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Company Registration No. 05315604 (England and Wales)
Granite Recruitment Ltd Unaudited accounts for the year ended 31 December 2025
Granite Recruitment Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Granite Recruitment Ltd Company Information for the year ended 31 December 2025
Directors
M A Buchan D H Duguid
Company Number
05315604 (England and Wales)
Registered Office
Beacon Innovation Centre Beacon Park Gorleston-On-Sea Great Yarmouth Norfolk NR31 7RA England
Accountants
Hutcheon Mearns Limited 2 Queens Road Aberdeen AB15 4ZT
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Granite Recruitment Ltd Statement of financial position as at 31 December 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
1,056
4,406
Current assets
Inventories
3,248
3,485
Debtors
5
1,302,014
2,385,892
Cash at bank and in hand
44,507
89,972
1,349,769
2,479,349
Creditors: amounts falling due within one year
6
(793,315)
(1,752,415)
Net current assets
556,454
726,934
Net assets
557,510
731,340
Capital and reserves
Called up share capital
12
12
Revaluation reserve
17,232
17,232
Profit and loss account
540,266
714,096
Shareholders' funds
557,510
731,340
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. 05315604
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Granite Recruitment Ltd Notes to the Accounts for the year ended 31 December 2025
1
Statutory information
Granite Recruitment Ltd is a private company, limited by shares, registered in England and Wales, registration number 05315604. The registered office is Beacon Innovation Centre, Beacon Park, Gorleston-On-Sea, Great Yarmouth, Norfolk, NR31 7RA, England.
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 unless otherwise specified within these accounting policies.
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.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probably that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
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Granite Recruitment Ltd Notes to the Accounts for the year ended 31 December 2025
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 or 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.
Taxation
Tax is recognised in 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
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 reducing balance 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 a following basis:
Fixtures & fittings
3 years Straight Line
Computer equipment
3 years Straight Line
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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Granite Recruitment Ltd Notes to the Accounts for the year ended 31 December 2025
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 bank loans, are measured initially at fair value, net of transaction costs, and are measures 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 banks and other third parties, loans to related parties and investments in ordinary shares.
Distributions to equity holders
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
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 January 2025
2,224
20,685
22,909
At 31 December 2025
2,224
20,685
22,909
Depreciation
At 1 January 2025
2,192
16,311
18,503
Charge for the year
30
3,320
3,350
At 31 December 2025
2,222
19,631
21,853
Net book value
At 31 December 2025
2
1,054
1,056
At 31 December 2024
32
4,374
4,406
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
474,572
1,313,478
Amounts due from group undertakings etc.
748,993
879,937
Accrued income and prepayments
77,799
192,477
Other debtors
650
-
1,302,014
2,385,892
- 7 -
Granite Recruitment Ltd Notes to the Accounts for the year ended 31 December 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
420,136
1,094,666
VAT
95,633
288,625
Trade creditors
13,057
99,580
Amounts owed to group undertakings and other participating interests
172,744
143,965
Taxes and social security
29,978
26,285
Other creditors
11,863
14,523
Accruals
47,324
84,771
Deferred income
2,580
-
793,315
1,752,415
7
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 £9,558 (2024: £11,395). Contributions payable to the fund at the balance sheet date were £10,072 (2024: £3,595).
8
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: (£143,233); (£145,069) Purchases: (£475,474); (£469,615) Net Payments: £491,955; £470,211 Net Loans Advanced: (£45,992); £1,240 Closing Balance: (£172,744); (£143,233) Fellow Subsidiaries (2025; 2024) Opening Balance: £339,562; £166,693 Net Loans Advanced: £169,197; £172,869 Closing Balance: £508,759; £339,562 Associates (2025; 2024) Opening Balance: £539,644; £502,120 Sales: £1,422,534; £2,188,575 Purchases: (£1,057); (£731) Net Receipts: (£1,714,955); (£2,201,716) Net Loans Advanced: (£5,932); £51,396 Closing Balance: £240,234; £539,644
9
Controlling party
The Company's immediate parent company is Granite Group Holdings Limited (formerly known as Recruitment Ventures 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.
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Granite Recruitment Ltd Notes to the Accounts for the year ended 31 December 2025
10
Average number of employees
During the year the average number of employees was 19 (2024: 24).
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