REGISTERED NUMBER: 11983031 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LINNK GROUP LIMITED

Page

Group Strategic Report

1

Report of the Directors

3

Independent Auditors' Report

4

Consolidated Statement of Comprehensive Income

6

Consolidated Balance Sheet

7

Company Balance Sheet

8

Consolidated Statement of Changes in Equity

9

Company Statement of Changes in Equity

10

Consolidated Cash Flow Statement

11

Notes to the Consolidated Financial Statements

12

The directors present their strategic report of the company and the group for the year ended 31st December 2024.

Founded in 2019 in the UK, Linnk Group now operates globally with offices across the UK, India, Qatar, UAE, and Saudi Arabia.

Linnk specialises in staffing, outsourcing, and professional services, connecting highly skilled STEM talent with organisations to drive positive change. By blending these capabilities, we enable our clients to scale services, accelerate innovation, and deliver mission-critical STEM initiatives worldwide.

At our core, we are workforce specialists deploying STEM talent to solve complex workforce challenges and deliver at pace and scale. From this foundation, our professional services have evolved to provide tailored, outcome-driven solutions aligned with client needs and market dynamics.

To future-proof our impact, we've strategically invested in two core pillars: Linnk Academy and Linnk Innovations.

Linnk Academy is preparing the next generation of STEM professionals through structured training pathways, project-based learning, and alignment with emerging market needs ensuring a high-performance, future-ready talent pipeline.

Linnk Innovations is developing the internal capability to deliver outcome-led services at scale. By building AI-powered platforms that enhance recruitment, streamline workforce management, and automate operational delivery, we are setting new benchmarks in efficiency and service intelligence.

Together, these initiatives position Linnk not just to respond to change but to lead it. We empower organisations to scale confidently, adapt to technology shifts, and thrive in a digital-first world.

As a UK-headquartered business with a growing global footprint, Linnk addresses the pressing challenges of rapid technological change, AI integration, and global STEM skill shortages.

Throughout 2024, Linnk reaffirmed its commitment to global growth by investing in next-gen technology and strengthening our infrastructure to meet evolving client demands. As organisations worldwide navigate an era defined by AI and digital transformation, Linnk stands at the forefront, enabling that transition.

Our strategy is designed to solve today's most urgent challenges: bridging global skills gaps, enabling digital transformation, and supporting the move to AI-enabled operations. With a foundation in traditional staffing, we deploy specialist talent at scale across regions and industries. We've expanded our offering through Linnk Digital Workforce and Linnk Innovations, delivering advanced outsourcing, automation, and tech-enabled solutions tailored to complex client requirements.

This evolution reflects our commitment to anticipating workforce trends and helping clients build resilient, adaptive organisations. The expansion of Linnk Academy and Linnk Talent has strengthened our ability to deliver both ready-now and future-fit STEM professionals, supported by ongoing upskilling and reskilling initiatives.

Linnk is now positioned as a strategic partner across talent, technology, and delivery, empowering organisations to compete and succeed in a digital, interconnected world.

Our people are at the heart of this journey. In 2024, we invested in strategic headcount growth, broadened career development pathways, and deepened our inclusive culture. These efforts helped establish Linnk as both a trusted global partner and a world-class employer recognised with 3-Star status by Best Companies and a Top 100 ranking in The Sunday Times Best Places to Work.

In parallel, Linnk achieved record growth, driven by our long-term strategy of integrating people, technology, and delivery. This was validated by being named the 21st fastest-growing private company in the UK by The Sunday Times and the fastest-growing people services business in London by the UBS Fast Growth 50.

These milestones underscore the impact of our strategic investments in global expansion, AI-driven solutions, and talent development.

REVIEW OF BUSINESS

FY24 Financial Performance

Turnover: £36.6 million (30% YoY growth from FY23's £28.2 million)

Gross Profit: £7.2 million (up 26% from £5.7 million)

Gross Margin: 19.68% (FY23: 20.27%)

Admin Expenses: £6.0 million (FY23: £5.3 million)

Net Profit Before Tax: £1.23 million (FY23: £0.4 million)

The results reflect the Group's continued investment in strategic growth and are considered satisfactory by the Directors, aligned with long-term objectives.

