9
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Financial Position
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 72,927 60,844
Property, plant and equipment 13 472,763 493,558
Investments 14 30 -
545,720 554,402

CURRENT ASSETS
Inventories 15 - 33,445
Debtors 16 6,535,386 6,771,969
Cash at bank and in hand 43,371 54,403
6,578,757 6,859,817
CREDITORS
Amounts falling due within one year 17 6,357,531 6,382,605
NET CURRENT ASSETS 221,226 477,212
TOTAL ASSETS LESS CURRENT LIABILITIES 766,946 1,031,614

CREDITORS
Amounts falling due after more than one
year
18
(201,838
)
(201,838
)

PROVISIONS FOR LIABILITIES 21 (47,393 ) (41,975 )
NET ASSETS 517,715 787,801

CAPITAL AND RESERVES
Called up share capital 22 127 127
Share premium 23 101,151 101,151
Revaluation reserve 23 - 4,135
Retained earnings 23 561,018 829,878
SHAREHOLDERS' FUNDS 662,296 935,291

NON-CONTROLLING INTERESTS 24 (144,581 ) (147,490 )
TOTAL EQUITY 517,715 787,801

The notes form part of these financial statements

Page 10 continued...
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Financial Position - continued
31 December 2018


The financial statements were approved by the Board of Directors on 6 September 2019 and were signed on its
behalf by:





J M Glews - Director


The notes form part of these financial statements

Page 11
Proactive Personnel Limited (Registered number: 03807344)

Company Statement of Financial Position
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 72,927 60,844
Property, plant and equipment 13 414,897 429,016
Investments 14 173 143
487,997 490,003

CURRENT ASSETS
Debtors 16 5,544,046 5,849,295
Cash at bank and in hand 20,326 35,061
5,564,372 5,884,356
CREDITORS
Amounts falling due within one year 17 4,882,679 4,820,333
NET CURRENT ASSETS 681,693 1,064,023
TOTAL ASSETS LESS CURRENT LIABILITIES 1,169,690 1,554,026

CREDITORS
Amounts falling due after more than one
year
18
(201,838
)
(201,838
)

PROVISIONS FOR LIABILITIES 21 (38,479 ) (32,127 )
NET ASSETS 929,373 1,320,061

The notes form part of these financial statements

Page 12 continued...
Proactive Personnel Limited (Registered number: 03807344)

Company Statement of Financial Position - continued
31 December 2018

2018 2017
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 22 127 127
Share premium 23 79,173 79,173
Revaluation reserve 23 - 4,135
Retained earnings 23 850,073 1,236,626
SHAREHOLDERS' FUNDS 929,373 1,320,061

Company's profit for the financial year 188,447 477,382


The financial statements were approved by the Board of Directors on 6 September 2019 and were signed on its
behalf by:





J M Glews - Director


The notes form part of these financial statements

Page 13
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Changes in Equity
for the year ended 31 December 2018

Called up
share Retained Share
capital earnings premium
£    £    £   

Balance at 1 January 2017 127 717,774 101,151

Changes in equity
Dividends - (335,000 ) -
Total comprehensive income - 447,104 -
Balance at 31 December 2017 127 829,878 101,151

Changes in equity
Dividends - (575,000 ) -
Total comprehensive income - 306,140 -
Balance at 31 December 2018 127 561,018 101,151
Revaluation Non-controlling Total
reserve Total interests equity
£    £    £    £   

Balance at 1 January 2017 4,135 823,187 (131,091 ) 692,096

Changes in equity
Dividends - (335,000 ) - (335,000 )
Total comprehensive income - 447,104 (16,399 ) 430,705
Balance at 31 December 2017 4,135 935,291 (147,490 ) 787,801

Changes in equity
Dividends - (575,000 ) - (575,000 )
Total comprehensive income (4,135 ) 302,005 2,909 304,914
Balance at 31 December 2018 - 662,296 (144,581 ) 517,715

The notes form part of these financial statements

Page 14
Proactive Personnel Limited (Registered number: 03807344)

Company Statement of Changes in Equity
for the year ended 31 December 2018

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   

Balance at 1 January 2017 127 1,094,244 79,173 4,135 1,177,679

Changes in equity
Dividends - (335,000 ) - - (335,000 )
Total comprehensive income - 477,382 - - 477,382
Balance at 31 December 2017 127 1,236,626 79,173 4,135 1,320,061

