REGISTERED NUMBER: 04098721 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30th September 2025

for

Prestige Recruitment Specialists Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

10

Report of the Independent Auditors

12

Statement of Comprehensive Income

16

Balance Sheet

17

Statement of Changes in Equity

18

Cash Flow Statement

19

Notes to the Cash Flow Statement

20

Notes to the Financial Statements

21

DIRECTORS:

N D Stabler

A M Barnes

Ms D L Benson

REGISTERED OFFICE:

Prestige House

12 Bowlalley Lane

Hull

HU1 1XR

REGISTERED NUMBER:

04098721 (England and Wales)

AUDITORS:

Sadofskys

Statutory Auditors

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

National Westminster Bank plc

34 King Edward Street

Hull

East Yorkshire

HU1 3SS

The directors present their strategic report for the year ended 30th September 2025.

Business Model

Prestige Holdings Yorkshire Limited is the holding company of Prestige Recruitment Specialists Limited. The principal activity of the Group is the provision of recruitment services, supplying both temporary and permanent personnel across a range of sectors and geographic locations.

Prestige Recruitment Specialists Limited is an award-winning recruitment agency with 33 years of trading history across Yorkshire, Lincolnshire, and East Anglia, supported by on-site operations at multiple client locations across the UK. The Group's operating model is designed to deliver tailored workforce solutions by working in close partnership with clients, enabling a detailed understanding of operational requirements and supporting long-term client relationships.

The Group operates across a diversified portfolio of sectors, which reduces exposure to cyclical downturns within any single industry and supports the resilience and sustainability of the business model. This diversification enables the Group to adapt to changing market conditions while continuing to deliver consistent service levels and financial performance.

Customer retention is a key driver of long-term value creation. The Group's consultative approach, combined with a focus on service quality and responsiveness, supports repeat business and strong client relationships. The Group employs a diverse and multilingual workforce, enabling access to a broad candidate pool and supporting effective matching of candidates' skills, experience, and career aspirations to client requirements.

The Group serves clients across a range of sectors including, but not limited to, Food Manufacturing and Processing, Business Support, Transport and Warehousing, Construction and Engineering, Industrial and Manufacturing, Public Sector, Healthcare, and Hospitality and Catering. This balanced sector exposure supports sustainable growth while managing operational and market risk.

Business Strategy and Objectives

The Company's strategy is to operate a sustainable and adaptable business model that responds appropriately to changes in market conditions, while pursuing growth opportunities that are consistent with its risk appetite. The Directors believe that the Company's long-term objectives will be achieved through the implementation of the following strategic priorities:

- To expand the Company's physical presence within the local region by establishing new branches in selected locations, subject to ongoing performance and market assessment

- To maintain and develop relationships with new and existing clients, with a focus on client retention through the effective and consistent delivery of services

- To increase brand awareness and enhance the Company's digital and online presence through continued investment in marketing and digital platforms

- To improve operational efficiency and internal processes, including ongoing investment in CRM systems, with the objective of reducing waste and supporting scalable operations

- To develop the Company's recruitment processes and reach by adopting alternative methods such as video conferencing, AI and online registration, reducing reliance on physical location

- To protect and strengthen operating margins in response to changes in demand and prevailing economic conditions.

- To review and implement competitive employee benefit packages aimed at supporting staff retention and continuity of operations.

Business Environment

The industry environment remained challenging throughout the year, reflecting a combination of ongoing skills shortages following Brexit, increases in the National Living Wage and Employer National Insurances, the continued cost-of-living pressures, and elevated interest rates arising from sustained inflation in the UK. These factors, together with a changing political landscape, have contributed to a significant imbalance between labour demand and the availability of suitable candidates.

In 2025, the UK recruitment industry operated in a subdued hiring environment. Business confidence and employer hiring intentions declined, diminishing demand for permanent placements, shifting market preference towards flexible and fixed-term roles. Increased employer costs influenced hiring trends with preference to avoid commitments where possible and tightened job vacancies across industries.

Technological advances in AI enhanced productivity but required investment in digital capabilities. Regulatory changes, particularly strengthened employment rights, influenced operational compliance and cost structures. Despite these challenges, growth in specialised sectors such as technology and healthcare presented strategic opportunities that supported our service diversification and client engagement.

