The directors present the strategic report for the year ended 31 March 2025.

We are a specialist recruitment consultancy who partner with clients to strategically solve challenges in the Power, Renewable and Nuclear energy sectors. Our innovative and consultative approach ensures we consistently deliver unmatched value through insight-driven energy recruitment solutions for both our candidates and clients.

Our mission is to consolidate our leadership in energy recruitment across the Power, Renewables and Nuclear sectors. To realise this vision, we have set forth ambitious strategic goals and plans, including:

• Expanding our market share by securing new business from targeted industries, thereby broadening our reach and impact.

• Driving new business growth through bespoke, customer-focused service offerings and nurturing collaborative, long-term customer relationships.

• Investing in state-of-the-art technology to boost productivity, foster innovation, and enhance our service delivery capabilities.

• Becoming an employer of choice, dedicated to attracting, developing, and retaining top-tier talent to propel our growth, while fostering an outstanding company culture.

Our Senior Leadership Team, with its wealth of experience, is well-equipped to guide the company towards continued success. The Directors are confident in their ability to drive business growth, with a steadfast commitment to our service offerings and client relationships being central to achieving this goal.

As a tech-driven business, we are committed to continuous investment in cutting-edge technology to streamline processes and enhance time efficiency. Our dedicated internal department leverages data for Business Intelligence, ensuring we stay ahead of industry trends and make informed decisions.

This technological edge allows us to provide our clients with faster, more accurate recruitment solutions, ultimately saving them time and resources. For our candidates, this means a more efficient and personalised job search experience, as we can match them with opportunities that best fit their skills and career aspirations.

We actively foster a culture of learning and networking across all departments, significantly enriching the employee experience and adding unparalleled value. This commitment to professional development ensures that our team is always equipped with the latest industry knowledge and best practices, which directly benefits our clients and candidates through superior service and innovative solutions.

Astute is not just a recruitment consultancy; we are a dynamic force in the energy sector, dedicated to delivering excellence and innovation. Our strategic vision and relentless pursuit of growth position us to continue leading the industry, creating lasting value for our clients, candidates, and stakeholders

As a champion of equal opportunities, we are committed to non-discrimination and non-harassment based on ethnic origin, religion, gender, age, disability, and sexual orientation. We invest significantly in our staff through comprehensive training and talent development programs, ensuring our team is empowered to excel and drive the company forward.

Fair review of the business

The key performance indicators used to determine the progress and performance of the company are set out below:

The financial results for 2025 have been exceptionally positive, showcasing a robust performance with Net Fee Income increasing by 8% and EBITDA increasing by an impressive 62% year-on-year. These results have come at a time that many commentators within the industry have been reporting decline in Net Fee Income.

Our success has come from our industry leading product offerings, designed to foster stronger working relationships with our clients. These offerings provide a more dedicated service, delivering superior results in less time. By aligning our brand identity with our strategic goals, we have positioned ourselves to better meet the needs of our clients and enhance our market presence.

A significant portion of our growth has been from the development of contract opportunities. This can be seen in the change in ratio of Net Fee Income from contract and permanent roles in our KPIs above. This growth in recurring income provides a solid foundation for continued profitability into 25/26.

In March 2024, the Board embarked on a comprehensive operational restructure of the UK business, designed to elevate our service delivery and align with our ambitious strategic goals. Faced with escalating overhead costs and the imperative to streamline expenses for the forthcoming budget, the Board made the difficult yet necessary decision to reduce headcount.

These changes, together with the growth in Net Fee Income, have resulted in significant EBITDA growth. This strategic move is a testament to our commitment to financial success and operational excellence. The board expects this to continue to yield positive results, driving sustainable growth and ensuring long-term success

Our commitment to innovation and excellence is evident in every aspect of our business. Our branding enhances our visibility and reinforces our dedication to providing top-tier recruitment solutions whilst our investment in technological infrastructure has not only improved our operational efficiency but positions us to capitalise on emerging market opportunities. We are confident that this will drive sustainable growth and solidify our reputation as a leader in the industry.

Financial instruments

The main risks arising on the company’s operations are customer risk, credit risk, and liquidity risk. The principal financial instruments comprise of cash, trade debtors, trade creditors and commercial finance loans. The main purpose of these financial instruments is to maintain working capital for the Company’s operations.

Customer risk

The company has a wide range of customers and has limited exposure to any one customer. The company strategy is focused on growth from a variety of customers and sectors, particularly in the Renewables and Nuclear sectors where a variety of specialisms exist. The directors believe that the Company is well equipped to manage and mitigate such risks.

