The directors present the strategic report and financial statements for the year ended 31 December 2025.

Overall, the business remains dynamic and requires agility, innovation and adaptability to remain competitive in the current market. As a business we have effectively responded to the challenges posed and the emerging opportunities to create a thriving environment.

2025 saw a 10% increase in turnover. Permanent placements were up by 83%, this area will remain a focus in 2026. The availability of workers remained strong in 2025 and is forecast to continue in 2026. Overall, there has been a small reduction in gross profit.

Our permanent headcount reduced slightly in 2025 despite the increase in turnover. Advances in recruitment technology, AI and the further development of our CRM has resulted in greater efficiencies, which has improved our productivity per person.

We increased our on-site operations with five major clients, which expanded our geographical footprint and added valuable turnover.

2026 will see a modest increase in turnover, and we are still substantially ahead of pre-pandemic levels. Technological efficiencies and the increased use of AI will result in our headcount remaining stable going forward.

The cost of the various online job boards, which we use to attract staff, has remained flat in 2025 and will remain similar in 2026. We have continued to review all suppliers (and reduced the overall number) and associated costs. Overheads have remained in line with 2024 but savings are anticipated for 2026.

The principal risks and uncertainties affecting the company relate to the general weakness in the economy and this is still affecting our industry. The current global unrest is still causing issues for some clients. There is also industry specific risk in relation to legislative changes affecting employment agencies.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company is exposed to interest rate risk on all of its borrowing facilities in addition to on its floating bank rate deposits.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

The directors consider the successful running of the company in terms of achieving its long-term strategy which centres on building a resilient company that is great to work for and known for the quality of our services. The ongoing success of the company centres around positive and effective dealings with all the stakeholders of the company and the directors were mindful of the long term consequences of key commercial decisions made during the year, and determined that these were in the interests of the company’s owners, employees, agency staff, clients, suppliers and other stakeholders, as they were all aligned with the company’s strategy.

• We have appointed two new directors to the Board and they started their new roles in January 2026. The existing and founding directors' duties and responsibilities have adjusted accordingly.

• Our Compliance Team has been expanded in response to the demands of major clients.

• We have expanded our Regional Management Team.

• Staff training has been focused on up skilling our management team.

The company takes employee involvement very seriously and we ensure that we engage with our staff at all levels on a wide range of matters. The company also regularly engages with its clients and suppliers to maintain these important relationships.

The directors confirm that throughout the year they have acted in the way they consider, in good faith, to be most likely to promote the continued success of the company for the benefit of its members as a whole.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2025.

The principal activity of the company continued to be that of an employment agency.

The results for the year are set out on page 11.

The directors do not recommend payment of a final ordinary dividend on the ordinary 'A' shares and have recommended payment of a final dividend of £12.538 (2024 £9.1636) per ordinary 'B' share and £12.538 (2024 £9.1636) per ordinary 'C' share.

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

The auditor, Humphrey & Co Audit Services Ltd, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The company has consumed more than 40,000 kWh of energy in this reporting period and is required to report on its emissions, energy consumption or energy efficiency activities.

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2022 UK Government’s Conversion Factors for Company Reporting.

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per full time and flexible employee.

The company actively encourages employees to choose hybrid or fully electric vehicles where practical. However, the higher purchase and leasing costs associated with these vehicles can present affordability challenges, and individual vehicle budgets may not always accommodate the additional cost.

To support the transition to electric vehicles, additional charging points have been installed at Head Office for use by employees and visitors. The Company is also engaging with landlords to explore the installation of charging infrastructure at other office locations wherever feasible, with the aim of further supporting the uptake of electric vehicles across the business.

The company continues to promote sustainable travel and energy-efficient working practices across the business. The Cycle to Work scheme remains available to all employees, with 3% of the workforce currently participating. Employee engagement initiatives also continue to encourage behavioural changes that support energy conservation and environmental responsibility.

All offices are encouraged to minimise energy consumption by ensuring that computers and other electrical equipment are switched off when not in use, particularly outside normal working hours. The company remains committed to reducing paper consumption and progressing towards a paperless operating model. Continued investment in digital systems, automation and AI-enabled solutions has further reduced the need for paper-based processes. During the year, the company continued to assess payroll and accounting software solutions that could reduce reliance on locally hosted systems, while also exploring opportunities to integrate AI functionality into existing platforms where this provides a cost-effective and efficient solution.

Sustainable procurement and waste management remain important considerations. Stationery is sourced from sustainable suppliers wherever possible, and the company seeks to maximise recycling across all office locations. Confidential paper waste is securely shredded and recycled by a specialist waste management provider, and printer toner cartridges are recycled through approved recycling schemes.

The company continues to work with energy suppliers and landlords to replace traditional utility meters with smart meters where practicable. Whilst progress has been made, implementation remains challenging at certain leased premises where installation is dependent on third-party approval and infrastructure constraints.

During 2025, the company continued to invest in energy-efficient lighting across its offices. LED lighting is now installed in 85% of locations, compared with 80% in 2024, demonstrating continued progress in improving the energy efficiency of the company's premises. The company will continue to identify opportunities to increase LED coverage across the remaining locations where feasible, supporting reductions in electricity consumption and associated carbon emissions

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments, treasury operations, financial instruments and principal risks and uncertainties.

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; and

• 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.

We have audited the financial statements of Quest Employment Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, 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 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 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.

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' report 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.

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 directors' report.

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.

As explained more fully in the directors' responsibilities statement, 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.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the company and the laws and regulations that could reasonably be expected to have a direct effect on the financial statements through discussion with the directors and management and the application of our knowledge and experience. We discussed with management whether there were any known or suspected instances of fraud and/or non-compliance with relevant laws and regulations. We also obtained an understanding of the company's accounting systems and internal controls.

We audited the risk of management override of controls, by testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Our other audit procedures included, but were not limited to, carrying out detailed substantive testing of a sample of income, wages and expenditure transactions arising in the year and a sample of balance sheet items such as tangible assets, debtors, creditors, etc. We also reviewed the financial statements and checked disclosures to supporting documentation to assess compliance with applicable law and regulation.

Because of the inherent risk of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely to become aware of instances of non-compliance. The risk is greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

The Profit and Loss Account has been prepared on the basis that all operations are continuing operations.

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

Quest Employment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7-9 The Avenue, Eastbourne, East Sussex, BN21 3YA. The company registration number is 05509015.

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 amounts 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.

The company's legal accounting reference date under the Companies Act 2006 is 4 January.

The directors have determined, pursuant to s.390(3) of the Companies Act 2006, that the financial year is treated as ending on 31 December, being a date within seven days of the accounting reference date.

The financial statements have accordingly been prepared for the year ended 31 December 2025, with the prior year presented for the year ended 31 December 2024.

The directors consider that this presentation gives a true and fair view and that the four-day variance has no material effect on the financial position or performance of the company.

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

Turnover 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.

Goodwill represents the client list acquired in 2006 and is written off in equal annual instalments over its estimated useful economic life of twenty years. The directors review the client list and estimated useful economic life on an annual basis.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

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.

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

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stock relates to brochures, leaflets and work wear held by the company for future use and is stated at cost.

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.

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

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors 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 rate method 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. Financial assets classified as receivable within one year are not amortised.

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

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 asset’s 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 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.

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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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

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.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no sources which could give rise to a material estimation uncertainty within the next 12 months that require disclosure.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The directors estimate the expected useful lives of the company's fixed assets which in turn impacts on the amount of depreciation charged in the year.

The directors estimate the value of goodwill based on the contracts retained since the company was incorporated. This impacts on the amount of amortisation charged in the year.

The directors calculate the accrued holiday pay at the year end based on holiday records and contractual entitlement.

