Company Registration No. 04307011 (England and Wales)
LEADING RESOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
LEADING RESOLUTIONS LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Statement of income and retained earnings
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13 - 25
LEADING RESOLUTIONS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J A Bance
Mr P J Smyth
Mr. S L Giles
(Appointed 6 May 2026)
Company number
04307011
Registered office
2 Coped Hall Business Park
Royal Wootton Bassett
Swindon
Wiltshire
United Kingdom
SN4 8DP
Auditor
TC Group
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
LEADING RESOLUTIONS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

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

Fair review of the business

Leading Resolutions is an independent IT and Technology consultancy helping clients deliver large-scale transformation and technology change programmes. The company has full coverage across the technology landscape with deep expertise advising an extensive list of UK based blue-chip clients on complex IT transformation and business change programmes. Following a significant number of testimonials and recommendations from industry peers and clients, Leading Resolutions has been named for the sixth year running in the Financial Times UK's Leading Management Consultants report. Now awarded across five categories, this recognition highlights the momentum the business has been building and is testament to the delivery capabilities which have been expanded and developed over recent years.

Additionally, Leading Resolutions has been recognised in Management Today’s Top 100 Management Consultancies for the second year.

On 21st April 2023 the management team completed an MBO supported by NVM Private Equity. The existing management team now make up the executive board of Leading Resolutions with Pete Smyth as CEO and Jonathan Bance as COO.

During 2025, market conditions for consulting services remained challenging, with client decision-making continuing to be slower than anticipated. Opportunity sizes were generally smaller, and sales cycles extended, resulting in a longer conversion period from pipeline opportunities to committed revenue. Revenue and EBITDA were slightly down on previous years. Performance continued to be monitored through monthly management accounts and regular review of key performance indicators, including revenue, gross margin, EBITDA, cash, debtor days, pipeline and sales conversion.

Despite these market conditions, the business made progress in strengthening its pipeline and broadening its client base. The final quarter showed improving sales activity, with new logo wins and opportunities progressing across both existing and dormant accounts. The board has continued to invest in sales, marketing, PR, account planning, partnerships, recruitment capability and proposition development to support future growth and reduce dependency on a small number of major clients.

LEADING RESOLUTIONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Principal risks and uncertainties

The consultancy market remains competitive and client demand continues to vary by sector, service type and timing of investment decisions. A higher proportion of intelligent resourcing and resource augmentation work can place pressure on gross margin when compared with higher-value advisory and delivery engagements. The board continues to focus on improving the quality of earnings by developing higher-value propositions, increasing conversion rates, strengthening account plans and building a broader pipeline of new and existing client opportunities

Recruitment and retention also remain important areas of focus. The company continues to invest in its permanent consulting capability where the pipeline and forecast allow, associate network and internal recruitment infrastructure to ensure that client demand can be met at pace while reducing reliance on external recruitment channels. The business also continues to provide flexible working, professional development and people-focused initiatives to support attraction and retention.

The business typically works with clients on strategic transformation and technology programmes, but individual assignments can vary in duration and certainty. To manage this, Leading Resolutions continues to operate a flexible delivery model, allowing the company to adjust its resourcing and cost base in line with demand. This remains an important control in protecting profitability and cash while enabling the business to respond quickly to new opportunities.

Customer concentration remains a key commercial risk, with a significant proportion of revenue and gross margin generated from a small number of major clients. The board is actively focused on reducing this dependency through new logo acquisition, growth in existing accounts, development of dormant accounts, and more targeted sales and specific marketing activity. The company has also continued to build lead indicators and pipeline reporting to provide earlier visibility of potential variances to budget and to allow timely management action.

On behalf of the board

Mr P J Smyth
Director
7 August 2026
LEADING RESOLUTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

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

Principal activities

The principal activity of the company continued to be that of information technology consultancy.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. 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 J A Bance
Mr P J Smyth
Mr R W F Chapman
(Resigned 8 May 2026)
Mr. S Coxhead
(Appointed 6 May 2026 and resigned 2 June 2026)
Mr. S L Giles
(Appointed 6 May 2026)
Auditor

TC Group were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

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 P J Smyth
Director
7 August 2026
LEADING RESOLUTIONS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

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.

LEADING RESOLUTIONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEADING RESOLUTIONS LIMITED
- 6 -
Opinion

We have audited the financial statements of Leading Resolutions Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet, 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.

LEADING RESOLUTIONS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LEADING RESOLUTIONS LIMITED
- 7 -

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.