Notwithstanding these conditions, the Company continues to be well positioned. The breadth of its client base across multiple industry sectors provides a degree of diversification, which helps to mitigate exposure to adverse conditions within any single market.

REVIEW OF BUSINESS

2025

2024

2023

2022

Turnover

£36,373,927

£36,159,356

£31,701,605

£31,205,435

Turnover growth %

1.01%

14.06%

1.60%

(17.67%)

Gross profit

£2,684,933

£2,484,056

£2,566,401

£2,480,935

Goss profit margin %

7.38%

6.87%

8.10%

7.95%

The financial information presented relates to 52-week periods ending 30 September in each respective year. Comparative information includes earlier periods to provide context for the ongoing impact of COVID-19 and Brexit, which continued to influence performance during the 2022 financial year.

During the year ended 30 September 2025, the Company operated in a challenging macroeconomic environment characterised by persistent inflationary pressures and increased employer costs. These conditions have continued to affect consumer confidence across all sectors of the economy, including recruitment. As a result, market activity remained subdued, with a reduction in both the number of temporary workers actively seeking roles and the volume of opportunities available.

Notwithstanding these conditions, the Company achieved turnover of £36.3 million representing an increase of 1.01% compared with the prior year. This growth was primarily driven by statutory increases in the National Minimum Wage (NMW) despite a reduction in total hours invoiced over the course of the year. The performance reflects the resilience of the Company's diversified operating model and its ability to service demand across multiple sectors, supported by a flexible and adaptable workforce.

Competitive pressures within the market remained elevated throughout the year, which constrained margin expansion. Increases in NMW have continued to reduce gross margin percentages relative to standard charge rates, resulting in a slight decline in gross profit margin despite the growth in revenue.

Net profit margin decreased marginally compared with the prior year, reflecting inflation-linked increases in operating costs across the business.

Overall, the Company ended the 2025 financial year in a strong financial position. The diversified nature of its operations, combined with prudent cost management and continued demand across core sectors, provides a stable platform from which to respond to ongoing economic uncertainty and pursue sustainable future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

In accordance with the requirements of the Companies Act 2006, the Directors have identified the principal risks and uncertainties facing the Company which could materially affect its business model, future performance, position or prospects. The Directors are responsible for the Company’s risk management framework and have established processes to identify, assess and monitor risks on an ongoing basis. These processes are designed to support the achievement of the Company’s strategic objectives while maintaining appropriate internal controls.

The principal risks and uncertainties identified by the Directors are set out below, together with the mitigating actions in place.

Competitive and Market Risk

The Company operates in a highly competitive market and is exposed to pricing pressures, changing client requirements and increased competition from existing and new market entrants due to low barriers to entry. Failure to remain competitive could adversely impact revenues and margins.

The Company mitigates this risk through its service-led business model, strong client relationships and focus on quality and reliability. Pricing strategies are reviewed regularly to ensure they remain competitive while reflecting changes in underlying cost structures and market conditions.

Cost and Pricing Risk

The Company is exposed to cost increases arising primarily from legislative and political changes, including increases in the National Minimum Wage and employer statutory contributions. Such increases may impact profitability if not recovered through pricing adjustments.

The Company actively monitors legislative developments and engages with clients in advance of known changes, enabling cost increases to be reflected in charge rates where appropriate. This approach helps to mitigate margin pressure and reduces exposure to unexpected cost fluctuations.

Regulatory and Compliance Risk

The Company operates in a regulated environment and is subject to employment, tax and industry-specific legislation. Non-compliance could result in financial penalties, reputational damage or restrictions on trading.

The Company works closely with relevant industry bodies and advisors to ensure compliance with applicable laws and regulations. Ongoing training, attendance at industry events and regular internal reviews support the maintenance of effective compliance controls.

Credit Risk

The Company is exposed to the risk of financial loss arising from customer default or delayed payment. This risk could adversely affect cash flow and working capital.

