Company registration number 14275746 (England and Wales)
DEPLOY RECRUITMENT GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
DEPLOY RECRUITMENT GROUP LIMITED
COMPANY INFORMATION
Directors
P R Smith
Mrs K S Smith
(Appointed 7 November 2025)
Company number
14275746
Registered office
73 Cornhill
London
EC3V 3QQ
Auditor
Gerald Edelman LLP
73 Cornhill
London
EC3V 3QQ
Business address
FBC Clerkenwell
40 Bowling Green Lane
London
EC1R 0NE
DEPLOY RECRUITMENT GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 27
DEPLOY RECRUITMENT GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 1 -

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

Review of the business

Deploy Recruitment Group enjoyed a successful year thanks to the efficiencies and systems introduced last year, as well as its focus on the top and bottom lines. This is an ongoing process, and by learning and using AI, automation, and software such as Power BI, we will continue to monitor and improve the top and bottom lines.

Our core markets, Rail and Infrastructure, continue to show resilience. It has been slower than expected in the rail sector, but we are now seeing projects starting across the UK, Ireland, and Canada, which we expect to continue over the next few years. Deploy has been named as a preferred bidder for a multi-year railway framework, which is the largest in the UK, starting in April 2026. We are making strides in the Civil Engineering, Data Centre, and Energy sectors by working with existing clients in these spaces and with new clients seeking a compliant, delivery-focused partner. Our operations supplying resources to Ireland and North America to serve clients in our current market have continued to grow but not a fast as expected. Deploy Consulting Inc, in Toronto, continues to serve our clients in the province of Ontario and will grow in 2026 following the announcement of new funding starting Q3 2026. The incorporation of Ireland business Deploy Talent Services Limited will be complete early Q2 2026.

Systems and technology remain critical to the long-​term success of our website by improving its functionality, with a focus on our candidates' and clients' experience. This will then feed into our cloud-​based CRM and enable us to focus our efforts on our marketing strategy, resulting in greater brand exposure across all the sectors we service. We have established the authority of the word 'Deploy' in search engines such as Google, which helps the business be found more easily and allows us to rank higher than most of our competitors. We have consolidated our offices to two: Central London and Hampshire. We have consolidated the teams from our other two offices into our Central London location, enabling cost savings and creating a more efficient, collaborative team environment.

The group made a loss before tax of £58,352 (2024: profit - £171,669). As at the balance sheet date, Deploy Recruitment Group Limited ha d net current liabilities of £346,491 (2024: £26,815). The key performance indicator used by management is the gross profit margin. The director consider the underlying operational performance of the company to be satisfactory. The group made a gross profit of £3,408,359 (2024: £4,060,261) during the year. Group's gross profit margin of 1 9.9% (2024: 18.9%) resulting from trading was in line with management expectations, primarily due to greater efficiencies and more focus on our cost base. In this financial year, we incurred two unforeseen costs exceeding £100,000. One of these costs was part of an insurance claim we successfully won, with a proportion of this claim due to be repaid to the business within the next financial year.

Deploy Recruitment Group Limited are the go-to consultancy for infrastructure and technology recruitment. We aim to positively impact the efficiency, safety, compliance, and working practices of projects across Rail and Infrastructure, Engineering and Manufacturing, Energy and Power, IT and Technology, and more by strategically sourcing and matching niche, skilled individuals, designing quality solutions, and long-term collaboration.

Principal risks and uncertainties

There is no requirement for a formal risk management structure due to the close involvement of the director in the day-to-day management of the business. The risk implications of business decisions affecting the group are considered by the director and his key management team on an ongoing basis to ensure that any risks arising from changes in the group's operations or the external environment are identified and appropriately managed. The detailed individual risks have been categorised into the following areas:

- taxation;

- management;

- financing;

- economic climate

In order to provide relevant and timely information to the director, group prepares regular monthly management reports including analysis of material variances. The nature of the specific risk area and related controls are as follows;

Taxation risk

The group is exposed to financial risks from increases in tax rates and changes to the basis of taxation including corporation tax and VAT in the UK.

DEPLOY RECRUITMENT GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -
Principal risks and uncertainties

Principal controls

These include regular monitoring of legislative proposals and the use of experienced sector-specific professional advisers to mitigate the impact of changes.

