REGISTERED NUMBER: 05959235 (England and Wales)

CARROT PHARMA RECRUITMENT LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Green

S A Leighton-Smith

REGISTERED OFFICE:

Compass House

8A High Street

Cosham

Portsmouth

Hampshire

PO6 3BZ

REGISTERED NUMBER:

05959235 (England and Wales)

SENIOR STATUTORY AUDITOR:

Tom Young FCA

INDEPENDENT AUDITORS:

Hopper Williams & Bell Limited

Statutory Auditor

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

FIXED ASSETS

Tangible assets

4

2,065

3,813

CURRENT ASSETS

Debtors

5

680,414

2,147,634

Cash at bank

128,096

209,773

808,510

2,357,407

CREDITORS

Amounts falling due within one year

6

(171,457

)

(296,648

)

NET CURRENT ASSETS

637,053

2,060,759

TOTAL ASSETS LESS CURRENT LIABILITIES

639,118

2,064,572

PROVISIONS FOR LIABILITIES

(516

)

(953

)

NET ASSETS

638,602

2,063,619

CAPITAL AND RESERVES

Called up share capital

110

110

Retained earnings

638,492

2,063,509

638,602

2,063,619

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

S A Leighton-Smith - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The accounts for the current year have been prepared to 31 March 2025. The accounts in the prior year were prepared to 31 March 2024 due to the weekly target structure which created a 5/4/4 reporting matrix Monday to Sunday. This was used within the recruitment industry and other sectors to which targets were set in a similar way.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. For contractor placements, turnover is recognised in the period in which it relates. For permanent placements, turnover is recognised when the candidate commences employment. Rebates are recognised at a sliding scale of the recruitment fee if a placement leaves employment within three months.

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.

Computer equipment

-

Straight line over 4 years

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 recognised in the income statement.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Pension costs and other post-retirement benefits

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

Operating lease agreements

Rentals payable on operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

6,991

DEPRECIATION

At 1 April 2024

3,178

Charge for year

1,748

At 31 March 2025

4,926

NET BOOK VALUE

At 31 March 2025

2,065

At 31 March 2024

3,813

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

291,999

197,684

Amounts owed by group undertakings

330,006

1,879,370

Other debtors

58,409

70,580

680,414

2,147,634

Amounts owed by group undertakings are interest free and repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,683

13,907

Amounts owed to group undertakings

3,548

-

Taxation and social security

60,225

173,109

Other creditors

93,001

109,632

171,457

296,648

7.	SECURED DEBTS

Shawbrook Bank Limited provided a bank loan to Carrot Pharma Recruitment Ltd parent company, Compass Recruitment Solutions Limited dated 19 May 2023. The loan was refinanced with Barclays Bank UK PLC on 14 January 2025. The loan is secured by fixed and floating charges over the group's assets.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tom Young FCA (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

9.	OPERATING LEASE COMMITMENTS

Total operating lease commitments as at 31 March 2025 were £18,148 (2024: £10,261).

10.	RELATED PARTY DISCLOSURES

In accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', intercompany transactions have not been disclosed as Carrot Pharma Recruitment Ltd is a 100% subsidiary of Compass Recruitment Solutions Limited.

11.	POST BALANCE SHEET EVENTS

On the 17 December 2025, the company entered into an agreement with Close Invoice Finance Limited for a credit facility with a limit of £500,000 for the group of companies encompassing Compass Associates Limited, Carrot Pharma Recruitment Limited and Consult Search & Selection limited.

This facility is secured over the trading assets of the group.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Compass Recruitment Solutions Limited.

The ultimate controlling company is Cow Corner Nominees Limited.

The ultimate controlling party is L Campbell and M Rourke.