Credit risk is managed through regular credit assessments of both new and existing customers using industry-recognised credit checking services. Credit limits are established and monitored, with appropriate Terms and Conditions in place. The Company also utilises a credit insurance facility to further mitigate exposure. Active debtor management, including regular communication with customers and timely collection of receivables, supports the reduction of this risk.

Liquidity Risk

Liquidity risk arises from the possibility that the Company may not have sufficient funds to meet its obligations as they fall due.

The Company manages this risk through careful cash flow forecasting and the use of an invoice discounting facility, which provides flexibility in managing working capital requirements. In addition, the Company has accumulated cash reserves over several years, providing resilience against adverse cash flow movements.

Foreign Exchange Risk

The Company does not currently have material exposure to foreign currency risk, as it does not transact directly with overseas customers. Where overseas transactions may occur, contracts are denominated in sterling, transferring foreign exchange risk to the counterparty.

Accordingly, foreign exchange risk is not considered to be a principal risk, although the broader economic impact of currency movements continues to be monitored.

Interest Rate Risk

The Company has limited exposure to interest rate risk due to its low level of borrowing, primarily associated with the invoice discounting facility, which carries a semi-variable rate of interest. While interest rate fluctuations could impact financing costs, this risk is not considered material at present. The Directors continue to monitor interest rate movements and their potential impact on the business.

Cyber Security and Data Protection Risk

Due to the nature of its operations, the Company processes and stores significant volumes of personal data. A cyber security breach or data loss could result in regulatory penalties, reputational damage and operational disruption.

The Company mitigates this risk through investment in secure IT systems, maintenance of recognised accreditations such as Cyber Essentials, regular system updates and staff training. Independent testing, including ethical hacking exercises, have been undertaken to identify and address vulnerabilities. Data retention policies are reviewed regularly, and system backups are performed frequently to support business continuity.

Economic Uncertainty and Labour Market Risk

Ongoing economic uncertainty, including the long-term effects of the United Kingdom’s withdrawal from the European Union and inflationary pressures, continues to impact business confidence and labour market conditions. Skills shortages along with increased operating and employment costs may affect the Company’s ability to meet client demand and maintain margins.

The Directors continue to anticipate that economic uncertainty may increase demand for temporary labour as clients seek to maintain operational flexibility, which could present opportunities for the business.

Statement on Principal Risks

The Directors consider the risks outlined above to represent the principal risks and uncertainties facing the Company at the reporting date. The risk management framework in place is designed to identify and manage these risks effectively; however, no system can eliminate all risk, and future outcomes may differ from expectations.

SECTION 172(1) STATEMENT

The Directors act in a manner they consider most likely to promote the success of the Company for the benefit of its members, having regard to stakeholders including employees, clients, suppliers and the wider community.

Stakeholder considerations are integrated into strategic decision-making processes, balancing sustainable growth objectives with operational capability and long-term resilience.

Consequences of long-term decisions

The Directors are mindful of the long-term consequences of the strategic decisions they make and carefully consider the potential impact on the business, its employees, and other stakeholders. During the year, the Directors reviewed and updated the Company's three-year strategic plan, alongside its core vision, mission, and values. In undertaking this review, the Directors sought to balance the objective of delivering sustainable growth for Prestige Recruitment Specialists Limited with the Company's existing capabilities, resources, and infrastructure.

Employees

Prestige Recruitment Specialists Limited recognises that its employees are its greatest asset and are fundamental to the Company's continued growth and success. The business is driven by the passion, attitude, and commitment of its workforce, and this is reflected in its competitive rewards and remuneration packages. The Company also supports apprenticeships, employee development programmes, and clear career progression opportunities.

During the year, further investment was made in online training and development resources to reinforce the Company's ongoing commitment to skills development and employee engagement.

Suppliers and Partners

The Company recognises the important role played by its suppliers and partners, who are a crucial part of its operational success. The Directors place significant emphasis on building and maintaining strong, collaborative relationships to strengthen the Company's supply chain and create shared value for all stakeholders.

Customers

Customer satisfaction and loyalty are recognised as critical success factors and are central to the Company's long-term performance. Prestige Recruitment Specialists Limited is committed to delivering excellent customer service and works closely with its clients to provide tailored recruitment solutions that meet their specific needs.

