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1. Material accounting policies
Basis of preparation for Group and Parent Company
The material accounting policies adopted in the preparation
of the financial statements are set out below. The policies
have been consistently applied to all the years presented,
unless otherwise stated.
These financial statements have been prepared in
accordance with UK adopted International Accounting
Standards and the provisions of the Companies Act 2006.
These financial statements have been prepared on
a historical cost basis and are presented in pounds
sterling, generally rounded to the nearest thousand, the
presentational currency of the Group. The functional
currency of the Parent Company is pounds sterling.
Going concern
The Group\u2019s business activities (including the Parent Company),
together with the factors likely to affect its future development,
performance and position, are set out in the Strategic report.
The financial position of the Group, its cash flows, liquidity
position and available working capital are described in the
Strategic report. In addition, note 3 to the financial statements
includes the Group\u2019s objectives, policies and processes for
managing its capital, its financial risk management objectives,
details of its financial instruments and its exposure to credit
risk and liquidity risk. The Group meets its day to day working
capital requirements through cash reserves.
The Group operates an efficient low-cost operating model.
The client base generally consists of large blue-chip entities,
particularly within the public sector, enjoying long-term and
productive client relationships. As such, debtor recovery has
been reliable and predictable with no exposure to bad debts.
For the year ended 31 March 2026, the Group has not utilised,
nor anticipates prospectively utilising, any external debt or
financing instruments.
The going concern assessment considered a number of
realistic scenarios covering the period ending 30 September
2027, including the ability of future client acquisition, and the
impact of the reduction in services of key clients upon future
cash flows. In addition, the most severe scenario possible
modelled, assumed all current client contracts discontinued
at expiry with no extension or replacement and with no cost
mitigation. Even in this most extreme scenario, the Group
has enough liquidity and long-term contracts to support the
business through the going concern period. The Directors have
concluded from these assessments that the Group would have
sufficient headroom in cash balances to continue in operation.
After making enquiries, including a review of the wider economy
including inflationary pressures, the impact of Governmental
instability, geopolitical events and global tariffs impacting the
wider economy, the Directors have a reasonable expectation
that the Group has adequate resources to continue in
operational existence for the foreseeable future and at least
twelve months from the date of approval of the financial
statements. Accordingly, they continue to adopt the going
concern basis in preparing the annual report and accounts.
Basis of consolidation
Where the Company has control over an investee, it is classified
as a subsidiary. The Company controls an investee if all three
of the following elements are present: power over the investee,
exposure to variable returns from the investee and the ability
of the investor to use its power to affect those variable returns.
The consolidated financial statements present the results
of the Company and its subsidiaries (\u201cthe Group\u201d) as if they
formed a single entity. Intercompany transactions and balances
between Group companies are therefore eliminated in full.
Property, plant and equipment
Property, plant and equipment are stated at cost, net of
accumulated depreciation and any impairment in value.
Depreciation is calculated as to write off the cost of assets,
less their estimated residual values, on a straight-line basis
over the expected useful economic lives of the assets
concerned. Depreciation is charged to administrative
expenses in the statements of comprehensive income.
The principal annual rates used for this purpose are:
%
Computer hardware
25\u201333
Fixtures and fittings
10\u201333
Motor vehicles
25\u201333
Leasehold improvements
10\u201333
Intangible assets
Intangible assets are stated at cost, net of accumulated
amortisation and any impairment in value. The cost of
internally developed software is the attributable salary
costs and directly attributable overheads.
Amortisation is calculated to write off the cost of assets,
less their estimated residual values, on a straight-line
basis over the expected useful economic lives of the
assets concerned over 3 to 4 years. Amortisation is
charged to administration expenses in the statements of
comprehensive income. The principal annual rates used for
this purpose are:
%
Purchased computer software
25\u201333
Impairment of non-financial assets
Non-financial assets are subject to impairment tests whenever
events or changes in circumstances indicate that their carrying
amount may not be recoverable. Where the carrying value of an
asset exceeds its recoverable amount the asset is written down
accordingly. Impairment is charged to administration expenses
in the statements of comprehensive income.
Trade and other receivables
Trade and other receivables are initially recognised at fair
value plus transaction costs and subsequently measured
at amortised cost using the effective interest method, less
provision for impairment.
At each reporting date an amount of impairment is recognised
as lifetime expected credit losses (lifetime ECL\u2019s).
Impairment provisions for trade receivables are recognised
based on the simplified approach within IFRS 9 using
a provision matrix in the determination of the lifetime
expected credit losses (lifetime ECL's). During this process
the probability of the non-payment of the trade receivables
is assessed.
Lifetime ECL\u2019s are calculated using a provision matrix that
groups trade receivables according to the time past due, and
at provision rates based on historical observed default rates,
adjusted for forward looking estimates affecting the Group\u2019s
clients. At every reporting date, the historical observed
default rates and forward-looking estimates are updated.
Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand and
highly liquid interest-bearing securities with maturities of three
months or less subject to insignificant risk of changes in value.
Trade and other payables
Trade and other payables are recognised initially at fair value
and subsequently measured at amortised cost using the
effective interest method.
Leases
The Group as Lessee:
All leasing arrangements, where the Group is the lessee
(defined as leases that last more than one year or of a high
value), are recognised as a lease liability and corresponding
right-of-use asset.
Lease liability:
The lease liability is calculated as the discounted total fixed
payments for the lease term, termination payments, exercise
price of purchase options, residual value guarantee and
certain variable payments. An interest charge is recognised
in the statement of comprehensive income on the lease
liability at an incremental borrowing rate. The lease liability is
presented across separate lines (current and non-current)
in the statement of financial position. The lease liability
increases to reflect the interest charge on the lease liability,
at an incremental borrowing rate. The lease liability reduces
over the period of the lease as payments are made. The lease
liability is re-calculated if there is a modification, a change in
the lease term, a change in the lease payments or a change in
the assessment to purchase the underlying assets.
Right-of-use assets:
The right-of-use asset is calculated as the original lease
liability, initial direct costs and amounts paid upfront.
The right of use asset is subsequently measured at
cost less accumulated amortisation. The amortisation is
charged on a straight-line basis over the life of the lease
to the administrative expenses within the statements of
comprehensive income.
Foreign currencies
Assets and liabilities expressed in foreign currencies are
translated into sterling at the exchange rate ruling on the
date of the statement of financial position. Transactions
in foreign currencies are recorded at the exchange rate
ruling as at the date of the transaction. All differences on
exchange are taken to the statement of comprehensive
income in the year in which they arise.
Revenue
Revenue recognised in any financial period is based on the
delivery of performance obligations and an assessment
of when control is transferred to the customer. Revenue is
either recognised at a \u2018point in time\u2019 when a performance
obligation has been performed, or \u2018over time\u2019 as control of
the performance obligation is transferred to the customer.
The majority of the Group\u2019s revenue is derived from the provision of services under time and materials contracts. Typically, contracts are long-term and greater than one year, and work streams are managed by individual statements of work within that contract up to and sometimes exceeding the contract value, where this has been agreed with the customer. Performance obligations under such contracts relate to the provision of staff to customers. The transaction price of the performance obligation is determined by reference to charge-out rates and time worked for supplied staff specified in the contract and any recoverable expenses. Since the customer simultaneously receives and consumes the benefits of the Group\u2019s performance obligations under such contracts, revenue is recognised over time based on the agreed charge out rate per contract multiplied by the days worked, which uses a direct measurement of value to the customer of the services transferred to date. Where temporary workers are supplied to customers, the associated revenue is recognised gross (inclusive of the cost of the temporary workers) since the Group is acting as principal. Under IFRS 15, in order to be recognised as principal, there must be a transfer of control from the vendor to the customer. Where the Group provides temporary contractors, the Group is acting as principal since it receives resourcing requirements directly from the customer, has prime responsibility to find suitable candidates and negotiate pay rates with them, and delivers the resources to the client including acceptance that the service provided meets the client\u2019s expectations. In relation to time and materials contracts, the Group has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Group\u2019s performance completed to date. The Group then recognises revenue in the amount to which it has a right to invoice. Revenue from fixed price contracts, which may include software and product development or support contracts, is determined by reference to those fixed prices, agreed at inception of the contract. For fixed price contracts revenue is recognised on an over time basis using the straight-line basis, the input (percentage completion) method or by milestones. Straight line basis is calculated by dividing the agreed value over the number of periods covered. Percentage completion is calculated as the total hours worked as at the statement of financial position date divided by the total expected hours to be worked to complete the project. Milestones are set deliverables or time-based and are agreed at inception of the contract. Revenue for permanent recruitment services is based on a percentage of a successful candidate\u2019s remuneration package, as agreed with the customer at inception of the contract. Revenue is recognised at a point in time when the performance obligation has been satisfied which is deemed to be at the time the candidate commences employment and subject to a provision for clawback of fees for candidates that leave prior to the notice period ending. Revenue and the cost of sale from licences are recognised on a net basis as the Group is acting as agent in a transaction. The Group enters into a distinct contract with a client for the licences. The Group acts as a reseller and the client is bound by the terms and conditions of the end user agreement of the licence provider. As control of the licences are transferred to the client at contract agreement, the Group is acting as agent which enables the recognition of revenue at the point of transaction. The Company has taken advantage of the practical exemption not to disclose the value of unfilled performance obligations as the contracts ongoing at the period end are for less than 12 months. Taxation The charge for taxation is based on the profit or loss for the year as adjusted for disallowable items. It is calculated using tax rates that have been enacted or substantively enacted by the statement of financial position date. Full provision is made for deferred tax on all temporary differences resulting from the difference between the carrying value of an asset or liability and its tax base, and on tax losses carried forward indefinitely. Deferred tax assets are recognised to the extent that it is probable that the deferred tax asset will be recovered in the foreseeable future based on taxable profits being available against which the difference can be utilised. Deferred tax is calculated at the tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply to the period when the asset is realised or liability is settled. Pension costs Defined contribution plans are charged to the statements of comprehensive income as an expense.
Share-based payments
Equity-settled, share-based incentive arrangements are provided
to employees under the Group\u2019s share option and conditional
share incentive award scheme. Both awards granted to
employees are based on fair value at the date of grant using an
appropriate option pricing model and are charged to operating
profit over the performance or vesting period of the scheme. The
annual charge is not modified for shares lapsed but is modified
to take account of shares forfeited by employees who leave
during the performance or vesting period and, in the case of
non-market related performance conditions, where it becomes
unlikely the option will vest.
