REGISTERED NUMBER: 09424980 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

Tria Recruitment Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

D Kirkpatrick

Mrs H Kirkpatrick

Mrs L K Webb

REGISTERED OFFICE:

14th Floor

Beacon Tower

Colston Street

Bristol

BRISTOL

BS1 4XE

REGISTERED NUMBER:

09424980 (England and Wales)

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The company's key financial and other performance indicators during the year were as follows:

2025

2024

Change

£'000

£'000

%

Operating profit

1,554

1,263

23.1

Current liabilities as a % of current assets

60.9%

62.5%

(2.4)

Average number of employees

37

41

(9.8)

The company's turnover grew by 3.8% from £30.0m in 2024 to £31.2m.

Gross margin was up from 12.8% in 2024 to 13.8% in 2025 due to higher margin contractors in some key client relationships. Overall contract revenue was up by 2.4%, an increase of £686k on the previous year.

Permanent revenue was up by 23.9%, an increase of £427k from 2024, which is attributable to improved market conditions.

There was a small increase in net assets of £259k from £2.68m in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is exposed to the following risks and uncertainties and mitigates them as follows:

Regulatory risk

The company monitors changes in the regulatory environment relevant to our industry, for example JSL Legislation, and develops strategies to respond.

Credit risk

The company's principal credit risk arises from trade debtors, there is no significant concentration of credit risk, with exposure spread across a large number of customers.

Interest rate risk

The company is exposed to potential interest rate increases relating to the invoice discounting facility and continues to mitigate by reducing balances in the facility.

ON BEHALF OF THE BOARD:

Mrs H Kirkpatrick - Director

26 June 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of tech recruitment services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2025 will be £ 828,992 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

D Kirkpatrick

Mrs H Kirkpatrick

Mrs L K Webb

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;

-	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.

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, Sumer Auditco Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs H Kirkpatrick - Director

26 June 2026

Opinion

We have audited the financial statements of Tria Recruitment Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other 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 31 December 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 set out on page three, 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:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

-

Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

-

Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;

-

Reviewing the Company's legal costs to check for non-compliance with laws and regulations and fraud;

-

Reviewing Board of Directors minutes;

-

Review of tax compliance with the involvement of our tax specialists in the audit;

-

Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of expenses;

-

Testing transactions entered into outside of the normal course of the Company's business; and

-

Identifying and testing journal entries.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through 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.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditors

Hermes House

Fire Fly Avenue

Swindon

Wiltshire

SN2 2GA

30 June 2026

TURNOVER

4

31,178,166

30,048,652

Cost of sales

26,878,340

26,200,740

GROSS PROFIT

4,299,826

3,847,912

Administrative expenses

2,745,082

2,585,013

OPERATING PROFIT

6

1,554,744

1,262,899

Interest receivable and similar income

24,978

12,505

1,579,722

1,275,404

Interest payable and similar expenses

7

149,723

123,598

PROFIT BEFORE TAXATION

1,429,999

1,151,806

Tax on profit

8

360,782

300,510

PROFIT FOR THE FINANCIAL YEAR

1,069,217

851,296

PROFIT FOR THE YEAR

1,069,217

851,296

OTHER COMPREHENSIVE INCOME

Share option scheme movement

18,425

18,425

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

18,425

18,425

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,087,642

869,721

FIXED ASSETS

Tangible assets

10

104,249

124,439

CURRENT ASSETS

Debtors

11

6,802,462

6,650,889

Cash at bank

491,147

211,615

7,293,609

6,862,504

CREDITORS

Amounts falling due within one year

12

4,444,090

4,288,566

NET CURRENT ASSETS

2,849,519

2,573,938

TOTAL ASSETS LESS CURRENT LIABILITIES

2,953,768

2,698,377

PROVISIONS FOR LIABILITIES

16

10,035

13,294

NET ASSETS

2,943,733

2,685,083

CAPITAL AND RESERVES

Called up share capital

17

1,904

1,904

Capital redemption reserve

18

100

100

Share option scheme reserve

18

55,275

36,850

Retained earnings

18

2,886,454

2,646,229

SHAREHOLDERS' FUNDS

2,943,733

2,685,083

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

Mrs H Kirkpatrick - Director

Share

Called up

Capital

option

share

Retained

redemption

scheme

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

1,904

2,200,933

100

18,425

2,221,362

Changes in equity

Dividends

-

(406,000

)

-

-

(406,000

)

