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COMPANY REGISTRATION NUMBER: 05569675

AXELBOND LIMITED

Financial Statements

30 September 2024

AXELBOND LIMITED

Financial Statements

Year ended 30 September 2024

Contents | Page

Strategic report | 1

Directors' report | 3

Independent auditor's report to the members | 5

Statement of income and retained earnings | 9

Statement of financial position | 10

Statement of cash flows | 11

Notes to the financial statements | 12

AXELBOND LIMITED

Strategic Report

Year ended 30 September 2024
Principal Activities The principal activity of the company is the operation of nursing and residential homes. Business Review During the financial year, the company has continued to focus on maintaining occupancy levels and improving the standard of care offered to residents. The main key performance indicators which are used by management to monitor performance on a daily, weekly and monthly basis are occupancy levels and staff costs. The directors have assessed working capital requirements and capital expenditure over the next twelve months and are confident that the company has secured sufficient financial resources. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current economic climate. Future Developments The directors are continually looking for opportunities to expand either through organic growth or acquisitions. Financial risk management objectives and policies The Director believes we will continue to develop and grow the business in the face of industry-wide issues such as increased operating costs, regulatory requirements, mandated staff training, and an increasing discrepancy between local authority funding and the cost of care. The organisation is controlling these expenditures through rigorous planning and cost-cutting strategies, while remaining committed to providing excellent services. The directors consider the main risks arising from the company's financial instruments to be interest rate risk and liquidity risk and therefore set and review policies for managing these risks as below.These policies have remained unchanged from previous years. Interest Rate Risk The company finances its operations through a combination of retained earnings and bank loans. Liquidity Risk The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely. The directors continually seek means by which the operating costs of the company can be reduced and the profitability increased. Fixed Assets The movement in the company's fixed assets is set out in notes 13. Supplier Payment Policy The company's policy is to pay amounts as they fall due on confirmation of goods and services provided.
This report was approved by the board of directors on 28 August 2025 and signed on behalf of the board by:

Mr M Hommel
Director

Registered office:
9 Temple Furtune Mansions
Bridge Lane
London
NW11 0QR

AXELBOND LIMITED

Directors' Report

Year ended 30 September 2024
The directors present their report and the financial statements of the company for the year ended 30 September 2024 .
Directors
The directors who served the company during the year were as follows:

Mr M Hommel |
Mrs H R Iwanier |

Dividends
The directors do not recommend the payment of a dividend.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' 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 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 then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 28 August 2025 and signed on behalf of the board by:

Mr M Hommel
Director

Registered office:
9 Temple Furtune Mansions
Bridge Lane
London
NW11 0QR

AXELBOND LIMITED

Independent Auditor's Report to the Members of AXELBOND LIMITED

Year ended 30 September 2024
Opinion
We have audited the financial statements of AXELBOND LIMITED (the 'company') for the year ended 30 September 2024 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, 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 FRS 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 30 September 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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's 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 directors' 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 financial statements are 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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.
Opinions on other matters 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 the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the 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 the 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 or the directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement, 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.
Auditor's 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. 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 gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls by testing journal entries and evaluating whether there was evidence of management bias which represented a risk of material misstatement due to fraud. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Dr Phillip Smulovitch
(Senior Statutory Auditor)

For and on behalf of
GK & Co. LLP
Chartered accountants & statutory auditor
Hallswelle House
1 Hallswelle Road
London
England
NW11 0DH

28 August 2025

AXELBOND LIMITED

Statement of Income and Retained Earnings

Year ended 30 September 2024

| 2024 | 2023
Note | £ | £
Turnover | 4 | 3,431,567 | 3,235,895

Cost of sales | 2,249,790 | 2,004,549
| ------------ | ------------
Gross profit | 1,181,777 | 1,231,346

Administrative expenses | 659,934 | 585,684
|  | ------------ | ------------
Operating profit | 5 | 521,843 | 645,662

Other interest receivable and similar income | 9 | 360 | –
Interest payable and similar expenses | 10 | 51,911 | 58,205
| ------------ | ------------
Profit before taxation | 470,292 | 587,457

Tax on profit | 11 | 128,753 | 139,407
| --------- | ---------
Profit for the financial year and total comprehensive income | 341,539 | 448,050
| --------- | ---------

Retained earnings at the start of the year | 4,429,471 | 3,981,421
| ------------ | ------------
Retained earnings at the end of the year | 4,771,010 | 4,429,471
| ------------ | ------------

All the activities of the company are from continuing operations.

AXELBOND LIMITED

Statement of Financial Position

30 September 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 13 |  | 2,293,902 | 2,334,468

Current assets

Debtors | 14 | 3,296,635 |  | 3,415,045
Cash at bank and in hand | 1,003,916 |  | 550,970
| ------------ |  | ------------
| 4,300,551 |  | 3,966,015

Creditors: amounts falling due within one year | 15 | 399,936 |  | 339,023
| ------------ |  | ------------
Net current assets |  | 3,900,615 | 3,626,992
|  | ------------ | ------------
Total assets less current liabilities |  | 6,194,517 | 5,961,460

Creditors: amounts falling due after more than one year | 16 |  | 1,423,407 | 1,531,889
|  | ------------ | ------------
Net assets |  | 4,771,110 | 4,429,571
|  | ------------ | ------------

Capital and reserves

Called up share capital | 18 |  | 100 | 100
Profit and loss account | 19 |  | 4,771,010 | 4,429,471
|  | ------------ | ------------
Shareholders funds |  | 4,771,110 | 4,429,571
|  | ------------ | ------------

These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:

Mr M Hommel
Director

Company registration number: 05569675

AXELBOND LIMITED

Statement of Cash Flows

Year ended 30 September 2024

| 2024 | 2023
| £ | £

Cash flows from operating activities

Profit for the financial year | 341,539 | 448,050

Adjustments for: |  |
Depreciation of tangible assets | 72,632 | 70,811
Other interest receivable and similar income | ( 360) | –
Interest payable and similar expenses | 51,911 | 58,205
Tax on profit | 128,753 | 139,407
Accrued expenses | 2,090 | 221

Changes in: |  |
Trade and other debtors | 118,410 | ( 1,840,551)
Trade and other creditors | 74,391 | 6,024
| --------- | ------------
Cash generated from operations | 789,366 | ( 1,117,833)

Interest paid | ( 51,911) | ( 58,205)
Interest received | 360 | –
Tax paid | ( 156,418) | ( 165,001)
| --------- | ------------
Net cash from/(used in) operating activities | 581,397 | ( 1,341,039)
| --------- | ------------

Cash flows from investing activities

Purchase of tangible assets | ( 32,066) | ( 17,628)
| --------- | ------------
Net cash used in investing activities | ( 32,066) | ( 17,628)
| --------- | ------------

Cash flows from financing activities

Proceeds from borrowings | ( 96,385) | ( 123,681)
| --------- | ------------
Net cash used in financing activities | ( 96,385) | ( 123,681)
| --------- | ------------

Net increase/(decrease) in cash and cash equivalents | 452,946 | ( 1,482,348)
Cash and cash equivalents at beginning of year | 550,970 | 2,033,318
| ------------ | ------------
Cash and cash equivalents at end of year | 1,003,916 | 550,970
| ------------ | ------------

AXELBOND LIMITED

Notes to the Financial Statements

Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Temple Furtune Mansions, Bridge Lane, London, NW11 0QR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill | - | 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Freehold property | - | 2% straight line
| Plant and machinery | - | 20% straight line
| Fixtures and fittings | - | 25% straight line
| Equipment | - | 25% straight line

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:

| 2024 | 2023
| £ | £
Rendering of services | 3,431,567 | 3,235,895
| ------------ | ------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit
Operating profit or loss is stated after charging:

| 2024 | 2023
| £ | £
Depreciation of tangible assets | 72,632 | 70,811
Impairment of trade debtors | 91,408 | 1,642
| -------- | --------

6. Auditor's remuneration

| 2024 | 2023
| £ | £
Fees payable for the audit of the financial statements | 13,500 | 13,500
| -------- | --------

7. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

| 2024 | 2023
| No. | No.
Administrative staff | 83 | 86
Management staff | 2 | 2
| ---- | ----
| 85 | 88
| ---- | ----

The aggregate payroll costs incurred during the year, relating to the above, were:

| 2024 | 2023
| £ | £
Wages and salaries | 10,200 | 10,020
Other pension costs | 22,068 | 9,799
| -------- | --------
| 32,268 | 19,819
| -------- | --------

8. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:

| 2024 | 2023
| £ | £
Remuneration | 10,200 | 10,020
| -------- | --------

9. Other interest receivable and similar income

| 2024 | 2023
| £ | £
Interest on loans and receivables | 360 | –
| ---- | ----

10. Interest payable and similar expenses

| 2024 | 2023
| £ | £
Interest on banks loans and overdrafts | 51,911 | 58,205
| -------- | --------

11. Tax on profit
Major components of tax expense

| 2024 | 2023
| £ | £

Current tax:

UK current tax expense | 128,753 | 140,031
Adjustments in respect of prior periods | – | ( 624)
| --------- | ---------
Total current tax | 128,753 | 139,407
| --------- | ---------
| --------- | ---------
Tax on profit | 128,753 | 139,407
| --------- | ---------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 23.84 %).

| 2024 | 2023
| £ | £
Profit on ordinary activities before taxation | 470,292 | 587,457
| --------- | ---------
Profit on ordinary activities by rate of tax | 117,573 | 140,050
Adjustment to tax charge in respect of prior periods | – | ( 624)
Effect of capital allowances and depreciation | 11,180 | ( 19)
| --------- | ---------
Tax on profit | 128,753 | 139,407
| --------- | ---------

12. Intangible assets

| Goodwill
| £
Cost |
At 1 October 2023 and 30 September 2024 | 1,230,000
| ------------
Amortisation |
At 1 October 2023 and 30 September 2024 | 1,230,000
| ------------
Carrying amount |
At 30 September 2024 | –
| ------------
At 30 September 2023 | –
| ------------

13. Tangible assets

| Land and buildings | Plant and machinery | Fixtures and fittings | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 October 2023 | 3,070,169 | 144,535 | 166,988 | 16,250 | 3,397,942
Additions | 17,925 | 6,978 | 6,320 | 843 | 32,066
| ------------ | --------- | --------- | -------- | ------------
At 30 September 2024 | 3,088,094 | 151,513 | 173,308 | 17,093 | 3,430,008
| ------------ | --------- | --------- | -------- | ------------
Depreciation |  |  |  |  |
At 1 October 2023 | 764,045 | 129,846 | 156,069 | 13,514 | 1,063,474
Charge for the year | 61,762 | 5,116 | 4,910 | 844 | 72,632
| ------------ | --------- | --------- | -------- | ------------
At 30 September 2024 | 825,807 | 134,962 | 160,979 | 14,358 | 1,136,106
| ------------ | --------- | --------- | -------- | ------------
Carrying amount |  |  |  |  |
At 30 September 2024 | 2,262,287 | 16,551 | 12,329 | 2,735 | 2,293,902
| ------------ | --------- | --------- | -------- | ------------
At 30 September 2023 | 2,306,124 | 14,689 | 10,919 | 2,736 | 2,334,468
| ------------ | --------- | --------- | -------- | ------------

14. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 364,519 | 452,723
Prepayments and accrued income | 9,522 | 61,437
Directors loan account | – | 1,404
Other debtors | 2,922,594 | 2,899,481
| ------------ | ------------
| 3,296,635 | 3,415,045
| ------------ | ------------

15. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 103,440 | 96,840
Trade creditors | 86,114 | 49,765
Accruals and deferred income | 32,493 | 30,403
Corporation tax | 105,423 | 133,088
Social security and other taxes | 28,956 | 23,162
Director loan accounts | 5,497 | –
Other creditors | 38,013 | 5,765
| --------- | ---------
| 399,936 | 339,023
| --------- | ---------

16. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 1,423,407 | 1,531,889
| ------------ | ------------

17. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 22,068 (2023: £ 9,799 ).
18. Called up share capital
Issued, called up and fully paid

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

19. Reserves
Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.
20. Analysis of changes in net debt

| At 1 Oct 2023 | Cash flows | At 30 Sep 2024
| £ | £ | £
Cash at bank and in hand | 550,970 | 452,946 | 1,003,916
Debt due within one year | (96,840) | (12,097) | (108,937)
Debt due after one year | (1,531,889) | 108,482 | (1,423,407)
| ------------ | --------- | ------------
| ( 1,077,759) | 549,331 | ( 528,428)
| ------------ | --------- | ------------

21. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| Mr M Hommel | 1,404 | ( 6,901) | ( 5,497)
|  | ------- | ------- | -------

| 2023
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| Mr M Hommel | ( 28,089) | 29,493 | 1,404
|  | -------- | -------- | -------