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Registered number: 11515358
Som-3 Recruitment Limited
Unaudited Financial Statements
For The Year Ended 31 January 2026
Michael Price Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11515358
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,756 19,949
Investments 6 65,000 65,000
75,756 84,949
CURRENT ASSETS
Debtors 7 400,110 355,832
Cash at bank and in hand 335,131 301,988
735,241 657,820
Creditors: Amounts Falling Due Within One Year 8 (228,637 ) (170,315 )
NET CURRENT ASSETS (LIABILITIES) 506,604 487,505
TOTAL ASSETS LESS CURRENT LIABILITIES 582,360 572,454
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,689 ) (4,987 )
NET ASSETS 579,671 567,467
CAPITAL AND RESERVES
Called up share capital 9 229 229
Share premium account 99,971 99,971
Profit and Loss Account 479,471 467,267
SHAREHOLDERS' FUNDS 579,671 567,467
Page 1
Page 2
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S O Morrisey
Director
23/10/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Som-3 Recruitment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11515358 . The registered office is 1 Knutsford Business Centre, Cranford Ho, Knutsford Business Park, Knutsford, Cheshire, WA16 8ZR.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value-added taxes, rebates, and placement guarantees. Turnover represents revenue earned entirely from the provision of recruitment and staffing services, which are recognised as follows:
Permanent Placement Fees: Revenue from permanent placements is recognised when the candidate commences their employment with the client. This is the point at which the company has fully performed its contractual obligations and the right to consideration is established.
Temporary Recruitment Income: Revenue from temporary placements is recognised as the services are rendered. It is calculated based on the contractually agreed hourly or daily billing rates for the actual time worked by the temporary workers, as confirmed by approved timesheets.
Rebates and Replacement Guarantees: Provision or reduction in turnover is made for estimated rebates or refunds under standard terms of business (e.g., if a placed candidate leaves within a specified guarantee period). These are estimated based on historical experience and contract terms, and are deducted from turnover at the time of the initial placement recognition.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Website Cost. It is amortised to the profit and loss account over its estimated economic life of 4.17 years straight line method.
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 5 Years (Straight Line)
Fixtures & Fittings 3 Years (Straight Line)
Computer Equipment 5 Years (Straight Line)
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. 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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2025: 8)
7 8
4. Intangible Assets
Other
£
Cost
As at 1 February 2025 20,000
As at 31 January 2026 20,000
Amortisation
As at 1 February 2025 20,000
As at 31 January 2026 20,000
Net Book Value
As at 31 January 2026 -
As at 1 February 2025 -
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2025 7,698 9,873 50,770 68,341
Additions - - 366 366
As at 31 January 2026 7,698 9,873 51,136 68,707
Depreciation
As at 1 February 2025 1,796 8,134 38,462 48,392
Provided during the period 1,540 1,599 6,420 9,559
As at 31 January 2026 3,336 9,733 44,882 57,951
Net Book Value
As at 31 January 2026 4,362 140 6,254 10,756
As at 1 February 2025 5,902 1,739 12,308 19,949
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 February 2025 65,000
As at 31 January 2026 65,000
Provision
As at 1 February 2025 -
As at 31 January 2026 -
Net Book Value
As at 31 January 2026 65,000
As at 1 February 2025 65,000
The Investment represents 35% of Ordinary Share Capital in Chambers Search Limited.
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 283,984 268,159
Prepayments and accrued income 19,266 24,328
Director's loan account 26,708 -
329,958 292,487
...CONTINUED
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Due after more than one year
Amounts owed by group undertakings - 1,119
Amounts owed by subsidiaries 70,152 62,226
70,152 63,345
400,110 355,832
Amounts owed by subsidiaries relates to loan made to Chambers Search Limited. The loan facility will incur an interest charge of 1% per month used.
Interest will be rolled up on a compound bases and paid at the time of settling the loan.
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 136,700 156,220
Corporation tax 30,216 -
Other taxes and social security 5,707 9,959
VAT 14,984 1,062
Net wages 80 -
HSBC Credit Card 1,632 261
Amex Credit Card 33,004 76
Pension Payable 1,064 1,837
Accruals and deferred income 5,250 900
228,637 170,315
9. Share Capital
2026 2025
Allotted, called up and fully paid £ £
229 Ordinary Shares of £ 1.00 each 229 229
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2025 Amounts advanced Amounts repaid Amounts written off As at 31 January 2026
£ £ £ £ £
Mr Steven Morrisey - 26,708 - - 26,708
The above loan is unsecured, interest free and repayable on demand. The Loan was fully repaid on 10 March 2026.
11. Dividends
2026 2025
£ £
On equity shares:
Final dividend paid 7,500 15,000
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