LEADING RESOLUTIONS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LEADING RESOLUTIONS LIMITED
- 8 -

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/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

LEADING RESOLUTIONS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LEADING RESOLUTIONS LIMITED
- 9 -

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.

Mark Bullock FCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
7 August 2026
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
LEADING RESOLUTIONS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
13,826,931
14,367,403
Cost of sales
(8,821,481)
(9,340,329)
Gross profit
5,005,450
5,027,074
Administrative expenses
(3,264,572)
(3,062,352)
Operating profit
4
1,740,878
1,964,722
Interest receivable and similar income
6
91,402
29,575
Interest payable and similar expenses
7
(437)
-
0
Profit before taxation
1,831,843
1,994,297
Tax on profit
8
(468,057)
(149,550)
Profit for the financial year
1,363,786
1,844,747
Retained earnings brought forward
5,633,126
7,202,132
Dividends
9
-
0
(3,413,753)
Retained earnings carried forward
6,996,912
5,633,126

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LEADING RESOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
44,996
35,234
Current assets
Debtors
11
6,829,688
7,144,116
Cash at bank and in hand
2,120,570
1,150,409
8,950,258
8,294,525
Creditors: amounts falling due within one year
12
(1,653,776)
(2,357,013)
Net current assets
7,296,482
5,937,512
Total assets less current liabilities
7,341,478
5,972,746
Provisions for liabilities
Deferred tax liability
14
39
(4,907)
(39)
4,907
Net assets
7,341,439
5,977,653
Capital and reserves
Called up share capital
17
110
110
Share premium account
18
344,417
344,417
Profit and loss reserves
19
6,996,912
5,633,126
Total equity
7,341,439
5,977,653

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 August 2026 and are signed on its behalf by:
Mr P J Smyth
Director
Company registration number 04307011 (England and Wales)
LEADING RESOLUTIONS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
721,915
3,201,874
Interest paid
(437)
-
0
Income taxes refunded/(paid)
199,005
(302,411)
Net cash inflow from operating activities
920,483
2,899,463
Investing activities
Purchase of tangible fixed assets
(41,725)
(12,989)
Proceeds from disposal of tangible fixed assets
-
0
423
Interest received
91,403
29,575
Net cash generated from investing activities
49,678
17,009
Financing activities
Dividends paid
-
0
(3,413,753)
Net cash used in financing activities
-
(3,413,753)
Net increase/(decrease) in cash and cash equivalents
970,161
(497,281)
Cash and cash equivalents at beginning of year
1,150,409
1,647,690
Cash and cash equivalents at end of year
2,120,570
1,150,409
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
1
Accounting policies
Company information

Leading Resolutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Coped Hall Business Park, Royal Wootton Bassett, Swindon, Wiltshire, United Kingdom, SN4 8DP.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Leading Resolutions Limited is a wholly owned subsidiary of Project Techcon Bidco Limited and the results of Leading Resolutions Limited are included in the consolidated financial statements of Project Techcon Topco Limited which are available from 2 Coped Hall Business Park, Royal Wootton Bassett, Swindon, Wiltshire, SN4 8DP.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.4
Tangible fixed assets

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:

Leasehold land and buildings
10% on cost
Plant and equipment
33% on cost and 25% on cost
Fixtures and fittings
15% reducing balance
Computers
33% on cost

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.

1.5
Impairment of fixed 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

1.6
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.

LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.7
Financial instruments

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

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 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.

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.

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.

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.

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.

LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
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 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 paymen ts 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. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

1.8
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.

1.9
Taxation

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

LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Current 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

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
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 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.

1.11
Retirement benefits

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

1.12
Leases

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 lease s asset are consumed.

LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
2
Judgements and key sources of estimation uncertainty

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.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Consulting Income
13,826,931
14,367,403
2025
2024
£
£
Other revenue
Interest income
91,402
29,575
4
Operating profit
2025
2024
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
14,495
21,000
Depreciation of owned tangible fixed assets
30,991
29,880
Loss on disposal of tangible fixed assets
971
2,026
Operating lease charges
80,791
75,062
5
Employees

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

2025
2024
Number
Number
27
25
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,913,234
1,485,619
Social security costs
274,184
180,498
Pension costs
71,441
39,828
2,258,859
1,705,945
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
35,485
29,575
Other interest income
55,917
-
0
Total income
91,402
29,575
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
35,485
29,575
7
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
437
-
0
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
472,741
161,641
Adjustments in respect of prior periods
(9,630)
-
0
Total current tax
463,111
161,641
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Taxation
2025
2024
£
£
(Continued)
- 20 -
Deferred tax
Origination and reversal of timing differences
4,946
(12,091)
Total tax charge
468,057
149,550

