VIBE RECRUIT LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Income and Retained Earnings

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTORS:

M J Evans

Mrs J S Sutton

REGISTERED OFFICE:

Unit 3A, Lakeside Court

Llantarnam Park

Cwmbran

Monmouthshire

NP44 3GA

REGISTERED NUMBER:

11606364 (England and Wales)

AUDITORS:

HW Bedford Limited

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

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

REVIEW OF BUSINESS

The principal activity of the Company is recruitment agencies.

The directors are satisfied with the performance of the Company in the year. The company achieved £16.82m of turnover, up from £12.28m in the prior year. The growth was achieved due to the purchase of the trade from a related entity, PP Realisations 2024 Limited.

The company purchased the trade of PP Realisations 2024 Limited on 7th June 2024, which will have an instantaneous effect on turnover, direct costs and the general overheads of the company.

Although the company suffered a small loss in the year of £35k, the company has streamlined the premises and head count to be more lean and this will have a positive effect on the results for 2025/26.

The Company's key financial and other performance indicators during the year were as follows:

Gross profit percentage measured as a ratio of gross profit to total revenue generated: During the period the company made a gross profit margin of 17.34% (2024: 17.34%).

PRINCIPAL RISKS AND UNCERTAINTIES

The items listed below are considered by key management as the main risks to the operational and financial performance of the company:

Competition

There are many companies in the industry offering similar services, which makes the industry very competitive. The company looks to maintain strong relationships with clients and differentiate themselves from competitors.

Financial instrument risk

The company factors it's trade debtors which helps aid cash flow, however there are risks associated with the interest that is charged.

Staffing

The business is very dependent on the services delivered by the staff. Gaining access to highly skilled and motivated individuals is key to the success of the business.

Regulatory environment

In the recent period, the recruitment industry is governed by increasing levels of regulation, including more complex levels of compliance in their contractual arrangements.

ON BEHALF OF THE BOARD:

M J Evans - Director

29th December 2025

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2025.

DIRECTORS

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

M J Evans

Mrs J S Sutton

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 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.

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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, HW Bedford Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M J Evans - Director

29th December 2025

Opinion

We have audited the financial statements of Vibe Recruit Limited (the 'company') for the year ended 31st March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 company's affairs as at 31st March 2025 and of its loss 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 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

We draw attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £35,645 during the year ended 31 March 2025, but this includes an intercompany loan write off amounting to £324,491 . As stated in Note 2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

Our responsibilities and the 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 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 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, 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.

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 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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Identifying and assessing the controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Challenging assumptions and judgments made by management in its significant accounting estimates and judgments.

- Identifying and testing journal entries, in particular journal entries posted with unusual account combinations; and

- Assessing the extent of compliance with the relevant laws and regulations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. 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 collusions.

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.

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.

Alberto Di Lorenzo FCA (Senior Statutory Auditor)

for and on behalf of HW Bedford Limited

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

29th December 2025

TURNOVER

16,815,909

12,280,463

Cost of sales

13,899,588

10,150,616

GROSS PROFIT

2,916,321

2,129,847

Administrative expenses

2,968,160

2,117,486

(51,839

)

12,361

Other operating income

17,750

-

OPERATING (LOSS)/PROFIT

4

(34,089

)

12,361

Interest payable and similar expenses

6

-

806

(LOSS)/PROFIT BEFORE TAXATION

(34,089

)

11,555

Tax on (loss)/profit

7

1,556

(184

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(35,645

)

11,739

Retained earnings at beginning of year

(704,034

)

(715,773

)

RETAINED EARNINGS AT END OF YEAR

(739,679

)

(704,034

)

FIXED ASSETS

Intangible assets

8

10,845

13,164

Tangible assets

9

10,077

3,855

20,922

17,019

CURRENT ASSETS

Debtors

10

796,695

609,324

Cash at bank

62,671

70,314

859,366

679,638

CREDITORS

Amounts falling due within one year

11

1,284,233

1,399,727

NET CURRENT LIABILITIES

(424,867

)

(720,089

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(403,945

)

(703,070

)

CREDITORS

Amounts falling due after more than one year

12

(333,214

)

-

PROVISIONS FOR LIABILITIES

15

(2,519

)

(963

)

NET LIABILITIES

(739,678

)

(704,033

)

CAPITAL AND RESERVES

Called up share capital

16

1

1

Retained earnings

17

(739,679

)

(704,034

)

SHAREHOLDERS' FUNDS

(739,678

)

(704,033

)

The financial statements were approved by the Board of Directors and authorised for issue on 29th December 2025 and were signed on its behalf by:

M J Evans - Director

1.	STATUTORY INFORMATION

Vibe Recruit 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 Company Information page.

The principal activity of the company in the year under review was that of the provision of temporary and permanent staff to organisations throughout the UK.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

Estimates and judgements are continually evaluated and are based on historical experience and other factors,including expectations of future events that are believed to be reasonable under the circumstances.

Critical judgements in applying the Company's accounting policies.

The directors do not consider there to be any critical accounting judgements that must be applied.

Key accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors do not consider there to be any estimates or assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue arises from the placement of permanent and temporary candidates into employment. The temporary placements are recognised over the period the temporary workers are provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

straight line over 30 months

Computer equipment

-

straight line over 18 months

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Financial instruments

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 statement of financial position 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

Basic financial assets, which include trade debtors, are initially measured at transactions 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.Such assets are subsequently carried at fair value nd the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

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 when the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit and loss.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.

Other financial liabilities

Other financial liabilities, including debt instruments that do not meet the definition of a basic financial instrument, are measured at fair value through profit or loss.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases, including any leas 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.

Going concern

The accounts have been prepared on a going concern basis as the company is supported by the majority shareholder of the parent company. The company has made a loss of £35,645 and has net liabilities of £739,678. The net loss includes a gain on the write off of inter group balances amounting to £324,491, so the loss incurred would be £360,136, without this adjustment.

Since the year end the company's trade has remained steady but still running at a loss. Management are actively addressing the financial challenges and are implementing various strategic initiatives to improve profitability and liquidity.

The ability of the company is to meet its financial obligations, fund ongoing operations, and regain profitability

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

15,957,278

11,562,330

Social security costs

8,639

-

15,965,917

11,562,330

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

2025

2024

Recruitment

492

379

Administration

47

30

Director

2

1

541

410

2025

2024

£

£

Directors' remuneration

69,425

-

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

£

Depreciation - owned assets

7,569

7,126

Goodwill amortisation

2,319

2,319

Auditors' remuneration

6,000

4,910

5.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

324,491

202,474

On 7 June 2024 the company purchased the trade of PP Realisations 2024 Limited, who are a member of the group. The aim of this is to streamline the businesses within the group. As a result, the balance of £60,241 owed to PP Realisations 2024 Limited was written off as at 31st March 2025.

Separately the directors agreed to write off a balance due to a separate group company amounting to £264,250 2024: (£Nil).

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on late tax payment

-

806

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the loss for the year was as follows:

2025

2024

£

£

Deferred tax

1,556

(184

)

Tax on (loss)/profit

1,556

(184

)

UK corporation tax was charged at 25%) in 2024.

Reconciliation of total tax charge/(credit) 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:

2025

2024

£

£

(Loss)/profit before tax

(34,089

)

11,555

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(8,522

)

2,889

Effects of:

Expenses not deductible for tax purposes

2,403

2,925

Capital allowances in excess of depreciation

(976

)

-

Depreciation in excess of capital allowances

-

764

Losses carried forward

74,866

2,967

Deferred tax provision

1,556

(184

)

Group loan balance written off

(81,123

)

(50,619

)

Group losses surrendered/utilised

13,352

41,074

Total tax charge/(credit)

1,556

(184

)

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

30,965

AMORTISATION

At 1st April 2024

17,801

Amortisation for year

2,319

At 31st March 2025

20,120

NET BOOK VALUE

At 31st March 2025

10,845

At 31st March 2024

13,164

9.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2024

13,838

38,028

51,866

Additions

7,100

6,691

13,791

At 31st March 2025

20,938

44,719

65,657

DEPRECIATION

At 1st April 2024

12,497

35,514

48,011

Charge for year

2,974

4,595

7,569

At 31st March 2025

15,471

40,109

55,580

NET BOOK VALUE

At 31st March 2025

5,467

4,610

10,077

At 31st March 2024

1,341

2,514

3,855

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,392,203

2,016,741

Doubtful debt provision

(19,269

)

-

Bibby invoice factoring

(1,963,840

)

(1,698,701

)

Other debtors

9,672

5,216

Prepayments and accrued income

377,929

286,068

796,695

609,324

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

18,616

5,455

Amounts owed to group undertakings

69,801

269,986

Social security and other taxes

352,659

292,583

VAT

453,660

478,910

Other creditors

20,809

21,271

Net wages outstanding

256,909

189,787

Accruals and deferred income

111,779

141,735

1,284,233

1,399,727

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Social security and other taxes

333,214

-

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

45,813

57,250

Between one and five years

39,250

83,592

85,063

140,842

14.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Trade debtors - factored

1,963,840

1,698,701

Bibby Financial Services Limited has registered a first legal charge, both fixed and floating, over all property.

15.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,519

963

Deferred

tax

£

Balance at 1st April 2024

963

Charge to Statement of Comprehensive Income during year

1,556

Balance at 31st March 2025

2,519

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

1

1

1

17.

RESERVES

Retained

earnings

£

At 1st April 2024

(704,034

)

Deficit for the year

(35,645

)

At 31st March 2025

(739,679

)

18.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company provided services amounting to £5,735 (2024 - £19,980) to Richburns Limited, a company with a common director. At the year end the company were owed £26,502 (2024 - £19,620).

Also during the period the company received consultancy services from Redneval Consultancy Limited, a company in which the director, M J Evans has an interest. During the year the company was charged £27,046 (2024 - £Nil) for these services. At the year end £Nil (2024 - £Nil) was owed to Redneval Consultancy Limited.

Additionally during the year the company provided services to PP Realisations 2024 Ltd (PPRL), a group company, amounting to £Nil (2024 - £261,672). The company were also recharged costs from PPRL amounting to £21,250 (2024 - £146,963).

On the 4 November 2024 liquidators were appointed of PPRL, and as a result, the balance due to the company amounting to £60,241 was written off. The balance as at 31 March 2024 was £Nil.

During the year, a total of key management personnel compensation of £ 149,333 (2024 - £ 148,664 ) was paid.

19.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Evans.

By virtue of his significant control and majority shareholding of the parent company.

Personas Group Limited is regarded by the directors as being the company's ultimate parent company.

Their registered office is Bicester Innovation Centre, 110 Commerce House, Telford Road, Bicester, Oxfordshire, OX26 4LD

Copies of the consolidated financial statements of Personas Group Limited are available at Companies House.