Changes in equity
Dividends - (575,000 ) - - (575,000 )
Total comprehensive income - 188,447 - (4,135 ) 184,312
Balance at 31 December 2018 127 850,073 79,173 - 929,373

The notes form part of these financial statements

Page 15
Proactive Personnel Limited (Registered number: 03807344)

Consolidated Statement of Cash Flows
for the year ended 31 December 2018

2018 2017
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 907,836 (40,947 )
Interest paid (85,580 ) (61,695 )
Tax paid (80,121 ) (240,979 )
Net cash from operating activities 742,135 (343,621 )

Cash flows from investing activities
Purchase of intangible fixed assets (23,510 ) (32,907 )
Purchase of tangible fixed assets (83,623 ) (86,779 )
Purchase of fixed asset investments (30 ) -
Transfer of tangible fixed assets - 33,445
Net cash from investing activities (107,163 ) (86,241 )

Cash flows from financing activities
Amount introduced by directors 170,396 209,902
Amount withdrawn by directors (4,878 ) (654,840 )
Share issue - 98
Equity dividends paid (575,000 ) (335,000 )
Net cash from financing activities (409,482 ) (779,840 )

Increase/(decrease) in cash and cash equivalents 225,490 (1,209,702 )
Cash and cash equivalents at beginning of
year
2
(4,125,265
)
(2,915,563
)

Cash and cash equivalents at end of year 2 (3,899,775 ) (4,125,265 )

The notes form part of these financial statements

Page 16
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 December 2018

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2018 2017
£    £   
Profit before taxation 424,506 567,485
Depreciation charges 58,011 63,243
Loss on disposal of fixed assets 2,835 227
Loss on revaluation of fixed assets 50,865 -
Finance costs 85,580 61,695
621,797 692,650
Decrease/(increase) in inventories 33,445 (33,445 )
Decrease/(increase) in trade and other debtors 93,676 (1,062,979 )
Increase in trade and other creditors 158,918 362,827
Cash generated from operations 907,836 (40,947 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in
respect of these Statement of Financial Position amounts:

Year ended 31 December 2018
31.12.18 1.1.18
£    £   
Cash and cash equivalents 43,371 54,403
Bank overdrafts (3,943,146 ) (4,179,668 )
(3,899,775 ) (4,125,265 )
Year ended 31 December 2017
31.12.17 1.1.17
£    £   
Cash and cash equivalents 54,403 74,254
Bank overdrafts (4,179,668 ) (2,989,817 )
(4,125,265 ) (2,915,563 )

The notes form part of these financial statements

Page 17
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements
for the year ended 31 December 2018

1. STATUTORY INFORMATION

Proactive Personnel 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such,
advantage has been taken of the following reduced disclosures available under FRS 102:

(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.

Basis of consolidation
The financial statements consolidate the financial statements of the Proactive Personnel Ltd and all of its
subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that
control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and
has not presented its individual statement of comprehensive income.

Page 18 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Turnover and other income
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 Value Added Tax.

Rendering of services :
Revenue from the rendering of services is measured by reference to the stage of completion of the service
at the end of the reporting period provided that the outcome can be reliably estimated. When the
outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised
are recoverable.

Interest receivable :
Interest income is recognised using the effective interest method.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at
cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 10% on cost and Straight line over the life of the lease
Fixtures and fittings - 10% on cost
Computer equipment - 10% on cost

Government grants
The group receives government grants in respect of the apprenticeship levy. These grants are recognised
at the fair value of the asset received or receivable when there is reasonable assurance that the group will
comply with conditions attaching to them and the grants will be received using the performance model.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement
of Comprehensive Income, 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 statement of financial position date.

Page 19 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into sterling at the
rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving
at the operating result.

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

3. REVENUE

The revenue and profit before taxation are attributable to the principal activities of the group.