Credit risk

The company’s principle financial assets are trade debtors. Credit risk is managed through effective credit control including detailed pre credit checks, monitoring of credit rating agency information and continual review by the credit control team of collection history and debt ageing. Credit insurance provided by Alliance covers the majority of debt book at any one time.

Liquidity risk

Liquidity risk is managed by ensuring there are sufficient funds available to meet payments as they fall due. The company makes use of commercial finance loans which have sufficient headroom to support the company’s growth aspirations. The facility was reviewed and renewed during the year, ensuring it is fit for purpose.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2025.

The principal activity of the company continued to be that of recruitment.

The results for the year are set out on page 11.

Ordinary dividends were paid amounting to £375,000.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The auditor, TC Group, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the annual report 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

We have audited the financial statements of Astute Technical Recruitment Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 company's affairs as at 31 March 2025 and of its 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the 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.

As explained more fully in the directors' responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

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 auditor's 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

• We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

• We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

• We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

• We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s 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 auditor's 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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Astute Technical Recruitment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building 4000, Lakeside North Harbour, Western Road, Portsmouth, Hampshire, PO6 3FT.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

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

The financial statements of the company are consolidated in the financial statements of Astute Recruitment Group Limited. These consolidated financial statements are available from its registered office, Building 4000, Lakeside North Harbour, Western Road, Portsmouth, Hampshire. PO6 3FT.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has sufficient resources to continue in operational existence for the foreseeable future. In making this assessment the directors have prepared cash flow forecasts for a period covering at least 12 months from the date of approval of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

Turnover is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, net of discounts, rebates, VAT and other sales-related taxes.

Turnover from the placement of permanent candidates is recognised either at the point the candidate accepts a formal job offer or the point in time the candidate commences full-time employment, depending on the contractual terms agreed. In addition, where a contract is signed for a recruitment project (multiple roles), turnover is recognised as the agreed stages of project completion are reached.

If a permanent candidate leaves employment within a specified period, an adjustment is made to Turnover to reflect the required refund or credit note due to the client.

Turnover arising from temporary placements is recognised daily for work completed, starting from the point in time that temporary workers are provided and continues through the duration of the placement.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, group and related party balances, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, commercial finance loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’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.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Included within Debtors are £1,257,266 (2024 - £621,050) of Amounts due from group undertakings, which are non-interest bearing, unsecured and have no formal repayment terms. In preparing these financial statements the directors have assessed the Amounts due from group undertakings for potential impairment and concluded that no impairment is necessary at 31 March 2025. It is the directors view that the future profit generation of the company and of the group undertakings, will be such that sufficient cash flows will be generated to enable the full repayment to the company of the amounts due, or for amounts due to the parent company to be recovered by the declaration of future dividends.

The average monthly number of persons employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2024 - 4).

The directors are also considered to be the Key Management Personnel of the company.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

There are no formal terms in place in respect of the amounts owed by group undertakings, which are unsecured and repayable on demand.

The Commercial finance loans relates to a debt factoring arrangement, in which the company has sold the rights to the receipts of certain of its Trade debtors to the finance company. The company has recourse for the debts factored and hence the debt factoring arrangement does not meet the criteria for de-recognition within these financial statements and hence is presented separately from Trade debtors. The debt factoring arrangement incurs a discount charge of 1.75% above base, with refactoring after 120 days incurring a 1% charge. Two directors have provided a £75,000 personal guarantee each to the finance company as security for the Commercial finance loans.

Other loans relates to a formal loan taken out by the company with third party lenders. The loan is repayable in 72 equal monthly instalments of £6,332 until 24 April 2030, inclusive of interest at 19.9%. A director has provided a 100% outstanding balance personal guarantee to the finance company as security for the debt factoring arrangement. Of the amount disclosed as due greater than one year £3,681 is due greater than 5 years.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The company has applied the exemption available in FRS 102 Section 33.1A from disclosing transactions and balances with fellow wholly owned group undertakings.

During the year the company entered into the following transactions with other related parties:

The following amounts were outstanding at the reporting end date:

A director maintains a loan account with the company. At the beginning of the year the director owed the company £224,056. During the year further payments were advanced to the director totalling £167,253 and repayments were received from the director of £135,000. At the balance sheet date the director owed the company £256,309.

There are no formal terms in place in respect of the amounts owed by related party entities under common control, which are unsecured and repayable on demand.

The company is wholly owned by Astute Recruitment Group Limited, a company registered in England and the ultimate parent undertaking. Astute Recruitment Group Limited produces consolidated accounts which can be obtained from the company's registered office at Building 4000 Lakeside North Harbour, Western Road, Portsmouth, United Kingdom, PO6 3FT.

The ultimate controlling party is the director of Astute Recruitment Group Limited and his immediate family.