Provisions
A provision is recognised when the Group has a legal or
constructive obligation as a result of a past event and it is
probable that an outflow of economic benefits will be required
to settle the obligation. If the effect is material, expected
future cash flows are discounted using a current pre-tax rate
that reflects current market assessments of the time value of
money and risks specific to the liability. Calculations of these
provisions require judgements to be made. The Group has
provided for property dilapidation as detailed in note 19.
Dividends
Dividends are recognised in the financial statements when they
become legally payable. In the case of interim dividends, this is
when declared by the Directors. Final dividends become payable
when they have been approved by shareholders at the AGM.
New standards and interpretations
A number of amendments to existing standards have been
issued but which are not yet mandatory, and have not been
adopted by the Group and Parent Company in these financial
statements. The Directors do not anticipate that their
adoption in future periods will have a material impact on the
financial statements of the Group and Parent Company.
The Group and Parent Company has also considered the
following standards and amendments to published standards
which are effective for periods on or after 1 January 2025,
and concluded they do not have a material impact upon the
financial statements:
\u2022
Amendments to IFRS 9: Classification and
Measurement of Financial Instruments
\u2022
Amendments to IFRS 9 and IFRS 7: Contracts
Referencing Nature-dependent Electricity
\u2022
Amendments to IFRS 19: Subsidiaries without Public
Accountability
The Group intends to apply the new standard from
1 January 2027:
\u2022
Amendments to IFRS 18, Presentation and Disclosure
in Financial Statements.
Statements of cash flows
Deposit interest received is derived from short-term
and typically overnight interest-bearing accounts and is
generated as a consequence of excess cash balances and
is therefore classified within operating activities. Finance
lease interest received is generated by the recognition of a
finance lease receivable associated with a sub-tenant in one
property and is therefore classified as an investing activity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-203": { "value": "Basis of preparation for Group and Parent Company The material accounting policies adopted in the preparation of the financial statements are set out below. The policies have been consistently applied to all the years presented, unless otherwise stated. These financial statements have been prepared in accordance with UK adopted International Accounting Standards and the provisions of the Companies Act 2006. These financial statements have been prepared on a historical cost basis and are presented in pounds sterling, generally rounded to the nearest thousand, the presentational currency of the Group. The functional currency of the Parent Company is pounds sterling. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-244": { "value": "These financial statements have been prepared in accordance with UK adopted International Accounting Standards and the provisions of the Companies Act 2006. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-245": { "value": "These financial statements have been prepared on a historical cost basis and are presented in pounds sterling, generally rounded to the nearest thousand, the presentational currency of the Group. The functional currency of the Parent Company is pounds sterling. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-204": { "value": "Going concern The Group\u2019s business activities (including the Parent Company), together with the factors likely to affect its future development, performance and position, are set out in the Strategic report. The financial position of the Group, its cash flows, liquidity position and available working capital are described in the Strategic report. In addition, note 3 to the financial statements includes the Group\u2019s objectives, policies and processes for managing its capital, its financial risk management objectives, details of its financial instruments and its exposure to credit risk and liquidity risk. The Group meets its day to day working capital requirements through cash reserves. The Group operates an efficient low-cost operating model. The client base generally consists of large blue-chip entities, particularly within the public sector, enjoying long-term and productive client relationships. As such, debtor recovery has been reliable and predictable with no exposure to bad debts. For the year ended 31 March 2026, the Group has not utilised, nor anticipates prospectively utilising, any external debt or financing instruments. The going concern assessment considered a number of realistic scenarios covering the period ending 30 September 2027, including the ability of future client acquisition, and the impact of the reduction in services of key clients upon future cash flows. In addition, the most severe scenario possible modelled, assumed all current client contracts discontinued at expiry with no extension or replacement and with no cost mitigation. Even in this most extreme scenario, the Group has enough liquidity and long-term contracts to support the business through the going concern period. The Directors have concluded from these assessments that the Group would have sufficient headroom in cash balances to continue in operation. After making enquiries, including a review of the wider economy including inflationary pressures, the impact of Governmental instability, geopolitical events and global tariffs impacting the wider economy, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and at least twelve months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-205": { "value": "Basis of consolidation Where the Company has control over an investee, it is classified as a subsidiary. The Company controls an investee if all three of the following elements are present: power over the investee, exposure to variable returns from the investee and the ability of the investor to use its power to affect those variable returns. The consolidated financial statements present the results of the Company and its subsidiaries (\u201cthe Group\u201d) as if they formed a single entity. Intercompany transactions and balances between Group companies are therefore eliminated in full. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-246": { "value": "Property, plant and equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and any impairment in value. Depreciation is calculated as to write off the cost of assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. Depreciation is charged to administrative expenses in the statements of comprehensive income. The principal annual rates used for this purpose are:
%
Computer hardware
25\u201333
Fixtures and fittings
10\u201333
Motor vehicles
25\u201333
Leasehold improvements
10\u201333
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-206": { "value": "Property, plant and equipment Property, plant and equipment are stated at cost, net of accumulated depreciation and any impairment in value. Depreciation is calculated as to write off the cost of assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. Depreciation is charged to administrative expenses in the statements of comprehensive income. The principal annual rates used for this purpose are:
%
Computer hardware
25\u201333
Fixtures and fittings
10\u201333
Motor vehicles
25\u201333
Leasehold improvements
10\u201333
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-243": { "value": "Intangible assets Intangible assets are stated at cost, net of accumulated amortisation and any impairment in value. The cost of internally developed software is the attributable salary costs and directly attributable overheads. Amortisation is calculated to write off the cost of assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned over 3 to 4 years. Amortisation is charged to administration expenses in the statements of comprehensive income. The principal annual rates used for this purpose are:
%
Purchased computer software
25\u201333
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-207": { "value": "Intangible assets Intangible assets are stated at cost, net of accumulated amortisation and any impairment in value. The cost of internally developed software is the attributable salary costs and directly attributable overheads. Amortisation is calculated to write off the cost of assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned over 3 to 4 years. Amortisation is charged to administration expenses in the statements of comprehensive income. The principal annual rates used for this purpose are:
%
Purchased computer software
25\u201333
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-247": { "value": "Impairment of non-financial assets Non-financial assets are subject to impairment tests whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Where the carrying value of an asset exceeds its recoverable amount the asset is written down accordingly. Impairment is charged to administration expenses in the statements of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-208": { "value": "Impairment of non-financial assets Non-financial assets are subject to impairment tests whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Where the carrying value of an asset exceeds its recoverable amount the asset is written down accordingly. Impairment is charged to administration expenses in the statements of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-209": { "value": "Trade and other receivables Trade and other receivables are initially recognised at fair value plus transaction costs and subsequently measured at amortised cost using the effective interest method, less provision for impairment. At each reporting date an amount of impairment is recognised as lifetime expected credit losses (lifetime ECL\u2019s). Impairment provisions for trade receivables are recognised based on the simplified approach within IFRS 9 using a provision matrix in the determination of the lifetime expected credit losses (lifetime ECL's). During this process the probability of the non-payment of the trade receivables is assessed. Lifetime ECL\u2019s are calculated using a provision matrix that groups trade receivables according to the time past due, and at provision rates based on historical observed default rates, adjusted for forward looking estimates affecting the Group\u2019s clients. At every reporting date, the historical observed default rates and forward-looking estimates are updated. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-211": { "value": "Cash and cash equivalents Cash and cash equivalents include cash at bank and in hand and highly liquid interest-bearing securities with maturities of three months or less subject to insignificant risk of changes in value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-210": { "value": "Trade and other payables Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-212": { "value": "Leases The Group as Lessee: All leasing arrangements, where the Group is the lessee (defined as leases that last more than one year or of a high value), are recognised as a lease liability and corresponding right-of-use asset. Lease liability: The lease liability is calculated as the discounted total fixed payments for the lease term, termination payments, exercise price of purchase options, residual value guarantee and certain variable payments. An interest charge is recognised in the statement of comprehensive income on the lease liability at an incremental borrowing rate. The lease liability is presented across separate lines (current and non-current) in the statement of financial position. The lease liability increases to reflect the interest charge on the lease liability, at an incremental borrowing rate. The lease liability reduces over the period of the lease as payments are made. The lease liability is re-calculated if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment to purchase the underlying assets. Right-of-use assets: The right-of-use asset is calculated as the original lease liability, initial direct costs and amounts paid upfront. The right of use asset is subsequently measured at cost less accumulated amortisation. The amortisation is charged on a straight-line basis over the life of the lease to the administrative expenses within the statements of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-213": { "value": "Foreign currencies Assets and liabilities expressed in foreign currencies are translated into sterling at the exchange rate ruling on the date of the statement of financial position. Transactions in foreign currencies are recorded at the exchange rate ruling as at the date of the transaction. All differences on exchange are taken to the statement of comprehensive income in the year in which they arise. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-214": { "value": "Revenue Revenue recognised in any financial period is based on the delivery of performance obligations and an assessment of when control is transferred to the customer. Revenue is either recognised at a \u2018point in time\u2019 when a performance obligation has been performed, or \u2018over time\u2019 as control of the performance obligation is transferred to the customer.
The majority of the Group\u2019s revenue is derived from the
provision of services under time and materials contracts.
Typically, contracts are long-term and greater than
one year, and work streams are managed by individual
statements of work within that contract up to and
sometimes exceeding the contract value, where this has
been agreed with the customer. Performance obligations
under such contracts relate to the provision of staff to
customers. The transaction price of the performance
obligation is determined by reference to charge-out rates
and time worked for supplied staff specified in the contract
and any recoverable expenses. Since the customer
simultaneously receives and consumes the benefits of the
Group\u2019s performance obligations under such contracts,
revenue is recognised over time based on the agreed
charge out rate per contract multiplied by the days worked,
which uses a direct measurement of value to the customer
of the services transferred to date.
Where temporary workers are supplied to customers, the
associated revenue is recognised gross (inclusive of the
cost of the temporary workers) since the Group is acting
as principal. Under IFRS 15, in order to be recognised
as principal, there must be a transfer of control from
the vendor to the customer. Where the Group provides
temporary contractors, the Group is acting as principal
since it receives resourcing requirements directly from
the customer, has prime responsibility to find suitable
candidates and negotiate pay rates with them, and delivers
the resources to the client including acceptance that the
service provided meets the client\u2019s expectations.