An analysis of revenue by class of business is given below:

2018 2017
£    £   
Rendering of services 36,015,517 32,448,479
36,015,517 32,448,479

An analysis of revenue by geographical market is given below:

2018 2017
£    £   
United Kingdom 36,015,517 32,448,479
36,015,517 32,448,479

Page 20 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

4. OTHER OPERATING INCOME
2018 2017
£    £   
Government grants 9,354 6,121

5. EMPLOYEES AND DIRECTORS
2018 2017
£    £   
Wages and salaries 25,521,646 23,927,962
Social security costs 1,847,624 1,743,274
Other pension costs 200,633 90,756
27,569,903 25,761,992

The average number of employees during the year was as follows:
2018 2017

Administrative staff 138 133
Operational staff 1,299 1,231
1,437 1,364

Operational employees are retained under a contract for services and are used in the daily operation of
the company as a recruitment and employment agency.

2018 2017
£    £   
Directors' remuneration 938,057 915,952
Directors' pension contributions to money purchase schemes 32,867 8,466

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 8 7

Information regarding the highest paid director is as follows:
2018 2017
£    £   
Emoluments etc 145,611 136,092

Page 21 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

6. OPERATING PROFIT

The operating profit is stated after charging:

2018 2017
£    £   
Other operating leases 178,807 186,218
Depreciation - owned assets 50,003 60,445
Loss on disposal of fixed assets 2,835 227
Computer software amortisation 8,007 2,798
Foreign exchange differences 114 48

7. AUDITORS' REMUNERATION
2018 2017
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements
17,350
16,810

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2018 2017
£    £   
Bank loan interest 85,580 61,695

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2018 2017
£    £   
Current tax:
UK corporation tax 110,039 128,064

Deferred tax:
Deferred tax 5,418 10,407
Deferred tax - rate change - (1,661 )
Total deferred tax 5,418 8,746
Tax on profit 115,457 136,810

Page 22 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference
is explained below:

2018 2017
£    £   
Profit before tax 424,506 567,485
Profit multiplied by the standard rate of corporation tax in the UK of
19% (2017 - 19.249%)
80,656
109,235

Effects of:
Expenses not deductible for tax purposes 48,304 15,117
Income not taxable for tax purposes (16,216 ) -
Depreciation in excess of capital allowances 7,368 5,314
Utilisation of tax losses (4,655 ) (15,139 )
Unused tax losses - 24,499
Effects of change in tax rates - (2,216 )
Total tax charge 115,457 136,810

Tax effects relating to effects of other comprehensive income

2018
Gross Tax Net
£    £    £   
Revaluation reserve (4,135 ) - (4,135 )

10. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the
parent company is not presented as part of these financial statements.


11. DIVIDENDS
2018 2017
£    £   
Ordinary shares of £1 each
Interim 575,000 335,000

Page 23 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

12. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1 January 2018 66,987
Additions 23,510
At 31 December 2018 90,497
AMORTISATION
At 1 January 2018 6,143
Amortisation for year 8,007
Reclassification/transfer 3,420
At 31 December 2018 17,570
NET BOOK VALUE
At 31 December 2018 72,927
At 31 December 2017 60,844

Company
Computer
software
£   
COST
At 1 January 2018 66,987
Additions 23,510
At 31 December 2018 90,497
AMORTISATION
At 1 January 2018 6,143
Amortisation for year 8,007
Reclassification/transfer 3,420
At 31 December 2018 17,570
NET BOOK VALUE
At 31 December 2018 72,927
At 31 December 2017 60,844

Page 24 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

13. PROPERTY, PLANT AND EQUIPMENT

Group
Fixtures
Freehold Short and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2018 240,000 295,547 295,176 379,075 1,209,798
Additions - 11,374 29,309 42,940 83,623
Disposals - - (34,152 ) (29,203 ) (63,355 )
Revaluations (55,000 ) - - - (55,000 )
At 31 December 2018 185,000 306,921 290,333 392,812 1,175,066
DEPRECIATION
At 1 January 2018 - 264,248 222,584 229,408 716,240
Charge for year - 9,453 14,542 26,008 50,003
Eliminated on disposal - - (31,322 ) (29,198 ) (60,520 )
Reclassification/transfer - - - (3,420 ) (3,420 )
At 31 December 2018 - 273,701 205,804 222,798 702,303
NET BOOK VALUE
At 31 December 2018 185,000 33,220 84,529 170,014 472,763
At 31 December 2017 240,000 31,299 72,592 149,667 493,558

Cost or valuation at 31 December 2018 is represented by:

Fixtures
Freehold Short and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
Valuation in 2018 185,000 306,921 290,333 392,812 1,175,066