Management risk

The Group is reliant on its small high calibre team of operational staff and its directors.

Principal controls

The Group benefits from loyal, high-calibre employees who have been with the group for a number of years. Group has tried to ensure that the knowledge base of this team is maintained. They have an experienced understanding of the sectors they operate in.

Other information and explanations

Financial instruments

The Group's financial instruments comprise of bank balances, trade debtors, trade creditors and an invoice discounting facility. The main purpose of these instruments is to raise funds to finance the operations of the Deploy Recruitment Group Limited. The Group's approach to managing risks applicable to the financial instruments concerned is shown below.

Price risk

The directors consider the groups's exposure to changing market prices is managed by regularly negotiating prices with suppliers.

Interest rate risk

The group finances its operations primarily through trade debtors and trade creditors, bank balances and an invoice discounting facility. Group’s main exposure to interest rate fluctuations is on the facility, although the group look to limit the amounts drawn to mitigate the risk.

Liquidity risk

T he group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs to invest cash assets safely and profitably. Primarily this is achieved through an invoice discounting facility allowing the group to draw down on funds when needed. Trade debtors are managed in respect of credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors are managed by ensuring sufficient funds are available to meet amounts due.

Credit risk

All customers who wish to trade on credit terms are subject to credit verification procedures. The management monitors credit risk closely and consider that its current policy of credit checks meet its objectives of managing exposure to credit risk. In addition, trade debtor balances are monitored on an ongoing basis and provision is made for doubtful debts where necessary. The directors do not consider that the group's exposure to bad and doubtful debts is significant.

On behalf of the board

P R Smith
Director
13 April 2026
DEPLOY RECRUITMENT GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -

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

Principal activities

The principal activity of the company is that of a holding company owning various trading subsidiaries engaged in the provision recruitment services to the construction, technology and rail industries.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

P R Smith
Mrs K S Smith
Auditor

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

Statement of disclosure to auditor

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 auditor of the company 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 auditor of the company is aware of that information.

Going concern

In determining the appropriate basis of preparation of the financial statements, the director is required to consider whether the Group can continue in operational existence for the foreseeable future.

The Group's forecast and projections, taking account of reasonable possible changes in trading performance, show that the company will be able to operate within the level of its current facilities.

Accordingly, at the time of approving the financial statements, the director ha s a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continue s to adopt the going concern basis of accounting in preparing the financial statements

On behalf of the board
P R Smith
Director
13 April 2026
DEPLOY RECRUITMENT GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, 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;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DEPLOY RECRUITMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DEPLOY RECRUITMENT GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of Deploy Recruitment Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows 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 group's and the parent company's affairs as at 31 October 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 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:

- T he information given in the strategic report and the directors' r eport 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.

DEPLOY RECRUITMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DEPLOY RECRUITMENT GROUP LIMITED
- 6 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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 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 directors' r esponsibilities s tatement, 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 group's and 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 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. 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.

Our audit procedures were primarily directed towards testing the accounting systems in operation which we have based our assessment of the financial statements for the period ended 31 October 202 5.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

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

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

- Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

- Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.

- Enquiring of management their internal controls established to mitigate risk related to fraud or non-compliance with laws and regulations.

- Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; posting of unusual journals.

- Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Companies Act, tax legislation, data protection, anti-bribery, employment law and health and safety.

DEPLOY RECRUITMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF DEPLOY RECRUITMENT GROUP LIMITED
- 7 -
Audit response to risks identified
Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships.

- Audited the risk of management override of controls, including through testing journal entries for appropriateness

- Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

- Investigated the rationale behind significant or unusual transactions.

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

- Agreeing financial statements disclosures to underlying supporting documentation.

- Reviewing minutes of meetings of those charged with governance.

- Enquiring of management as to actual and potential litigation claims.

- Reviewing correspondence with HMRC.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors.

