Company registration number 07087040 (England and Wales)
BENNETT HAY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
BENNETT HAY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr A Bennett
Mr J R C Hay
Company number
07087040
Registered office
One Friar Street
Reading
Berkshire
RG1 1DA
Auditor
TC Group
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
BENNETT HAY LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 5
Directors' report
7
Directors' responsibilities statement
6
Independent auditor's report
8 - 11
Statement of comprehensive income
12
Statement of financial position
13
Statement of changes in equity
14
Statement of cash flows
15
Notes to the financial statements
16 - 25
BENNETT HAY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -

The directors present the strategic report for the year ended 31 March 2026.

Fair Review of the Business

The Company continues to provide workplace support services in London and the surrounding area. These services include workplace catering, in house client dining, delivered hospitality, vending, 24/7 mini marts, reception services for landlords and tenants with front of house concierge support and client events.

The Directors are pleased to report that 2025-26 continued to see high levels of long-term renewal on existing contracts and substantial new business gained at the end of the financial year which will contribute a full year value in 2026-27.

Compared to prior year, turnover for 2025-26 is up 27% to £20.9m, gross trading margin is increased by 40% at £3.9m while operating profit up 63% YoY at £1.3 m.

The Company has a well-established management team in place and a strong new business pipeline from which to plan and deliver continued business gains and Company growth.

Description of Principal Risks and Uncertainties

The Company operates internal and periodic processes to measure and highlight all risks. These include annual budgeting, new business price review, labour movement and cost, food inflation and sourcing, cash flow and profit.

Financial Risk Management

Financial risk is managed by operating clear budgets and monthly measurement, reviewing management accounts at leadership team meetings. Cash flow forecasts are updated and reviewed weekly, as the Company funds its operations with no debt and only using working capital and cash generated from day-to-day operations.

New business growth is targeted and assessed on a bid/no bid basis including a review of commercial terms and quantified risk. Most of our new business is cost plus management fee, with a reduced risk profile.

Price Risk

Client budgets and the costs of providing a contracted service including the Company’s profits are reviewed and agreed annually with each client. Our cost base primarily of labour and food and beverage is subject to review and is increased in line with client budgets. Food inflation, is volatile due to global supply issues however the Company engages with principal suppliers quarterly to review performance, measure improvements, and agree pricing.

Credit Risk

The Company assesses individual credit risk scores of all potential new business opportunities that proceed beyond a bid/no bid discussion. The Company operates a credit control process which manages timely payment of all invoices.

Liquidity Risk

Cash flow forecasts are updated and reviewed weekly and late payments are addressed. The Company has a contingency overdraft facility in place with its Bankers but has never used this facility always trading with working capital.

BENNETT HAY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Analysis based on Key Performance Indicators

The performance of the Company is measured using the following financial and non-financial performance indicators.

- Turnover

- Gross Trading Margin

- EBITDA

- New Business Values

- Contract Retention values

- Turnover of staff

BENNETT HAY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
Additional Information and Explanations

Plans For Future Development

Throughout the 202 5-2 6 year under review the following development goals were achieved:

- Achieved B Corp status in March 2026

- Joined the Zero Carbon Forum in October 2025 and have since been actively involved with the member community of fellow hospitality businesses, all committed to reducing our carbon footprint

- Invested in an off-site central production kitchen, enabling a delivered-in-food offer to existing and new clients, to accommodate the ever-increasing demand for a hybrid catering service

- Commissioned a bespoke food waste tracking system and digitised dashboard to monitor reduction targets and to calculate the commercial and environmental impact of food waste at a local level, and to benchmark with the business as a whole.

- Launched our first Annual Safety Summit in collaboration with our food safety advisors to share best practice and ensure continued excellence in this area

- The growth of our central support team with investment in new, specialist roles to add value to the services we provide our clients: Events Manager, Head of Coffee, Head of Food Operations plus the expansion of our marketing team

Future development plans for 202 6-2 7 under our Champions initiative in the four areas of Humankind, Planet Positive, Waste Warriors and Food Heroes are as follows.

- Under the auspices of the Zero Carbon Forum complete a catering wide carbon audit to be reported in the next Bennett Hay Annual Impact Report

- Further focus on governance through ISO accreditation

- Investment in our purchasing function to secure best value on behalf of our clients and mitigate potential risks in the food supply chain caused by geo-politics and climate change

- Further investment in our central culinary team to maintain our reputation for food excellence and to support our growing business

- The introduction of new front of house technology solutions, embracing AI in Point of Sale (POS) systems and further data analysis to inform our offer

- Development of our customer experience colleague development programmes, to reflect the transition from traditional reception desks to community engagement roles

- Using the B Corp standards as our framework for continual improvement to make further strides in being a business that is a force for good.

BENNETT HAY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -

On behalf of the board

Mr J R C Hay
Director
7 July 2026
BENNETT HAY LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -

The directors are responsible for preparing the annual report 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;

- 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.

BENNETT HAY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
The directors present their report and financial statements for the year ended 31 March 2026.
Principal activities
The principal activity of the company continued to be that of workplace support services.
Results and dividends

The results for the year are set out on page 12.

Ordinary dividends were paid amounting to £867,500. The directors do not recommend payment of a final dividend.

Directors

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

Mr A Bennett
Mr J R C Hay
Auditor

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

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr J R C Hay
Director
7 July 2026
BENNETT HAY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BENNETT HAY LIMITED
- 8 -
Opinion

We have audited the financial statements of Bennett Hay Limited (the 'company') for the year ended 31 March 2026 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

BENNETT HAY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BENNETT HAY LIMITED
- 9 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, 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 directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the 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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

BENNETT HAY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BENNETT HAY LIMITED
- 10 -

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities .This description forms part of our auditor’s report.

BENNETT HAY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BENNETT HAY LIMITED
- 11 -

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 an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Keen FCCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
7 July 2026
Office: London
BENNETT HAY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
2026
2025
Notes
£
£
Revenue
2
20,903,681
16,467,434
Cost of sales
(17,002,684)
(13,682,930)
Gross profit
3,900,997
2,784,504
Administrative expenses
(2,588,742)
(1,977,838)
Operating profit
3
1,312,255
806,666
Investment income
6
270
818
Profit before taxation
1,312,525
807,484
Tax on profit
7
(328,256)
(203,918)
Profit for the financial year
984,269
603,566

The income statement has been prepared on the basis that all operations are continuing operations.

BENNETT HAY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2026
31 March 2026
- 13 -
2026
2025
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
9
24,826
6,584
Current assets
Inventories
10
23,694
12,782
Trade and other receivables
11
2,335,960
1,746,088
Cash and cash equivalents
932,755
802,987
3,292,409
2,561,857
Current liabilities
12
(2,801,130)
(2,169,105)
Net current assets
491,279
392,752
Net assets
516,105
399,336
Equity
Called up share capital
15
180
180
Retained earnings
515,925
399,156
Total equity
516,105
399,336

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

The financial statements were approved by the board of directors and authorised for issue on 7 July 2026 and are signed on its behalf by:
Mr J R C Hay
Director
Company registration number 07087040 (England and Wales)
BENNETT HAY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 14 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 April 2024
180
143,090
143,270
Year ended 31 March 2025:
Profit and total comprehensive income
-
603,566
603,566
Dividends
8
-
(347,500)
(347,500)
Balance at 31 March 2025
180
399,156
399,336
Year ended 31 March 2026:
Profit and total comprehensive income
-
984,269
984,269
Dividends
8
-
(867,500)
(867,500)
Balance at 31 March 2026
180
515,925
516,105
BENNETT HAY LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
- 15 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
1,235,247
584,525
Income taxes paid
(203,918)
(139,393)
Net cash inflow from operating activities
1,031,329
445,132
Investing activities
Purchase of property, plant and equipment
(34,331)
(5,812)
Interest received
270
818
Net cash used in investing activities
(34,061)
(4,994)
Financing activities
Dividends paid
(867,500)
(347,500)
Net cash used in financing activities
(867,500)
(347,500)
Net increase in cash and cash equivalents
129,768
92,638
Cash and cash equivalents at beginning of year
802,987
710,349
Cash and cash equivalents at end of year
932,755
802,987
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 16 -
1
Accounting policies
Company information

Bennett Hay Limited is a private company limited by shares incorporated in England and Wales. The registered office is One Friar Street, Reading, Berkshire, RG1 1DA.

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.