In relation to time and materials contracts, the Group has
a right to consideration from a customer in an amount that
corresponds directly with the value to the customer of the
Group\u2019s performance completed to date. The Group then
recognises revenue in the amount to which it has a right
to invoice.
Revenue from fixed price contracts, which may include
software and product development or support contracts,
is determined by reference to those fixed prices, agreed
at inception of the contract. For fixed price contracts
revenue is recognised on an over time basis using the
straight-line basis, the input (percentage completion)
method or by milestones. Straight line basis is calculated
by dividing the agreed value over the number of periods
covered. Percentage completion is calculated as the total
hours worked as at the statement of financial position
date divided by the total expected hours to be worked to
complete the project. Milestones are set deliverables or
time-based and are agreed at inception of the contract.
Revenue for permanent recruitment services is based on
a percentage of a successful candidate\u2019s remuneration
package, as agreed with the customer at inception of the
contract. Revenue is recognised at a point in time when the
performance obligation has been satisfied which is deemed
to be at the time the candidate commences employment
and subject to a provision for clawback of fees for
candidates that leave prior to the notice period ending.
Revenue and the cost of sale from licences are recognised
on a net basis as the Group is acting as agent in a
transaction. The Group enters into a distinct contract with
a client for the licences. The Group acts as a reseller and
the client is bound by the terms and conditions of the end
user agreement of the licence provider. As control of the
licences are transferred to the client at contract agreement,
the Group is acting as agent which enables the recognition
of revenue at the point of transaction.
The Company has taken advantage of the practical
exemption not to disclose the value of unfilled performance
obligations as the contracts ongoing at the period end are
for less than 12 months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-215": { "value": "
Taxation
The charge for taxation is based on the profit or loss for
the year as adjusted for disallowable items. It is calculated
using tax rates that have been enacted or substantively
enacted by the statement of financial position date.
Full provision is made for deferred tax on all temporary
differences resulting from the difference between the
carrying value of an asset or liability and its tax base, and
on tax losses carried forward indefinitely. Deferred tax
assets are recognised to the extent that it is probable
that the deferred tax asset will be recovered in the
foreseeable future based on taxable profits being available
against which the difference can be utilised. Deferred
tax is calculated at the tax rates that have been enacted
or substantively enacted by the reporting date and are
expected to apply to the period when the asset is realised
or liability is settled.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-248": { "value": "Taxation The charge for taxation is based on the profit or loss for the year as adjusted for disallowable items. It is calculated using tax rates that have been enacted or substantively enacted by the statement of financial position date. Full provision is made for deferred tax on all temporary differences resulting from the difference between the carrying value of an asset or liability and its tax base, and on tax losses carried forward indefinitely. Deferred tax assets are recognised to the extent that it is probable that the deferred tax asset will be recovered in the foreseeable future based on taxable profits being available against which the difference can be utilised. Deferred tax is calculated at the tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply to the period when the asset is realised or liability is settled. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-216": { "value": "
Pension costs
Defined contribution plans are charged to the statements
of comprehensive income as an expense.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-217": { "value": "Share-based payments Equity-settled, share-based incentive arrangements are provided to employees under the Group\u2019s share option and conditional share incentive award scheme. Both awards granted to employees are based on fair value at the date of grant using an appropriate option pricing model and are charged to operating profit over the performance or vesting period of the scheme. The annual charge is not modified for shares lapsed but is modified to take account of shares forfeited by employees who leave during the performance or vesting period and, in the case of non-market related performance conditions, where it becomes unlikely the option will vest. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-218": { "value": "Provisions A provision is recognised when the Group has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, expected future cash flows are discounted using a current pre-tax rate that reflects current market assessments of the time value of money and risks specific to the liability. Calculations of these provisions require judgements to be made. The Group has provided for property dilapidation as detailed in note 19. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-219": { "value": "Dividends Dividends are recognised in the financial statements when they become legally payable. In the case of interim dividends, this is when declared by the Directors. Final dividends become payable when they have been approved by shareholders at the AGM. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-270": { "value": "New standards and interpretations A number of amendments to existing standards have been issued but which are not yet mandatory, and have not been adopted by the Group and Parent Company in these financial statements. The Directors do not anticipate that their adoption in future periods will have a material impact on the financial statements of the Group and Parent Company. The Group and Parent Company has also considered the following standards and amendments to published standards which are effective for periods on or after 1 January 2025, and concluded they do not have a material impact upon the financial statements: \u2022 Amendments to IFRS 9: Classification and Measurement of Financial Instruments \u2022 Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity \u2022 Amendments to IFRS 19: Subsidiaries without Public Accountability The Group intends to apply the new standard from 1 January 2027: \u2022 Amendments to IFRS 18, Presentation and Disclosure in Financial Statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-249": { "value": "New standards and interpretations A number of amendments to existing standards have been issued but which are not yet mandatory, and have not been adopted by the Group and Parent Company in these financial statements. The Directors do not anticipate that their adoption in future periods will have a material impact on the financial statements of the Group and Parent Company. The Group and Parent Company has also considered the following standards and amendments to published standards which are effective for periods on or after 1 January 2025, and concluded they do not have a material impact upon the financial statements: \u2022 Amendments to IFRS 9: Classification and Measurement of Financial Instruments \u2022 Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity \u2022 Amendments to IFRS 19: Subsidiaries without Public Accountability The Group intends to apply the new standard from 1 January 2027: \u2022 Amendments to IFRS 18, Presentation and Disclosure in Financial Statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-220": { "value": "New standards and interpretations A number of amendments to existing standards have been issued but which are not yet mandatory, and have not been adopted by the Group and Parent Company in these financial statements. The Directors do not anticipate that their adoption in future periods will have a material impact on the financial statements of the Group and Parent Company. The Group and Parent Company has also considered the following standards and amendments to published standards which are effective for periods on or after 1 January 2025, and concluded they do not have a material impact upon the financial statements: \u2022 Amendments to IFRS 9: Classification and Measurement of Financial Instruments \u2022 Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity \u2022 Amendments to IFRS 19: Subsidiaries without Public Accountability The Group intends to apply the new standard from 1 January 2027: \u2022 Amendments to IFRS 18, Presentation and Disclosure in Financial Statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-221": { "value": "Statements of cash flows Deposit interest received is derived from short-term and typically overnight interest-bearing accounts and is generated as a consequence of excess cash balances and is therefore classified within operating activities. Finance lease interest received is generated by the recognition of a finance lease receivable associated with a sub-tenant in one property and is therefore classified as an investing activity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-222": { "value": "
2. Critical accounting estimates and
judgements
Estimates and judgements are continually evaluated based on
historical experience and other factors, including expectations
of future events that are believed to be reasonable under the
circumstances. The Group makes estimates and assumptions
concerning the future. The resulting accounting estimates will, by
definition, seldom equal the related actual results. The estimates
and assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within
the next financial year are discussed below.
Key judgements and sources of estimation uncertainty
IFRS 16 leases
A right-of-use asset of \u00a30.2m (2025: \u00a30.2m) and a total
lease liability of \u00a30.4m (2025: \u00a30.5m) have been recognised
in accordance with the accounting policies on page 49 with
respect to IFRS 16 \u2018Leases\u2019. The Directors have made the
following critical accounting estimates and judgements in relation
to these balances:
\u2022
Lease term: The Directors are of the opinion that
property lease assets and liabilities should generally
be calculated with relation to the first available break
date as the expectation is that the lease break may be
taken. During the lease break review period, trading
and market conditions will be taken into account and
assets and liabilities will be calculated.
\u2022
Impairment of the Right of Use asset. During the year
ended 31 March 2025, the Parent Company terminated
the sub-leasing arrangement with a tenant and at
31 March 2025 a Right of Use asset of \u00a3382k had
been reinstated and impaired by the same amount.
The Directors\u2019 opinion is that in the absence of a
new tenant and hence vacant property, the asset is
impaired, and this will be reviewed when a new tenant
is found.
\u2022
Incremental borrowing rate (IBR): The Directors
have calculated the IBR at 5.0%, based upon readily
available credit facilities and Bank of England base
rate, covering a time frame commensurate with the
time to the first available break date. Would the IBR
calculation at inception of the leases have increased
by 20% (100 basis points or 1%) to 6.0%, then at the
balance sheet date the Right of Use asset would
reduce by \u00a310k to \u00a3156k and the lease liability would
reduce by \u00a35k to \u00a3345k.
Dilapidation provisions:
The Directors have recognised a dilapidation provision for
both the leases held totalling \u00a3330k (2025: \u00a3300k). The
provision is required to recognise the best estimate of costs
at the balance sheet date of restoring the properties to their
original state at the end of the lease period as a consequence
of wear and tear during tenancy, as required under the lease
obligations. The provision has been calculated based upon
industry accepted current averages on floor space by price
per square meter and the Directors\u2019 experience with the
landlords, as well as experience in similar negotiations. Should
the average price per square metre vary by 20% the provision
required would increase or decrease by \u00a366k.
Deferred taxation:
The Directors have recognised a deferred tax asset of
\u00a3392k (2025: \u00a31,042k). This asset is recognised based upon
the following:
\u2022
Corporation tax losses brought forward: It is expected
that corporation tax losses brought forward will be
utilised against future probable taxable profits. The
Directors have based this upon an estimation of the
level of taxable profits in the proceeding 3 years. If
the estimated future taxable profits varies by 20% the
deferred tax asset would increase or decrease by \u00a3117k.
A plausible downside case of taxable profits was also
modelled which included reduced sales and increased
costs; this downside case modelling showed that the
deferred tax asset would still be recovered within the next
3 years at the asset as of 31 March 2026 of \u00a3392k.
Operating Segment
The Directors consider that there is only a single operating
segment of the entity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-223": { "value": "
3. Financial risk management
There have been no substantive changes in the Group's
exposure to financial instrument risks, its objectives,
policies and processes for managing those risks or the
methods used to measure them from previous periods
unless otherwise stated in this note.