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

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

The aggregate remuneration of all full-time employees and temporary workers comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2024 - 5).

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:

Included within other debtors is a loan of £160,020 (2024 - £205,020) to Insight Employment Limited of which £108,020 (2024 - £153,020) is payable after more than one year and a loan to Avenue Employment Ltd of £25,000 (£225,000).

Included within bank loans is the invoice discounting facility which has a balance of £2,095,100 (2024 - £3,844,501).

The invoice discounting facility is secured by a debenture over the company's assets including:

• All current and future freehold and leasehold property owned by the company together with all buildings, structures, fixtures and fittings (including trade and tenant’s fixtures).

• All present and future patents, patent applications, trademarks and service marks (whether registered or not), design rights (whether registered or not), copyrights and all other intellectual property rights whatsoever and all rights relating thereto (including, without limitation, by way of licence) legally or beneficially owned by the company.

• All investments, key-man policies and insurance policies.

The debenture contains fixed and floating charges. The carrying amounts of the assets are as stated in the individual notes.

Club Quest is a benefits package offered to the company's workers for which the company takes payments by direct debit on a weekly basis. Under the direct debit guarantee, any payments can be queried and reclaimed for a period of up to six years. The company does receive a number of queries and refunds are issued and the directors believe that a provision of £96,817, which is based on 5% of the full amount which could be reclaimed, is a fair and reasonable estimate based on historical experience.

As the provision is based on historical experience and reimbursement can be claimed up to six years after the initial payment was made, the amount and timing of the settlement is therefore considered uncertain.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

The deferred tax liability set out above is expected to reverse in line with the depreciation of the fixed assets and relates to accelerated capital allowances that are expected to mature within the same period.

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.

At the year end the company owed £31,682 (2024: £35,912).

On 2 February 2024, the company repurchased, and cancelled, 250 ordinary 'B' shares from Mr T Shingler.

Each share is entitled to a vote and to participate in a distribution on winding up.

Each class of ordinary shares shall be entitled to such dividends or other distributions as the board shall recommend and (in the case of any final dividend) as are approved by ordinary resolution from time to time, provided that the ‘B’ shares and ‘C’ shares shall be treated as if they constituted a single class of shares, so that no dividend or other income distribution may be declared, made or paid in respect of either of the ‘B’ shares or the ‘C’ shares to the exclusion of the other.

The capital redemption reserve has arisen due to the company's purchase and cancellation of own shares.

Operating lease payments represent rentals payable by the company for certain of its properties and motor vehicles.

The property leases are negotiated for an average term of ten years with a break clause after five years. Rentals are fixed for an average of five years.

The motor vehicle leases are usually for a three year term with fixed rental payments.

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:

The remuneration of key management personnel is as follows.

Dividends totalling £687,520 (2024 - £666,126) were paid in the year in respect of shares held by the company's directors.

Dividends totalling £716,800 (2024 – £670,975) were paid in respect of shares held by Avenue Employment Limited. Mrs L Banks, Mr J Bluck, and Mr J Cole are directors and shareholders of Avenue Employment Limited.

As at 31 December 2025, the company owed five (2024: five) directors a total of £41,005 (2024 - £54,965). During the year amounts advanced to directors totalled £699,688 and amounts repaid totalled £713,649. The loans are repayable on demand and are interest free.

The company has made a loan to Insight Employment Limited. The loan balance owed to the company at the year end was £160,020 (2024 - £205,020). The loans are repayable on demand and are interest free. Mr M Russell and Mr D Parker are directors and controlling shareholders of Insight Employment Limited.

During the year the company has made a loan to Avenue Employment Limited. The loan balance owed to the company at the year end was £25,000 (2024 - £225,000). The loans are repayable on demand and are interest free. Mrs L Banks, Mr J Bluck and Mr J Cole are directors and together controlling shareholders of Avenue Employment Limited.