Total comprehensive income

-

851,296

-

18,425

869,721

Balance at 31 December 2024

1,904

2,646,229

100

36,850

2,685,083

Changes in equity

Dividends

-

(828,992

)

-

-

(828,992

)

Total comprehensive income

-

1,069,217

-

18,425

1,087,642

Balance at 31 December 2025

1,904

2,886,454

100

55,275

2,943,733

Cash flows from operating activities

Cash generated from operations

1

1,708,519

1,161,199

Interest paid

(149,723

)

(123,598

)

Tax paid

(427,142

)

(296,067

)

Net cash from operating activities

1,131,654

741,534

Cash flows from investing activities

Purchase of tangible fixed assets

(23,181

)

(654

)

Interest received

24,978

12,505

Net cash from investing activities

1,797

11,851

Cash flows from financing activities

Amount withdrawn by directors

(24,927

)

(362,460

)

Equity dividends paid

(828,992

)

(406,000

)

Net cash from financing activities

(853,919

)

(768,460

)

Increase/(decrease) in cash and cash equivalents

279,532

(15,075

)

Cash and cash equivalents at beginning of year

2

211,615

226,690

Cash and cash equivalents at end of year

2

491,147

211,615

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

2025

2024

£

£

Profit before taxation

1,429,999

1,151,806

Depreciation charges

43,371

55,224

Share based payment transactions

18,425

18,425

Finance costs

149,723

123,598

Finance income

(24,978

)

(12,505

)

1,616,540

1,336,548

Increase in trade and other debtors

(126,646

)

(1,174,675

)

Increase in trade and other creditors

218,625

999,326

Cash generated from operations

1,708,519

1,161,199

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 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

491,147

211,615

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

211,615

226,690

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

211,615

279,532

491,147

211,615

279,532

491,147

Total

211,615

279,532

491,147

1.	STATUTORY INFORMATION

Tria Recruitment 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirement of paragraph 33.7.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of value added taxes and discounts and rebates allowed by the Company.

Rendering of services

Turnover from a contract to provide services is recognised in the year 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 turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting year can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Turnover represents amounts receivable for services net of VAT and trade discounts. Sales income includes turnover earned from the acceptance of candidate or on the performance of services. Turnover is recognised as contract activity progresses to the extent that the company obtains the right to consideration in exchange for its performance under these contracts and so that for incomplete contracts it reflects the partial performance of the contractual obligations. It is measured at the fair value of the right to consideration, by reference to the value of work performed, based on amounts chargeable to customers, excluding VAT.

Turnover earned but not billed to customers is included in accrued income.

Interest income

Interest income is recognised using the effective interest rate method.

Tangible fixed assets

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

Improvements to property

-

over period of lease

Fixtures and fittings

-

20% on straight line basis

Computer equipment

-

33% on straight line basis

Tangible fixed assets are measured using the cost model. These assets 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 from when an asset is bought into use. Repairs and maintenance costs are expensed as incurred.The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Subsequent additions and major components

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Foreign currency transactions and balances

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within finance (expense)/income. All other foreign exchange gains and losses are presented in the profit and loss account within administrative expenses.

Hire purchase and leasing commitments

Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Employee benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

The company operates 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 obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Debtors

Debtors include trade debtors and certain other financial instruments, prepayments, accrued income and deferred tax assets. Prepayments are payments made for goods or services that will be received in the future. These are initially recorded as assets and amortised over time as the benefit of the prepaid expense is realised. Accrued income corresponds to the revenue earned during the period but not yet billed to or collected from the customer.

Creditors

Creditors include trade creditors and certain other short and long-term financial instruments. Payments received on account corresponds to advance payments from customers for goods or services that have not yet been delivered or recognised as revenue.

Finance costs

Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Share-based payments

The company provides share-based payment arrangements to certain employees.

Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

The company has no cash-settled arrangements.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Permanent contracts

2,210,210

1,783,205

Temporary placements

28,950,956

28,265,447

Consultancy

17,000

-

31,178,166

30,048,652

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

30,209,556

29,687,932

Europe

702,893

325,920

United States of America

244,079

34,800

Rest of world

21,638

-

31,178,166

30,048,652

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,540,352

2,227,220

Social security costs

411,095

324,896

Other pension costs

39,115

37,399

2,990,562

2,589,515

The average number of employees during the year was as follows:

2025

2024

Directors

3

3

Sales

31

35

Administration

3

3

37

41