The Group uses financial instruments that are necessary to
facilitate its ordinary purchase and sale activities, namely
cash and trade payables and receivables: the resultant risks
are foreign exchange risk, interest rate risk, credit risk and
liquidity risk. The Group does not use financial derivatives in
its management of these risks.
The Board reviews and agrees policies for managing these
risks and they are summarised below. These policies are
consistent with last year.
3.1 Financial risk factors
Foreign exchange risk
There are a small number of routine trading contracts with both
suppliers and clients in euros. In all such circumstances the
contracts with supplier and client will be in the same currency
thereby mitigating the Group\u2019s exposure to movements in
exchange rates. Payments and receipts are made through
a bank account in the currency of the contract therefore
balances held in any foreign currency are to facilitate day to day
transactions. With the trading Company\u2019s functional currency of
sterling there are the following foreign currency net assets:
Group and Parent Company Note 2026 2025
\u00a3'000 \u00a3'000
Currency: Euros
Cash and cash equivalents
17
\u2013 1
Trade and other receivables
16
12
\u2013
Trade and other payables
18
\u2013
\u2013
12 1
Any changes in foreign exchange rates would not have a
significant impact on the results of the Group.
Interest rate risk
Cash balances are held on deposit from time to time
overnight in short-term interest-bearing accounts,
repayable on demand: these attract interest rates which
fluctuate in relation to movements in bank base rate. This
maintains liquidity and does not commit the Group to long
term deposits at fixed rates of interest.
There were no borrowings, aside from lease liabilities
arising from the application of IFRS 16, during the year.
Credit risk
Credit risk is the risk of financial loss to the Group if a
customer or counterparty to a financial instrument fails
to meet its contractual obligations. The Group is mainly
exposed to credit risk from credit sales. It is Group policy to
assess the credit risk of new customers before entering into
contracts. Each new customer is assessed, using external
ratings and relevant information in the public domain before
any credit limit is granted. In addition, trade receivables
balances are monitored on a regular basis to minimise
exposure to credit losses. There was no charge to the
income statement during the year (2025: no charge to the
income statement).
The Group is also exposed to credit risk from contract
assets, being revenue earned but not yet invoiced (note 16).
The Group also has credit risk from cash deposits with
banks (note 17).
The Group\u2019s maximum exposure to credit risk is based on the
following undiscounted financial assets measured at amortised
cost based on disclosure requirements per IFRS 7.8:
Group and Parent Company Note 2026 2025
\u00a3'000 \u00a3'000
Finance lease receivable
14
\u2013 \u2013
Trade receivables
16
2,960 2,995
Contract assets
16
57
132
Other debtors
16
\u2013
448
Cash and cash equivalents
17
4,175 3,372
Total financial assets 7,192 6,947
Liquidity risk
The Group\u2019s liquidity risk arises from its management of
working capital. The Board receives regular cash flow
and working capital projections to enable it to monitor its
cash flow. At the statement of financial position date these
projections indicated that the Group expected to have
sufficient liquid resources to meet its reasonably expected
obligations. Maturity of financial liabilities is set out in note 18.
Capital risk management
The Group\u2019s capital comprises of shareholders\u2019 equity. Its
objectives when managing capital are to safeguard the Group\u2019s
ability to continue as a going concern in order to maximise
shareholder value. To maintain or adjust the capital structure
the Group may adjust the dividend payment to shareholders,
return capital to shareholders, issue new shares or alter the
level of borrowings.
3.2 Fair value estimation
The carrying value of financial assets and liabilities
approximate their fair values.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-250": { "value": "Foreign exchange risk There are a small number of routine trading contracts with both suppliers and clients in euros. In all such circumstances the contracts with supplier and client will be in the same currency thereby mitigating the Group\u2019s exposure to movements in exchange rates. Payments and receipts are made through a bank account in the currency of the contract therefore balances held in any foreign currency are to facilitate day to day transactions. With the trading Company\u2019s functional currency of sterling there are the following foreign currency net assets:
Group and Parent Company Note 2026 2025
\u00a3'000 \u00a3'000
Currency: Euros
Cash and cash equivalents
17
\u2013 1
Trade and other receivables
16
12
\u2013
Trade and other payables
18
\u2013
\u2013
12 1
Any changes in foreign exchange rates would not have a significant impact on the results of the Group. Interest rate risk Cash balances are held on deposit from time to time overnight in short-term interest-bearing accounts, repayable on demand: these attract interest rates which fluctuate in relation to movements in bank base rate. This maintains liquidity and does not commit the Group to long term deposits at fixed rates of interest. There were no borrowings, aside from lease liabilities arising from the application of IFRS 16, during the year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-252": { "value": "Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Group is mainly exposed to credit risk from credit sales. It is Group policy to assess the credit risk of new customers before entering into contracts. Each new customer is assessed, using external ratings and relevant information in the public domain before any credit limit is granted. In addition, trade receivables balances are monitored on a regular basis to minimise exposure to credit losses. There was no charge to the income statement during the year (2025: no charge to the income statement). The Group is also exposed to credit risk from contract assets, being revenue earned but not yet invoiced (note 16). The Group also has credit risk from cash deposits with banks (note 17). The Group\u2019s maximum exposure to credit risk is based on the following undiscounted financial assets measured at amortised cost based on disclosure requirements per IFRS 7.8:
Group and Parent Company Note 2026 2025
\u00a3'000 \u00a3'000
Finance lease receivable
14
\u2013 \u2013
Trade receivables
16
2,960 2,995
Contract assets
16
57
132
Other debtors
16
\u2013
448
Cash and cash equivalents
17
4,175 3,372
Total financial assets 7,192 6,947
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-251": { "value": "Liquidity risk The Group\u2019s liquidity risk arises from its management of working capital. The Board receives regular cash flow and working capital projections to enable it to monitor its cash flow. At the statement of financial position date these projections indicated that the Group expected to have sufficient liquid resources to meet its reasonably expected obligations. Maturity of financial liabilities is set out in note 18. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-253": { "value": "Capital risk management The Group\u2019s capital comprises of shareholders\u2019 equity. Its objectives when managing capital are to safeguard the Group\u2019s ability to continue as a going concern in order to maximise shareholder value. To maintain or adjust the capital structure the Group may adjust the dividend payment to shareholders, return capital to shareholders, issue new shares or alter the level of borrowings. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-271": { "value": "3.2 Fair value estimation The carrying value of financial assets and liabilities approximate their fair values.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-254": { "value": "3.2 Fair value estimation The carrying value of financial assets and liabilities approximate their fair values.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-224": { "value": "
4. Revenue
The Group operates solely in the UK. All material revenues are generated in the UK.
The largest single customer contributed 22% of Group revenue (2025: 24%) and was in the public sector. Three other
customers, all in the public sector, contributed more than 10% of Group revenue (2025: five, all in the public sector).
Disaggregation of revenue
In accordance with IFRS 15, the Group disaggregates revenue by contract type as the Directors believe this best depicts how
the nature, timing and uncertainty of the Group\u2019s revenue and cash flows are affected by economic factors. Accordingly, the
following table disaggregates the Group\u2019s revenue by contract type:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Time and materials
24,585
21,114
Fixed price 200 276
Licences
\u2013
31
24,785
21,421
The Group also disaggregates revenue by operating sector reflecting the different commercial risks (e.g. credit risk) associated
with each.
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Public sector 23,848 20,043
Private sector
937
1,378
24,785
21,421
Contract balances
For all contracts, the Group recognises a contract liability to the extent that payments made are greater than the revenue
recognised at the period end date. When payments are made less than the revenue recognised at the period end date and have
not yet been invoiced to the client, the Group recognises a contract asset for the difference.
Contract assets and contract liabilities are included within \u2018trade and other receivables\u2019 and \u2018trade and other payables\u2019
respectively on the face of the statement of financial position.
Contract assets
Contract liabilities
Group and Parent Company 2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
\u00a3\u2019000
At 1 April 132 203 (124) (68)
Transfers in the period from contract assets to trade receivables
(132)
(203)
\u2013
\u2013
Excess of revenue recognised over cash (or right to cash) being
recognised in the period
57 132 \u2013 \u2013
Amounts included in contract liabilities that was recognised as
revenue in the period
\u2013 \u2013 124 68
Cash received in advance of performance and not recognised as
revenue in the period
\u2013
\u2013
(59)
(124)
At 31 March 57 132 (59) (124)
There is no expectation of a material expected lifetime credit loss arising in relation to contract assets.
No contracts (2025: 1) have both contract assets and liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-255": { "value": "4. Revenue The Group operates solely in the UK. All material revenues are generated in the UK. The largest single customer contributed 22% of Group revenue (2025: 24%) and was in the public sector. Three other customers, all in the public sector, contributed more than 10% of Group revenue (2025: five, all in the public sector). Disaggregation of revenue In accordance with IFRS 15, the Group disaggregates revenue by contract type as the Directors believe this best depicts how the nature, timing and uncertainty of the Group\u2019s revenue and cash flows are affected by economic factors. Accordingly, the following table disaggregates the Group\u2019s revenue by contract type:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Time and materials
24,585
21,114
Fixed price 200 276
Licences
\u2013
31
24,785
21,421
The Group also disaggregates revenue by operating sector reflecting the different commercial risks (e.g. credit risk) associated with each.
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Public sector 23,848 20,043
Private sector
937
1,378
24,785
21,421
Contract balances For all contracts, the Group recognises a contract liability to the extent that payments made are greater than the revenue recognised at the period end date. When payments are made less than the revenue recognised at the period end date and have not yet been invoiced to the client, the Group recognises a contract asset for the difference. Contract assets and contract liabilities are included within \u2018trade and other receivables\u2019 and \u2018trade and other payables\u2019 respectively on the face of the statement of financial position.