Page 25 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

13. PROPERTY, PLANT AND EQUIPMENT - continued

Company
Fixtures
Freehold Short and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2018 240,000 188,060 184,094 314,243 926,397
Additions - 11,374 28,046 37,863 77,283
Disposals - - (29,025 ) (19,486 ) (48,511 )
Revaluations (55,000 ) - - - (55,000 )
At 31 December 2018 185,000 199,434 183,115 332,620 900,169
DEPRECIATION
At 1 January 2018 - 177,847 132,317 187,217 497,381
Charge for year - 5,039 10,377 22,001 37,417
Eliminated on disposal - - (26,624 ) (19,482 ) (46,106 )
Reclassification/transfer - - - (3,420 ) (3,420 )
At 31 December 2018 - 182,886 116,070 186,316 485,272
NET BOOK VALUE
At 31 December 2018 185,000 16,548 67,045 146,304 414,897
At 31 December 2017 240,000 10,213 51,777 127,026 429,016

Freehold property was valued on an open market basis on 31 December 2018 by the directors of the
company.

If freehold property had not been revalued it would have been included at the historical cost of £235,866.

14. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
Additions 30
At 31 December 2018 30
NET BOOK VALUE
At 31 December 2018 30

Page 26 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

14. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 January 2018 143
Additions 30
At 31 December 2018 173
NET BOOK VALUE
At 31 December 2018 173
At 31 December 2017 143

The group or the company's investments at the Statement of Financial Position date in the share capital of
companies include the following:

Subsidiaries

Proactive Personnel (West Midlands) Limited
Registered office: 8 Limes Walk, Oakengates, Telford, Shropshire
Nature of business: Recruitment and employment agency
%
Class of shares: holding
Ordinary 73.00
2018 2017
£    £   
Aggregate capital and reserves (394,177 ) (404,951 )
Profit for the year 10,774 80,558

Proactive Property (Sales and Lettings) Limited
Registered office: 8 Limes Walk, Oakengagtes, Telford, Shropshire
Nature of business: Estate agency
%
Class of shares: holding
Ordinary 100.00
2018 2017
£    £   
Aggregate capital and reserves (17,338 ) (127,166 )
Profit/(loss) for the year 109,828 (110,825 )


Page 27 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

15. STOCKS

Group
2018 2017
£    £   
Liquid capital assets - 33,445

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2018 2017 2018 2017
£    £    £    £   
Trade debtors 5,887,176 6,134,422 4,299,212 4,280,565
Amounts owed by group undertakings - - 664,487 999,177
Other debtors 232,397 113,229 188,200 70,667
Directors' current accounts 263,233 406,140 263,233 406,140
Prepayments 152,580 118,178 128,914 92,746
6,535,386 6,771,969 5,544,046 5,849,295

The company has an invoice discounting agreement. The trade debtors shown above are covered by this
agreement.

The financed debt included in trade debtors as at 31 December 2018 was £5,887,792 (2017 - £6,132,719).

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2018 2017 2018 2017
£    £    £    £   
Bank loans and overdrafts (see note 19) 3,943,146 4,179,668 3,059,327 3,201,065
Trade creditors 239,556 141,784 193,018 124,051
Tax 180,495 150,577 161,928 141,424
Social security and other taxes 408,193 434,424 315,586 326,270
VAT 830,610 856,674 570,668 571,254
Other creditors 21,025 6,810 16,231 4,265
Directors' current accounts 50,482 27,870 50,482 27,837
Accruals and deferred income 684,024 584,798 515,439 424,167
6,357,531 6,382,605 4,882,679 4,820,333

The company has an invoice discounting agreement. The amount outstanding in respect of this agreement
at 31 December 2018 was £3,943,146 (2017 - £4,179,668). This is represented by the bank overdraft
figure above. The invoice discounting company holds a fixed charge over book debts as security against
borrowings.