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

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised in the period to which they relate.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Plant and machinery
3 years straight line
Computer equipment
3 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.

BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 17 -
1.5
Impairment of non-current 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.

1.6
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 inventories to their present location and condition.

Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

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

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 18 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 19 -
1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.11
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 non-current 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.

1.12
Retirement benefits

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

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Revenue

An analysis of the company's revenue is as follows:

2026
2025
£
£
Revenue analysed by class of business
Workplace support services
20,903,681
16,467,434
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
2
Revenue
(Continued)
- 20 -
2026
2025
£
£
Revenue analysed by geographical market
United Kingdom
20,903,681
16,467,434
2026
2025
£
£
Other revenue
Interest income
270
818
3
Operating profit
2026
2025
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
-
0
-
0
Depreciation of owned property, plant and equipment
16,089
9,558
4
Employees

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

2026
2025
Number
Number
Catering and reception
249
223
Administration & marketing
22
20
Total
271
243
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
4
Employees
(Continued)
- 21 -

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
9,654,218
8,131,308
Social security costs
1,225,094
819,900
Pension costs
181,995
156,039
11,061,307
9,107,247
5
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
97,500
97,500
Company pension contributions to defined contribution schemes
713
1,153
98,213
98,653
6
Investment income
2026
2025
£
£
Interest income
Interest on bank deposits
270
818
2026
2025
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
270
818
7
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
328,256
203,918
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
7
Taxation
(Continued)
- 22 -

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

2026
2025
£
£
Profit before taxation
1,312,525
807,484
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2025: 25.00%)
328,131
201,871
Tax effect of expenses that are not deductible in determining taxable profit
4,686
1,110
Permanent capital allowances in excess of depreciation
(8,583)
(1,453)
Depreciation on assets not qualifying for tax allowances
4,022
2,390
Taxation charge for the year
328,256
203,918
8
Dividends
2026
2025
£
£
Interim paid
867,500
347,500
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 23 -
9
Property, plant and equipment
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 April 2025
108,241
83,942
192,183
Additions
23,606
10,725
34,331
At 31 March 2026
131,847
94,667
226,514
Depreciation and impairment
At 1 April 2025
107,946
77,653
185,599
Depreciation charged in the year
8,122
7,967
16,089
At 31 March 2026
116,068
85,620
201,688
Carrying amount
At 31 March 2026
15,779
9,047
24,826
At 31 March 2025
295
6,289
6,584
10
Inventories
2026
2025
£
£
Finished goods and goods for resale
23,694
12,782
11
Trade and other receivables
2026
2025
Amounts falling due within one year:
£
£
Trade receivables
2,314,608
1,705,014
Unpaid share capital
89
89
Other receivables
17,888
6,900
Prepayments and accrued income
3,375
34,085
2,335,960
1,746,088
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 24 -
12
Current liabilities
2026
2025
Notes
£
£
Trade payables
1,260,010
915,231
Corporation tax
328,256
203,918
Other taxation and social security
897,819
685,027
Deferred income
13
40,875
81,400
Other payables
48,585
46,918
Accruals and deferred income
225,585
236,611
2,801,130
2,169,105
13
Deferred income
2026
2025
£
£
Other deferred income
40,875
81,400
14
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
181,995
156,039

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

15
Share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
A ordinary shares of 1p each
8,000
8,000
80
80
B ordinary shares of 1p each
10,000
10,000
100
100
18,000
18,000
180
180
BENNETT HAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 25 -
16
Operating lease commitments

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

2026
2025
£
£
Within one year
97,750
-
0
17
Cash generated from operations
2026
2025
£
£
Profit for the year after tax
984,269
603,566
Adjustments for:
Taxation charged
328,256
203,918
Investment income
(270)
(818)
Depreciation and impairment of property, plant and equipment
16,089
9,558
Movements in working capital:
(Increase)/decrease in inventories
(10,912)
33,707
Increase in trade and other receivables
(589,872)
(274,427)
Increase/(decrease) in trade and other payables
548,212
(72,379)
(Decrease)/increase in deferred income
(40,525)
81,400
Cash generated from operations
1,235,247
584,525
18
Analysis of changes in net funds
1 April 2025
Cash flows
31 March 2026
£
£
£
Cash at bank and in hand
802,987
129,768
932,755
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