Contract assets
Contract liabilities
Group and Parent Company 2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
\u00a3\u2019000
At 1 April 132 203 (124) (68)
Transfers in the period from contract assets to trade receivables
(132)
(203)
\u2013
\u2013
Excess of revenue recognised over cash (or right to cash) being
recognised in the period
57 132 \u2013 \u2013
Amounts included in contract liabilities that was recognised as
revenue in the period
\u2013 \u2013 124 68
Cash received in advance of performance and not recognised as
revenue in the period
\u2013
\u2013
(59)
(124)
At 31 March 57 132 (59) (124)
There is no expectation of a material expected lifetime credit loss arising in relation to contract assets. No contracts (2025: 1) have both contract assets and liabilities.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-256": { "value": "
5. Other Income
2026 2025
\u00a3'000 \u00a3'000
Dilapidations income
\u2013
78
Lease settlement income (note 14) \u2013 382
Total other income \u2013 460
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-225": { "value": "5. Other Income
2026 2025
\u00a3'000 \u00a3'000
Dilapidations income
\u2013
78
Lease settlement income (note 14) \u2013 382
Total other income \u2013 460
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-226": { "value": "
6. Profit from operations
2026 2025
\u00a3'000 \u00a3'000
Profit from operations is stated after charging:
Depreciation of owned assets (note 13)
60
69
Amortisation of right of use assets (note 14) 82 141
Impairment of right of use assets (note 14)
\u2013
382
Auditor remuneration:
Audit of financial statements: Group and Parent Company 146 151
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-272": { "value": "6. Profit from operations
2026 2025
\u00a3'000 \u00a3'000
Profit from operations is stated after charging:
Depreciation of owned assets (note 13)
60
69
Amortisation of right of use assets (note 14) 82 141
Impairment of right of use assets (note 14)
\u2013
382
Auditor remuneration:
Audit of financial statements: Group and Parent Company 146 151
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-257": { "value": "6. Profit from operations
2026 2025
\u00a3'000 \u00a3'000
Profit from operations is stated after charging:
Depreciation of owned assets (note 13)
60
69
Amortisation of right of use assets (note 14) 82 141
Impairment of right of use assets (note 14)
\u2013
382
Auditor remuneration:
Audit of financial statements: Group and Parent Company 146 151
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-227": { "value": "
7. Finance income and expense
Finance income
2026
2025
\u00a3'000 \u00a3'000
Bank interest received
40
51
Finance lease interest received (note 14)
\u2013
6
Total finance income 40 57
Finance expense
2026
2025
\u00a3'000 \u00a3'000
Interest expense on lease liability (note 14)
27
38
Net foreign exchange loss
1
3
Total finance expense 28 41
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-273": { "value": "7. Finance income and expense
Finance income
2026
2025
\u00a3'000 \u00a3'000
Bank interest received
40
51
Finance lease interest received (note 14)
\u2013
6
Total finance income 40 57
Finance expense
2026
2025
\u00a3'000 \u00a3'000
Interest expense on lease liability (note 14)
27
38
Net foreign exchange loss
1
3
Total finance expense 28 41
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-258": { "value": "
Finance income
2026
2025
\u00a3'000 \u00a3'000
Bank interest received
40
51
Finance lease interest received (note 14)
\u2013
6
Total finance income 40 57
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-277": { "value": "
Finance income
2026
2025
\u00a3'000 \u00a3'000
Bank interest received
40
51
Finance lease interest received (note 14)
\u2013
6
Total finance income 40 57
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-259": { "value": "
Finance expense
2026
2025
\u00a3'000 \u00a3'000
Interest expense on lease liability (note 14)
27
38
Net foreign exchange loss
1
3
Total finance expense 28 41
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-278": { "value": "
Finance expense
2026
2025
\u00a3'000 \u00a3'000
Interest expense on lease liability (note 14)
27
38
Net foreign exchange loss
1
3
Total finance expense 28 41
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-228": { "value": "8. Employees and Directors
Group and Parent Company 2026 2025
Number Number
Average number of persons (including Directors) employed during the year
Senior management
11
11
Fee earners 157 131
Sales
7
8
Administration and finance 5 5
180 155
At the year end, the number of permanent fee earners as at 31 March 2026 was 170 (2025: 147). Included in senior management are four non-Board members who may be fee earning from time to time.
Staff costs for the above persons (including Directors) 2026 2025
\u00a3'000 \u00a3'000
Wages and salaries
13,000
10,994
Social security costs 1,766 1,299
Defined contribution pension costs 1,813 1,391
Equity settled share-based payments
\u2013
262
16,579 13,946
2026 2025
\u00a3'000 \u00a3'000
Directors
Emoluments 846 842
Benefits in kind 12 11
Money purchase pension contributions
114
96
Total remuneration 972 949
Social security costs 122 116
1,094 1,065
Three Directors (2025: three) had retirement benefits accruing under money purchase pension schemes. Key management personnel are considered to be the Directors. Further information on Directors\u2019 remuneration can be found on page 27. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-229": { "value": "
9. Taxation
2026 2025
\u00a3'000 \u00a3'000
Deferred tax via profit and loss account
Decrease/(Increase) in recognised deferred tax asset
208
(214)
Total tax charge/(credit) for the year 208 (214)
2026 2025
\u00a3'000 \u00a3'000
Deferred tax via equity
Decrease/(Increase) in recognised deferred tax asset
442
(442)
Total tax charge/(credit) for the year 442 (442)
The differences between the actual tax charge for the year and the standard rate of corporation tax in the UK applied to profits
for the year are as follows:
2026 2025
\u00a3'000 \u00a3'000
Profit before tax 1,909 1,516
Profit before tax multiplied by standard rate of corporation tax in the UK of
25% (2025: 25%)
477 379
Expenses not deductible for tax purposes
6
17
Recognition of a deferred tax asset (5) (150)
Allowances derecognised/(recognised) 2 (24)
Prior year adjustments
(9)
\u2013
Use of brought forward losses
\u2013
(436)
Share-based payment (263) \u2013
Tax charge/(credit) for the year 208 (214)
The following are the deferred tax assets recognised by the Group and movements thereon during the current period:
Tax losses Restricted Other temporary
carried forward stock units differences Tot al
\u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
At beginning of the year
430
608
4
1,042
(Charge)/credit to the profit and
loss account
(51)
(166)
9
(208)
Charge to equity \u2013 (442)
\u2013
(442)
At end of the year
379
\u2013
13
392
Deferred tax assets of \u00a3392k (2025: \u00a31,042k) have been recognised in respect of tax losses, restricted stock units and other
temporary differences where the Directors believe it is probable that the assets will be recovered. This expectation of recovery
is calculated by modelling estimates of future taxable profit forecasts that can be offset with historic trading losses brought
forward. In calculating this taxable profit, forecasts that have been used for both the going concern and viability assessment and
adjustments to taxable profits are taken into consideration.
There are no unrecognised deferred tax assets in respect to trading losses (2025: nil).
Deferred tax assets have not been recognised for potential temporary differences arising from unexercised share options of
\u00a352k (2025: \u00a366k) as the Directors believe it is not certain these assets will be recovered.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-260": { "value": "9. Taxation
2026 2025
\u00a3'000 \u00a3'000
Deferred tax via profit and loss account
Decrease/(Increase) in recognised deferred tax asset
208
(214)
Total tax charge/(credit) for the year 208 (214)
2026 2025
\u00a3'000 \u00a3'000
Deferred tax via equity
Decrease/(Increase) in recognised deferred tax asset
442
(442)
Total tax charge/(credit) for the year 442 (442)
The differences between the actual tax charge for the year and the standard rate of corporation tax in the UK applied to profits for the year are as follows:
2026 2025
\u00a3'000 \u00a3'000
Profit before tax 1,909 1,516
Profit before tax multiplied by standard rate of corporation tax in the UK of
25% (2025: 25%)
477 379
Expenses not deductible for tax purposes
6
17
Recognition of a deferred tax asset (5) (150)
Allowances derecognised/(recognised) 2 (24)
Prior year adjustments
(9)
\u2013
Use of brought forward losses
\u2013
(436)
Share-based payment (263) \u2013
Tax charge/(credit) for the year 208 (214)
The following are the deferred tax assets recognised by the Group and movements thereon during the current period:
Tax losses Restricted Other temporary
carried forward stock units differences Tot al
\u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
At beginning of the year
430
608
4
1,042
(Charge)/credit to the profit and
loss account
(51)
(166)
9
(208)
Charge to equity \u2013 (442)
\u2013
(442)
At end of the year
379
\u2013
13
392
Deferred tax assets of \u00a3392k (2025: \u00a31,042k) have been recognised in respect of tax losses, restricted stock units and other temporary differences where the Directors believe it is probable that the assets will be recovered. This expectation of recovery is calculated by modelling estimates of future taxable profit forecasts that can be offset with historic trading losses brought forward. In calculating this taxable profit, forecasts that have been used for both the going concern and viability assessment and adjustments to taxable profits are taken into consideration. There are no unrecognised deferred tax assets in respect to trading losses (2025: nil). Deferred tax assets have not been recognised for potential temporary differences arising from unexercised share options of \u00a352k (2025: \u00a366k) as the Directors believe it is not certain these assets will be recovered. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-282": { "value": "The following are the deferred tax assets recognised by the Group and movements thereon during the current period:
Tax losses Restricted Other temporary
carried forward stock units differences Tot al
\u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
At beginning of the year
430
608
4
1,042
(Charge)/credit to the profit and
loss account
(51)
(166)
9
(208)
Charge to equity \u2013 (442)
\u2013
(442)
At end of the year
379
\u2013
13
392
Deferred tax assets of \u00a3392k (2025: \u00a31,042k) have been recognised in respect of tax losses, restricted stock units and other temporary differences where the Directors believe it is probable that the assets will be recovered. This expectation of recovery is calculated by modelling estimates of future taxable profit forecasts that can be offset with historic trading losses brought forward. In calculating this taxable profit, forecasts that have been used for both the going concern and viability assessment and adjustments to taxable profits are taken into consideration. There are no unrecognised deferred tax assets in respect to trading losses (2025: nil). Deferred tax assets have not been recognised for potential temporary differences arising from unexercised share options of \u00a352k (2025: \u00a366k) as the Directors believe it is not certain these assets will be recovered. 18. Trade and other payables
Group
Parent Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Trade payables
522
578
522
578
Accruals 513 575 513 575
Owed to subsidiary \u2013 \u2013 5 5
1,035 1,153 1,040 1,158
Contract liabilities (see note 4) 59 124 59 124
Other taxation and social security
