Connected It Recruitment Ltd

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

1. General Information

Connected It Recruitment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09409239 . The registered office is Wework, 1 St. Peters Square, Manchester, Greater Manchester, M2 3DE.

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

At 31 January 2026 the company had net liabilities of £3,866 (2025: net assets of £21,347). The loss for the year arose principally from the write-off of a loan of £31,300 to a related company, as described in the Related Party Transactions note. The company has returned to profitability in the period from 1 February 2026 to the date of approval of these financial statements. The company has continued to meet its liabilities, and the director expects the company to generate profits and rebuild its reserves during the year ending 31 January 2027. The director has not identified any material uncertainties related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. The financial statements have therefore been prepared on the going concern basis.

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 the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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:

Plant & Machinery	Straight Line @ 20%
Fixtures & Fittings	Straight Line @ 20%
Computer Equipment	Straight Line @ 33%

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.

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Connected It Recruitment Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2025: 1)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 February 2025	333	1,264	698	2,295

As at 31 January 2026	333	1,264	698	2,295

Depreciation
As at 1 February 2025	219	555	625	1,399
Provided during the period	23	253	73	349

As at 31 January 2026	242	808	698	1,748

Net Book Value
As at 31 January 2026	91	456	-	547

As at 1 February 2025	114	709	73	896

5. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 February 2025	100

As at 31 January 2026	100

Provision
As at 1 February 2025	-

As at 31 January 2026	-

Net Book Value
As at 31 January 2026	100

As at 1 February 2025	100

The company owns 50% of the ordinary share capital of Connected IT Contract Limited (1 St Peters Square, Manchester, M2 3DE).

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	(8 )	-
Director's loan account	-	9,978

	(8 )	9,978

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Connected It Recruitment Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

7. Current Asset Investments

	2026	2025
	£	£
Short term deposits	-	2,163

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	(2 )	-
Corporation tax	2,681	3,083
Other taxes and social security	95	40
VAT	1,782	4,266
Director's loan account	262	-

	4,818	7,389

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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 Vincent Stevenson	9,978	-	9,978	-	-

The above loan is unsecured, repayable on demand and subejct to interest at 3.75%.

Dividends paid to directors

	2026	2025
	£	£
Mr Vincent Stevenson	7,500	-

11. Related Party Transactions

Write-off of loan from Hatters HM Limited

During the year the company was assigned loans totalling £31,300 (2025: £0) from Hatters HM Limited, a company of which Mr Vincent Stevenson, a director and shareholder of the company, is also director and shareholder. The loan was unsecured, interest-free and had no fixed repayment terms. Subsequent to the year end, Hatters HM Limited has entered liquidation and the loan is not expected to be recovered. The full balance of £31,300 has therefore been written off and charged to the profit and loss account in the year. The amount owed to the company at 31 January 2026 was £31,300 (2025: £0), against which full provision has been made, giving a carrying value of £0 (2025: £0).

Reversal of write-off of loan from SVBM Consultancy Limited

In the prior year the company wrote off a loan due from SVBM Consultancy Limited, a company of which Mr Vincent Stevenson, a director and shareholder of the company, is also director and shareholder. During the year SVBM Consultancy Limited repaid £10,000 prior to being struck off. This recovery has been credited to the profit and loss account in the year. No amounts were owed by SVBM Consultancy Limited at 31 January 2026.

Management Charges from Connected IT Contract Limited

The company holds 50% of the ordinary share capital of Connected IT Contract Limited. During the year, the company received management charges of £40,450 (2025: £46,301) from Connected IT Contract Limited, included within other operating income.

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Connected It Recruitment Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

12. Exceptional Items

Administrative expenses include a net charge of £21,300 in respect of loans with related companies. This comprises the write-off of a loan of £31,300 from Hatters HM Limited, less the recovery of £10,000 from SVBM Consultancy Limited of a loan written off in the prior year. Further details are given in the Related Party Transactions note.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		547		896
Investments	5		100		100

			647		996
CURRENT ASSETS
Debtors	6	(8 )		9,978
Investments	7	-		2,163
Cash at bank and in hand		417		15,769

		409		27,910
Creditors: Amounts Falling Due Within One Year	8	(4,818 )		(7,389 )

NET CURRENT ASSETS (LIABILITIES)			(4,409 )		20,521

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,762 )		21,517

PROVISIONS FOR LIABILITIES
Deferred Taxation			(104 )		(170 )

NET (LIABILITIES)/ASSETS			(3,866 )		21,347

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(3,966 )		21,247

SHAREHOLDERS' FUNDS			(3,866)		21,347