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Company Registration No. SC714980 (Scotland)
Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Unaudited accounts for the year ended 31 December 2025
Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Company Information for the year ended 31 December 2025
Directors
M A Buchan D H Duguid S K McIntosh
Company Number
SC714980 (Scotland)
Registered Office
Unit 1 Dunnottar House Howe Moss Drive, Dyce Aberdeen AB21 0FN Scotland
Accountants
Hutcheon Mearns Limited 2 Queens Road Aberdeen AB15 4ZT
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Statement of financial position as at 31 December 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
9,438
17,115
Investments
5
850,000
850,000
859,438
867,115
Current assets
Debtors
6
279,307
198,266
Cash at bank and in hand
2,883
4,340
282,190
202,606
Creditors: amounts falling due within one year
7
(90,646)
(74,279)
Net current assets
191,544
128,327
Total assets less current liabilities
1,050,982
995,442
Creditors: amounts falling due after more than one year
8
(402,036)
(338,247)
Net assets
648,946
657,195
Capital and reserves
Called up share capital
303,030
303,030
Share premium
396,970
396,970
Profit and loss account
(51,054)
(42,805)
Shareholders' funds
648,946
657,195
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2026 and were signed on its behalf by
M A Buchan Director Company Registration No. SC714980
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Notes to the Accounts for the year ended 31 December 2025
1
Statutory information
Granite Group Holdings Limited (formerly Recruitment Ventures Limited) is a private company, limited by shares, registered in Scotland, registration number SC714980. The registered office is Unit 1 Dunnottar House, Howe Moss Drive, Dyce, Aberdeen, AB21 0FN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared on a going concern basis under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors, having made due and careful enquiry, are of the opinion that the Company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have adopted the going concern basis of accounting in preparing the annual financial statements.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Pensions
Defined contribution pension plan The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the profit and loss when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Notes to the Accounts for the year ended 31 December 2025
Taxation
Tax is recognised in the profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line basis. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Depreciation is provided on the following basis:
Fixtures & fittings
5 yrs Straight Line
Computer equipment
3 yrs Straight Line
Investments
Investments in shares are included at fair value.
Trade debtors and other receivables
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Trade creditors and other payables
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties, loans from related parties and investments in ordinary shares.
Distributions to shareholders
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Notes to the Accounts for the year ended 31 December 2025
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 January 2025
14,889
7,187
22,076
Additions
617
-
617
Disposals
(1,964)
-
(1,964)
At 31 December 2025
13,542
7,187
20,729
Depreciation
At 1 January 2025
2,633
2,328
4,961
Charge for the year
4,710
2,340
7,050
On disposals
(720)
-
(720)
At 31 December 2025
6,623
4,668
11,291
Net book value
At 31 December 2025
6,919
2,519
9,438
At 31 December 2024
12,256
4,859
17,115
5
Investments
Subsidiary undertakings
£
Valuation at 1 January 2025
850,000
Valuation at 31 December 2025
850,000
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Amounts due from group undertakings etc.
270,386
188,080
Accrued income and prepayments
8,921
7,231
Other debtors
-
2,955
279,307
198,266
7
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
15,770
15,599
Trade creditors
1,423
6,770
Amounts owed to group undertakings and other participating interests
59,392
40,204
Taxes and social security
5,537
5,435
Other creditors
3,350
704
Accruals
5,174
5,567
90,646
74,279
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings and other participating interests
402,036
338,247
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Granite Group Holdings Limited (formerly Recruitment Ventures Limited) Notes to the Accounts for the year ended 31 December 2025
9
Pension commitments
The Company contributed to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,601 (2024: £2,644). Contributions payable to the fund at the balance sheet date were £3,351 (2024: £704).
10
Transactions with related parties
During the Year Ended 31 December 2025, and the comparative Year Ended 31 December 2024 respectively, the Company entered into the following transactions with related parties: Owners Holding a participating Interest (2025; 2024) Opening Balance: (£315,618); (£271,218) Purchases: (£142,508); (£136,935) Net Payments: £123,320; £112,988 Net Loans (Received) / Advanced: (£126,622); (£20,453) Closing Balance: (£461,428); (£315,618) Fellow Subsidiaries (2025;2024) Opening Balance: £93,382; £111,056 Sales: £569,387; £528,315 Net Receipts: (£529,955); (£517,202) Net Loans Received: £40,658; (£28,788) Closing Balance: £173,472; £93,382 Associates (2025;2024) Opening Balance: £31,866; £41,526 Sales: £64,578; £58,700 Net Receipts: £nil; (£68,818) Net Loans Advanced / (Received): £470; £458 Closing Balance: £96,914; £31,866
11
Controlling party
The Company's immediate parent company is I7V Renewables Limited, a company registered in the United Kingdom. The Company's ultimate parent undertaking is Indigo 7 Ventures Limited, a company registered in the United Kingdom. Indigo 7 Ventures Limited is controlled by a number of private individuals, all of whom own less than a 25% shareholding in the company.
12
Average number of employees
During the year the average number of employees was 7 (2024: 6).
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