The Company operates against agreed key performance indicators with its clients to ensure consistently high standards are maintained, supporting long-term relationships and the continued success of the business.

Communities

The Company recognises its responsibility to the local community and actively engages with neighbouring businesses, local charities, and the wider community. This commitment was formally recognised during the year when Prestige Recruitment Specialists Limited was awarded the Business in the Community Award at the Hull Business Awards.

The Company continues to explore further opportunities to improve energy efficiency and supports its longer-term objective of adopting the ISO 14001 Environmental Management Systems framework.

STREAMLINED ENERGY AND CARBON REPORTING

Environmental Governance

Prestige Recruitment Specialists Limited recognises that responsible environmental management forms part of its wider governance framework and long-term strategic resilience. The Directors acknowledge the importance of monitoring and managing energy consumption and greenhouse gas emissions in a proportionate manner consistent with the scale and operational profile of the business.

During the year ended 30 September 2025, the Company exceeded the medium-sized company thresholds for the second consecutive year and is therefore classified as a Large Company under the Companies Act 2006. Accordingly, the Company is required to report its UK energy consumption and associated greenhouse gas emissions in accordance with the Streamlined Energy and Carbon Reporting (SECR) regulations.

UK Energy Consumption (52 weeks ended 30 September 2025)

The Company's total UK energy consumption for the reporting period was:

Energy Type 2025 (kWh)

2025 (kWh)

Electricity

24,545

Gas

26,277

Transport Fuel (Diesel)

117,122

Total Energy Consumption

167,944 kWh

Energy consumption relates to the Company's two operational office premises in Hull and fuel used in company-operated vehicles.

Transport fuel represents the most significant proportion of total energy use, reflecting the operational requirements of servicing clients across multiple locations.

Greenhouse Gas Emissions

The Company's greenhouse gas emissions for the year were:

Emissions Source

2025 (tCO2e)

Scope 1 - Gas combustion

4.8

Scope 1 - Transport fuel

29.8

Scope 2 - Purchased electricity

4.7

Total Gross Emissions

39.3 tCO2e

Scope 1 emissions arise from direct fuel combustion (gas usage within office premises and diesel consumed in company-operated vehicles).

Scope 2 emissions arise from purchased electricity consumed within UK operations.

The Company is not currently required to disclose Scope 3 emissions under SECR regulations.

Emissions Intensity

To provide context to emissions performance, the Company has adopted turnover as its primary intensity metric, as this most accurately reflects operational scale.

Turnover for the year ended 30 September 2025 was £36,373,927.

The resulting emissions intensity ratio is:

1.08 tonnes CO2e per £1 million turnover.

This establishes a baseline against which future performance can be assessed.

Methodology

Emissions have been calculated in accordance with:

- The UK Government Environmental Reporting Guidelines; and

- The 2025 UK Government GHG Conversion Factors for Company Reporting (DESNZ/DEFRA).

Gas consumption (m³) has been converted to kWh using standard UK conversion factors.

Diesel usage includes both direct fuel purchases and reimbursed business mileage, converted to litres and then to tonnes of CO?e using UK Government emission factors.

Electricity emissions are reported using the location-based methodology.

The reporting boundary includes all UK operations under the Company's operational control for the 52-week financial period ended 30 September 2025.

Energy Efficiency and Environmental Management

The Company remains committed to responsible energy usage and continuous operational improvement. During the year, the Company:

- Continued monitoring fleet fuel efficiency and mileage patterns;

- Maintained oversight of electricity and gas consumption across its Hull office locations;

- Replaced office lighting with energy-efficient LED fittings;

- Promoted responsible energy behaviours across the workforce;

- Increased use of videoconferencing technology to reduce unnecessary travel.

Transport fuel represents the largest component of emissions. The Company has therefore committed to transitioning fleet vehicles to hybrid models, at a minimum, at the end of each lease cycle where commercially viable.

The Company has also commenced alignment with the ISO 14001 Environmental Management Systems framework, embedding environmental considerations within operational decision-making processes.

Climate Ambition and Future Focus

The Directors recognise the UK Government's commitment to achieving Net Zero greenhouse gas emissions by 2050 and acknowledge the increasing importance of climate-related considerations within the wider business environment.

