OFFICE ANGELS LIMITED

1. OFFICE ANGELS LIMITED 1986-04-16 → present
2. COMPACTLINK LIMITED 1986-02-03 → 1986-04-16

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Audit opinion

Unaudited (audit-exempt)

Going concern

Affirmed

“The Directors have considered the application of the going concern basis of accounting. The Company obtained a letter of support from Olsten (UK) Holdings Limited which consists of unconditional financial support to the company for the period of 12 months from the date of approval of financial statements. Olsten (UK) Holdings in turn has a letter of support from Adecco Group AG, its ultimate parent company which consists of unconditional financial support to the company for the period of 18 months from the date of approval of its financial statements. Furthermore, the Directors have considered the ability of Adecco Group AG to support the Group and company Adecco Group AG generated operating profits (EBITA before one offs) of €709 million and free cash flow of €563 million in full-year 2024. Adecco Group AG is expected to remain solidly profitable and cash generative during 2025, benefiting from a flexible cost structure and robust through-the-cycle cashflow. Adecco Group AG also has a strong balance sheet and significant liquidity headroom. As at 30 June 2025, cash on hand amounted to €0.3 billion, net current assets were €0.2 billion and net assets were €3.2 billion. Adecco Group AG has access to a €0.75 billion committed long-term revolving credit facility, which remains undrawn and is not subject to any financial covenants. From a liquidity perspective, the UK is part of Adecco Group's cash pool and benefits from the strength of group cash reserves. Group net debt was €2.9 billion at 30 June 2025. The Net Debt to EBITDA ratio, excluding one-offs was 3.6, in line with management expectations. Based on these assumptions, the Directors have no reason to believe that a material uncertainty exists that may cause significant doubt about the ability of the group and company to continue as a going concern or its ability to fulfil its financial obligations. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “After year end, it was identified that, during the period 2019 to 2023, tax losses were surrendered under group relief for nil consideration, which did not comply with the Companies Act requirements. Following legal advice, the Directors intend to implement a payment arrangement to remedy this. As part of this arrangement, an intercompany payable of £127,000 will be recognised, representing the fair value of the cumulative losses surrendered to the company. This remedy will be reflected in the 2025 financial statements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -8.2%

  £49,831,000 → £45,748,000

• Cash

  +124.7%

  £73,000 → £164,000

• Net assets

  +9.8%

  £12,604,000 → £13,836,000

• Employees

  -9.6%

  188 → 170

• Operating profit

  -43.4%

  £4,132,000 → £2,340,000

• Profit before tax

  -43.4%

  £4,132,000 → £2,340,000

• Wages

  -16.6%

  £11,324,000 → £9,444,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers