Company registration number 07554319 (England and Wales)
PEDERSEN & PARTNERS CONSULTANCY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
PEDERSEN & PARTNERS CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
PEDERSEN & PARTNERS CONSULTANCY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
3,805
4,605
Current assets
Debtors
6
228,336
428,903
Cash at bank and in hand
100,095
62,730
328,431
491,633
Creditors: amounts falling due within one year
7
(281,133)
(330,880)
Net current assets
47,298
160,753
Total assets less current liabilities
51,103
165,358
Provisions for liabilities
(723)
(875)
Net assets
50,380
164,483
Capital and reserves
Called up share capital
8
50,000
100
Share premium account
78,343
-
0
Profit and loss reserves
(77,963)
164,383
Total equity
50,380
164,483

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 June 2026 and are signed on its behalf by:
Adam Schofield
Director
Company registration number 07554319 (England and Wales)
PEDERSEN & PARTNERS CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
100
-
0
278,864
278,964
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(114,481)
(114,481)
Balance at 31 December 2024
100
-
0
164,383
164,483
Year ended 31 December 2025:
Loss and total comprehensive income
-
-
(242,346)
(242,346)
Issue of share capital
8
49,900
78,343
-
128,243
Balance at 31 December 2025
50,000
78,343
(77,963)
50,380
PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Pedersen & Partners Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor De Burgh House, Market Road, Wickford, Essex, England, SS12 0FD. The address for the principal place of business is 2nd Floor, Berkeley Square House, London W1J 6BD.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The 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.

1.2
Going concern

The director has assessed the entity's ability to continue as a going concern and despite having made losses for the last 3 consecutive years, their opinion is that the company is a going concern.

The business has been restructured and scaled-down in early 2026 with a significant reduction in compensation costs from Q2/26 onwards. The shareholder balance sheet remains strong and is more than capable of providing any required capital or funding support.

1.3
Turnover

Turnover is derived from the company's principal activity from the provision of consultancy services in the field of recruitment and is shown net of VAT and other sales related taxes.

Revenue is recognised upon each stage of completion as set out within the contract with the customer. The first stage is the signature of the contract, the second stage is the agreement of a shortlist of candidates and the third and final stage is the successful recruitment of the candidate.

1.4
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:

Computer equipment
4 years (Straight line)

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

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.6
Financial instruments

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

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

Basic financial assets

Basic financial assets include debtors and cash and bank balances.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash at bank and in hand

Cash at bank and in hand include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Derecognition of financial assets

Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities include creditors. Creditors are not interest bearing and are stated at their nominal value.

PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Equity instruments

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

1.8
Taxation

The tax expense represents the sum of the tax currently payable and the 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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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

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

1.9
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.

1.10
Retirement benefits

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

PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Leases

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.

1.12
Foreign exchange

Functional and Presentation Currency

The company's functional currency in the euro (€), being the currency of the primary economic environment in which it operates. The financial statements are presented in sterling (£).

Transactions and Balances

Transactions in foreign currencies are recorded at the spot exchange rate on the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the closing rate at the reporting date. Exchange differences arising are recognised in profit or loss.

Translation to Presentation Currency (£)

Assets and liabilities are translated into sterling at the closing rate at the reporting date. Income and expenses are translated at exchange rates at the dates of the transactions (or an appropriate average rate where this approximates actual rates).

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Depreciation of computer equipment: The company depreciates computer equipment over an estimated useful life of four years using the straight-line method. This estimate is based on management's judgement of the expected period of economic benefit, considering technological obsolescence and usage patterns. The carrying amount of computer equipment at the reporting date is disclosed in the notes to the financial statements. Changes in the estimated useful life could impact future depreciation charges.

Determination of functional currency: Management has determined that the functional currency of the Company is the euro (€), based on the currency that primarily influences sales prices, costs, and financing activities. This judgement affects the measurement of all transactions and balances in the financial statements.

Use of presentation currency different from functional currency: The financial statements are presented in sterling (£), with exchange differences recognised in other comprehensive income.

Exchange rates used in translation - The company uses:

Closing exchange rates at the reporting date for assets and liabilities
Spot exchange rates for income and expenses when these costs are not in the presentational currency (or an appropriate average rate where this approximates actual rates).

These rates are externally sourced and involve judgement to approximate transaction-date rates.

PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
3
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
4,043
3,850
4
Employees

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

2025
2024
Number
Number
Total
7
9
5
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2025
7,802
Additions
2,615
Disposals
(3,098)
At 31 December 2025
7,319
Depreciation and impairment
At 1 January 2025
3,196
Depreciation charged in the year
1,355
Eliminated in respect of disposals
(1,037)
At 31 December 2025
3,514
Carrying amount
At 31 December 2025
3,805
At 31 December 2024
4,605
PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
216,219
395,939
Corporation tax recoverable
-
0
104
Other debtors
4,896
6,724
Prepayments and accrued income
7,221
26,136
228,336
428,903

7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
752
2,422
Amounts owed to group undertakings
148,471
105,660
Taxation and social security
32,531
79,953
Other creditors
99,379
142,845
281,133
330,880
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50,000
100
50,000
100

During the year, a further 49,900 ordinary shares were allotted with a nominal value of £1 per share, taking the share capital to a total of £50,000.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

The senior statutory auditor was Mr Nigel Morris FCA.
The auditor was Matthew Edwards & Co.
for and on behalf of
Matthew Edwards & Co (Statutory Auditor)
PEDERSEN & PARTNERS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
10
Operating lease commitments
Lessee

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

2025
2024
£
£
26,316
27,945

The above lease commitments relate to a lease agreement for the offices. The lease agreement expire s on 3 1 December 202 6.

11
Related party transactions

Included in amounts owed to group undertakings, is an amount due to Pedersen & Partners Netherlands B.V of €60,000 converted to £52,310 (202 4: €60,000 converted to £49,731). During the year further amounts of €50,000, €50,000 and €50,000 were received on 05/05/2025, 29/05/2025 and 19/06/2025 respectively. On 24/06/2025 an amount of €150,000 was converted to share capital, leaving the balance of €60,000 outstanding. This loan is interest free and repayable on demand.

Included in amounts owed to group undertakings, is an amount due to Pedersen & Partners Netherlands B.V of €35,000 converted to £30,514 (202 4: £nil). This loan is interest free and is repayable on demand if the loan is repaid before 05/11/2026. Interest will be charged at a rate of 3 month Euribor plus 1% thereafter.

Included in management charges, is an amount invoiced from Pedersen & Partners ITP Srl of £235,602 (2024: £150,208) in relation to IT services provided and an amount invoiced from ICS Pedersen and Partners Srl of £6,518 (2024: £60,105) in relation to shared services provided.

The amounts included in amounts owed to group undertakings in respect of the above are, an amount due to Pedersen & Partners ITP Srl of £65,646 (2024: £48,688) and an amount due to ICS Pedersen and Partners Srl of £nil (2024: £7,241).

Included in turnover, is an amount invoiced to ICS Pedersen and Partners Moldova of £nil (2024: £33,550), an amount invoiced to Pedersen & Partners GmbH of £nil (2024: £34,610) and an amount invoiced to Pedersen & Partners ITP SRL of £19,441 (2024: £18,771) in relation to recharges for recruitment fees. The amount outstanding at the year and included in prepayments and accrued income is £nil (2024: £18,771).

12
Immediate and Ultimate Controlling Party

The immediate controlling company is P&P International Holding B.V., a company registered in The Netherlands by virtue of 100% holding of share capital (2024: P&P International Holding B.V., a company registered in The Netherlands by virtue of 100% holding of share capital).

The ultimate parent company is TRP Values B.V., a company registered in The Netherlands. The registered office is Amstel plein 54, 1096 BC Amsterdam (2024: TRP Values B.V.)

TRP Values B.V will prepare consolidated accounts for the year ended 31 December 2025. The consolidated financial statements will be available at the address mentioned above.

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