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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Hiten Patel FCCA (Senior Statutory Auditor)
For and on behalf of Gerald Edelman LLP, Statutory Auditor
73 Cornhill
London
EC3V 3QQ
13 April 2026
DEPLOY RECRUITMENT GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
17,125,135
20,994,326
Cost of sales
(13,716,777)
(16,934,065)
Gross profit
3,408,358
4,060,261
Administrative expenses
(3,447,671)
(3,870,210)
Operating (loss)/profit
4
(39,313)
190,051
Interest payable and similar expenses
8
(19,038)
(18,382)
(Loss)/profit before taxation
(58,351)
171,669
Tax on (loss)/profit
9
(51,191)
(63,829)
(Loss)/profit for the financial year
21
(109,542)
107,840
(Loss)/profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
DEPLOY RECRUITMENT GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
1,219,532
1,398,078
Tangible assets
11
10,599
21,600
1,230,131
1,419,678
Current assets
Debtors
14
3,763,200
3,729,436
Cash at bank and in hand
348,524
529,449
4,111,724
4,258,885
Creditors: amounts falling due within one year
15
(4,458,215)
(4,285,700)
Net current liabilities
(346,491)
(26,815)
Total assets less current liabilities
883,640
1,392,863
Creditors: amounts falling due after more than one year
16
(646,646)
(1,043,567)
Provisions for liabilities
Deferred tax liability
18
2,640
5,400
(2,640)
(5,400)
Net assets
234,354
343,896
Capital and reserves
Called up share capital
20
100
100
Profit and loss reserves
21
234,254
343,796
Total equity
234,354
343,896

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

The financial statements were approved by the board of directors and authorised for issue on 13 April 2026 and are signed on its behalf by:
13 April 2026
P R Smith
Director
Company registration number 14275746 (England and Wales)
DEPLOY RECRUITMENT GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2025
31 October 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
12
3,000,000
3,000,000
Current assets
Debtors
14
100
100
Cash at bank and in hand
14,043
3,802
14,143
3,902
Creditors: amounts falling due within one year
15
(2,410,767)
(2,062,562)
Net current liabilities
(2,396,624)
(2,058,660)
Total assets less current liabilities
603,376
941,340
Creditors: amounts falling due after more than one year
16
(604,650)
(942,150)
Net liabilities
(1,274)
(810)
Capital and reserves
Called up share capital
20
100
100
Profit and loss reserves
21
(1,374)
(910)
Total equity
(1,274)
(810)

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £464 (2024 - £463 loss).

The financial statements were approved by the board of directors and authorised for issue on 13 April 2026 and are signed on its behalf by:
13 April 2026
P R Smith
Director
Company registration number 14275746 (England and Wales)
DEPLOY RECRUITMENT GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 November 2023
100
235,956
236,056
Year ended 31 October 2024:
Profit and total comprehensive income
-
107,840
107,840
Balance at 31 October 2024
100
343,796
343,896
Year ended 31 October 2025:
Loss and total comprehensive income
-
(109,542)
(109,542)
Balance at 31 October 2025
100
234,254
234,354
DEPLOY RECRUITMENT GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 November 2023
100
(447)
(347)
Year ended 31 October 2024:
Loss and total comprehensive income for the year
-
(463)
(463)
Balance at 31 October 2024
100
(910)
(810)
Year ended 31 October 2025:
Loss and total comphrensive income for the year
-
(464)
(464)
Balance at 31 October 2025
100
(1,374)
(1,274)
DEPLOY RECRUITMENT GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
257,438
407,613
Interest paid
(19,038)
(18,382)
Income taxes paid
(66,398)
(10,820)
Net cash inflow from operating activities
172,002
378,411
Investing activities
Purchase of tangible fixed assets
(1,823)
(11,723)
Net cash used in investing activities
(1,823)
(11,723)
Financing activities
Repayment of bank loans
(63,604)
(53,060)
Payment of deferred consideration
(287,500)
(125,000)
Net cash used in financing activities
(351,104)
(178,060)
Net (decrease)/increase in cash and cash equivalents
(180,925)
188,628
Cash and cash equivalents at beginning of year
529,449
340,821
Cash and cash equivalents at end of year
348,524
529,449
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 14 -
1
Accounting policies
Company information

Deploy Recruitment Group Limited is a private limited company domiciled and incorporated in England and Wales. The registered office is 73 Cornhill, London, United Kingdom, EC3V 3QQ.

The group consists of Deploy Recruitment Group Limited and all of its subsidiaries.

1.1
Basis of preparation

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 a mounts 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.

The 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 for parent company information presented within the consolidated 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’ 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.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Deploy Recruitment Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 October 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4
Going concern

In determining the appropriate basis of preparation of the f inancial s tatements, the director s are required to consider whether the group can continue in operational existence for the foreseeable future.

The Group's forecast and projections, taking account of reasonable possible changes in trading performance, show that the group will be able to operate within the level of its current facilities.

Accordingly, at the time of approving the financial statements, the director s ha ve a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director s continue to adopt the going concern basis of accounting in preparing the financial statements

1.5
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for labour services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance

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 profit and loss account.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 16 -
1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Cash and cash equivalents

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.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 17 -
1.11
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 to all of its financial instruments.

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

Financial assets and liabilities are offset and 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 debtors 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 m ethod 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 and 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 what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 18 -
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 paymen ts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
Taxation

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

Current 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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 if, and only if, there is 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.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 19 -
1.14
Employee benefits

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.

1.15
Retirement benefits

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

1.16
Leases
As lessee

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 lease d asset are consumed.

2
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrued income

The group has in place established internal control processes to ensure that the evaluation of costs and revenues is based upon appropriate estimates and calculations

Amortisation of goodwill

Management establish a reliable estimate of the useful life of goodwill and intangible assets based on factors such as the expected use of the acquired business, the expected useful life of the cash generating units to which the goodwill is attributed, and legal, regulatory or contractual provisions that can limit the useful life and assumptions that market participants would consider in respect of similar business.

3
Turnover
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
16,387,866
20,755,917
USA & Canada
737,269
238,409
17,125,135
20,994,326
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
3
Turnover
(Continued)
- 20 -

All turnover is derived from principal activity.

4
Operating (loss)/profit
2025
2024
£
£
Operating (loss)/profit for the year is stated after charging/(crediting):
Exchange gains
-
(457)
Depreciation of owned tangible fixed assets
12,824
14,519
Amortisation of intangible assets
178,546
178,546
Operating lease charges
188,993
152,569
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company's subsidiaries
36,000
34,000
For other services
Taxation compliance services
3,000
3,000
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Sales and administrative
34
33
1
1

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
1,455,896
1,650,166
-
0
-
0
Social security costs
184,592
193,551
-
-
Pension costs
69,996
50,665
-
0
-
0
1,710,484
1,894,382
-
0
-
0
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 21 -
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
175,940
175,940
Company pension contributions to defined contribution schemes
32,300
13,033
208,240
188,973
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
19,038
18,382
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
53,951
66,398
Adjustments in respect of prior periods
-
0
(1,870)
Total current tax
53,951
64,528
Deferred tax
Origination and reversal of timing differences
(2,760)
(699)
Total tax charge
51,191
63,829

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

2025
2024
£
£
(Loss)/profit before taxation
(58,351)
171,669
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(14,588)
42,917
Tax effect of expenses that are not deductible in determining taxable profit
63,029
47,479
Permanent capital allowances in excess of depreciation
2,750
-
0
Research and development tax credit
-
0
(25,240)
Other permanent differences
-
0
543
Under/(over) provided in prior years
-
0
(1,870)
Taxation charge
51,191
63,829
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 22 -
10
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 November 2024 and 31 October 2025
1,785,457
Amortisation and impairment
At 1 November 2024
387,379
Amortisation charged for the year
178,546
At 31 October 2025
565,925
Carrying amount
At 31 October 2025
1,219,532
At 31 October 2024
1,398,078
The company had no intangible fixed assets at 31 October 2025 or 31 October 2024.
11
Tangible fixed assets
Group
Plant and equipment
£
Cost
At 1 November 2024
61,820
Additions
1,823
At 31 October 2025
63,643
Depreciation and impairment
At 1 November 2024
40,220
Depreciation charged in the year
12,824
At 31 October 2025
53,044
Carrying amount
At 31 October 2025
10,599
At 31 October 2024
21,600
The company had no tangible fixed assets at 31 October 2025 or 31 October 2024.
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 23 -
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
3,000,000
3,000,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 November 2024 and 31 October 2025
3,000,000
Carrying amount
At 31 October 2025
3,000,000
At 31 October 2024
3,000,000
13
Subsidiaries

Details of the company's subsidiaries at 31 October 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Deploy (UK) Holdings Limited
England & Wales
Ordinary
100.00
-
Deploy Projects Limited
England & Wales
Ordinary
0
100.00
Deploy Limited
England & Wales
Ordinary
0
100.00
Deploy Consulting Inc
Canada
Ordinary
0
100.00
14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,368,320
2,245,377
-
0
-
0
Other debtors
2,096
7,113
100
100
Prepayments and accrued income
1,392,784
1,476,946
-
0
-
0
3,763,200
3,729,436
100
100
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 24 -
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
17
52,074
56,257
-
0
-
0
Trade creditors
1,087,465
1,261,941
-
0
-
0
Amounts owed to group undertakings
-
0
-
1,666,957
1,364,712
Corporation tax payable
53,951
66,398
-
0
-
0
Other taxation and social security
168,898
403,860
-
0
-
0
Other creditors
2,575,657
1,932,461
743,810
697,850
Accruals and deferred income
520,170
564,783
-
0
-
0
4,458,215
4,285,700
2,410,767
2,062,562

I ncluded in other creditors is a balance of £1,506,350 (2024: £974,513) due as a finance facility which is secured by a debenture over the assets of the company and a cross guarantee between the company and Deploy Ltd, Deploy Projects Limited and Deploy (UK) Holdings Limited.

Also included in other creditors is a deferred consideration balance of £337,500 (2024: £287,500) is secured over the share capital of the immediate subsidiary company.

16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
41,996
101,417
-
0
-
0
Other creditors
604,650
942,150
604,650
942,150
646,646
1,043,567
604,650
942,150

Included in other creditors is a deferred consideration balance of £604,650 (2024: £942,150) is secured over the share capital of the immediate subsidiary company.

17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
94,070
157,674
-
0
-
0
Payable within one year
52,074
56,257
-
0
-
0
Payable after one year
41,996
101,417
-
0
-
0
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
17
Loans and overdrafts
(Continued)
- 25 -

Interest and arrangement fees for a £50,000 loan advanced in 2021 were paid for by the government for the first 12 months, with an annual interest rate of 2.5% payable by the group thereafter. The loan will be fully repaid by March 2026.

A loan of £250,000 was advanced in 2021 on which interest is charged at a fixed rate of 11% per annum. The loan will be fully repaid by July 2027.

18
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
2,640
5,400
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 November 2024
5,400
-
Credit to profit or loss
(2,760)
-
Liability at 31 October 2025
2,640
-

T he deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
69,996
50,665

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

20
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 26 -
21
Reserves
Retained earnings

The retained earnings comprise of the cumulative profits and losses recognised in the Statement of Comphrensive Income.

22
Operating lease commitments
As lessee

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

Group
Company
2025
2024
2025
2024
£
£
£
£
Within 1 year
28,500
120,845
-
-
28,500
120,845
-
-
23
Related party transactions

The company has taken the advantage of the exemption available under FRS102, whereby it has not disclosed transactions and balances with its wholly owned group companies.

During the year, the group incurred training costs of £160,179 (2024: £231,363) from a company owned by the director's wife. At the year-end, an amount of £16,329 (2024: £29,097) was outstanding and shown within trade creditors.

The total remuneration for key management personnel for the year totaled £375,511 (2024: £363,994).

24
Controlling party

The ultimate controlling party is P Smith.

DEPLOY RECRUITMENT GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 27 -
25
Cash generated from group operations
2025
2024
£
£
(Loss)/profit after taxation
(109,542)
107,840
Adjustments for:
Taxation charged
51,191
63,829
Finance costs
19,038
18,382
Amortisation and impairment of intangible assets
178,546
178,546
Depreciation and impairment of tangible fixed assets
12,824
14,519
Movements in working capital:
(Increase)/decrease in debtors
(33,764)
1,279,212
Increase/(decrease) in creditors
139,145
(1,254,715)
Cash generated from operations
257,438
407,613
26
Analysis of changes in net funds - group
1 November 2024
Cash flows
31 October 2025
£
£
£
Cash at bank and in hand
529,449
(180,925)
348,524
Borrowings excluding overdrafts
(157,674)
63,604
(94,070)
371,775
(117,321)
254,454
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