Key Performance Indicators

KPI

FY24

FY23

Turnover

£36.6 million

£28.2 million

Gross Margin

19.68%

20.27%

Group Debtor Days

51 days

58 days

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the Group are summarised below:

Foreign Exchange Risk: Managed via proactive planning and limiting cross-currency transactions.

Credit Risk: Mitigated through credit assessments, flexible terms, and insurance in key markets.

Liquidity and Interest Rate Risk: Managed through invoice discounting, regular liquidity reviews, and controlled debt exposure.

Geopolitical Risk: Closely monitored with adaptive strategies for at-risk regions.

STRATEGIC VIEW: 2025 AND BEYOND

As we enter 2025, Linnk continues to build on its momentum with a clearly defined strategy focused on:

1. Expanding Customer Relationships

Deepening engagement with current clients and forging new partnerships through value-led, bespoke talent solutions.

2. Accelerating Technology Investments

Driving automation and AI integration to transform delivery and amplify impact.

3. Elevating Employee Opportunities

Enabling professional growth, fostering inclusive leadership, and supporting high-performance culture.

4. Widening Our Global Footprint

Growing into new markets while strengthening established regions to scale our STEM impact.

5. Embedding Operational Excellence

Enhancing systems, governance, and delivery frameworks to ensure scalability and service quality.

Technology & Innovation

Innovation powers our future. We are investing in AI, automation, and data-driven processes to lead industry transformation. Our in-house platforms enable faster, smarter, and more scalable delivery models, positioning Linnk at the forefront of the next wave of recruitment and workforce solutions.

People & Culture

At Linnk, people are our greatest asset. We're creating an environment where ambition, diversity, and purpose thrive. Our policies ensure support for all, including those navigating life events. Through inclusive hiring, structured development, and meaningful work, Linnk empowers its people to grow and make an impact globally.

Global Expansion

Our international growth is guided by targeted expansion into high-potential regions. We partner with academic, industry, and government bodies to align with national workforce priorities and deliver sustainable STEM ecosystems worldwide.

VISION, MISSION AND GOAL

Vision: To be the most respected and sought-after brand in our industry, driving innovation and building a global community of exceptional talent.

Mission: To provide transformative services that connect people, knowledge, and delivery empowering organisations to access the right STEM talent on demand.

Goal: To create a world where diverse talent collaborates to solve global challenges using technology as a catalyst for sustainable development.

CLOSING STATEMENT

Linnk is more than a business, we are a movement powered by people, driven by purpose, and fuelled by innovation. Our culture of excellence and collaboration continues to attract top global talent, enabling us to deliver transformative results for clients, candidates, and communities.

Through our investments in platforms, partnerships, and people, we are building a globally connected organisation that is equipped for the future where exceptional individuals come together to do exceptional things.

ON BEHALF OF THE BOARD:

I M O'Neill - Director

28th August 2025

The directors present their report with the financial statements of the company and the group for the year ended 31st December 2024.

DIVIDENDS

No dividends will be distributed for the year ended 31st December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

J A Duviau

I M O'Neill

A D Olver

J A Sobrany

P A Collins

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with the Companies Act 2006 s414C(11), to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

I M O'Neill - Director

28th August 2025

Opinion

We have audited the financial statements of Linnk Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and 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 31st December 2024 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

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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 Auditors' Report 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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 three, 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 an Auditors' Report 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management override and revenue recognition. Audit procedures performed included:

-

Enquiring of management whether there were instances of non-compliance with laws and regulation or fraud;

-

Review of legal expenses for evidence of fees relating to non-compliance;

-

Review of journal entries, non-sales bank receipts and non-purchase bank payments for unusual accounting entries; and

-

Substantive testing to ensure revenue was recognised in the correct period.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by for example, forgery or intentional misrepresentations, or through collusion.

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 Auditors' Report.

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 an Auditors' Report 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.

Christian Heeger BSc FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

3rd September 2025

TURNOVER

3

36,588,542

28,163,085

Cost of sales

29,388,993

22,455,752

GROSS PROFIT

7,199,549

5,707,333

Administrative expenses

6,015,436

5,271,180

1,184,113

436,153

Other operating income

26,345

-

OPERATING PROFIT

5

1,210,458

436,153

Interest receivable and similar income

50,743

12,004

1,261,201

448,157

Interest payable and similar expenses

6

32,352

22,518

PROFIT BEFORE TAXATION

1,228,849

425,639

Tax on profit

7

(17,360

)

315,295

PROFIT FOR THE FINANCIAL YEAR

1,246,209

110,344

OTHER COMPREHENSIVE INCOME

Translation reserve

88,492

(58,090

)

NCI at acquisition adjustment

(269,529

)

-

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(181,037

)

(58,090

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,065,172

52,254

Profit attributable to:

Owners of the parent

866,822

(243,929

)

Non-controlling interests

379,387

354,273

1,246,209

110,344

Total comprehensive income attributable to:

Owners of the parent

685,785

(302,019

)

Non-controlling interests

379,387

354,273

1,065,172

52,254

FIXED ASSETS

Intangible assets

10

565,388

616,071

Tangible assets

11

338,215

95,500

Investments

12

-

-

903,603

711,571

CURRENT ASSETS

Debtors

13

8,022,175

6,713,225

Cash at bank and in hand

1,584,353

1,520,212

9,606,528

8,233,437

CREDITORS

Amounts falling due within one year

14

4,321,434

4,225,969

NET CURRENT ASSETS

5,285,094

4,007,468

TOTAL ASSETS LESS CURRENT LIABILITIES

6,188,697

4,719,039

CREDITORS

Amounts falling due after more than one year

15

(857,909

)

(969,411

)

PROVISIONS FOR LIABILITIES

19

(1,556,604

)

(639,305

)

NET ASSETS

3,774,184

3,110,323

CAPITAL AND RESERVES

Called up share capital

20

368

368

Other reserve

21

1,407,707

1,677,236

Merger Reserve

21

1,195,645

1,195,645

Translation reserve

21

54,361

(34,131

)

Retained earnings

21

783,752

(83,070

)

SHAREHOLDERS' FUNDS

3,441,833

2,756,048

NON-CONTROLLING INTERESTS

22

332,351

354,275

TOTAL EQUITY

3,774,184

3,110,323

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2025 and were signed on its behalf by:

I M O'Neill - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

14,622

10,937

Investments

12

110,440

110,440

125,062

121,377

CURRENT ASSETS

Debtors

13

2,905,341

2,343,700

Cash at bank

63,827

7,639

2,969,168

2,351,339

CREDITORS

Amounts falling due within one year

14

1,603,761

1,264,524

NET CURRENT ASSETS

1,365,407

1,086,815

TOTAL ASSETS LESS CURRENT LIABILITIES

1,490,469

1,208,192

CREDITORS

Amounts falling due after more than one year

15

17,500

47,500

NET ASSETS

1,472,969

1,160,692

CAPITAL AND RESERVES

Called up share capital

20

368

368

Retained earnings

1,472,601

1,160,324

SHAREHOLDERS' FUNDS

1,472,969

1,160,692

Company's profit for the financial year

312,277

515,842

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2025 and were signed on its behalf by:

I M O'Neill - Director

Called up

share

Retained

Other

Merger

capital

earnings

reserve

Reserve

£

£

£

£

Balance at 1st January 2023

368

190,859

-

1,195,645

Changes in equity

Dividends

-

(30,000

)

-

-

Total comprehensive income

-

(243,929

)

-

-

Transaction with NCI

-

-

1,677,236

-

Balance at 31st December 2023

368

(83,070

)

1,677,236

1,195,645

Changes in equity

Total comprehensive income

-

866,822

(269,529

)

-

Balance at 31st December 2024

368

783,752

1,407,707

1,195,645

Translation

Non-controlling

Total

reserve

Total

interests

equity

£

£

£

£

Balance at 1st January 2023

23,959

1,410,831

2

1,410,833

Changes in equity

Dividends

-

(30,000

)

-

(30,000

)

Total comprehensive income

(58,090

)

(302,019

)

