annual report  financial statements
for the year ended 31 march 2012
nakama group plc
formerly highams systems services group plc
a digital media and business technology recruitment consultancy working across 
uk europe asia and australasia 
version 3 nakama group plc
quadrant house
3345 croydon road
caterham surrey cr3 6pb
t 44 0 1883 341144
f 44 0 1883 346699
e hello   nakamaglobalcom
wwwnakamaglobalcom group at a glance
our markets
nakama group includes nakama a global recruitment consultancy for the digital technology and interactive media
industry with offices in london hong kong sydney and melbourne nakama provides permanent and contract
recruitment services included within the group is highams recruitment limited which provides technology
business and professional services professionals to the financial sector specialising in insurance and investment
management on a contract interim and permanent basis the group’s main client base ranges from the niche
sme sector to larger corporate organisations
our consultants contractors and applicants
our speciality is finding excellent career opportunities and assignments for senior it  business and professional services
talent we are constantly developing our relationships and networks to ensure we obtain the best available positions for
such talent whilst ensuring that their skills and personalities are compatible with the needs of our clients
our people
at nakama we work hard to develop and maintain longterm relationships with our clients contractors and applicants t o do this
we focus on the development and retention of our experienced staff to ensure they are among the most knowledgeable in the
industry  both in terms of recruitment best practice and the niche markets in which nakama operates
contents
page
operating and financial highlights 1
chairman’s statement 2
chief executive’s statement 3
directors 45
directors and advisers 6
report of the directors 79
statement of directors’ responsibilities 10
corporate governance 11
directors’ remuneration report 12
independent auditor’s report 1314
consolidated income statement 15
consolidated statement of comprehensive income 16
consolidated balance sheet 17
consolidated statement of changes in equity 18
consolidated statement of cash flows 19
notes to the financial statements 2036
company balance sheet 37
notes to the company financial statements 3841
notice of meeting 42
financial calendar 44 nakama group plc annual report 1
operating and ﬁnancial highlights
2012 2011
£’000 £’000
revenue 13298 9020
gross profit 2743 1630
operating profit before exceptional cost depreciation and amortisation 232 321
operating lossprofit for the financial year 85 313
lossprofit for the financial year before tax 180 303
net current assets 332 495
equity 1969 801
lossprofit per share 020p 073p
operational


Summary:
 nakama group plc annual report 1
operating and ﬁnancial highlights
2012 2011
£’000 £’000
revenue 13298 9020
gross profit 2743 1630
operating profit before exceptional cost depreciation and amortisation 232 321
operating lossprofit for the financial year 85 313
lossprofit for the financial year before tax 180 303
net current assets 332 495
equity 1969 801
lossprofit per share 020p 073p
operational