Page 28 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2018 2017 2018 2017
£    £    £    £   
Bank loans (see note 19) 201,838 201,838 201,838 201,838

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
2018 2017 2018 2017
£    £    £    £   
Amounts falling due within one year or on
demand:
Bank overdrafts 3,943,146 4,179,668 3,059,327 3,201,065
Amounts falling due between two and five
years:
Bank loans - 2-5 years 201,838 201,838 201,838 201,838

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
2018 2017
£    £   
Within one year 358,499 362,599
Between one and five years 246,860 348,748
605,359 711,347

Company
Non-cancellable
operating leases
2018 2017
£    £   
Within one year 253,772 248,335
Between one and five years 169,541 247,170
423,313 495,505

Page 29 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

21. PROVISIONS FOR LIABILITIES

Group Company
2018 2017 2018 2017
£    £    £    £   
Deferred tax 47,393 41,975 38,479 32,127

Group
Deferred
tax
£   
Balance at 1 January 2018 41,975
Provided during year 5,418
Balance at 31 December 2018 47,393

Company
Deferred
tax
£   
Balance at 1 January 2018 32,127
Provided during year 6,352
Balance at 31 December 2018 38,479

22. CALLED UP SHARE CAPITAL



Allotted and issued:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary shares £1 100 100
27 Ordinary Class C shares £1 27 27
127 127

Page 30 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

23. RESERVES

Group
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2018 829,878 101,151 4,135 935,164
Profit for the year 306,140 306,140
Dividends (575,000 ) (575,000 )
Transfer - - (4,135 ) (4,135 )
At 31 December 2018 561,018 101,151 - 662,169

Company
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2018 1,236,626 79,173 4,135 1,319,934
Profit for the year 188,447 188,447
Dividends (575,000 ) (575,000 )
Transfer - - (4,135 ) (4,135 )
At 31 December 2018 850,073 79,173 - 929,246

Share premium account - This reserve records the amount above the nominal value received for shares
sold, less transaction costs.

Revaluation reserve - This reserve records the value of asset revaluation and fair value movement on
assets recognised in other comprehensive income.

Profit and loss account - This reserve records retained earning and accumulated losses

24. NON-CONTROLLING INTERESTS

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s
equity. Minority interests consist of the amount of those interests at the date of the original business
combination and the minority’s share of changes in equity since the date of the combination.

Page 31 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

25. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following directors had interest free loans during the period. The movements on these loans are as
follows :



2018
2017		 Maximum in
period
£ £ £
J Glews 259,851 379,961 379,961
P Lowrey - 11,751 27,258
D Watson - 5,466 39,230
Mrs. L Glews - 5,572 5,348
R Wheeler 3,315 3,343 35,365
D Gordon 67 47 95


26. RELATED PARTY DISCLOSURES

Group

Transactions between group entities which have been eliminated on consolidation are not disclosed
within the financial statements.

Company

During the year the company sold goods and services to Proactive Personnel (West Midlands) Ltd, a
subsidiary company, to the value of £860,198 (2017 - £746,368). At the balance sheet date there was a
balance due from Proactive Personnel (West Midlands) Ltd for these transactions of £364,937 (2017 -
£495,736).

At the year end there was also a loan account balance of £296,550 (2017 - £340,796) due from Proactive
Personnel (West Midlands) Ltd.

Interest on the above balances is being charged at a commercial rate.

During the year the company sold goods and services to Proactive Property (Sales and Lettings) Ltd, a
subsidiary company, to the value of £7,349 (2017 - £28,420). At the balance sheet date there was a
balance due from Proactive Property (Sales and Lettings) Ltd for these transactions of £3,000 (2017 -
£80,119).

At the year end there was also a loan account balance of £nil (2017 - £82,525) due from Proactive
Property (Sales and Lettings) Ltd.

During the year Proactive Property (Sales and Lettings) Ltd ceased trading and as a result of this a trade
debtor balance of £85,939 and a loan debtor balance of £88,347 were written off in the balance sheet of
both companies.

Page 32 continued...
Proactive Personnel Limited (Registered number: 03807344)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2018

27. POST BALANCE SHEET EVENTS

On 8 March 2019 Proactive Personnel Holdings Ltd purchased the 100 ordinary £1 shares of the company.
J M Glews, P A Knight and Mrs L M Glews, directors of the company, are also directors of Proactive
Personnel Holdings Ltd. This in not anticipated to have any financial effect on the group.

On 1 June 2018 Proactive Property (Sales and Lettings) Limited, a subsidiary company in the group, ceased
trading.

28. ULTIMATE CONTROLLING PARTY

The company's shares are owned by several investors. No investor acting individually has the ability to
control the activities of the company and consequently it is considered that there is no ultimate
controlling party.

Page 33