Element Recruitment Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Element Recruitment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09888283 . The registered office is Whitefriars Lewins Mead, Bristol, Avon, BS1 2NT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover is recognised when significant risks and rewards are considered to have been transferred to the customer.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	4 years straight line
Fixtures & Fittings	5 years straight line
Computer Equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

At each Statement of Financial Position date, the Company reviews 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). The recoverable amount of the asset is the higher of its fair value less costs to sell and its 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 cashflows have not been adjusted.

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. An impairment loss is recognised immediately in the Statement of Income and Retained Earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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Element Recruitment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

2.8. Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost

2.9. Other

Ordinary share capital

The ordinary share capital of the Company is presented as equity

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2025: 18)

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Element Recruitment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	154,061	11,876	18,797	184,734
Disposals	(154,061 )	-	-	(154,061 )

As at 31 March 2026	-	11,876	18,797	30,673

Depreciation
As at 1 April 2025	125,632	8,583	15,372	149,587
Provided during the period	25,270	2,251	3,425	30,946
Disposals	(150,902 )	-	-	(150,902 )

As at 31 March 2026	-	10,834	18,797	29,631

Net Book Value
As at 31 March 2026	-	1,042	-	1,042

As at 1 April 2025	28,429	3,293	3,425	35,147

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	125,387	212,072
Prepayments and accrued income	-	21,268
Other debtors	31,268	44,148
Directors' loan accounts	-	72,880

	156,655	350,368
Due after more than one year
Other debtors	638,001	-

	794,656	350,368

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	63,988	34,529
Corporation tax	151,917	168,419
Other taxes and social security	-	52,371
VAT	86,746	88,256
Other creditors	3,834	4,147
Accruals and deferred income	12,825	64,808
Directors' loan accounts	40,000	-

	359,310	412,530

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Element Recruitment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

8. Pension Commitments

The company operates a defined contribution pension scheme for the director and its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £149 (PY £2,036) were due to the fund. They are included in Other Creditors.

9. Directors Advances, Credits and Guarantees

The following loans to/(from) a director subsisted during the period:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mrs Stephanie Dominy	(72,880 )	-	100,000	-	40,000
Mr Steven Colegate	(12,880)	-	12,880	-	-

The above loan is unsecured, interest free and repayable on demand.

10. Dividends

	2026	2025
	£	£
On equity shares:
Final dividend paid	83,760	100,000

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,042		35,147

			1,042		35,147
CURRENT ASSETS
Debtors	5	794,656		350,368
Cash at bank and in hand		320,856		700,570

		1,115,512		1,050,938
Creditors: Amounts Falling Due Within One Year	6	(359,310 )		(412,530 )

NET CURRENT ASSETS (LIABILITIES)			756,202		638,408

TOTAL ASSETS LESS CURRENT LIABILITIES			757,244		673,555

PROVISIONS FOR LIABILITIES
Deferred Taxation			(244 )		(8,563 )

NET ASSETS			757,000		664,992

CAPITAL AND RESERVES
Called up share capital	7		2		2
Profit and Loss Account			756,998		664,990

SHAREHOLDERS' FUNDS			757,000		664,992