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:

2025
2024
£
£
Profit before taxation
1,831,843
1,994,297
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
457,961
498,574
Tax effect of expenses that are not deductible in determining taxable profit
12,905
15,742
Adjustments in respect of prior years
(1,400)
-
0
Group relief
-
0
(363,601)
Permanent capital allowances in excess of depreciation
-
0
(1,165)
Depreciation on assets not qualifying for tax allowances
921
-
0
Timing difference
(2,330)
-
0
Taxation charge for the year
468,057
149,550
9
Dividends
2025
2024
£
£
Final paid
-
0
3,413,753
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
10
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2025
49,103
51,732
27,272
51,982
180,089
Additions
13,200
26,307
2,218
-
0
41,725
Disposals
-
0
(12,350)
(3,161)
(51,982)
(67,493)
At 31 December 2025
62,303
65,689
26,329
-
0
154,321
Depreciation and impairment
At 1 January 2025
44,443
32,666
15,764
51,982
144,855
Depreciation charged in the year
4,808
18,280
7,903
-
0
30,991
Eliminated in respect of disposals
-
0
(11,591)
(2,948)
(51,982)
(66,521)
At 31 December 2025
49,251
39,355
20,719
-
0
109,325
Carrying amount
At 31 December 2025
13,052
26,334
5,610
-
0
44,996
At 31 December 2024
4,660
19,066
11,508
-
0
35,234
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,060,813
3,126,747
Corporation tax recoverable
115,898
772,785
Amounts owed by group undertakings
4,474,034
3,003,880
Other debtors
-
0
5,229
Prepayments and accrued income
178,943
235,475
6,829,688
7,144,116
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
12
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Other borrowings
13
147,927
-
0
Trade creditors
628,452
716,239
Taxation and social security
294,472
371,661
Deferred income
15
437,511
753,519
Other creditors
16,441
393,690
Accruals
128,973
121,904
1,653,776
2,357,013
13
Loans and overdrafts
2025
2024
£
£
Loans from group undertakings
147,927
-
0
Payable within one year
147,927
-
0

Barclays Bank and NVM PE Limited as Security Trustee for the Secured Parties have charges which includes;

Contains fixed charge that covers all the property or undertaking of the company.

Contains floating charge that covers all the property or undertaking of the company.

Contains negative pledge.

14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
2,767
5,050
Short term timing differences
(2,728)
(9,957)
39
(4,907)
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Deferred taxation
(Continued)
- 23 -
2025
Movements in the year:
£
Asset at 1 January 2025
(4,907)
Charge to profit or loss
4,946
Liability at 31 December 2025
39

The deferred tax liability relating accelerated capital allowances is expected to fully reverse within 12 months with an asset recognised in the following accounting period for approximately £2,628.

The deferred tax asset relating to short term timing differences are expected to fully reserve within 12 months.

15
Deferred income
2025
2024
£
£
Other deferred income
437,511
753,519
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
71,441
39,828

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.

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.005p each
2,200,000
2,200,000
110
110
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
18
Share premium account
2025
2024
£
£
At the beginning and end of the year
344,417
344,417
19
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
5,633,126
7,202,132
Profit for the year
1,363,786
1,844,747
Dividends declared and paid in the year
-
(3,413,753)
At the end of the year
6,996,912
5,633,126
20
Operating lease commitments
Lessee

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:

2025
2024
£
£
Within one year
83,647
8,390
Between two and five years
195,669
37,668
279,316
46,058
21
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
6,900
-
LEADING RESOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
22
Ultimate controlling party

The controlling party is Project TechCon BidCo Ltd.

The ultimate controlling party is Project TechCon TopCo Ltd.

Group accounts are prepared by the ultimate controlling party and available at the registered office address: 2 Coped Hall Business Park, Royal Wootton Bassett, Swindon, Wiltshire, SN4 8DP.

23
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
1,363,786
1,844,747
Adjustments for:
Taxation charged
468,057
149,550
Finance costs
437
-
0
Investment income
(91,402)
(29,575)
Loss on disposal of tangible fixed assets
971
2,026
Depreciation and impairment of tangible fixed assets
30,991
29,880
Movements in working capital:
(Increase)/decrease in debtors
(347,688)
377,647
(Decrease)/increase in creditors
(387,229)
421,513
(Decrease)/increase in deferred income
(316,008)
406,086
Cash generated from operations
721,915
3,201,874
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