1,486
1,642
1,486
1,642
2,580 2,919 2,585 2,924
Analysed as:
Current liability 2,580 2,919 2,585 2,924
Total 2,580 2,919 2,585 2,924
The majority of trade and other payables are settled within three months from the year end. The fair value of trade and other payables approximates closely to their book value. The carrying amount of trade and other payables is denominated in sterling as below:
Group
Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Sterling
1,035
1,153
1,040
1,158
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-281": { "value": "The following are the deferred tax assets recognised by the Group and movements thereon during the current period:
Tax losses Restricted Other temporary
carried forward stock units differences Tot al
\u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
At beginning of the year
430
608
4
1,042
(Charge)/credit to the profit and
loss account
(51)
(166)
9
(208)
Charge to equity \u2013 (442)
\u2013
(442)
At end of the year
379
\u2013
13
392
Deferred tax assets of \u00a3392k (2025: \u00a31,042k) have been recognised in respect of tax losses, restricted stock units and other temporary differences where the Directors believe it is probable that the assets will be recovered. This expectation of recovery is calculated by modelling estimates of future taxable profit forecasts that can be offset with historic trading losses brought forward. In calculating this taxable profit, forecasts that have been used for both the going concern and viability assessment and adjustments to taxable profits are taken into consideration. There are no unrecognised deferred tax assets in respect to trading losses (2025: nil). Deferred tax assets have not been recognised for potential temporary differences arising from unexercised share options of \u00a352k (2025: \u00a366k) as the Directors believe it is not certain these assets will be recovered. 16. Trade and other receivables
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Trade receivables
2,965
3,000
Less: provision for expected credit losses (5) (5)
Trade receivables-net 2,960 2,995
Contract assets (see note 4)
57
132
Other debtors \u2013 448
Trade and other receivables
3,017
3,575
Prepayments 275 200
3,292 3,775
Analysed as:
Current asset 3,292 3,775
Total 3,292 3,775
The fair value of trade and other receivables approximates closely to their book value. As at 31 March 2025 included in other debtors was an amount of \u00a3377k relating to the amounts owed by the recipients of the 2022 RSU award, which would be payable when the corresponding employers national insurance liability of the same amount is finalised and paid to HMRC. During the year, the actual amount crystallised was \u00a3256k and this was received in full from the recipients. An equal amount was paid to HMRC with a nil effect to profit after tax for the year (2025: nil). Trade receivables represent an unconditional right to consideration. The Group applies IFRS 9 in measuring expected credit losses and forward-looking estimates at the close of each reporting period. This is based upon previous experience of losses and forward-looking estimates is consistently applied each year. Trade receivables are written-off when there is no reasonable expectation of recovery. The lifetime expected credit losses on trade receivables as at 31 March 2026 is calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,901
5
Up to 30 days past due
0.20
63
\u2013
Up to 60 days past due
2.50
1
\u2013
Over 60 days past due
5.00
\u2013
\u2013
2,965
5
No provision has been recognised for contract assets and other debtors as they are expected to be fully recovered. The lifetime expected credit losses on trade receivables as at 31 March 2025 were calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,374
4
Up to 30 days past due
0.20
606
1
Up to 60 days past due
2.50
16
\u2013
Over 60 days past due
5.00
4
\u2013
3,000
5
Movements on the provision for expected credit loss are as follows:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
At beginning of the year 5 5
Credited to income statement
\u2013
\u2013
At end of the year (credit loss allowance) 5 5
The carrying amount of the Group\u2019s trade and other receivables are denominated in the following currencies:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Sterling 3,006 3,575
Euros 12 \u2013
3,017
3,575
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-274": { "value": "The following are the deferred tax assets recognised by the Group and movements thereon during the current period:
Tax losses Restricted Other temporary
carried forward stock units differences Tot al
\u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
At beginning of the year
430
608
4
1,042
(Charge)/credit to the profit and
loss account
(51)
(166)
9
(208)
Charge to equity \u2013 (442)
\u2013
(442)
At end of the year
379
\u2013
13
392
Deferred tax assets of \u00a3392k (2025: \u00a31,042k) have been recognised in respect of tax losses, restricted stock units and other temporary differences where the Directors believe it is probable that the assets will be recovered. This expectation of recovery is calculated by modelling estimates of future taxable profit forecasts that can be offset with historic trading losses brought forward. In calculating this taxable profit, forecasts that have been used for both the going concern and viability assessment and adjustments to taxable profits are taken into consideration. There are no unrecognised deferred tax assets in respect to trading losses (2025: nil). Deferred tax assets have not been recognised for potential temporary differences arising from unexercised share options of \u00a352k (2025: \u00a366k) as the Directors believe it is not certain these assets will be recovered. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-230": { "value": "
10. Dividends
2026 2025
\u00a3'000 \u00a3'000
Final dividend for the year ended 31 March 2025 \u2013 4p (2024: 4p) per share (declared and paid
667
667
in the following year)
Interim dividend for the year ended 31 March 2026 \u2013 3p (2025: 2p) per share 523 333
Total dividend paid
1,190
1,000
The Directors propose a final dividend of 6p per share (2025: 4p per share), bringing the total dividend to 9p per share for
the financial year (2025: 6p per share).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-261": { "value": "0.06", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-262": { "value": "0.04", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-231": { "value": "
11. Earnings per ordinary share
Earnings per share have been calculated on the profit for the year divided by the weighted average number of shares in
issue during the period based on the following:
2026 2025
Profit for the year \u00a31,701,000 \u00a31,730,000
Average number of shares in issue
17,145,950
16,665,877
Restricted Stock Units \u2013 vested \u2013 750,000
17,145,950 17,415,877
Effect of dilutive options 76,778 83,857
Average number of shares in issue plus dilutive options 17,222,728 17,499,734
Basic earnings per share 9.92p 9.93p
Diluted earnings per share
9.88p
9.89p
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-232": { "value": "
12. Intangible assets
Group and Parent Company Purchased software
\u00a3'000
Cost
At 31 March 2024
128
Additions
\u2013
Disposals
\u2013
At 31 March 2025
128
Additions
\u2013
Disposals
(82)
At 31 March 2026
46
Accumulated amortisation/impairment
At 31 March 2024
128
Charge for the year
\u2013
Disposals
\u2013
At 31 March 2025
128
Charge for the year
\u2013
Disposals
(82)
At 31 March 2026
46
Net book value
At 31 March 2026
\u2013
At 31 March 2025
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-263": { "value": "12. Intangible assets
Group and Parent Company Purchased software
\u00a3'000
Cost
At 31 March 2024
128
Additions
\u2013
Disposals
\u2013
At 31 March 2025
128
Additions
\u2013
Disposals
(82)
At 31 March 2026
46
Accumulated amortisation/impairment
At 31 March 2024
128
Charge for the year
\u2013
Disposals
\u2013
At 31 March 2025
128
Charge for the year
\u2013
Disposals
(82)
At 31 March 2026
46
Net book value
At 31 March 2026
\u2013
At 31 March 2025
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-233": { "value": "
13. Property, plant and equipment
Group and Parent Company Computer Fixtures Motor Total
hardware & fittings vehicles
\u00a3'000 \u00a3'000 \u00a3'000 \u00a3'000
Cost
At 31 March 2024
277
596
4
877
Additions
38
25
\u2013
63
Disposals
\u2013
(7)
\u2013
(7)
At 31 March 2025
315
614
4
933
Additions
52
5
\u2013
57
Disposals
(121)
(41)
\u2013
(162)
At 31 March 2026
246
578
4
828
Accumulated depreciation
At 31 March 2024
219
481
4
704
Charge for the year
32
37
\u2013
69
Disposals
\u2013
(7)
\u2013
(7)
At 31 March 2025
251
511
4
766
Charge for the year
32
28
\u2013
60
Disposals
(121)
(41)
\u2013
(162)
At 31 March 2026
162
498
4
664
Net book value
At 31 March 2026
84
80
\u2013
164
At 31 March 2025
64
103
\u2013
167
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-234": { "value": "
14. Leases
The Group and Parent Company as a lessee:
The Group has a lease contract for 1 of its office premises with a term remaining of 2 years. The lease liability for this
property has been calculated on the basis of the termination option being taken. There are no other future cash outflows in
relation to the lease to which the Group is potentially exposed. The lease is represented on the balance sheet as a right of
use asset and a lease liability.
During the year ended 31 March 2025, the Parent Company terminated the sub-leasing arrangement with a tenant. As a
result, the finance lease held was extinguished and a right-of-use asset of \u00a3382k was reinstated that has been impaired by
the same amount until a new tenant is established. A suitable tenant is yet to be found and the reinstatement and impairment
is in place as of 31 March 2026.
A lease term with another property expired during the previous year, and the Company is now holding a short-term lease
with this property. Short-term leases are not recognised and expensed to the profit and loss statement.
Right-of-use assets
The carrying amounts of the right-of-use assets are as follows:
Land and buildings
Tota l
\u00a3'000
\u00a3'000
At 31 March 2024
Opening position
389
389
Reinstatement
382
382
Impairment
(382)
(382)
Amortisation
(141)
(141)
At 31 March 2025
248
248
Amortisation
(82)
(82)
At 31 March 2026
166
166
Lease liabilities
The carrying amount of the lease liabilities recognised are as follows:
Land and buildings
Tota l
\u00a3'000
\u00a3'000
At 31 March 2024
Opening position
753
753
Interest expense
38
38
Lease payments
(253)
(253)
At 31 March 2025 538 538
Interest expense
27
27
Lease payments
(215)
(215)
At 31 March 2026 350 350
At the balance sheet date, the Group and Parent Company had outstanding commitments for future lease payments
as follows:
Up to Between Between Between
3 months 3 and 12 months 1 and 2 years 2 and 5 years
At 31 March 2025 \u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
Discounted lease liabilities
46
142
197
153
Undiscounted lease liabilities
54
161
215
161
Up to Between Between Between
3 months 3 and 12 months 1 and 2 years 2 and 5 years
At 31 March 2026 \u00a3\u2019000 \u00a3'000 \u00a3'000 \u00a3'000
Discounted lease liabilities
48
149
153
\u2013
Undiscounted lease liabilities
54
161
161
\u2013
For the year ended 31 March 2026 cash outflows for leases amount to \u00a3215k (2025: \u00a3253k).
The Group and Parent Company as a lessor:
Finance lease receivables
The Group entered into a lease arrangement considered to be a finance lease, representing rentals payable to the Group for
a rental of a proportion of a leased property for the period to 23 March 2028. During the year ending 31 March 2025, this
finance lease was terminated and the total finance lease receivable asset of \u00a3402k was derecognised.
The resulting office space will not be used by the business for its own use and the Company continues to explore
opportunities to re-let the space.
The carrying amounts of the lease receivable asset are as follows:
Land and buildings
To t al
\u00a3'000
\u00a3'000
At 31 March 2024
Opening position
396
396
Interest income
6
6
Disposals
(402)
(402)
At 31 March 2025
\u2013
\u2013
At 31 March 2026
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-264": { "value": "Right-of-use assets The carrying amounts of the right-of-use assets are as follows:
Land and buildings
Tota l
\u00a3'000
\u00a3'000
At 31 March 2024
Opening position
389
389
Reinstatement
382
382
Impairment
(382)
(382)
Amortisation
(141)
(141)
At 31 March 2025
248
248
Amortisation
(82)
(82)
At 31 March 2026
166
166
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-235": { "value": "
15. Investments
Parent Company
Investments are:
(a) Generic Software Consultants Limited (\u201cGeneric\u201d), a 100% subsidiary undertaking, in respect of both voting rights and
issued shares, which is registered in England and Wales and has an issued share capital of 5,610 US$1 ordinary shares.
The investment is stated in the Company\u2019s books at \u00a3440.
Up to 31 March 2009 Generic acted as an agent for the business, but did not enter into any transactions in its own
right: its business was included within the figures reported by the Company. On 1 April 2009 the agency agreement was
terminated and all business is now conducted directly by the Parent Company including its Generic business.
(b) Triad Special Systems Limited, Generic Online Limited, Zubed Geospatial Limited, Zubed Sales Limited, are all 100%
subsidiaries which are registered in England and Wales. They are dormant companies, which have never traded. Each
has a share capital of \u00a31.
The registered office of Triad Special Systems Limited is Huxley House, Weyside Park, Catteshall Lane, Godalming,
Surrey GU7 1XE. The registered office of the other subsidiaries is 3 Caldecotte Lake Business Park, Caldecotte Lake
Drive, Caldecotte, Milton Keynes MK7 8LF.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-265": { "value": "15. Investments Parent Company Investments are: (a) Generic Software Consultants Limited (\u201cGeneric\u201d), a 100% subsidiary undertaking, in respect of both voting rights and issued shares, which is registered in England and Wales and has an issued share capital of 5,610 US$1 ordinary shares. The investment is stated in the Company\u2019s books at \u00a3440. Up to 31 March 2009 Generic acted as an agent for the business, but did not enter into any transactions in its own right: its business was included within the figures reported by the Company. On 1 April 2009 the agency agreement was terminated and all business is now conducted directly by the Parent Company including its Generic business. (b) Triad Special Systems Limited, Generic Online Limited, Zubed Geospatial Limited, Zubed Sales Limited, are all 100% subsidiaries which are registered in England and Wales. They are dormant companies, which have never traded. Each has a share capital of \u00a31. The registered office of Triad Special Systems Limited is Huxley House, Weyside Park, Catteshall Lane, Godalming, Surrey GU7 1XE. The registered office of the other subsidiaries is 3 Caldecotte Lake Business Park, Caldecotte Lake Drive, Caldecotte, Milton Keynes MK7 8LF.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-236": { "value": "
16. Trade and other receivables
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Trade receivables
2,965
3,000
Less: provision for expected credit losses (5) (5)
Trade receivables-net 2,960 2,995
Contract assets (see note 4)
57
132
Other debtors \u2013 448
Trade and other receivables
3,017
3,575
Prepayments 275 200
3,292 3,775
Analysed as:
Current asset 3,292 3,775
Total 3,292 3,775
The fair value of trade and other receivables approximates closely to their book value.
As at 31 March 2025 included in other debtors was an amount of \u00a3377k relating to the amounts owed by the recipients of
the 2022 RSU award, which would be payable when the corresponding employers national insurance liability of the same
amount is finalised and paid to HMRC. During the year, the actual amount crystallised was \u00a3256k and this was received in
full from the recipients. An equal amount was paid to HMRC with a nil effect to profit after tax for the year (2025: nil).
Trade receivables represent an unconditional right to consideration.
The Group applies IFRS 9 in measuring expected credit losses and forward-looking estimates at the close of each reporting
period. This is based upon previous experience of losses and forward-looking estimates is consistently applied each year.
Trade receivables are written-off when there is no reasonable expectation of recovery.
The lifetime expected credit losses on trade receivables as at 31 March 2026 is calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,901
5
Up to 30 days past due
0.20
63
\u2013
Up to 60 days past due
2.50
1
\u2013
Over 60 days past due
5.00
\u2013
\u2013
2,965
5
No provision has been recognised for contract assets and other debtors as they are expected to be fully recovered.
The lifetime expected credit losses on trade receivables as at 31 March 2025 were calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,374
4
Up to 30 days past due
0.20
606
1
Up to 60 days past due
2.50
16
\u2013
Over 60 days past due
5.00
4
\u2013
3,000
5
Movements on the provision for expected credit loss are as follows:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
At beginning of the year 5 5
Credited to income statement
\u2013
\u2013
At end of the year (credit loss allowance) 5 5
The carrying amount of the Group\u2019s trade and other receivables are denominated in the following currencies:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Sterling 3,006 3,575
Euros 12 \u2013
3,017
3,575
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-279": { "value": "16. Trade and other receivables
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Trade receivables
2,965
3,000
Less: provision for expected credit losses (5) (5)
Trade receivables-net 2,960 2,995
Contract assets (see note 4)
57
132
Other debtors \u2013 448
Trade and other receivables
3,017
3,575
Prepayments 275 200
3,292 3,775
Analysed as:
Current asset 3,292 3,775
Total 3,292 3,775
The fair value of trade and other receivables approximates closely to their book value. As at 31 March 2025 included in other debtors was an amount of \u00a3377k relating to the amounts owed by the recipients of the 2022 RSU award, which would be payable when the corresponding employers national insurance liability of the same amount is finalised and paid to HMRC. During the year, the actual amount crystallised was \u00a3256k and this was received in full from the recipients. An equal amount was paid to HMRC with a nil effect to profit after tax for the year (2025: nil). Trade receivables represent an unconditional right to consideration. The Group applies IFRS 9 in measuring expected credit losses and forward-looking estimates at the close of each reporting period. This is based upon previous experience of losses and forward-looking estimates is consistently applied each year. Trade receivables are written-off when there is no reasonable expectation of recovery. The lifetime expected credit losses on trade receivables as at 31 March 2026 is calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,901
5
Up to 30 days past due
0.20
63
\u2013
Up to 60 days past due
2.50
1
\u2013
Over 60 days past due
5.00
\u2013
\u2013
2,965
5
No provision has been recognised for contract assets and other debtors as they are expected to be fully recovered. The lifetime expected credit losses on trade receivables as at 31 March 2025 were calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,374
4
Up to 30 days past due
0.20
606
1
Up to 60 days past due
2.50
16
\u2013
Over 60 days past due
5.00
4
\u2013
3,000
5
Movements on the provision for expected credit loss are as follows:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
At beginning of the year 5 5
Credited to income statement
\u2013
\u2013
At end of the year (credit loss allowance) 5 5
The carrying amount of the Group\u2019s trade and other receivables are denominated in the following currencies:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Sterling 3,006 3,575
Euros 12 \u2013
3,017
3,575
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-275": { "value": "16. Trade and other receivables
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Trade receivables
2,965
3,000
Less: provision for expected credit losses (5) (5)
Trade receivables-net 2,960 2,995
Contract assets (see note 4)
57
132
Other debtors \u2013 448
Trade and other receivables
3,017
3,575
Prepayments 275 200
3,292 3,775
Analysed as:
Current asset 3,292 3,775
Total 3,292 3,775
The fair value of trade and other receivables approximates closely to their book value. As at 31 March 2025 included in other debtors was an amount of \u00a3377k relating to the amounts owed by the recipients of the 2022 RSU award, which would be payable when the corresponding employers national insurance liability of the same amount is finalised and paid to HMRC. During the year, the actual amount crystallised was \u00a3256k and this was received in full from the recipients. An equal amount was paid to HMRC with a nil effect to profit after tax for the year (2025: nil). Trade receivables represent an unconditional right to consideration. The Group applies IFRS 9 in measuring expected credit losses and forward-looking estimates at the close of each reporting period. This is based upon previous experience of losses and forward-looking estimates is consistently applied each year. Trade receivables are written-off when there is no reasonable expectation of recovery. The lifetime expected credit losses on trade receivables as at 31 March 2026 is calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,901
5
Up to 30 days past due
0.20
63
\u2013
Up to 60 days past due
2.50
1
\u2013
Over 60 days past due
5.00
\u2013
\u2013
2,965
5
No provision has been recognised for contract assets and other debtors as they are expected to be fully recovered. The lifetime expected credit losses on trade receivables as at 31 March 2025 were calculated as follows:
Group and Parent Company
Expected
Gross carrying Credit loss
default rate amount allowance
(A) (B) (A x B)
% \u00a3'000 \u00a3'000
Current
0.15
2,374
4
Up to 30 days past due
0.20
606
1
Up to 60 days past due
2.50
16
\u2013
Over 60 days past due
5.00
4
\u2013
3,000
5
Movements on the provision for expected credit loss are as follows:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
At beginning of the year 5 5
Credited to income statement
\u2013
\u2013
At end of the year (credit loss allowance) 5 5
The carrying amount of the Group\u2019s trade and other receivables are denominated in the following currencies:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Sterling 3,006 3,575
Euros 12 \u2013
3,017
3,575
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-266": { "value": "16. Trade and other receivables
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Trade receivables
2,965
3,000
Less: provision for expected credit losses (5) (5)
Trade receivables-net 2,960 2,995
Contract assets (see note 4)
57
132
Other debtors \u2013 448
Trade and other receivables
3,017
3,575
Prepayments 275 200
3,292 3,775
Analysed as:
Current asset 3,292 3,775
Total 3,292 3,775
The fair value of trade and other receivables approximates closely to their book value. As at 31 March 2025 included in other debtors was an amount of \u00a3377k relating to the amounts owed by the recipients of the 2022 RSU award, which would be payable when the corresponding employers national insurance liability of the same amount is finalised and paid to HMRC. During the year, the actual amount crystallised was \u00a3256k and this was received in full from the recipients. An equal amount was paid to HMRC with a nil effect to profit after tax for the year (2025: nil). Trade receivables represent an unconditional right to consideration. The Group applies IFRS 9 in measuring expected credit losses and forward-looking estimates at the close of each reporting period. This is based upon previous experience of losses and forward-looking estimates is consistently applied each year. Trade receivables are written-off when there is no reasonable expectation of recovery. ", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-237": { "value": "
17. Cash and cash equivalents
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Cash at bank and on hand 4,118 3,324
Cash in transit 57 48
4,175
3,372
The fair value of cash and cash equivalents approximates closely to their book value.