354,273

52,254

Transaction with NCI

-

1,677,236

-

1,677,236

Balance at 31st December 2023

(34,131

)

2,756,048

354,275

3,110,323

Changes in equity

Dividends

-

-

(401,311

)

(401,311

)

Total comprehensive income

88,492

685,785

379,387

1,065,172

Balance at 31st December 2024

54,361

3,441,833

332,351

3,774,184

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2023

368

674,482

674,850

Changes in equity

Dividends

-

(30,000

)

(30,000

)

Total comprehensive income

-

515,842

515,842

Balance at 31st December 2023

368

1,160,324

1,160,692

Changes in equity

Total comprehensive income

-

312,277

312,277

Balance at 31st December 2024

368

1,472,601

1,472,969

Cash flows from operating activities

Cash generated from operations

26

1,176,446

(344,576

)

Tax paid

(569,921

)

(106,189

)

Net cash from operating activities

606,525

(450,765

)

Cash flows from investing activities

Purchase of intangible fixed assets

(30,119

)

(14,145

)

Purchase of tangible fixed assets

(297,296

)

(24,114

)

Sale of tangible fixed assets

(6,480

)

1,772

Net cash on acquisition of subsidiaries

-

1,024,985

Interest received

50,743

12,004

Net cash from investing activities

(283,152

)

1,000,502

Cash flows from financing activities

New loans in year

344,070

583,733

Loan repayments in year

(240,317

)

(66,024

)

Amount withdrawn by directors

(17,814

)

(26,959

)

Equity dividends paid

(401,311

)

(30,000

)

Interest paid

(32,352

)

(22,518

)

Net cash from financing activities

(347,724

)

438,232

(Decrease)/increase in cash and cash equivalents

(24,351

)

987,969

Cash and cash equivalents at beginning of year

27

1,520,212

590,333

Effect of foreign exchange rate changes

88,492

(58,090

)

Cash and cash equivalents at end of year

27

1,584,353

1,520,212

1.	Statutory information

Linnk Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11983031

Registered office:

New City Court

20 St Thomas Street

London

SE1 9RS

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the group was specialist provision of staffing, outsourcing, and professional services offering access to a global network of expert STEM talent.

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.

Going concern

The directors regularly monitor performance of the group with focus on profitability and cash generation. This allows the directors to make informed judgements about the operations of the group to ensure its long term performance. The directors are satisfied that the group's financial statements should be prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

Reduced disclosures

The parent company has taken advantage of the exemption from disclosing the following information, as permitted by the reduced disclosure regime within FRS 102, since the financial statements of the parent company are consolidated in the group financial statements:

- Section 7 ‘Statement of Cash Flows’ - Presentation of a Statement of Cash Flow and related notes and disclosures.

- Section 11 'Basic Financial Instruments' - Disclosure relating to financial instruments.

- Section 33 ‘Related Party Disclosures’ - Compensation for key management personnel.

Basis of consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Any subsidiary undertakings sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Judgements and key sources of estimation uncertainty

In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Control of Linnk Arabia Limited

Assessment of whether the group controls Linnk Arabia Limited requires judgement. The group holds less than 50% of the voting rights but the group controls the strategic, operating and financial policies of Linnk Arabia Limited. This includes the power to set the annual budget and financial plan, appoint and remove senior executives and set their remuneration, and set operating procedures and responsibilities. The group considers that these powers demonstrate that it controls Linnk Arabia Limited, which has been acknowledged by the other shareholder.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised over the course of the contracted placement, or in the case of permanent placements when the placement begins. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the point contractor time sheets have been completed and approved.

Goodwill

Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values to the group’s interest in the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised over its expected useful life which is estimated to be 10 years.

Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement.

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 three years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:

Fixtures and fittings

-

Straight line over 3 years

Computer equipment

-

Straight line over 3 - 6 years & 33% reducing balance

Financial instruments

The Group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102, in full, to all of its financial instruments.

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

Basic financial assets and liabilities

Trade, group and other debtors (including accrued income) which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised in profit or loss.

Trade, group and other creditors (including accruals) that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled.

Debt instruments are carried at amortised cost using the effective interest rate method.

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 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.