While the Company is not currently subject to mandatory climate-related financial disclosure requirements, it recognises its responsibility to operate efficiently and to reduce environmental impact where practicable and commercially appropriate.

The emissions data reported for 2025 establishes a baseline against which future performance can be monitored. The Directors intend to continue reviewing energy usage, fleet efficiency and operational practices to identify proportionate opportunities to reduce emissions over time.

The Company's approach to carbon reduction will remain aligned with its scale, operational model and strategic objectives, ensuring that any initiatives undertaken are measurable, responsible and in the long-term interests of stakeholders.

FUTURE DEVELOPMENTS

The directors have prepared cash flow forecasts and projections for a period of at least twelve months from the date of approval of these financial statements. Based on these forecasts and having considered the principal risks and uncertainties facing the business, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

The company does not anticipate any significant changes to its principal activities or core business model during the forthcoming financial period.

The UK economic environment continues to be characterised by uncertainty arising from a combination of factors such as ongoing inflationary pressures, increased employer costs and skills shortages within the labour market. These conditions may continue to impact client confidence and levels of demand, particularly in relation to investment in headcount. The labour market remains constrained following the end of the EU transition period, which has and may continue to present ongoing recruitment challenges.

Notwithstanding these uncertainties, the company is expected to remain cash generative during the forecast period. The directors have implemented appropriate measures to manage liquidity and mitigate the potential impact of adverse trading conditions. Through ongoing monitoring, scenario planning and financial review, the company is well positioned to respond to changes in market conditions while continuing to operate in line with its established strategy and objectives.

Expansion into other geographical areas to enhance and increase its client portfolio is planned, with internal investment allocated to fund and help support this growth.

ON BEHALF OF THE BOARD:

N D Stabler - Director

25th June 2026

The directors present their report with the financial statements of the company for the year ended 30th September 2025.

DIVIDENDS

An interim dividend of £5200 per share was paid on 30th September 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30th September 2025 will be £ 520,000 .

FUTURE DEVELOPMENTS

These have been provided in the company's strategic report.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st October 2024 to the date of this report.

The directors shown below were in office at 30th September 2025 but did not hold any interest in the Ordinary shares of £1 each at 1st October 2024 or 30th September 2025.

N D Stabler

A M Barnes

Ms D L Benson

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Revenue maintenance

The company actively markets its business to focus on building and maintaining effective and profitable relationships with potential businesses in need of their services.

Risks and uncertainties

These details have been provided in the company's strategic report.

EMPLOYMENT OF DISABLED PERSONS

Prestige Recruitment is committed to creating an inclusive workplace where all employees are treated fairly and with respect. We are an equal opportunities employer and actively seek to ensure that disabled applicants and employees are not disadvantaged at any stage of employment.

Our recruitment, selection, training, and promotion processes are based on merit, skills, and experience. Where appropriate, reasonable adjustments are made to support disabled candidates throughout the recruitment process and to enable employees to perform their roles effectively.

Where an employee becomes disabled, or develops a long-term health condition during their employment, the Company works closely with the individual to understand their needs and implement appropriate adjustments wherever reasonably practicable. This may include modifications to working arrangements, equipment, workplace practices, or additional support to help the employee remain in, and develop within, their role.

Prestige Recruitment is committed to providing equal access to training, career development, and promotion opportunities for all employees. We seek to foster a culture of inclusion and awareness, ensuring that employees are supported to achieve their full potential regardless of disability or health condition.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

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, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

N D Stabler - Director

25th June 2026

Opinion

We have audited the financial statements of Prestige Recruitment Specialists Limited (the 'company') for the year ended 30th September 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 30th September 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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

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

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

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

Other information

The 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, 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.

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- 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;

- we identified the laws and regulations applicable to the company through discussions with the directors and other management, and from our commercial knowledge and experience of the recruitment industry.

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, UK tax legislation, and data protection, anti-bribery, employment, environmental, health and safety legislation along with industry specific regulations and requirements.

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

-We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

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

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our 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.

Alan Brocklehurst (Senior Statutory Auditor)

for and on behalf of Sadofskys

Statutory Auditors

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

25th June 2026

TURNOVER

3

36,373,927

36,159,356

Cost of sales

33,688,994

33,675,300

GROSS PROFIT

2,684,933

2,484,056

Administrative expenses

1,813,498

1,592,582

OPERATING PROFIT

5

871,435

891,474

Interest receivable and similar income

6

3,642

10,542

PROFIT BEFORE TAXATION

875,077

902,016

Tax on profit

7

281,269

225,503

PROFIT FOR THE FINANCIAL YEAR

593,808

676,513

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

593,808

676,513

FIXED ASSETS

Tangible assets

9

312,958

415,983

CURRENT ASSETS

Debtors

10

7,076,931

7,571,126

Cash at bank and in hand

203,113

409,728

7,280,044

7,980,854

CREDITORS

Amounts falling due within one year

11

3,416,870

4,286,285

NET CURRENT ASSETS

3,863,174

3,694,569

TOTAL ASSETS LESS CURRENT LIABILITIES

4,176,132

4,110,552

PROVISIONS FOR LIABILITIES

14

51,398

59,626

NET ASSETS

4,124,734

4,050,926

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

4,124,634

4,050,826

SHAREHOLDERS' FUNDS

4,124,734

4,050,926

The financial statements were approved by the Board of Directors and authorised for issue on 25th June 2026 and were signed on its behalf by:

N D Stabler - Director

A M Barnes - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st October 2023

100

3,794,313

3,794,413

Changes in equity

Dividends

-

(420,000

)

(420,000

)

Total comprehensive income

-

676,513

676,513

Balance at 30th September 2024

100

4,050,826

4,050,926

Changes in equity

Dividends

-

(520,000

)

(520,000

)

Total comprehensive income

-

593,808

593,808

Balance at 30th September 2025

100

4,124,634

4,124,734

Cash flows from operating activities

Cash generated from operations

1

509,779

409,577

Tax paid

(189,813

)

(167,490

)

Net cash from operating activities

319,966

242,087

Cash flows from investing activities

Purchase of tangible fixed assets

(64,059

)

(196,780

)

Sale of tangible fixed assets

53,836

4,000

Interest received

3,642

10,542

Net cash from investing activities

(6,581

)

(182,238

)

Cash flows from financing activities

Equity dividends paid

(520,000

)

(420,000

)

Net cash from financing activities

(520,000

)

(420,000

)

Decrease in cash and cash equivalents

(206,615

)

(360,151

)

Cash and cash equivalents at beginning of year

2

409,728

769,879

Cash and cash equivalents at end of year

2

203,113

409,728

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

875,077

902,016

Depreciation charges

47,084

60,919

Loss/(profit) on disposal of fixed assets

66,164

(764

)

Finance income

(3,642

)

(10,542

)

984,683

951,629

Decrease/(increase) in trade and other debtors

494,195

(888,749

)

(Decrease)/increase in trade and other creditors

(969,099

)

346,697

Cash generated from operations

509,779

409,577

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th September 2025

30/9/25

1/10/24

£

£

Cash and cash equivalents

203,113

409,728

Year ended 30th September 2024

30/9/24

1/10/23

£

£

Cash and cash equivalents

409,728

769,879

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/10/24

Cash flow

At 30/9/25

£

£

£

Net cash

Cash at bank and in hand

409,728

(206,615

)

203,113

409,728

(206,615

)

203,113

Total

409,728

(206,615

)

203,113

1.	STATUTORY INFORMATION

Prestige Recruitment Specialists 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. Estimates and judgements are continuously evaluated and are based on historical experience and other factors, such as including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustments to the carrying value of the assets and liabilities within the next financial year are as follows:

Useful life and residual values

Estimations in residual values and useful lives of tangible and intangible assets are assessed annually. Judgement has been made in estimating the useful lives of the asset categories aligned to the company's depreciation and write-off policies.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitute a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is that the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period of objective evidence of impairment. If such evidence is identified, an impairment loss is recongised in the statement of comprehensive income.

For financial assets measured at amortised cost, the impairment is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable rate the currently effective rate under the contract is used.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.