Final results for the year ended 31 July 2026

3 November 2026

Gattaca plc

("Gattaca" or the “Group")

Final results for the year ended 31 July 2026

“Strong full year performance driven by NFI growth”

Gattaca plc, the specialist staffing business, announces its audited financial results for the year ended 31 July 2026.

Financial Highlights

Group net cash of £15.4m at 31 July 2026 was broadly flat against 31 July 2025 net cash of £15.7m (31 January 2026: £13.0m) as operating cash generation funded investment in InfoSec People team, dividend payments and an increase in lease liabilities

Operational Highlights

Continued delivery and emphasis on developing the four Strategic Priorities as the Group’s focus remains on achieving sustained growth:

External Focus

Culture

Operational Performance

Cost Optimisation

Outlook

We enter FY27 with improving momentum and a clear focus on converting progress into sustained earnings growth.

While macroeconomic uncertainty continues to affect some hiring markets, demand for specialist STEM skills and workforce solutions remains resilient. Increased market share, a broader contractor base and strong client relationships support our confidence in the year ahead.

The Board expects further growth in continuing underlying profit before tax in FY27, in line with current market expectations of £6.5m.

Matthew Wragg, Chief Executive Officer of Gattaca, commented:

“Looking ahead, I am excited to see us continue to build momentum. We enter the year with real positivity. Recognised as a great place to be, with great culture, tools and a place where people can enjoy their work, be successful and contribute positively to the markets that we serve.

Our continued focus on our strategy, a healthy opportunity pipeline and a robust balance sheet, places us well to continue to build sustainable growth for FY27 and beyond .”

The following footnotes apply, unless where otherwise indicated, throughout these Final Results:

Investor Presentation

As previously announced, Matthew Wragg, CEO, and Oliver Whittaker, CFO, will provide a live presentation via Investor Meet Company following the publication of the Group's audited financial results. The presentation will take place today at 09:30 GMT.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 03 November 2026 at 09:00 GMT, or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Gattaca plc via: https://www.investormeetcompany.com/gattaca-plc/register-investor

For further information, please contact:

Chair’s Statement

Building Momentum Delivering Growth

Overview

FY26 was a year of significant progress for Gattaca. Against a backdrop of continued macroeconomic uncertainty and cautious customer decision-making, the Group delivered strong growth in Net Fee Income (NFI), substantially increased profitability and further strengthened its position in the specialist sectors in which it operates. These results demonstrate that our strategy is succeeding, giving us a stronger business that is focused on the right markets and successfully adapting to the changing world of work.

For a growing number of people, a full-time permanent job is no longer their preference. They are choosing whether to work for one employer or many, full time or part time, remotely or in-person. These decisions are relevant across both professional and specialist on-site workforces, supporting the UK’s broader commitment to strengthening technical education and vocational skills. A flexible workforce also suits many businesses, with higher employment costs encouraging them to balance permanent headcount with contracting and subcontracting.

The businesses under our brands have shown that they are close to our markets and can successfully navigate this evolving environment. Our teams’ knowledge of their sectors continues to deepen, giving them valuable insights into the economic dynamics, programme investment, organisational challenges and enabling them to connect with teams to help them deliver. By delivering outcome-based projects and statement-of-work solutions, The Group can now effectively meet evolving client requirements as a comprehensive workforce solutions provider.

Our culture is an important differentiator, embracing the differences in people while building a common bond that is hard to replicate.

A stronger performance along with higher standards and our multi year technology investment, are the most important contributors to our progress. Across the Group, we have seen greater ambition, accountability and collaboration, supported by high levels of engagement and retention.

The Group has invested consistently in its technology platform and is increasingly deploying tools to improve productivity, enhance customer and candidate experiences and support scalable growth. These tools are freeing sales teams to spend more time on the work they enjoy, building stronger customer relationships and increasing revenue generation potential.

Performance and Returns to Shareholders

The return to top line growth, combined with improving operational performance and rigorous cost control, contributed to an 85% increase in underlying profit before tax, well ahead of our initial expectations for the year. Encouragingly, we believe there remains further opportunity to improve margin conversion through continued gains in productivity and scale, particularly in NFI per total head and the ratio of sales to support staff.

The Board has proposed a final dividend for the year of 4.67 pence per share (FY25: 2.0 pence). Combined with the interim dividend of 1.33 pence per share (FY25: 1.0 pence), this gives a total dividend for the year of 6.0 pence (FY25: 3.0 pence), an increase of 100%. This is in line with our objective for the total dividend to be approximately 50% of profits after tax. Subject to shareholder approval, the final dividend will be paid on 30th December 2026 to shareholders on the register at 13th November 2026.

The Board

During FY26 there were no changes to the membership of the Board. David Lawther will complete nine years on the Board in June 2027. We will recruit a Non-Executive Director in the coming year, as part of our succession planning.

We commissioned an external evaluation of the Board’s performance, which showed that we work well together and identified some areas to develop.

Looking Ahead

When I joined the Board as Chair in December 2023, the Group was at an early stage in the Executive team’s strategy for turning the business around. The progress made over the past four years demonstrates the strength of the leadership team, the quality of our people and the attractiveness of our chosen markets. The performance this year shows that we are now on the front foot and can make progress in varying macro-environments.

While confidence is building, there is no room for complacency. We will continue to invest in sales headcount, focus on improving key metrics and prioritise high-quality growth over volume. With the acquisition of InfoSec People reflecting our ability to identify and integrate complementary businesses, we will continue to consider further bolt-ons that complement our sector expertise and accelerate long term growth.

While macroeconomic uncertainty remains a feature of many hiring markets, Gattaca enters FY27 with improving operational momentum, a strong balance sheet, growing market share and a healthy pipeline of opportunities. The Board remains confident in the Group’s strategy and believes it is well positioned to deliver further growth and shareholder value in the years ahead.

Richard Bradford

Independent Non-Executive Chair

Chief Executive’s Statement

Building Momentum Delivering Growth

Overview

Over the last four years we have been building momentum and FY26 represented a significant step forward as we increased market share, delivered double-digit NFI growth and materially improved profitability. While market conditions remained mixed, our results demonstrate the strength of our sector positioning, the quality of our people and the effectiveness of our strategy. We enter FY27 with increasing momentum and confidence in our ability to deliver sustainable growth.

Performance

Overall, Group NFI was 11% up at £43.2m (FY25: £38.8m), Group underlying profit before tax increased by 85% to £6.1m (FY25: £3.3m), well ahead of our initial guidance for the year of £4.0m. This reflected our NFI growth, increased sales productivity and our cost control.

While many of our markets remained challenging in the year, contract recruitment remains the largest component of our business and was the primary driver of growth during FY26. Our ability to identify the need for specialist STEM skills across Energy, Defence, Digital Technology, Infrastructure and Mobility resulted in contractor numbers increasing by more than 10%, driving contract NFI growth of approximately 16%. This demonstrates both the resilience of our chosen markets and the value clients place on specialist expertise. Permanent NFI was down 5% like-for-like and up 4% overall, following our acquisition of InfoSec People in August 2025. Average permanent fees were higher, as we increased our focus on specialist skills.

Most of our business lines grew NFI in the year. In Infrastructure, Water performed well as the AMP8 investment cycle ramps up alongside growth in Highways that offset a tough Rail market. Defence was up 17% despite a subdued market.

We have expanded our service offering and our sales teams and seen the emergence of new clients across our sectors. Energy remains an investment area for us. NFI was 4% higher in the year, with nuclear new build, data centres and transmission and distribution all strong. Mobility outperformed difficult markets, with 9% NFI growth driven by the Aerospace subsector. Digital Technology achieved some solid recovery despite the unfavorable environment for technology skills globally, while its Limitless in Tech programme to support women in the sector continues to create value for our market.

The results of our workforce solutions business are included in the sector performances discussed above. It also grew well during FY26, in particular by expanding existing programmes, and has a strong pipeline across defence, infrastructure and energy.

Our statement of work (SoW) business, Gattaca Projects saw a 44% reduction in NFI as its largest defence sector client delayed or cancelled projects. We responded by successfully diversifying the client base across civil nuclear, aerospace, defence and oil and gas. SoW remains a strategically important growth area, and we will pursue organic and inorganic growth opportunities.

The Group has maintained its robust financial position, with year-end net cash of £15.4m (31 July 2025: £15.7m). This was the result of strong operating cash flow, supporting growth in our contractor book, dividend payments and the consideration for the InfoSec acquisition.

Strategy

We continue to follow our four-part strategy making further progress during FY26.

External Focus

One of our key successes in the year was to consolidate our recruitment businesses into one powerhouse, under the Matchtech brand. This created a clearer, trusted and more powerful proposition for clients, candidates and contractors, enabling us to present the full breadth of our capabilities through a single go to market identity. The benefits are already becoming evident through improved opportunities for candidates, easier client journey, increased cross-selling, higher client engagement and stronger collaboration between teams. The Group now combines sector expertise with multiple delivery models, enabling us to solve a wider range of workforce challenges for our clients across skills and sectors.

We also deployed our enhanced sales plan during the year, giving us a roadmap to becoming market leaders. We have been very clear about identifying the total addressable markets in our sectors, who the key organisations are and have set goals around market share. To convert that potential, we are refining our sales strategies and have brought in a Chief Commercial Officer arriving in the new financial year.

Part of our strategy is to make bolt-on acquisitions that add to our service capability in markets we are already targeting and which share our culture. The acquisition of InfoSec People has strengthened our position in cyber security, one of the most attractive and fastest-growing areas of the technology talent market. We have been pleased with both the operational and cultural integration of the business and are beginning to introduce its specialist capability across the wider Group. Importantly, the acquisition demonstrates our ability to identify, acquire and integrate complementary businesses that enhance our service offering and accelerate growth. Client feedback is a key measure of how well we are meeting their needs. Our rating remained very high at 8.9 (FY25: 9.1). We continue to elevate our sales engagement through more in-person client activity, including building relationships at the most senior levels.

Culture

We are creating a culture of sustainable success, in which we treat our people well, create a great environment for them to work in and give them the right tools and structure to succeed.

Our progress is reflected in the Sunday Times naming us as one of the Top 10 Best Places to Work among the UK’s large companies. Our people engagement score is at a record 8.7 (FY25: 8.4) and our retention is good, with attrition falling to 27% (FY25: 28%).

Better tooling, retention and go to the market strategy has enabled us to grow NFI whilst reducing sales head count slightly. Within this we have grown the number of experienced market making sales heads and reduced the number of people required to deliver on the opportunities we create. This trend will continue into FY27 and we expect to see our overall sales headcount now increase.

Operational Performance

One of the most encouraging aspects of FY26 was the continued improvement in consultant productivity.

NFI per sales head increased by 20% and NFI per total head increasing by 19%. This continued our upward trajectory, with NFI per total head having increased by 40% over the last five years. This performance was underpinned by a significant increase in the number of our salespeople hitting target. We have introduced a new incentive scheme, through which salespeople who hit target three years in a row receive a significant bonus to further aid life-changing moments like saving for house deposits.

Technology and AI are increasingly important drivers of productivity across the Group. Our objective is to supercharge it through the expertise of our consultants: enabling consultants to spend more time building relationships, solving client challenges and generating NFI. We believe specialist recruitment will increasingly be defined by the quality of human relationships, supported by intelligent technology.

Cost Optimisation

Our goal is for our sales staff to make up more than 75% of our employees. The average ratio of sales to support staff during the year was 70:30 (FY25: 71:29), reflecting the lower than planned recruitment of consultants in the year.

The benefits of investment in technology and AI is measured through productivity, scalability and customer experience, rather than simply headcount reduction. We expect technology to play an increasingly important role in supporting profitable growth across the Group.

We also continue to simplify our corporate structure by removing legacy entities from the Group.

Environmental, Social and Governance (ESG)

ESG issues are important to us and our approach delivers important business benefits. For example, our LEAP programme in Defence is helping to close the systems engineering skills gap by training underemployed people and deploying them into high-quality work. We are also preparing young people for their future, by developing their skills and providing bursaries for STEM courses.

Strong governance is critical, since it enables clients and candidates to trust us to do things well and in the right way. In FY26 we achieved ISO27001 certification, strengthening our information security standards and reinforcing client trust in us. Protecting the environment is also key, both through achieving our commitments and providing the STEM skills needed for a low-carbon future.

Outlook

Looking ahead, I am excited to see us continue to build momentum. We enter the year with real positivity. Recognised as a great place to be, with great culture, tools and a place where people can enjoy their work, be successful and contribute positively to the markets that we serve.

Our continued focus on our strategy, a healthy opportunity pipeline and a robust balance sheet, places us well to continue to build sustainable growth for FY27 and beyond.

Matt WraggChief Executive Officer

Chief Financial Officer’s Report

Converting growth into stronger returns

Highlights

Financial Performance

On a continuing basis, revenue increased by 11% to £443.3m (FY25: £398.9m), generating NFI of £43.2m (FY25: £38.8m). Temporary placements remained the largest service line, with revenue of £421.6m (FY25: £380.5m), while permanent recruitment revenue increased to £7.7m (FY25: £7.4m). Statement of Work revenue was £13.4m (FY25: £10.6m), reflecting continued demand for project-led engineering and technical services, of which InfoSec People contributed £3.2m.

The strongest revenue growth was delivered in Defence, Energy, Mobility and Other, including the contribution from InfoSec People following its acquisition in August 2025. Infrastructure remained broadly stable year on year, while permanent recruitment activity continued to be more subdued than contract recruitment across the wider UK labour market.

With an increased total NFI, our key performance metrics of NFI per head and NFI per sales head both increased by 19% and 20% respectively, a result of our efforts to improve productivity through our sales force, even in a challenging labour market.

Underlying profit before tax from continuing operations was £6.1m (FY25: £3.3m), an increase of 85% year on year. Statutory profit after tax for the total Group was £4.0m (FY25: £2.2m), reflecting improved underlying trading performance driven by NFI growth of £4.4m which combined with continued cost discipline resulted in the strong conversion of NFI growth to profit.

Cash generation was strong, with £6.5m generated from operations, equivalent to 93% of Group EBITDA, reflecting improved profitability and disciplined working-capital management.

Net cash at 31 July 2026 was £15.4m (31 July 2025: £15.7m), with a strong year-end cash position and the recourse invoice discounting facility unutilised. The Group retained good liquidity availability, with £32.0m of undrawn working capital facility headroom at year end (FY25: £33.8m) in addition to the cash reserves.

Administration expenses

Administration expenses from continuing operations were £37.7m (FY25: £36.6m), reflecting increased variable reward costs associated with the Group’s NFI growth, increased legislative costs and the additional cost base from InfoSec People. Non-underlying items within continuing administrative expenses reduced to £0.5m (FY25: £0.6m), comprising acquisition-related costs, restructuring costs and ongoing closure costs for legacy entities.

Productivity and operational efficiency

Improving productivity remains a key strategic priority and an important driver of sustainable profit growth. During the year, the Group delivered a further increase in NFI per head of 19% to £117.2k and in NFI per sales head of 20% to £166.9k.

NFI growth was supported by an increase in contractor numbers during the year, reflecting strong client demand across our specialist markets and continued success in securing and retaining skilled professionals on assignment. Combined with careful management of headcount and costs, this has enabled the Group to deliver improved operating leverage while continuing to invest in our technology platform and operational processes.

Management remains focused on improving consultant effectiveness through enhanced engagement, improved data and reporting capabilities, targeted training programmes and greater process automation. These initiatives are intended to support further productivity gains over time, strengthening the Group’s competitive position while improving profitability and returns on investment.

Non-underlying costs and discontinued operations

Non-underlying costs from continuing business are presented in line with the Group’s accounting policy. Non-underlying costs incurred in the year of £0.5m (FY25: £0.6m) comprised mainly of restructuring costs of £0.2m, costs associated with the closure of discontinued entities of £0.1m and costs related to the acquisition of InfoSec People of £0.1m.

We continue to co-operate with the US Department of Justice and there have been no matters in this regard during the year. Legal fees on this matter were nil in the year (FY25: £nil). As shown in Note 29 to the Financial Statements, the Group is not currently in a position to know what the outcome of these enquiries may be and we are therefore unable to quantify the potential financial impact, if any.

Discontinued operations recorded a loss after tax of £(0.0)m in FY26 (FY25: profit of £0.3m), primarily reflecting foreign exchange movements on residual balances associated with legacy operations. No revenue was generated from discontinued operations in FY26 (FY25: £0.0m).

The table below reconciles continuing underlying profit before tax to reported statutory profit before tax for the total Group:

1 Restructuring costs arose primarily from employee exit costs arising as a result of targeted, small scale, team rationalisations.

2 Costs associated with the ongoing closure of subsidiaries whose operations were discontinued in prior periods, primarily Mexico, Malaysia, Singapore, Qatar, Russia and Germany, are classified as continuing operations in the current year and are reported within non-underlying items in line with the Group’s accounting policy. We will continue to incur costs associated with discontinued legacy operations as the legal wind down of those entities is concluded.

Taxation

The Group’s reported taxation position reflects the improved profitability of the continuing business, prior-year adjustments and the mix of taxable profits across jurisdictions. Further detail is set out in Note 9 of the Financial Statements. The continuing underlying effective tax rate was 28.2% (FY25: 24.9%) principally reflecting the impact of prior-year tax adjustments and the geographical mix of taxable profits. The overall Group tax rate was 29.3% (FY25: 28.5%).

Earnings per share

Basic earnings per share was 12.7 pence (FY25: 7.0 pence), and on a fully diluted basis was 12.2 pence (FY25: 6.8 pence). Continuing underlying basic earnings per share was 13.8 pence (FY25: 7.8 pence).

Balance Sheet

The Group finished the year with a strong balance sheet and substantial net cash resources, providing resilience in uncertain market conditions and supporting future strategic flexibility. Our financial strength is underpinned by a diversified customer base, robust cash generation and a disciplined approach to risk management. Net assets increased during the year to £32.2m (FY25: £29.4m) as a result of the profits in the year after dividends paid to shareholders.

Working capital of £27.4m (31 July 2025: £26.1m) increased by £1.3m. Trade receivables and accrued income balances, net of expected credit loss allowances, increased to £61.5m (31 July 2025: £58.0m), reflecting the growth in revenue during the period as we have expanded our contractor base. We continue to seek organic contract NFI growth as a key element of our growth strategy.

Managing aged debt continues to be a focus area and debt aged over 30 days was kept low at only 2.3% (FY25: 3.3%) of total trade receivables. We saw a marginal decrease in the Group’s days sales outstanding (DSO) at 31 July 2026 to 40.5 days, 2 days below the prior year (FY25: 42.5 days).

There were 31.5m (31 July 2025: 31.5m) fully paid ordinary shares in issue at 31 July 2026.

Investment in Subsidiaries

The subsidiary undertakings principally affecting the profits and net assets of the Group are listed in Note 32 to the Consolidated Financial Statements. While trading performance and market capitalisation improved during the year, the Directors concluded that these factors, in isolation, do not provide sufficient objective evidence that the circumstances which gave rise to the impairment recognised in prior periods have reversed to such an extent that a reversal of impairment is warranted. Accordingly, no impairment charge or impairment reversal has been recognised in the current year.

Cashflows and funding

Group net cash at 31 July 2026 was £15.4m (31 July 2025: £15.7m), a decrease of £0.3m in a year.

During the year cash generated from operating activities was £4.5m (FY25: £(3.1)m). This was primarily due to the profits generated in the year, combined with a tight control of working capital, particularly cash collection as we managed DSO down by 2 days compared to the prior year. Income taxes paid in the year were £2.3m (FY25: £0.7m).

Cash outflows associated with investments increased as we acquired HC 1344 Limited and its subsidiary, InfoSec People Limited for £1.2m net of cash acquired. Contingent consideration of up to £0.6m is payable over the period to August 2029.

Dividend payments were £1.0m comprising FY25 final dividend paid in December 2025, and the FY26 interim dividend paid in May 2026.

The Group also increased the value of shares purchased by the Employee Benefit Trust (EBT) to £0.6m (FY25: £0.3m). EBT shares are purchased by the Group to settle future LTIP and High Performers awards vesting.

Available liquidity remained comfortably above operational requirements throughout the period, ensuring the Group was well positioned to fund organic investment opportunities, pursue targeted acquisitions and support shareholder returns. The average Group net cash balance throughout the year was £10.7m (FY25: £11.4m excluding non-recourse facility impact).

As at 31 July 2026, the Group had an undrawn invoice financing working capital facility of £40m, this was reduced from £50m in the previous year in recognition of the facility being used only very rarely and to a low level during the financial year. At 31 July 2026, utilisation of the facility was £nil (31 July 2025: £nil), with unutilised facility headroom after restrictions of £32.0m (31 July 2025: £33.8m). Net finance income from continuing operations was £0.2m (FY25: £0.4m), reflecting the positive net cash balance maintained during the year.

Cash flow and net cash position (all figures £m)

Capital Allocation Policy and Dividends

The Group maintains a capital allocation approach that prioritises investment in organic growth investing to strengthen core capabilities and support sustainable long-term performance.

We will continue to evaluate selective M&A opportunities that enhance our strategic position by adding complementary and in-demand capabilities whilst maintaining financial discipline to deliver attractive returns.

We remain committed to delivering shareholder returns through value appreciation coupled with shareholder distributions. The Board intends to maintain a dividend equivalent to approximately 50% of post-tax profit through the medium term, while retaining ability to flex to support M&A activity.

The Board will continue to consider alternative methods to return capital where market conditions and the Group’s balance sheet allow.

Reflective of the increase in Group profits and balance sheet position the Board has proposed a final ordinary dividend of 4.67 pence per share subject to shareholder approval at the 2026 Annual General Meeting. It will be paid on 30th December 2026 to shareholders on the register on 13th November 2026. Along with the interim dividend per share in relation to 2026 of 1.33 pence per share, this will bring total dividends in relation to 2026 to 6.0 pence per share (FY25: 3.0 pence per share), an increase of 100%.

Critical accounting policies

The statement of significant accounting policies is set out in Note 1 to the Financial Statements.

Group financial risk management

The Board reviews and agrees policies for managing financial risks. The Group’s finance function is responsible for managing investment and funding requirements including banking and cash flow monitoring.

It seeks to ensure that adequate liquidity exists at all times, to meet its cash requirements. The Group’s financial instruments comprise cash, borrowings and various items, such as trade receivables and trade payables that arise from its operations.

The main risks arising from the Group’s financial instruments are described below.

Credit risk

The Group seeks to trade only with recognised, creditworthy third parties. In the year, our loss allowance remained flat at £1.4m. There were no changes to the rate used for general provisioning. There are no significant concentrations of credit risk within the Group, with no single debtor accounting for more than 6% (FY25: 6%) of total receivables balance at 31 July 2026.

Foreign currency risk

The Group generates 1% of its annualised NFI from continuing business in international markets. The Group does face risks to both its reported performance and cash position arising from the effects of exchange rate fluctuations. The Group manages these risks by matching sales and direct costs in the same currency and where appropriate entering into forward exchange contracts to mitigate the impact of exchange rate fluctuations where sales and costs are not denominated in the same currency.

Acquisition

On 4 August 2025, the Group acquired InfoSec People, a specialist cybersecurity recruitment consultancy. The acquisition strengthens Gattaca’s capabilities in the growing cyber and information security market and enhances the Group’s specialist STEM offering.

The business has performed in line with the Board’s expectations since acquisition and has integrated successfully into the Group whilst retaining its specialist market focus.

The Board remains confident that the acquisition will support the Group’s long-term growth strategy and strengthen its position in attractive, high-demand markets.

Outlook

We enter FY27 with improving momentum and a clear focus on converting progress into sustained earnings growth.

While macroeconomic uncertainty continues to affect some hiring markets, demand for specialist STEM skills and workforce solutions remains resilient. Increased market share, a broader contractor base and strong client relationships support our confidence in the year ahead.

The Board expects further growth in continuing underlying profit before tax in FY27, in line with current market expectations of £6.5m.

Oliver Whittaker

Chief Financial Officer

Consolidated Income Statement

For the year ended 31 July 2026

Profit for the year is wholly attributable to equity holders of the Company. The Company has elected to take the exemption under section 408 of the Companies Act 2006 from presenting the Parent Company Income Statement.

Reconciliation to adjusted profit measure

Underlying profit is the Group’s key adjusted profit measure; profit from continuing operations is adjusted to exclude non-underlying income and expenditure as defined in the Group’s accounting policy, amortisation and impairment of goodwill and acquired intangibles, impairment of leased right-of-use assets and net foreign exchange gains or losses.

Consolidated Statement of Comprehensive Income

For the year ended 31 July 2026

Consolidated and Company Statements of Financial Position

As at 31 July 2026

The amount of profit generated by the Parent Company was £2,112,000 for the year ended 31 July 2026 (2025: loss of £1,662,000).  

The accompanying notes form part of these Financial Statements.

The Financial Statements were approved by the Board of Directors on 2 November 2026 and signed on its behalf by  

Oliver Whittaker

Chief Financial Officer

Consolidated and Company Statements of Changes in Equity

For the year ended 31 July 2026

B) Company 

Consolidated Cash Flow Statement

For the year ended 31 July 2026

Net increase in cash and cash equivalents from discontinued operations was £Nil (2025: £373,000).

Notes Forming Part of the Financial Statements

1 The Group and Company Material Accounting Policies

1.1 The Business of the Group

Gattaca plc (the Company) and its subsidiaries (together the Group) is a human capital resources business providing contract and permanent recruitment services in the private and public sectors across the UK, Europe and North America regions. The Company is a public limited company, which is listed on the Alternative Investment Market (AIM) and is incorporated and domiciled in England, United Kingdom. The Company’s address is 1450 Parkway, Solent Business Park, Whiteley, Fareham, Hampshire, PO15 7AF. The registration number is 04426322.

1.2 Basis of preparation of the Financial Statements

The consolidated Financial Statements of Gattaca plc have been prepared in accordance with UK-adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The Company’s Financial Statements have been prepared in accordance with Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ and the Companies Act 2006.

As permitted by Section 408 of the Companies Act 2006, the Company’s Income Statement has not been presented. The Company, as permitted by FRS 101, has taken advantage of the disclosure exemptions available under that standard in relation to:

• Cash Flow Statement and related notes;

• Financial instruments;

• Disclosures in respect of transactions with wholly owned subsidiaries;

• The effects of new but not yet effective IFRSs;

• Disclosures in respect of the compensation of Key Management Personnel; and

• Disclosures of transactions with a management entity that provides key management personnel services to the Company.

As the consolidated Financial Statements of Gattaca plc include the equivalent disclosures, the Company has also taken the exemptions under FRS 101 available in respect of the following disclosures:

• IFRS 2 Share-Based Payments in respect of group settled share-based payments; and

• Certain disclosures required by IAS 36 Impairment of assets in respect of the impairment of goodwill and indefinite life intangible assets.

These Financial Statements have been prepared under the historical cost convention. The accounting policies have been applied consistently to all years throughout both the Group and the Company for the purposes of preparation of these Financial Statements. A summary of the principal accounting policies of the Group is set out below.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated Financial Statements, are disclosed in Note 1.23.

1.3 Going concern

The Group’s business activities, 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 and liquidity are described in the Chief Financial Officer’s Report.

At the year end the Group reported a strong Statement of Financial Position with net cash of £15.4m (2025: £15.7m). The Group ensures the availability of working capital through close management of customer payment terms. There is sufficient headroom on our working capital facilities to absorb a level of customer payment term extensions, but we would also manage supply to the customer if payment within an appropriate period was not being made. Whilst there is no evidence that it would occur, a significant deterioration in average payment terms has the potential to impact the Group’s liquidity.

The Directors have prepared detailed cash flow forecasts, covering a period of at least 12 months from the date of approval of these Financial Statements. The forecasts are prepared with appropriate regard for the current macroeconomic headwinds and particular circumstances in which the Group operates, including demand and candidate sentiment across the UK recruitment sector and the economic outlook for STEM markets in the UK in which our customers operate. The forecasts assume sustained growth in NFI and cost optimisation aligned with the Group’s strategic priorities.

We continue to see permanent recruitment remaining subdued, in line with our peers, and our focus remains on contractor growth, which takes longer to reflect in NFI. As such we expect profitability will continue to be weighted to second half of the year for FY27. Strong contract pipelines in our largest five sectors underpin the Group’s Net Fee Income expectations for FY27 and beyond.

The output of the forecasting process has been used to perform sensitivity analysis on the Group’s cash flows to the potential effects should principal risks actually occur. The sensitivity analysis modelled a severe but plausible scenario including:

• Reduced below-inflation NFI growth of 2% per annum;

• Increased operating costs by 1% per annum; and

• Customer payment terms extended by five days.

The effects of commercial mitigating actions that the Directors would implement in response to adverse changes in the Group’s profitability and liquidity were excluded.

Given the nature of the temporary and contract recruitment business, significant working capital inflows typically arise in periods of severe downturn, thus protecting short-term liquidity. The sensitised forecasts illustrate that the Group’s liquidity is resilient to adverse changes in profitability and customer payment terms. The sensitised forecasts show a 57% reduction in net cash at 31 July 2027 to £6.1m.

A key assumption in preparing the cash flow forecasts is the continued availability of the Group’s invoice financing facility from HSBC throughout the forecast period. The unutilised facility headroom at 31 July 2026 was £32.0m (2025: £33.8m). The current £40m (2025: £50m) facility has no contractual renewal date; the Directors remain confident that the facility will remain available. The reduction in facility by £10m reflects the Group’s assessment of its funding requirements.

The Directors have assessed the potential impact of ongoing geopolitical uncertainties, including military conflicts in the Middle East and Ukraine and changes in US trade policy, on the Group's operations and going concern assessment. The Group does not operate in the Middle East or Ukraine and has limited exposure to the US market. As a provider of recruitment services, the Group has no direct exposure to tariffs and sanctions in these regions.

After making appropriate enquiries and considering key judgements and assumptions described above, the Directors have a reasonable expectation at the time of approving these Financial Statements that the Group and the Company have adequate resources to continue in operational existence for the foreseeable future. Following careful consideration, the Directors do not consider there to be a material uncertainty with regards to going concern and consider it is appropriate to adopt the going concern basis in preparing these Financial Statements.

1.4 New standards and interpretations

The following are new standards or improvements to existing standards that are mandatory for the first time in the Group’s accounting period beginning on 1 August 2025 and no new standards have been early adopted. The Group’s July 2026 consolidated Financial Statements have adopted these amendments to IFRS:

• IAS 21 - Amendments to IAS 21 : The Effects of Changes in Foreign Exchange Rates (effective 1 January 2025)

There have been no alterations made to the accounting policies as a result of considering all of the amendments above that became effective in the year, as these were either not material or were not relevant to the Group or Company.

New standards in issue, not yet adopted

The Group has not yet adopted certain new standards, amendments and interpretations to existing standards, which have been published but which are effective for the Group accounting periods beginning on or after 1 August 2026. These new pronouncements are listed as follows:

• Amendments to IFRS 9 and IFRS 7: Classification and Measurement of Financial Instruments (effective 1 January 2026)

• Annual Improvements to IFRS Accounting Standards - Volume 11 (effective 1 January 2026)

• IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures (Amendment): Contracts Referencing Nature-dependent Electricity (effective 1January 2026)

• IFRS 18 Presentation and Disclosure in Financial Statements, replacing IAS1 (effective 1 January 2027)

The Directors are currently evaluating the impact of the adoption of all other standards, amendments and interpretations but do not expect them to have a material impact on the Group’s operations or results.

1.5 Basis of consolidation

Subsidiaries are entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date on which that control ceases. The results of all subsidiaries, including those with non-coterminous reporting dates, are consolidated in line with the Group's financial reporting period.

The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred to the former owners of the acquiree, and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangements. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. The Group recognises any non-controlling interest in the acquiree on an acquisition-by-acquisition basis, either at fair value or at the non-controlling interest’s proportionate share of the recognised amounts of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred.

Intercompany transactions, balances and unrealised gains and losses on transactions between Group companies are eliminated. Where necessary, amounts reported by subsidiaries have been adjusted to conform to the Group’s accounting policies.

1.6 Revenue

Revenue is measured by reference to the fair value of consideration received or receivable by the Group for services provided, excluding VAT and trade discounts.

The Group is the principal for both its temporary and permanent placements and as such presents its revenue gross, being the whole amount collected from its customers, and then presents Net Fee Income as gross profit.

Contractual rebate arrangements in respect of volume and value of sales are variable consideration reducing revenue and are estimated at the most likely amount of consideration based on forecasts of customer activity informed by historical experience.

Temporary placements

Revenue from temporary (contract) placements, which represents amounts billed for the services of temporary workers including the salary costs of those workers, is recognised over time in line with when the temporary worker provides services, typically over a weekly or monthly timesheet period. Customers are invoiced in arrears following receipt of an approved timesheet; timing differences between the provision of services and invoicing are recognised as accrued income. Customer credit terms are between 30 and 60 days.

The Group has assessed its use of third party providers to supply temporary workers under the agent or principal criteria and has determined that it is the principal because it retains primary responsibility for provision of the services.

Permanent placements

Revenue from permanent placements on non-retained assignments, which is typically based on a percentage of the candidate’s remuneration package, is recognised at a point in time when the candidate commences employment. For retained assignments, revenue is recognised in line with completion of defined stages of work. Customers are invoiced in arrears following commencement of the candidate’s employment; timing differences between the provision of services and invoicing are recognised as accrued income. Customer credit terms are between 30 and 60 days.

Some permanent placements are subject to a claw-back period whereby if a candidate leaves within a defined period of starting employment, the customer is entitled to a rebate subject to the Group’s terms and conditions. Provisions as a reduction to revenue are recognised for such arrangements if considered probable.

Revenue cut-off: temporary and permanent placements

Revenue is recognised in the financial year to which it relates, to the extent that the Group has, within two months of the year-end date, received confirmation that the contractual performance obligation has been satisfied; either through receipt of a client-approved timesheet or confirmation of commencement of employment (for permanent placements).

Statement of work

Revenue from statement of work packages includes the provision of engineering management services, where the customer benefits from the services provided as the Group performs those services, is recognised over time. Progress against long-term contractual performance obligations is estimated using an input method, by reference to the proportion of costs incurred to date compared with total expected costs for the contract. This is considered to best reflect the benefit the customer receives from the Group's performance.

Other

Other fees mainly relate to the management of our recruitment process outsourcing services. Revenue from other fees is recognised either at a point in time if we have agreed a fee per placement or over time if we have agreed a fee for managing the recruitment process during a certain period.

1.7 Non-underlying items

Non-underlying items are income or expenditure that are considered unusual or separate to underlying trading results because of their size, nature or incidence and are presented within the Consolidated Income Statement but highlighted through separate disclosure. The Directors consider that these items should be separately identified within the Income Statement to enable a proper understanding of the Group’s business performance.

Items which are included within this category include but are not limited to:

• restructuring costs, including related professional fees and staff costs, and costs relating to disposal and closure of discontinued business;

• costs of acquisitions;

• lease exit costs; and

• integration costs following acquisitions.

In addition, the Group also excludes from underlying results amortisation of acquired intangibles, impairments (excluding expected credit loss allowances for trade receivables and accrued income) and net foreign exchange gains or losses.

Specific adjusting items are included as non-underlying based on the following rationale:

1.8 Business Combinations

The acquisition method of accounting is used to account for all business combinations in accordance with IFRS 3. The cost of an acquisition is measured as the total fair value of the consideration transferred in exchange for control of the acquired business. Consideration transferred may include cash, equity instruments or contingent consideration. Contingent consideration is measured at fair value at the acquisition date and remeasured subsequently through the Income Statement.

Acquisition‑related costs are expensed as incurred and recognised within administrative expenses.

At the acquisition date, identifiable assets acquired and liabilities assumed are recognised at their fair values.

Any excess of the consideration transferred over the Group’s share of the net fair value of identifiable assets and liabilities is recognised as goodwill. If the fair value of net assets acquired exceeds the consideration transferred, the resulting bargain purchase gain is recognised immediately in the Income Statement.

1.9 Property, plant and equipment

Property, plant and equipment is stated at cost, net of depreciation and any provision for impairment.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset in terms of annual depreciation as follows:

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

1.10 Goodwill

Goodwill arising on business combinations represents the excess of the fair value of the consideration given for a business over the Company’s interest in the fair value of the net identifiable assets, liabilities and contingent liabilities of the acquiree. Goodwill is stated at cost less accumulated impairments.

Goodwill impairment reviews are undertaken annually, or more frequently if events or changes in circumstances indicate a potential impairment. Goodwill is allocated to cash-generating units (CGUs), being the lowest level at which goodwill is monitored. The carrying value of the assets of the CGU, including goodwill, intangible and tangible assets, leased right-of-use assets and working capital balances, is compared to its recoverable amount, which is the higher of value in use and fair value less costs to sell. Any excess in carrying value over recoverable amount is recognised immediately as an impairment expense and is not subsequently reversed. Gains and losses on the disposal of a business are reported net of the carrying amount of any corresponding goodwill.

1.11 Intangible assets

Customer relationships

Customer relationships comprise principally of existing customer relationships which may give rise to future orders, and existing order books. They are recognised at fair value at the acquisition date and subsequently measured at cost less accumulated amortisation and impairment. Customer relationships are determined to have a useful life of ten years and are amortised on a straight-line basis.

Trade names and trademarks

Trade names and trademarks, acquired as part of a businesses or separately purchased, are initially recognised at fair value at the acquisition date and subsequently measured at cost less accumulated amortisation and impairment. Trade names and trademarks are determined to have a useful life of ten years and are amortised on a straight-line basis.

Software and software licences

Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and bring into use the specific software. Software and software licences are determined to have a useful life of between two and five years and are amortised on a straight-line basis. Subsequent licence renewals are expensed to the Income Statement as incurred.

Costs incurred for the development of software code that enhances or modifies, or creates additional capability to existing on premise systems and meets the definition of and recognition criteria for an intangible asset are recognised as intangible software assets and amortised over a useful life of between two and ten years. The remaining amortisation period of software and software licences is between one and eight years on a straight-line basis.

Intangible assets are tested for impairment either as part of a goodwill-carrying cash-generated unit, or when events arise that indicate an impairment may be triggered. An impairment loss is recognised for the amount by which the carrying value of intangible assets exceeds the recoverable amount. The recoverable amount is the higher of the assets’ fair value less costs of disposal and value in use.

Amortisation of intangible assets and impairment losses are recognised in the Income Statement within administrative expenses.

1.12 Investments

Investments in subsidiary undertakings are initially recognised at cost and subsequently carried at cost less accumulated impairment.

Investments are tested for impairment at the reporting date if events arise that indicate an impairment may be triggered. An impairment loss is recognised for the amount by which the carrying amount of the investment exceeds its recoverable amount. The recoverable amount is the higher of fair value less costs of disposal and value in use. Impairment losses on investments are recognised in the Income Statement in administrative expenses.

1.13 Leases

The Group leases office property, motor vehicles and equipment. Rental contracts typically range from monthly to five years.

At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Assets and liabilities arising from a lease are initially measured at present value at the lease commencement date. Lease liabilities include the net present value of the fixed payments less any lease incentives receivable, variable lease payments that are based on an index or a rate, amounts expected to be payable by the Group under residual value guarantees, the exercise price of any purchase option if the Group is reasonably certain to exercise that option, and payments of penalties for terminating the lease if that option is expected to be taken. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.

Lease payments are discounted at either the interest rate implicit in the lease or when this interest rate cannot be readily determined, the Group’s incremental borrowing rate is associated with a similar asset. When calculating lease liabilities, the Group uses its incremental borrowing rate, being the rate it would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic climate with similar terms, security and conditions. This is estimated using publicly available data adjusted for changes specific to the lease in financing conditions, lease term, country and currency.

The Group does not have leases with variable lease payments based on an index or rate.

Extension or termination options are included in a number of the Group’s leases. In determining the lease term, the Group considers all facts and circumstances that create an economic incentive to exercise, or not to exercise, an option. Extension options are only included in the lease term if the lease is reasonably certain to be extended. The lease term is reassessed if an option is actually exercised or the Group becomes obliged to exercise (or not to exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs that is within the control of the Group.

Lease payments are allocated between principal and finance cost. The finance cost is charged to the Income Statement over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

Right-of-use assets are measured at cost comprising the following:

• the amount of the initial measurement of lease liability;

• any lease payments made at or before the commencement date less any lease incentives received;

• any initial direct costs; and

• restoration costs.

Right-of-use assets are depreciated on a straight-line basis over the term of the lease with depreciation expense recognised in the Income Statement.

Right-of-use assets are tested for impairment either as part of a goodwill-carrying cash-generated unit, or when events arise that indicate an impairment may be triggered. An impairment loss is recognised for the amount by which the carrying value of right-of-use assets exceeds the recoverable amount. The recoverable amount is the higher of the asset’s fair value less costs of disposal and value in use. Impairment losses on right-of-use assets are recognised in the Income Statement in administrative expenses.

Lease modifications are a change in scope of a lease that was not part of the original lease. Any change that is triggered by a clause already part of the original lease contract is a reassessment and not a modification. Changes to lease cash flows as part of a reassessment may result in a remeasurement of the lease liability using an updated discount rate where required by the standard.

Advantage has been taken of the practical expedients for exemptions provided for leases with less than 12 months to run, for leases of low value assets, and to account for leases with similar characteristics as a portfolio with a single discount rate. Payments associated with short-term leases and leases of low value are recognised on a straight-line basis as an expense in the Income Statement/

Sublease of office space at certain of the Group’s leased properties is accounted for in accordance with IFRS 16; the right-of-use asset relating to the head lease is derecognised to the extent that control of the asset (or a proportion thereof) is transferred to the sublessee, and the net investment in the sublease is recognised as a net finance lease receivable. The lease liability relating to the head lease, representing future lease payments due to the head lessor, is unaffected by the sublease arrangement.

1.14 Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

The current tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts expected to be paid to the tax authorities.

Deferred income taxes are calculated using the liability method on temporary differences. Deferred tax is generally provided on the difference between the carrying amounts of assets and liabilities and their tax bases. However, deferred tax is not provided on the initial recognition of goodwill, nor on the initial recognition of an asset or liability unless the related transaction is a business combination or affects tax or accounting profit.

Deferred tax liabilities are provided in full, with no discounting. Deferred tax assets are recognised to the extent that it is probable that the underlying deductible temporary differences will be able to be offset against future taxable income. Current and deferred tax assets and liabilities are calculated at tax rates that are expected to apply to their respective period of realisation, provided they are enacted or substantively enacted at the reporting date.

Deferred tax on temporary differences associated with shares in subsidiaries is not provided for if these temporary differences can be controlled by the Group and it is probable that reversal will not occur in the foreseeable future.

Deferred tax assets and liabilities are offset only where there is a legally enforceable right to the offset and there is an intention to settle balances on a net basis.

Changes in deferred tax assets or liabilities are recognised as a component of tax expense in the Income Statement, except where they relate to items that are charged or credited directly to equity (such as share-based payments) in which case the related deferred tax is also charged or credited directly to equity.

1.15 Pension costs

The Group operates a number of country-specific defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in other payables in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

1.16 Share-based payments

All share-based remuneration is ultimately recognised as an expense in the Income Statement with a corresponding credit to the share-based payment reserve. All goods and services received in exchange for the grant of any share-based remuneration are measured at their fair values. Fair values of employee services are indirectly determined by reference to the fair value of the share options awarded. Their value is appraised at the grant date and excludes the impact of non-market vesting conditions (for example, profitability and sales growth targets).

If vesting periods or other non-market vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates. Any cumulative adjustment prior to vesting is recognised in the current period. No adjustment is made to any expense recognised in prior periods if share options ultimately exercised are different to that estimated on vesting.

Upon exercise of options settled, the treasury shares reserve is credited with the cost of shares delivered. The related share-based payment reserve and any difference between exercise proceeds and share cost are transferred to retained earnings.

The Company is the granting and settling entity in the Group share-based payment arrangement where share options are granted to employees of its subsidiary companies. The Company recognises the share-based payment expense as an increase in the investment in subsidiary undertakings.

The Group operates a Long-Term Incentive Plan (LTIP) share options scheme for Executive Directors and senior management. Options have exercise prices at or above £0.01. Grants have been made as part of a CSOP scheme, depending on the terms of specific grants.

The Group operates a High Performer Share Incentive Scheme for eligible UK-based employees. Participants may elect to receive either Gattaca plc shares or a cash award. Employees who elect the cash alternative receive payment through payroll, while those who elect to receive shares enter the share award process. Awards vest and are settled immediately upon election and are not subject to any further performance or service conditions. Share awards are satisfied using shares held by the APEX Employee Benefit Trust. Following settlement of the award selected by the employee, the Group has no further obligations under the scheme.

The Group also operates a Share Incentive Plan (SIP), the Gattaca plc Share Incentive Plan (The Plan), which is approved by HMRC. The Plan is held by Gattaca plc UK Employee Benefit Trust (the SIP EBT), the purpose of which is to enable employees to purchase Company shares out of pre-tax salary. For each share purchased the Group grants an additional share at no cost to the employee. The expense in relation to these ‘matched’ shares is recorded as employee remuneration and measured at fair value of the shares issued as at the date of grant. The assets and liabilities of the SIP EBT are included in the Consolidated Statement of Financial Position.

1.17 Financial instruments

Financial assets

IFRS 9 contains a classification and measurement approach for financial assets that reflects the business model in which assets are managed and their cash flow characteristics. Under IFRS 9, all financial assets are measured at either amortised cost, fair value through profit and loss (FVTPL) or fair value through other comprehensive income (FVOCI).

Financial assets: debt instruments

The Group’s debt instruments are initially recognised at fair value, including transaction costs that are directly attributable to their acquisition of issue, and are subsequently measured at amortised cost.

Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in other gains/(losses), together with foreign exchange gains and losses.

Impairment of financial assets

IFRS 9 requires the application of the Expected Credit Loss model (ECL). This applies to all financial assets except equity investments.

The Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments.

The Group has reviewed each category of its financial assets to assess the level of credit risk and ECL allowance to apply:

• Trade receivables: the Group has chosen to take advantage of the practical expedient in IFRS 9 when assessing default rates over its portfolio of trade receivables, to estimate the ECL allowance based on historical default rates specific to groups of customers by industry and geography that carry similar credit risks.

• Accrued income is in respect of temporary placements where a candidate has provided services or permanent placements where a candidate has commenced employment, but no invoice has been raised. Default rates have been determined by reference to historical data.

• Cash and cash equivalents are held with established financial institutions. The Group has determined that based on the external credit ratings of counterparties, this financial asset has a very low credit risk and that the estimated expected credit loss allowance is not material.

The Company assesses credit risk and ECL allowance over amounts due from Group undertakings in the context of subsidiary trading results and net assets. At each reporting date, the ECL allowance is reviewed to reflect changes in credit risk and historical default rates and other economic factors. A customer is considered to be in default when there is evidence of significant financial difficulty, non-payment beyond agreed terms or insolvency. A customer balance is written off when recovery is considered unlikely and management has exhausted all reasonable steps to recover the outstanding amount. Changes in the ECL allowance are recognised in the Income Statement within administrative expenses.

Financial liabilities

Financial liabilities are obligations to pay cash or other financial assets and are recognised when the Group becomes a party to the contractual provisions of the instrument. Financial liabilities comprise trade and other payables, bank borrowings and financial liabilities measured at fair value. Financial liabilities are initially recognised at fair value, net of directly attributable transaction costs, except for financial liabilities measured at fair value for which transaction costs are recognised in the Income Statement as incurred. Subsequent measurement depends on the classification of the liability. Financial liabilities measured at amortised cost are subsequently measured using the effective interest rate method, while financial liabilities measured at fair value are remeasured to fair value at each reporting date, with changes recognised in the Income statement.

A financial liability is derecognised only when the obligation is extinguished, that is, when the obligation is discharged, cancelled or expires.

Non-recourse receivables factoring is not recognised as a financial liability as there is no contractual obligation to deliver cash; subsequently, the receivables are de-recognised and any difference between the receivable value and amount received through non-recourse factoring is recognised as a finance cost.

1.18 Cash and cash equivalents

In the Consolidated Cash Flow Statement, cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Statement of Financial Position and Cash Flow Statement, bank overdrafts are netted against cash and cash equivalents where the offsetting criteria are met.

Cash in transit inbound from, or outbound to, a third party is recognised when the transaction is no longer reversible by the party making the payment. This is determined to be in respect of all electronic payments and receipt transactions that commence before or on the reporting date and complete within one business day after the reporting date.

Restricted cash and cash equivalent balances are those which meet the definition of cash and cash equivalents but are not available for wider use by the Group. These balances arise from the Group’s non-recourse working capital arrangements as well as from balances for which the Group cannot access the accounts and hence cannot withdraw funds but is still the legal owner.

1.19 Provisions

Provisions are recognised where the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses.

1.20 Dividends

Dividends proposed but not approved as at the reporting date are not recognised as a liability, as no present obligation exists at that date. Dividends approved after the reporting date are disclosed as a non-adjusting event in the notes to the Financial Statements.

1.21 Foreign currencies

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which each entity operates (the functional currency). The consolidated financial statements are presented in Pounds Sterling (£GBP), which is the Group’s presentation currency.

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the reporting date. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Income and expenses are translated at the actual rate.

Any exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were initially recorded are recognised in the Income Statement in the year in which they arise.

The assets and liabilities in the Financial Statements of foreign subsidiaries are translated at the rate of exchange ruling at the reporting date.

The individual financial statements of each Group company are presented in its functional currency. On consolidation, the assets and liabilities of overseas subsidiaries, including any related goodwill, are translated to Sterling at the rate of exchange at the reporting date. The results and cash flows of overseas subsidiaries are translated to Sterling using the average rates of exchange during the period. Exchange adjustments arising from retranslation of the opening net investment and the results for the period to the period end rate are accounted for in the translation reserve in the statement of Comprehensive Income. On divestment, these exchange differences are reclassified from the translation reserve to the Income Statement.

1.22 Equity

Equity comprises the following:

• Share capital represents the nominal value of equity shares.

• Share premium represents the excess over nominal value of the fair value of consideration received for equity shares, net of expenses of the share issue.

• Capital redemption reserve represents the nominal value of equity shares that have been cancelled and are no longer in issue.

• Merger reserve represents the equity balance arising on the merger of Matchtech Engineering and Matchmaker Personnel, less any amounts subsequently realised and reclassified to distributable reserves.

• Share-based payment reserve represents equity-settled share-based employee remuneration until such share options are exercised or lapse.

• Translation reserve represents the foreign currency differences arising on translating foreign operations into the presentational currency of the Group.

• Treasury shares reserve represents Company shares purchased directly by the Group to satisfy obligations under the employee share plans.

• Retained earnings represents retained profits.

1.23 Critical accounting judgements and key sources of estimation uncertainty

Preparation of the Consolidated Financial Statements requires judgement, estimations and assumptions to be made in conformity with IFRS requirements. Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Group and that are believed to be reasonable under the circumstances.

The Directors have considered the impact of climate change on the Group and have concluded that there is no material impact on financial reporting judgements and estimates, the long-term viability of the Group, and carrying value of goodwill, other intangibles or property and plant and equipment. Whilst the Directors have concluded that there is no material impact of climate change on the financial reporting judgements and estimates for the current year, the Group will continue to monitor these risks and their potential impacts in the future.

Critical accounting judgements

Judgement of indicators of impairment for investments in subsidiaries (Parent Company)

The Parent Company's investments in subsidiary undertakings are assessed for impairment at each reporting date where indicators of impairment exist. Determining the recoverable amount requires the exercise of judgement and consideration of available evidence, including the Group's market capitalisation and other relevant factors, to assess whether the carrying value of the investments remains recoverable. Further information regarding the assessment performed is provided in Note 16.

At the reporting date, the Directors reassessed the recoverability of the Company’s investments following the impairments recognised in the prior years. Whilst no further impairment indicators were identified, the evidence available at the reporting date does not provide a sufficiently robust basis for reversing impairments recognised in prior periods. Accordingly, no impairment reversal has been recorded in the current year. Further details are provided in Note 16.

The Directors have concluded that there are no critical accounting judgements that carry a risk of causing a material adjustment within the next 12 months.

Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that carry a risk of causing a material adjustment within the next 12 months are discussed below:

Estimating Expected Credit Loss (ECL) allowances in respect of trade receivables, accrued income and cash and cash equivalents

Trade receivables and accrued income

The Group’s policy for default risk over receivables is based on the ongoing evaluation of the credit risk of its trade receivables. Estimation is used in assessing the ultimate realisation of these receivables, including reviewing the potential likelihood of default, the past collection history of each category of customers, any insurance coverage in place and the current and future economic conditions. As a result, an ECL allowance for impairment of trade receivables and accrued income has been recognised, as discussed in Note 18.

The Group has performed sensitivity analysis over its general expected loss allowances rates as a key accounting estimate. As at 31 July 2026, a 50 basis points increase in the general expected loss allowances rates applied by the Group would result in a charge to the Income Statement for impairment losses of £205,000 for trade receivables and £105,000 for accrued income.

Estimating recoverable amount of goodwill

In assessing impairment, management estimates the recoverable amount of each asset or cash generating unit based on expected future cash flows and uses an interest rate to discount them. Estimation uncertainty relates to assumptions about future operating results and the determination of suitable growth rates and discount rate as inputs to the value-in-use model. More detail on the assumptions used can be found in Note 13.

At the reporting date, the recoverable amount of the Energy CGU’s assets was £5,188,000, an excess of £1,427,000 above the carrying amount. During FY26 the Group acquired 100% of the share capital of HC 1344 Limited, the 100% holding company of InfoSec People Limited, resulting in the recognition of goodwill on acquisition. At the reporting date the recoverable amount of the InfoSec CGU's assets was £3,759,000, an excess of £1,882,000 above the carrying amount. The Directors have therefore concluded that the CGU’s goodwill and intangible assets are not impaired. Sensitivity analysis has been undertaken on changes in the key assumptions representing a reasonably possible downside scenario, further details can be found in Note 13.

Other areas of judgement and accounting estimates

The consolidated financial statements include other areas of judgement and accounting estimates. While these areas do not meet the definition under IAS 1 of significant accounting estimates or critical accounting judgements, the recognition and measurement of certain material assets and liabilities are based on assumptions and/or are subject to longer term uncertainties. The other areas of judgement and accounting estimates are:

• Revenue from contracts with customers: Contractual rebate arrangements are variable consideration reducing revenue and are estimated at the most likely amount of consideration based on forecasts of customer activity informed by historical experience.

• Accrued income: Relates to the Group’s right to consideration for temporary and permanent placements where services have been performed and contractual performance obligations satisfied but the customer has not yet been billed at the reporting date. Accrued income in respect of late contractor timesheets and permanent placement notifications is estimated at each reporting date based upon historic timesheet data and current run rates.

• Other revenue: Progress against long-term contractual performance obligations is estimated using an input method, by reference to the proportion of costs incurred to date compared with total expected costs for the contract. This is considered to best reflect the benefit the customer receives from the Group’s performance.

• Non-underlying items: Management apply judgement in the classification of income and expenditure as non-underlying items, separate to underlying trading results because of their size, nature or incidence. Refer to Note 4 for further details.

• Non-current assets: Useful lives and residual values of depreciable assets. Refer to Note 14 (Intangible Assets) and Note 15 (Property, Plant and Equipment) for further details.

• Deferred taxation: Unrecognised deferred tax assets in connection with overseas operations. Refer to Note 17 for further details.

• Provisions: Valuation and expected timing of realisation of dilapidation provisions and other provisions. Refer to Note 19 for further details.

• Equity-settled share-based payment arrangements: Valuation of and vesting probabilities of share options under the Long-Term Incentive Plan. Refer to Note 24 for further details.

• Contingent liabilities: Matters in connection with potential claims against the Group over which the outcome is uncertain, or the likelihood of a future material economic outflow is not probable and an estimate cannot be measured reliably. Refer to Note 29 for further details.

Climate-related matters

The long-term consequences of climate change on the financial statements are difficult to predict and require the Group to make significant assumptions and develop estimates, as described above. Assumptions used by the Group are subject to uncertainties, including relating to future regulatory changes, new environmental commitments made by the Group to meet its emission reduction goals and development of new technologies. Due to these uncertainties, results reported in the Group’s future financial statements could differ from the estimates established at the time these Financial Statements were approved.

2 Segmental Information

An operating segment, as defined by IFRS 8 ‘Operating segments’, is a component of the Group that engages in business activities from which it may earn revenues and incur expenses.

The Gattaca plc Group defines its operating segments by reference to the sectors in which it operates. Segmentation of the Group’s activities by sector is consistent with the segmentation of information provided internally to the chief operating decision maker, being the Board of Directors of Gattaca plc. The key measures used by decision makers are Gross profit and Operating profit/(loss).

Reportable segments are identified by reference to quantitative and qualitative thresholds prescribed in IFRS 8. There were no operating segments that met the criteria for aggregation with other operating segments.

Year ended 31 July 2026

Year ended 31 July 2025 restated2

A segmental analysis of total assets has not been included as this information is not used by the Board; the majority of assets are centrally held and are not allocated across the reportable segments.

1 Following changes in internal management reporting, segments that no longer meet the IFRS 8 quantitative thresholds for separate disclosure (Mobility, Commercial & Professional Skills, InfoSec People and International) have been aggregated within the "Other" segment. Prior-year comparatives have been restated accordingly.

2 During the current year, the basis for adjusting internal revenue was updated to more accurately reflect sector performance. Previously, internal revenue eliminations were allocated across sectors based on each sector’s proportion of total revenue; these eliminations are now recorded against the sectors to which the underlying internal revenue relates. Comparative information has been restated to ensure consistency with the current year's presentation.

Geographical information

Revenue and non-current assets are allocated to the geographical market based on the domicile of the respective subsidiary.

3 Revenue from Contracts with Customers

Revenue from contracts with customers is disaggregated by major service line and operating segment, as well as timing of revenue recognition as follows:

Major service lines – continuing underlying operations

Timing of revenue recognition – continuing operations

1 Following changes in internal management reporting, segments that no longer meet the IFRS 8 quantitative thresholds for separate disclosure (Mobility, Commercial & Professional, InfoSec People and International) have been aggregated within the "Other" segment. Prior-year comparatives have been restated accordingly.

2 During the current year, the basis for adjusting internal revenue was updated to more accurately reflect sector performance. Previously, internal revenue eliminations were allocated across sectors based on each sector’s proportion of total revenue; these eliminations are now recorded against the sectors to which the underlying internal revenue relates. Comparative information has been restated to ensure consistency with the current year's presentation.

In accordance with IFRS 8, the Group is required to disclose information about major customers. During the year ended 31 July 2026, revenues of £52.3 million (2025: £50.6 million) were derived from a single external customer, representing approximately 11.8% (2025: 12.7%) of the Group’s total revenue. These revenues were reported within the Defence segment.

The Group had no other customers from whom revenues exceeded 10% of total revenue during the year.

The Group has applied the practical expedient available under IFRS 15.121 and, accordingly, has not disclosed information relating to remaining performance obligations for contracts with an original expected duration of one year or less.

The Group’s contract liabilities from contracts with customers are deferred income. The Group has no contract assets from contracts with customers.

Deferred income at a given reporting date is recognised as revenue in the following financial year once performance obligations are satisfied and is classified in current liabilities.

4 Profit from Total Operations

1 During FY25, the Group recognised income relating to the recovery of previously written-off receivables from Huawei Technologies Zimbabwe for debts written off between 2018 and 2020.

The aggregate auditors’ remuneration was as follows:

The auditors do not provide any non-audit services.

Non-underlying items included within administrative expenses were as follows:

1 Restructuring costs of £226,000 (2025: £313,000) were recognised for employee exit costs arising as a result of targeted, small scale, team rationalisations.

2 Ongoing costs relating to closure of entities and operations closed more than two years ago. Given that these operations have been closed for more than two years and no further trading activities or associated costs remain, the Group accordingly presents the ongoing corporate closure costs as continuing.

3 On 4 August 2025, the Group acquired the entire issued share capital of HC1344 Limited and its subsidiary, InfoSec People Limited. Acquisition-related costs of £87,000, comprising legal and professional advisory fees, were recognised as an expense in the consolidated statement of comprehensive income during FY26, as required by IFRS3. In addition, the Group incurred £13,000 of post-acquisition integration costs during the year, which were also recognised as an expense.

5 Particulars of Employees

The monthly average number of staff employed by the Group, including Directors, during the financial year amounted to:

1 During the current year, a review of employee headcount reporting within the Group's South African operations resulted in an update to the average employee numbers disclosed. Comparative figures for FY25 have been restated accordingly. The restatement affects the presentation of headcount information only and has no impact on the Group's reported profit, net assets or cash flows.

UK employees are directly contracted with the ultimate Parent Company, Gattaca plc, and staff costs are paid by Matchtech Group (UK) Limited, then recharged to fellow UK subsidiaries.

The aggregate payroll costs of the above were: