TECHNET IT RECRUITMENT LIMITED


Directors	BAILEY, Curtis Robinson
	RIDDINGTON-SMITH, Emily
	SIMPSON, Shayne Liam


Registered Address	1 Vincent Avenue
	Crownhill
	Milton Keynes
	MK8 0AB


Registered Number	04142465 (England and Wales)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		9,421		15,468
Tangible assets	4		7,514		5,476
			16,935		20,944
Current assets
Debtors	5	1,862,949		3,011,505
Cash at bank and on hand		18,859		36,930
		1,881,808		3,048,435
Creditors amounts falling due within one year	6	(1,727,777)		(2,856,509)
Net current assets (liabilities)			154,031		191,926
Total assets less current liabilities			170,966		212,870
Creditors amounts falling due after one year	7		(168,130)		(12,500)
Net assets			2,836		200,370
Capital and reserves
Called up share capital			1,980		1,980
Profit and loss account			856		198,390
Shareholders' funds			2,836		200,370

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 19 June 2026, and are signed on its behalf by:

BAILEY, Curtis Robinson
Director
Registered Company No. 04142465

TECHNET IT RECRUITMENT LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably. Revenue from permanent placement fees is recognised upon completion of placement. Revenue from contract staffing services is recognised as services are provided, based on time worked.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from permanent placement fees is recognised upon completion of placement. Revenue from contract staffing services is recognised as services are provided, based on time worked.

	Employee benefits
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Goodwill
	Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years. This financial year has accounted for the Goodwill Amortisation costs relating to both this financial year and previous financial years cost missed in previous years reporting.

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


	Reducing balance (%)	Straight line (years)
Land and buildings	-	4
Plant and machinery	-	4
Fixtures and fittings	25	-
Office Equipment	-	2

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	27		30

3.	Intangible assets
	GoodWill Amortisation was omitted in prior year and has been included in the charge for current year.

	Goodwill	Other	Total
	£	£	£
Cost or valuation
At 01 January 25	20,157	70,000	90,157
At 31 December 25	20,157	70,000	90,157
Amortisation and impairment
At 01 January 25	4,689	70,000	74,689
Charge for year	6,047	-	6,047
At 31 December 25	10,736	70,000	80,736
Net book value
At 31 December 25	9,421	-	9,421
At 31 December 24	15,468	-	15,468

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 25	36,970	40,403	154,701	232,074
Additions	-	-	6,569	6,569
Disposals	(26,415)	-	-	(26,415)
At 31 December 25	10,555	40,403	161,270	212,228
Depreciation and impairment
At 01 January 25	36,645	37,563	152,390	226,598
Charge for year	300	710	3,520	4,530
On disposals	(26,415)	-	-	(26,415)
Other adjustments	-	-	1	1
At 31 December 25	10,530	38,273	155,911	204,714
Net book value
At 31 December 25	25	2,130	5,359	7,514
At 31 December 24	325	2,840	2,311	5,476

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,395,154	2,057,699
Amounts owed by associates and joint ventures / participating interests	411,925	814,354
Other debtors	13,768	27,121
Prepayments and accrued income	42,102	112,331
Total	1,862,949	3,011,505

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	534,585	134,320
Bank borrowings and overdrafts	376,223	1,514,072
Amounts owed to related parties	-	252,343
Taxation and social security	520,900	615,199
Other creditors	255,693	286,400
Accrued liabilities and deferred income	40,376	54,175
Total	1,727,777	2,856,509

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	168,130	12,500
Total	168,130	12,500

8.	Provisions for liabilities

9.	Related party transactions
	Included within Debtors is an amount of £67.866 (2024: £300,833) owed by Cranberry Panda 2.0 Limited, a group company in which C Bailey and S Simpson are directors. Also included within Debtors is an amount of £332,929.60 (2024: £321,280) owed by Ascent International Group Limited, parent of this company.