The carrying amount of the Group\u2019s cash and cash equivalents is denominated in the following currencies:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Sterling 4,175 3,371
Euros \u2013 1
4,175
3,372
For the purpose of the consolidated statements of cash flows, cash and cash equivalents consist of cash, as detailed above.
During the year, the Group did not utilise external funding or need immediate access to a financing facility.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-238": { "value": "
18. Trade and other payables
Group
Parent Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Trade payables
522
578
522
578
Accruals 513 575 513 575
Owed to subsidiary \u2013 \u2013 5 5
1,035 1,153 1,040 1,158
Contract liabilities (see note 4) 59 124 59 124
Other taxation and social security
1,486
1,642
1,486
1,642
2,580 2,919 2,585 2,924
Analysed as:
Current liability 2,580 2,919 2,585 2,924
Total 2,580 2,919 2,585 2,924
The majority of trade and other payables are settled within three months from the year end.
The fair value of trade and other payables approximates closely to their book value.
The carrying amount of trade and other payables is denominated in sterling as below:
Group
Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Sterling
1,035
1,153
1,040
1,158
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-280": { "value": "18. Trade and other payables
Group
Parent Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Trade payables
522
578
522
578
Accruals 513 575 513 575
Owed to subsidiary \u2013 \u2013 5 5
1,035 1,153 1,040 1,158
Contract liabilities (see note 4) 59 124 59 124
Other taxation and social security
1,486
1,642
1,486
1,642
2,580 2,919 2,585 2,924
Analysed as:
Current liability 2,580 2,919 2,585 2,924
Total 2,580 2,919 2,585 2,924
The majority of trade and other payables are settled within three months from the year end. The fair value of trade and other payables approximates closely to their book value. The carrying amount of trade and other payables is denominated in sterling as below:
Group
Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Sterling
1,035
1,153
1,040
1,158
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-276": { "value": "18. Trade and other payables
Group
Parent Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Trade payables
522
578
522
578
Accruals 513 575 513 575
Owed to subsidiary \u2013 \u2013 5 5
1,035 1,153 1,040 1,158
Contract liabilities (see note 4) 59 124 59 124
Other taxation and social security
1,486
1,642
1,486
1,642
2,580 2,919 2,585 2,924
Analysed as:
Current liability 2,580 2,919 2,585 2,924
Total 2,580 2,919 2,585 2,924
The majority of trade and other payables are settled within three months from the year end. The fair value of trade and other payables approximates closely to their book value. The carrying amount of trade and other payables is denominated in sterling as below:
Group
Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Sterling
1,035
1,153
1,040
1,158
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-267": { "value": "18. Trade and other payables
Group
Parent Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Trade payables
522
578
522
578
Accruals 513 575 513 575
Owed to subsidiary \u2013 \u2013 5 5
1,035 1,153 1,040 1,158
Contract liabilities (see note 4) 59 124 59 124
Other taxation and social security
1,486
1,642
1,486
1,642
2,580 2,919 2,585 2,924
Analysed as:
Current liability 2,580 2,919 2,585 2,924
Total 2,580 2,919 2,585 2,924
The majority of trade and other payables are settled within three months from the year end. The fair value of trade and other payables approximates closely to their book value. The carrying amount of trade and other payables is denominated in sterling as below:
Group
Company
2026 2025 2026 2025
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Sterling
1,035
1,153
1,040
1,158
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-239": { "value": "
19. Provisions
Group and Parent Company Provision for
property dilapidation
\u00a3\u2019000
At 31 March 2024 and 1 April 2025
300
Additions
30
Charged to income statement
\u2013
Utilised in year
\u2013
At 31 March 2026 330
The maturity profile of the present value of provisions is as follows:
Group and Parent Company
2026
2025
\u00a3'000 \u00a3'000
Current
Provision for property dilapidation 123 136
Non-current
Provision for property dilapidation 207 164
The provision for property dilapidation covers the estimated future costs at the balance sheet date required to meet
obligations under property leases to redecorate and repair property.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-240": { "value": "
20. Share capital
2026 2025
Ordinary shares of 1p each
Issued, called up and fully paid:
Number 17,429,388 16,670,388
Nominal value \u00a3174,294 \u00a3166,704
During the year 759,000 1p ordinary shares were issued as a result of the exercise by employees of restricted stock units
(RSUs) and share options:
Number
Option price
Increase in Increase in share capital
Increase in Increase in share premium
750,000
1.0p
\u00a37,500
\u2013
9,000
53.5p
\u00a390
\u00a34,725
759,000
\u00a37,590
\u00a34,725
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-268": { "value": "20. Share capital
2026 2025
Ordinary shares of 1p each
Issued, called up and fully paid:
Number 17,429,388 16,670,388
Nominal value \u00a3174,294 \u00a3166,704
During the year 759,000 1p ordinary shares were issued as a result of the exercise by employees of restricted stock units (RSUs) and share options:
Number
Option price
Increase in Increase in share capital
Increase in Increase in share premium
750,000
1.0p
\u00a37,500
\u2013
9,000
53.5p
\u00a390
\u00a34,725
759,000
\u00a37,590
\u00a34,725
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-241": { "value": "
21. Share-based payments
The Group operated 2 incentive plans during the year; EMI Share Option Scheme and a Restricted Stock Unit (RSU)
Employee Share Incentive Plan scheme, which are both equity settled schemes. The Company issues new shares to satisfy
vesting outcomes and holds no shares in treasury (2025: nil).
EMI Share Option Scheme
At 31 March 2026, 88,191 (2025: 97,191) options granted under employee share option schemes remain outstanding:
Date option granted
Number
Exercise price
Period options exercisable
9 March 2018
88,191
53.5p
1 April 2021 to 9 March 2028
Under the terms of the scheme, options vest after a period of three years continued employment and were subject to the
following:
For options granted on 9 March 2018: 100% of the shares granted under an option vested as the Company\u2019s share price
at 31 March 2021 increased by 30% or more from the share price as at the date of grant. 50% of shares granted under an
option vested if the Company\u2019s share price at 31 March 2021 increased by 15% from the share price as at the date of grant.
Between these upper and lower thresholds, awards were to vest on a straight-line basis. Given the share price as at 31
March 2021, 100% of these options vested on 31 March 2021.
Options have been valued using the Black-Scholes option-pricing model.
The contractual life of all vested options is 7 years.
No options were granted during the year (2025: none).
Restricted Stock Units (RSUs) Employee Share Incentive Plan
In March 2022 a number of restricted stock units (RSUs) were granted under the new Triad Employee Share Incentive Plan
and vested on the effective date of 28 March 2025, which was the last working date prior to the third anniversary of the
award date of 30 March 2022:
Date award made
Number
Performance condition
Vesting date
30 March 2022
750,000
135.0p
30 March 2025
The Award would vest following 3 years continuous employment and if the Board determines that the Market Value of a Share on
the third anniversary of the Award Date is equal to or greater than the Market Value of a Share on the Award Date. These shares
vest automatically after 3 years. The market value at the Award Date was 135.0p and the fair value of the RSUs was 88.8p. The
market value at the effective vesting date was 335.0p and these RSUs vested.
During the year, the 750,000 shares were allocated to the beneficial owners and the ordinary share capital had therefore
increased at the balance sheet date (2025: Not allocated and no increase to share capital).
The RSUs have been valued using the Monte Carlo pricing model. The performance condition included in the fair value calculation
was the share price at grant of 135p.
The total expense recognised in the year is nil (2025: \u00a3262,000).
No RSUs were granted during the year (2025: nil).
A reconciliation of the total share award movements over the year to 31 March 2026 is shown below:
2026
2025
Number of Weighted Number of Weighted
options average options average
exercise exercise
price of the price of the
share award share award
Pence Pence
Outstanding at start of year
847,191
7.0
887,798
8.2
Granted
\u2013
\u2013
\u2013
\u2013
EMI share options exercised
(9,000)
53.5
(40,607)
32.6
RSU share options exercised
(750,000)
1.0
\u2013
\u2013
Forfeited
\u2013
\u2013
\u2013
\u2013
Outstanding at end of year
88,191
53.5
847,191
7.0
Exercisable at end of year
88,191
53.5
847,191
7.0
There were 9,000 EMI share options exercised and 750,000 restricted stock units issued and allocated during the year.
There are EMI share options exercisable of 88,191 relating to the 2018 grants which have all vested (2025: 97,191 all vested)
and there are no RSUs outstanding (2025: 750,000). There are no RSU\u2019s held by Directors (2025: 180,000). Transactions
with Directors are set out in the Directors\u2019 remuneration report on page 27.
The weighted average share price at the date of exercise for share options exercised during the period was 270.1p (2025:
272.3p). The options outstanding as at 31 March 2026 had an exercise price of 53.5p. The weighted average remaining
contractual life is 1.9 years (2025: 0.3 years).
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22. Related party transactions and ultimate control
The Group and Parent Company rents one of its offices under a lease. The current annual rent of \u00a3215,000 was fixed, by
independent valuation, at the last rent review in 2008. J C Rigg, a Director, has notified the Board that he has a 50% beneficial
interest in this contract. The balance owed at the year-end was \u00a3nil (2025: \u00a3nil). There is no ultimate controlling party.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-269": { "value": "22. Related party transactions and ultimate control The Group and Parent Company rents one of its offices under a lease. The current annual rent of \u00a3215,000 was fixed, by independent valuation, at the last rent review in 2008. J C Rigg, a Director, has notified the Board that he has a 50% beneficial interest in this contract. The balance owed at the year-end was \u00a3nil (2025: \u00a3nil). There is no ultimate controlling party.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-4": { "value": "Triad Group Plc Weyside Park Catteshall Lane Godalming Surrey GU7 1XE", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-200": { "value": "Plc ", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800MDNBFVEQEN1G84", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } } } }