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Registration number: 02689988

Alltask Limited

Annual Report and Audited Financial Statements

for the Year Ended 31 March 2025

 

Alltask Limited

Contents

Company Information

1

Strategic Report

2 to 8

Directors' Report

9 to 10

Statement of Directors' Responsibilities

11

Independent Auditor's Report

12 to 15

Profit and Loss Account and Statement of Retained Earnings

16

Balance Sheet

17

Statement of Changes in Equity

18

Statement of Cash Flows

19

Notes to the Financial Statements

20 to 36

 

Alltask Limited

Company Information

Directors

D R Fincham

D Shearer

S A West

L J Duffy

C Coffield

Alan Bartlett

Company secretary

D Shearer

Registered office

Alltask House Commissioners Road
Medway City Estate Strood
Rochester Kent
Kent
ME2 4EJ

Independent Auditors

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Non-financial and sustainability information

Company Overview

Alltask Ltd is a leading construction and engineering company based in the United Kingdom. With over three decades of experience in the industry, we have earned a reputation for delivering high-quality specialist scaffolding, insulation and asbestos removal, environmental and industrial services to projects across various sectors, including construction, industrial, rail, road, water, refurbishment, housing association, power (generation, transmission, and distribution), energy from waste, industrial process plants (oil & gas), historical heritage and aviation sectors.

Core Values:
1. Integrity: We uphold the highest ethical standards and integrity in all our business dealings. Trust and transparency are the cornerstones of the company's relationships with clients, partners, employees, and the wider community.

2. Commitment to safety: The safety and well-being of every individual on and off the job site are paramount to us. We continuously strive to maintain a safe working environment for our workforce and implement stringent safety protocols to ensure everyone returns home safely.

3. Collaboration: We deeply value each individual's unique perspectives and expertise, fostering a culture of collaboration that is integral to our success. We promote teamwork and open communication to bring out the best in our employees and deliver exceptional results for our clients.

4. Innovation: We are committed to embracing and encouraging innovation and cutting-edge technologies to drive progress in the construction industry. Our active pursuit of innovative approaches to enhance efficiency, sustainability, and project delivery is a source of optimism for the future.

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Business Performance in the Year

We are pleased to present the audited accounts for the financial year ended 31 March 2025.

Financial Performance
Despite prevailing economic challenges, market uncertainties, and the change in the UK government, we have continued to demonstrate resilience and agility, achieving an outstanding financial performance during the year.

Turnover was £49.14m (2024 £38.09m). Profits after tax were £6.36m (2024 £2.03m). Gross profits were £20.57m (2024 £14.01m). Overheads were £12.46m (2024 £11.35m). The EBITDA was £9.07m, 18.46% of turnover (2024 £3.59m, 9.4%).

Our cash flow is meticulously monitored and controlled, with debtor days at 38 days (up from 31 days in 2024). This diligent management highlights our strong financial health.

Our cash reserves were a stable £7.33 million at the end of the year (2024: £5.82m), including the payment of a £2 million dividend. This stability in our cash reserves indicates our robust financial health.

The capital expenditure was £1.91m (£1.24m in 2024), and net equity was £17.72m (£13.38m in 2024).

The board decided to distribute a dividend of £2m in the period, similar to the previous year's dividend of £2m. This decision was made after careful consideration of our financial performance and in alignment with our future growth plans.
 

Objectives and policies

The Company continues to operate within the facilities agreed with its bank. In order to remain competitive within the scaffolding industry the Company regularly updates and maintains both its scaffolding equipment and fleet of vehicles and to this end obtains finance when required.
 

Price risk, credit risk, liquidity risk and cash flow risk

In order to stay competitive the Company prepares monthly management accounts which highlight any financial risks to be addressed. The credit risk that customer accounts will not be received is monitored by credit control and debts are constantly chased when payment terms have been exceeded. The finance agreements and interest related thereto are constantly reviewed and it is ensured that all terms are adhered to.

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Market and Industry Trends

During this period the construction and engineering industry faced several challenges including an inflationary economy, high interest rates, supply chain delays and a change in government investment in infrastructure projects. Despite these challenges, we adapted swiftly to changing market dynamics and remained agile in our approach.

We recognised the increasing importance of sustainability and environmental responsibility, leading us to implement eco-friendly practices and explore innovative green solutions. Moreover, technological advancements continued to shape our industry, and we invested in cutting-edge technologies to enhance project efficiency and deliver superior outcomes.

Skilled staff shortages are a significant industry-wide risk across the industry. We mitigate this via an extensive trainee programme, the largest by any privately owned UK scaffold company.

Headed by our full-time manager for trainee recruitment, CPD, and ongoing mentor support, a two-tier system has been designed for trainees, with the majority supported via our in-house 3-year ALP (Adult Learning Path) and the balance via the traditional Apprenticeship Scheme. The Company currently has 52 ALP/Apprentices across both training schemes. Both schemes benefit from the Alltask Learn to Drive scheme, which supports trainees with a £1000 grant and time off with pay to obtain their driving qualifications.

Our training manager presents at school leavers' career fairs, military resettlement programmes, Jobcentre Plus offices, and events for returning citizens from both our Rochester (Kent) and Luton (Bedfordshire) branches.


 

Future Outlook

As we transition into the next financial year, we remain steadfast in our commitment to our core values of excellence, integrity, and customer-centricity. We will continue to explore opportunities for growth and expansion, including acquisition, always guided by our mission of delivering exceptional outcomes for our clients.

Our dedication to research and development, employee empowerment, and sustainable practices will be pivotal in maintaining our competitive advantage and shaping a promising future. We eagerly anticipate developing stronger partnerships, exploring new markets, and contributing to the construction and engineering industry's progress.
 

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Commitment to Diversity and Inclusion

We firmly believe in creating an inclusive and diverse work environment that celebrates individuality and empowers all employees to reach their full potential. With regards to employing disabled persons, the company has implemented several initiatives and policies:

1. Equal Employment Opportunities: We are an equal opportunity employer, and actively promote a workplace free from discrimination, including disabilities. We evaluate candidates based on skills, qualifications, and experience, ensuring a fair and unbiased selection process.

2. Disability Awareness Training: To foster a more inclusive work culture, we provide disability awareness training to all employees. This training helps raise awareness, dispel misconceptions, and create a more empathetic and supportive workplace.

3. Reasonable Accommodations: We are committed to providing reasonable accommodations to disabled employees, ensuring they have the necessary support and tools to perform their roles effectively. The company strives to accommodate individual needs; whether physical adaptations, flexible work arrangements, or assistive technologies.

4. Career Development: We recognise the importance of professional growth and career advancement for all employees, including those with disabilities. We offer training and development opportunities to help disabled individuals progress within the organisation and take on higher responsibilities.

5. Engagement and Involvement: We encourage disabled employees to actively participate in company initiatives and decision-making processes. The company values their insights and contributions, promoting an inclusive and empowering work environment.

6. Community Outreach: Beyond the workplace, we engage in community outreach programs to support disabled individuals in the broader community. We collaborate with charitable organisations and participate in events to promote inclusivity and help disabled persons' needs.

By embracing diversity and inclusion and ensuring equal opportunities for disabled individuals, we strive to set an industry example and be a company that celebrates and empowers all its employees. The company understands that a diverse workforce drives innovation and enriches the workplace with unique perspectives, fostering a positive and harmonious work environment for all.
 

Energy and Carbon Report

The risks of climate change are considered by the board and risk committee, though, thus far, no significant risks have been identified.

Our carbon emissions increased from 1,268 tonnes in 2023/24 to 1,371 tonnes in 2024/25, representing a 8.1% increase, compared to a 29.0% increase in turnover since 2024. As a % of revenue, it has fallen from 0.0033% to 0.0028%. We are continuing to seek reductions in carbon emissions by renewing our fleet, purchasing electric vehicles, and utilising renewable energy sources where possible.
 

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Employee Involvement

Our core values define who we are and how we operate as a company. Central to our principles is our firm commitment to employee involvement. We firmly believe that our employees are our most valuable assets, and their engagement drives our success.

1. Open Communication: We not only encourage open and transparent communication across all levels of the organisation but also foster it. We are committed to it. Regular team meetings, feedback sessions, and an open-door policy foster an inclusive work environment where every employee's voice is not just heard but valued and respected.

2. Empowerment and Decision-making: We empower our employees to actively participate in decision-making. We tap into their expertise and creativity by involving them in key discussions and initiatives, driving continuous improvement and innovation.

3. Employee Development: We invest in the professional development of our workforce. We provide training, workshops, and mentorship programs, enabling employees to enhance their skills and achieve their career aspirations.

4. Recognition and Rewards: We acknowledge and celebrate the contributions of our employees. We recognise their dedication and hard work through various reward programs, promoting a culture of appreciation and motivation.

5. Employee Well-being: We strongly emphasize employee well-being and offer a range of initiatives to promote work-life balance, mental health support, and overall wellness.

As we progress, we remain committed to achieving sustainable growth while upholding our core values, including our unwavering dedication to employee involvement.
 

SHEQ - Safety, Health, Environment & Quality

The Company holds safety, health, environment and quality as core values. There were no HSE or EA prosecutions or improvement Notices, and the Company continues to be licensed by the HSE ALU (Asbestos Licensing Unit) with a 3-year license, the longest awarded.

We launched our "7 Golden Rules" safety and well-being campaign in this period, which was communicated throughout the company (digital, print and face-to-face) and supports our long-standing core "Aim for Zero" safety initiative.

SOCOTEC accredits our management systems for ISO 9001, 18001 and 45001, with a 3-year recertification process supported by annual surveillance audits.

We increased our all-electric fleet by 15% during the period, adding two vehicles and now totalling 15. We continue our journey to net zero by 2030.

Mental health, mindfulness and health surveillance continue to be a priority, with all staff members receiving a dedicated email address to contact the directors throughout the period as part of the company support via our Just Talk mental health support initiative.

 

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Engagement with Suppliers, Customers, and Other Relationships

We recognise that meaningful and collaborative relationships are pivotal to our success. We are committed to nurturing strong engagement with our suppliers, customers, and other stakeholders based on the following principles:

1. Supplier Partnerships: We view our suppliers as essential partners in our value chain. We maintain open and transparent communication with them, fostering mutually beneficial relationships. Fairness and integrity govern our supplier selection process.

2. Customer-Centricity: Our customers are at the heart of everything we do. We actively seek feedback and respond to their needs, ensuring that our services consistently meet and exceed their expectations. We foster long-term, mutually beneficial, partnering-style relationships with our customers.

3. Community Engagement: We strive to be a responsible corporate citizen by actively engaging with the communities where we operate. We support local initiatives and collaborate with stakeholders to address social and environmental challenges.

4. Transparency and Accountability: We believe in operating with transparency and being accountable for our actions. Regular reporting and clear communication with all stakeholders are central to our business practices.

5. Continuous Improvement: We are unwavering in our commitment to continually improving our processes and services. Feedback from our stakeholders plays a crucial role in our pursuit of excellence, and we are confident that this commitment will lead to a better future for all.

As we look back on this financial period, we reaffirm our dedication to fostering strong engagement with our suppliers, customers, and other relationships. We firmly believe that these partnerships are the key to our sustained success and growth, and we are committed to nurturing them in the future.
 

 

Alltask Limited

Strategic Report for the Year Ended 31 March 2025

Research and Development Commitment

R&D is ingrained in our DNA. We firmly believe that innovation is the key to driving progress and maintaining a competitive edge in the construction and engineering industry. Our core values and commitment to R&D are as follows:

1. Investment in Technology: We actively invest in cutting-edge technologies and tools that enhance our capabilities and project efficiency. We continuously explore advanced construction methodologies to optimise project delivery.

2. Innovation Culture: We foster an innovation-driven culture within our organisation, encouraging our teams to think creatively and outside the box. New ideas and forward-thinking solutions are welcomed and nurtured.

3. Continuous Learning: We prioritise continuous learning and development for our employees. Training and upskilling programs are designed to keep our workforce at the forefront of industry advancements.

4. Collaboration with Partners: We collaborate with strategic partners, research institutions, and experts in the field to exchange knowledge and explore innovative solutions. These partnerships accelerate our R&D efforts.

5. Pioneering Solutions: Our R&D initiatives aim to pioneer sustainable and cost-effective solutions for our clients. We strive to offer novel approaches that optimise resources and minimise environmental impact.

We remain committed to investing in research and development to drive innovation and ensure sustainable growth. Our core values underpin our dedication to excellence, sustainability, and continuous improvement.
 

Conclusion

In conclusion, we thank our employees, clients, suppliers, and stakeholders for their support and trust in Alltask Ltd. Our financial performance during the past year reflects our collective efforts and ongoing commitment to excellence. As we embrace the future with optimism, we remain focused on creating value and achieving success in the years to come.

 

Alltask Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal activity

The principal activity of the company is that of scaffolding contractors.

Directors of the company

The directors who held office during the year were as follows:

D R Fincham

D Shearer - Company secretary and director

I M Howson (Resigned 16 December 2024)

S A West

L J Duffy

C Coffield

Alan Bartlett (appointed 16 December 2024)

Information included in the Strategic Report

The board voted a dividend of £2m in the period.

The company has chosen to set out in the strategic report the following information that is required to be stated.

In the directors’ report:

• An indication of the likely future developments of the business of the group.
• The principal risks and uncertainties faced by the group.
• Employment of disabled persons.
• Employee involvement.
• Engagement with employees.
• Engagement with suppliers, customers and other relationships.
• Research and development.
• Energy and carbon metrics and considerations over climate change.
 

Future developments

The directors confirmed that there is no future developments or subsequent events which would have an impact on the balance sheet.

 

Alltask Limited

Directors' Report for the Year Ended 31 March 2025

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate.

In preparing their assessment of going concern the directors have considered available cash resources, financial performance and forecast performance, along with the company's principal risks and uncertainties.

The assessment of going concern has considered principal risks including the war in Ukraine and the impact of the current economic climate. The impact of these are considered to have possible and plausible negative impacts on the profitability of the company, however the company has mitigated these as far as possible and is still expected to remain profitable and cash generative for at least the next 12 months.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

The independent auditors Manningtons are deemed to be reappointed under section 487(2) of the Companies Act 2006.

 

Alltask Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved and authorised by the Board on 1 July 2025 and signed on its behalf by:
 

.........................................
D R Fincham
Director

 

Alltask Limited

Independent Auditor's Report to the Members of Alltask Limited

Opinion

We have audited the financial statements of Alltask Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Alltask Limited

Independent Auditor's Report to the Members of Alltask Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 11], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

 

Alltask Limited

Independent Auditor's Report to the Members of Alltask Limited

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK), an auditor exercises professional judgement and maintains professional scepticism throughout the audit.

Detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the client and determined that the most significant are:

- the form and content of the financial statements, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006;
- UK Employment Law and data protection;
- UK Corporate tax laws, and
- Health & Safety at Work Act 1974.

We gathered an understanding of how the entity is complying with the above frameworks by enquiring and observing management and those charged with governance, ensuring there is a culture of honesty with an emphasis on fraud prevention which may reduce opportunities for fraud to occur as well as acting as a deterrent.

We assessed the susceptibility of the financial statements to material misstatement due to fraud, by making an assessment of the key fraud risks, the manner in which such risks may materialise, our knowledge of the client and as assessment of the current business environment.

We designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered higher, such as under ISA 240 (UK) where there is a presumed risk that revenue may be misstated due to the improper recognition of revenue, we performed additional audit procedures to address each identified fraud risk to attempt to obtain reasonable assurance that the financial statements were free of fraud or error. This included, but was not limited to:

- enquiry of management and those charged with governance around actual and potential litigation and claims as well as carrying out inspection of legal and insurance documents, including the claims log obtained directly from the insurance brokers of the company.

- enquiry of the entity's staff, management and those charged with governance to identify any instances of non-compliance with laws and regulations, inspection and review of compliance audit reports and results as well as the risk assessment register and "near miss" register.

- carrying out walk-through tests and verifications of controls in place to obtain an understanding of the company's policies and procedures on fraud risks, including knowledge or any actual, suspected or alleged fraud, of which there were none noted by management.

- reviewing financial statement disclosures and accounting policies and testing to supporting documentation to assess compliance with applicable laws and regulations.

 

Alltask Limited

Independent Auditor's Report to the Members of Alltask Limited

- auditing the risk of management override of controls, including testing of journal entries, management estimates and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

- carrying out an analytical review of the financial statements to highlight any potential misstatements to investigate whether the variance is expected or unexpected, based on the information obtained as part of the planning process and the current climate the company is operating under. Additional analytical procedures were carried out such as review of top 5 customers and suppliers and analysis between current and prior year of trade debtors.

- carrying out tests of detail on both a targeted and a sample basis of revenue transactions and agreeing to supporting evidence and testing revenue related balances in the balance sheet, also on a sample and targeted basis. We inspected signed dividend vouchers and reviewed related party transactions.

- physical inspection for existence of fixed assets and verification of employees to confirm existence.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
A E J Staples (Senior Statutory Auditor)
For and on behalf of Manningtons, Statutory Auditor

8 High Street
Heathfield
East Sussex
TN21 8LS

1 July 2025

 

Alltask Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

3

49,142,688

38,093,343

Cost of sales

 

(28,569,922)

(24,084,807)

Gross profit

 

20,572,766

14,008,536

Administrative expenses

 

(12,456,223)

(11,345,362)

Operating profit

4

8,116,543

2,663,174

Other interest receivable and similar income

5

305,093

198,540

Interest payable and similar charges

6

(65,796)

(173,801)

 

239,297

24,739

Profit before tax

 

8,355,840

2,687,913

Taxation

10

(1,998,892)

(653,592)

Profit for the financial year

 

6,356,948

2,034,321

Retained earnings brought forward

 

13,372,235

13,337,914

Dividends paid

 

(2,000,000)

(2,000,000)

Retained earnings carried forward

 

17,729,183

13,372,235

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Alltask Limited

(Registration number: 02689988)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

11

427,378

488,323

Tangible assets

12

9,856,494

9,175,337

Investments

13

-

109

 

10,283,872

9,663,769

Current assets

 

Debtors

14

11,296,062

8,384,861

Cash at bank and in hand

 

7,327,723

5,816,385

 

18,623,785

14,201,246

Creditors: Amounts falling due within one year

16

(9,372,364)

(8,926,919)

Net current assets

 

9,251,421

5,274,327

Total assets less current liabilities

 

19,535,293

14,938,096

Creditors: Amounts falling due after more than one year

16

(127,313)

(114,580)

Provisions for liabilities

17

(1,670,797)

(1,443,281)

Net assets

 

17,737,183

13,380,235

Capital and reserves

 

Called up share capital

8,000

8,000

Retained earnings

17,729,183

13,372,235

Shareholders' funds

 

17,737,183

13,380,235

Approved and authorised by the Board on 1 July 2025 and signed on its behalf by:
 

.........................................
D R Fincham
Director

 

Alltask Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Retained earnings
£

Total
£

At 1 April 2024

8,000

13,372,235

13,380,235

Profit for the year

-

6,356,948

6,356,948

Dividends

-

(2,000,000)

(2,000,000)

At 31 March 2025

8,000

17,729,183

17,737,183

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

8,000

13,337,914

13,345,914

Profit for the year

-

2,034,321

2,034,321

Dividends

-

(2,000,000)

(2,000,000)

At 31 March 2024

8,000

13,372,235

13,380,235

 

Alltask Limited

Statement of Cash Flows for the Year Ended 31 March 2025

Note

2025
£

2024
£

Cash flows from operating activities

Profit for the year

 

6,356,948

2,034,321

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

1,017,831

984,431

Profit on disposal of tangible assets

(24,486)

(24,010)

Finance income

5

(305,093)

(198,540)

Finance costs

6

65,796

173,801

Income tax expense

10

1,998,892

653,592

 

9,109,888

3,623,595

Working capital adjustments

 

(Increase)/decrease in trade debtors

14

(2,911,201)

1,676,955

Increase/(decrease) in trade creditors

16

182,075

(726,793)

Cash generated from operations

 

6,380,762

4,573,757

Income taxes paid

10

(945,102)

(850,239)

Net cash flow from operating activities

 

5,435,660

3,723,518

Cash flows from investing activities

 

Interest received

5

305,093

198,540

Acquisitions of tangible assets

(1,337,188)

(1,236,234)

Proceeds from sale of tangible assets

 

300,350

91,833

Net cash flows from investing activities

 

(731,745)

(945,861)

Cash flows from financing activities

 

Interest paid

6

(65,796)

(109,112)

Payments to finance lease creditors

 

(1,126,781)

-

Dividends paid

20

(2,000,000)

(2,000,000)

Net cash flows from financing activities

 

(3,192,577)

(2,109,112)

Net increase in cash and cash equivalents

 

1,511,338

668,545

Cash and cash equivalents at 1 April

 

5,816,385

5,147,840

Cash and cash equivalents at 31 March

 

7,327,723

5,816,385

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alltask House Commissioners Road
Medway City Estate Strood
Rochester Kent
Kent
ME2 4EJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest pound.

Group accounts not prepared

The company is exempt from the requirement to prepare group accounts under section 402 of the Companies Act on the basis its one and only subsidiary undertaking is excluded from consolidation under section 405 of the Companies Act.
The exclusion is deemed appropriate, given its inclusion not being material for the purpose of giving a true and fair view; the subsidiary is in process of liquidation and has not traded during the period.
.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis in preparing the financial statements.

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. The carrying amount is £9,856,494 (2024 -£9,175,340).

Deferred tax liabilities are generally provided for in full and deferred tax assets are recognised to the extent that it is judged probable that future taxable profit will rise against which the temporary differences will be utilised.

Revenue recognition

Turnover represents net sales of goods sold, construction contracts and services provided, excluding value added tax, returns, rebates and discounts.
Revenue from construction contracts is recognised when it is probable that future economic benefits will flow to the company from the provision of the construction contracts and is measured as the fair value of consideration which the company expects to receive from those transactions. Revenue is recognised as hire period dates are completed, as agreed in advance with the customer.
When the outcome of a construction contract can be estimated reliably, contract revenue and associated expenditure are recognised by reference of the stage of completion of the contract at the reporting date. The stage of completion is based on the length of the hire period. Provisions are made for associated costs with the dismantle of a job as well as over estimates of a contract.
When the outcome of a construction contract cannot be estimate reliably, contract revenue shall only be recognised to the extend of the amount of associated expenditure incurred and it is probable that the contract revenue will be recoverable.
Revenue from the provision of services is recognised when all of the following conditions are satisfied:
-The amount of revenue can be measured reliably;
-It is probably that the economic benefits associated with the transaction will flow to the entity;
-The stage of completion of the transactions at the end of the reporting period can be measured reliably; and
-The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Dividend income is recognised when the right to receive payment is established.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Research and development
Research and development expenditure is any expenditure which may enhance the efficiency of ways of working or increase longevity of fixed assets such that additional economic inflow to the entity will be achieved. Such expenditure is written off in the year in which it is incurred. During the year £288,880 (2024: £297,655) of research and development expenditure was recognised as an expense during the period.

Tangible assets

Tangible assets are initially measured at cost price, this can include transport, installation, legal and other such associated costs. After initial recognition the asset is subsequently measured under the cost model of cost, less depreciation, less any impairment losses.
Subsequent day-to-day servicing of the assets will be recognised in the profit or loss in the period they are incurred. Only subsequent expenditure that can provide an incremental benefit will be capitalised.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows.

Asset class

Depreciation method and rate

Scaffold equipment

2.5% reducing balance basis

Fixtures, fittings and equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Investments

Investments in subsidiary undertakings are recognised at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probably that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current marketing assessments of the time value of money and the risk specific to the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.




 

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2025
£

2024
£

Sale of goods

49,142,688

38,093,343


 

The total turnover for the year has been derived from its principal activity wholly undertaken in the UK in respect of the rendering of services.

4

Operating profit

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

956,778

923,268

Amortisation expense

61,053

61,163

Profit on disposal of property, plant and equipment

(24,486)

(24,010)

5

Other interest receivable and similar income

2025
£

2024
£

Interest income on bank deposits

305,093

182,786

Other finance income

-

15,754

305,093

198,540

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Interest payable and similar expenses

2025
£

2024
£

Interest on bank overdrafts and borrowings

13,904

-

Interest on obligations under finance leases and hire purchase contracts

51,892

109,112

Interest expense on other finance liabilities

-

64,689

65,796

173,801

7

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2025
£

2024
£

Wages and salaries

21,022,755

19,772,632

Social security costs

723,279

621,165

Pension costs, defined contribution scheme

623,579

602,039

Other employee expense

17,850

15,071

22,387,463

21,010,907

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2025
No.

2024
No.

Production

261

258

Administration and support

41

42

Directors

6

6

308

306

8

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

1,660,223

1,262,509

Contributions paid to money purchase schemes

112,611

129,191

1,772,834

1,391,700

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

During the year the number of directors who were receiving benefits and share incentives was as follows:

2025
No.

2024
No.

Accruing benefits under money purchase pension scheme

-

3

In respect of the highest paid director:

2025
£

2024
£

Remuneration

963,666

619,500

Company contributions to money purchase pension schemes

-

125,926





 

9

Auditors' remuneration

2025
£

2024
£

Audit of the financial statements

23,635

32,700

Other fees to auditors

All other assurance services

4,000

17,000


 

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

10

Taxation

Tax charged/(credited) in the profit and loss account

2025
£

2024
£

Current taxation

UK corporation tax

1,835,371

452,993

UK corporation tax adjustment to prior periods

(63,996)

(205,207)

1,771,375

247,786

Deferred taxation

Arising from origination and reversal of timing differences

227,517

405,806

Tax expense in the income statement

1,998,892

653,592

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

2025
£

2024
£

Profit before tax

8,355,840

2,687,913

Corporation tax at standard rate

2,088,960

671,978

Deferred tax (credit)/expense from unrecognised temporary difference from a prior period

(18,064)

405,806

Tax decrease from effect of adjustment in research and development tax credit

(57,776)

-

Increase (decrease) in UK and foreign current tax from adjustment for prior periods

(63,996)

(205,207)

Effect of expense not deductible in determining taxable profit (tax loss)

49,768

20,222

Tax increase (decrease) from effect of capital allowances and depreciation

-

(154,880)

Other tax effects for reconciliation between accounting profit and tax expense (income)

-

(84,327)

Total tax charge

1,998,892

653,592

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax

Deferred tax assets and liabilities

2025

Asset
£

Liability
£

Accelerated capital allowances

-

1,669,111

Other timing differences

-

1,686

-

1,670,797

2024

Asset
£

Liability
£

Accelerated capital allowances

-

1,443,281

-

1,443,281

The net reversal of deferred tax liabilities in the next 12 months is not expected to be material.

11

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Acquired through business combinations

549,595

549,595

At 31 March 2025

549,595

549,595

Amortisation

At 1 April 2024

61,163

61,163

Amortisation charge

61,054

61,054

At 31 March 2025

122,217

122,217

Carrying amount

At 31 March 2025

427,378

427,378

At 31 March 2024

488,323

488,323

Goodwill has an estimated remaining useful life of 8 years

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

12

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 April 2024

610,390

3,953,676

17,744,805

22,308,871

Additions

124,551

693,028

1,096,219

1,913,798

Disposals

-

(815,633)

(62,750)

(878,383)

At 31 March 2025

734,941

3,831,071

18,778,274

23,344,286

Depreciation

At 1 April 2024

517,863

2,780,000

9,835,671

13,133,534

Charge for the year

54,269

405,495

497,013

956,777

Eliminated on disposal

-

(568,426)

(34,093)

(602,519)

At 31 March 2025

572,132

2,617,069

10,298,591

13,487,792

Carrying amount

At 31 March 2025

162,809

1,214,002

8,479,683

9,856,494

At 31 March 2024

92,527

1,173,676

7,909,134

9,175,337

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

2025
£

2024
£

Motor vehicles

632,275

574,832

Plant and equipment

1,030,780

1,057,210

1,663,055

1,632,042

13

Investments

2025
£

2024
£

Investments in subsidiaries

-

109

Subsidiaries

£

Cost or valuation

At 1 April 2024

109

Transferred to Goodwill

(109)

At 31 March 2025

-

Provision

Carrying amount

At 31 March 2025

-

At 31 March 2024

109

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2024

Subsidiary undertakings

E A Scaffolding and Systems Limited 2855600

Alltask House
Commissioners Road
Medway City Estate
Strood
Kent
ME2 4EJ

United Kingdom

Ordinary

100%

100%

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Subsidiary undertakings

E A Scaffolding and Systems Limited 2855600

The principal activity of E A Scaffolding and Systems Limited 2855600 is scaffolding erection.

The trade and assets of E A Scaffolding and Systems Limited were hived up into Alltask Limited on 1 April 2022 using the fair value method. As a result of this, the carrying value of the investment in E A Scaffolding and Systems Limited had been impaired to the £109 which related to the remaining distributable reserves. The company was liquidated on 6 February 2025.

14

Debtors

Current

2025
£

2024
£

Trade debtors

3,815,446

2,911,555

Other debtors

919,181

456,751

Prepayments

232,443

234,013

Accrued income

6,328,992

4,782,542

 

11,296,062

8,384,861

15

Cash and cash equivalents

2025
£

2024
£

Cash on hand

1,512

1,014

Cash at bank

65,864

75,686

Short-term deposits

7,260,347

5,739,685

7,327,723

5,816,385






 

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

16

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

19

289,914

852,818

Trade creditors

 

2,218,840

2,259,215

Amounts due to related parties

22

44,280

-

Social security and other taxes

 

730,753

566,634

Outstanding defined contribution pension costs

 

-

149,768

Other payables

 

198,621

631,924

Accruals

 

4,881,572

4,284,450

Income tax liability

10

1,008,384

182,110

 

9,372,364

8,926,919

Due after one year

 

Loans and borrowings

19

127,313

114,580

17

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2024

1,443,281

1,443,281

Increase (decrease) in existing provisions

227,516

227,516

At 31 March 2025

1,670,797

1,670,797

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

18

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £0.01 each

800,000

8,000

800,000

8,000

       

The ordinary shares each carry one voting right.

19

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

289,914

852,818

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

127,313

114,580

Included in the loans and borrowings are the following amounts due after more than five years:

2025
£

2024
£

-

-

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

20

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £2.50 per each Ordinary

2,000,000

2,000,000

 

 

21

Analysis of changes in net debt

At 1 April 2024
£

Financing cash flows
£

New finance leases
£

At 31 March 2025
£

Borrowings

Lease liabilities

967,398

(1,126,781)

576,610

417,227

 

967,398

(1,126,781)

576,610

417,227

22

Related party transactions

Key management compensation

2025
£

2024
£

Salaries and other short term employee benefits

2,207,311

1,161,278

The company’s key management personnel are considered to be the directors and the commercial manager.

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

D R Fincham

Loan from company

217,904

-

(262,183)

(44,280)

D Shearer

Loan to company

-

683,500

-

683,500

 

Alltask Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

D R Fincham

Loan from company

(1,419,744)

217,904

1,419,744

217,904

D Shearer

Loan to company

352,000

(352,000)

-

-

Interest is charged on all overdrawn directors’ loan accounts at the rate equivalent to the bank deposit account. This is considered to be the statutory rate. All overdrawn directors loan accounts are repayable on demand within 9 months of the financial year end.
Credit director loans are unsecured, interest free and repayable on demand.
 

Summary of transactions with other related parties

Close family members (and associated companies) of directors and an entity under joint control:
 Provision of rent and other services.
 

Expenditure with and payables to related parties

2025

Other related parties
£

Rendering of services

1,470,489

2024

Other related parties
£

Rendering of services

1,155,278

23

Parent and ultimate parent undertaking

The ultimate controlling party is D R Fincham.

24

Off-balance sheet arrangements

Charges
A fixed charge and negative pledge over the amount held in deposit, entitled by Hsbc UK Bank PLC, was created on 5 February 2024 and remains outstanding.