REGISTERED NUMBER: 00545140 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

JAMES STOCKDALE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

15

DIRECTORS:

J F Stockdale

J Cockerill

SECRETARY:

J Cockerill

REGISTERED OFFICE:

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

REGISTERED NUMBER:

00545140 (England and Wales)

AUDITORS:

Lloyd Dowson Audit Limited

Chartered Accountants

& Statutory Auditors

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The directors believe the following KPI's (excluding revaluations) indicate the ongoing success of the business.

31.12.24

31.12.23

31.12.22

Turnover (£)

13,417,746

11,480,673

9,585,332

Gross Profit after Dist. Costs (%)

18.01

14.02

18.37

Profit before Tax (£)

1,117,974

772,511

893,732

The directors are pleased to report growth across all sectors of the company's activities.

PRINCIPAL RISKS AND UNCERTAINTIES

Due to the nature of the company's trade, potato prices and associated growing costs, are volatile and are affected by the yearly available supply and customer demand.

The company mitigates these fluctuations where possible, by use of forward contracting with long standing customers both with the supply of ware and seed potatoes.

The company has a stable financial base, with the ability to raise additional finance, should the need arise.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, hire purchase, trade creditors and trade debtors. The main purpose of these instruments is to raise funds to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price or currency risk. The company's approach to managing other risks applicable to the financial instruments is detailed below.

Trade debtors are managed through credit and cash flow risk by assessing the credit offered to customers and the regular monitoring of amounts outstanding at a given time.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet liabilities as they fall due.

The company's bank accounts are monitored to ensure the company has sufficient funds to meet their current commitments, making use of overdraft and loan facilities, where appropriate.

Hire purchase is used to fund the acquisition of fixed assets.

FUTURE DEVELOPMENTS

The company continues to innovate, where appropriate along with exploring cost saving measures and improved efficiencies to maintain both a strong financial position and enhance the services provided to its' customers.

ON BEHALF OF THE BOARD:

J Cockerill - Secretary

27 May 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of supply of potatoes to the chipping and crisping market, along with the supply of seed potatoes.

Additional services offered to other potato producers and processors including storage, washing, grading, cutting and chiting as well as the transportation of bulk loads of potatoes.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 is £500 (2023 - £1,000).

DIRECTORS

The directors during the year under review were:

J F Stockdale

J Cockerill

The beneficial interests of the directors holding office on 31 December 2024 in the issued share capital of the company were as follows:

31.12.24

1.1.24

Ordinary £1 shares

J F Stockdale

15,030

15,030

J Cockerill

-

-

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with Section 414C (11) of the Companies Act 2006, the company has chosen to report details concerning financial instruments and future developments within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 then apply them consistently;

-	make judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

J Cockerill - Secretary

27 May 2025

Opinion

We have audited the financial statements of James Stockdale Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 December 2024 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

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 three, 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 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.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

-

obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the company operates in, including whether the company is complying with those legal and regulatory frameworks;

-

inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

-

discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with relevant tax authorities and evaluating advice received from third party advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety, data protection, road haulage and employment laws. The company also has industry specific regulations relating to becoming an ATF testing centre during the year. We performed audit procedures to inquire of management whether the company is in compliance with these laws. This work included evaluating correspondence with third party consultants.

The audit engagement team identified the risk of management override of controls and the risk of fraud in revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to;

-

testing material journal entries throughout the year and evaluating their business rationale;

-

reviewing key controls and account reconciliations;

-

testing material bank transactions for business rationale;

-

on a sample basis, reviewing authorisation procedures of business expenditure, including review of supporting documentation.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Tracy Meredith-Baker, FCA, FCCA (Senior Statutory Auditor)

for and on behalf of Lloyd Dowson Audit Limited

Chartered Accountants

& Statutory Auditors

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

27 May 2025

TURNOVER

13,417,746

11,480,673

Cost of sales

5,473,772

4,952,798

GROSS PROFIT

7,943,974

6,527,875

Distribution costs

5,526,813

4,917,767

Administrative expenses

1,147,106

663,958

6,673,919

5,581,725

1,270,055

946,150

Other operating income

(64,740

)

127,261

OPERATING PROFIT

4

1,205,315

1,073,411

Interest receivable and similar income

21,821

147

1,227,136

1,073,558

Interest payable and similar expenses

5

214,662

216,047

PROFIT BEFORE TAXATION

1,012,474

857,511

Tax on profit

6

237,721

214,848

PROFIT FOR THE FINANCIAL YEAR

774,753

642,663

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

774,753

642,663

FIXED ASSETS

Tangible assets

8

9,979,797

8,563,932

Investments

9

5,000

5,000

Investment property

10

1,814,500

2,565,000

11,799,297

11,133,932

CURRENT ASSETS

Stocks

11

3,169,185

3,136,539

Debtors

12

2,192,544

2,195,471

Cash at bank and in hand

296,566

1,525

5,658,295

5,333,535

CREDITORS

Amounts falling due within one year

13

2,247,332

2,476,089

NET CURRENT ASSETS

3,410,963

2,857,446

TOTAL ASSETS LESS CURRENT LIABILITIES

15,210,260

13,991,378

CREDITORS

Amounts falling due after more than one year

14

(3,162,296

)

(2,914,862

)

PROVISIONS FOR LIABILITIES

18

(1,395,274

)

(1,198,079

)

NET ASSETS

10,652,690

9,878,437

CAPITAL AND RESERVES

Called up share capital

19

15,030

15,030

Capital redemption reserve

20

14,970

14,970

Investment property revaluation reserve

20

921,584

1,382,697

Retained earnings

20

9,701,106

8,465,740

SHAREHOLDERS' FUNDS

10,652,690

9,878,437

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:

J F Stockdale - Director

Investment

Called up

Capital

property

share

Retained

redemption

revaluation

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

15,030

7,887,827

14,970

1,318,947

9,236,774

Changes in equity

Dividends

-

(1,000

)

-

-

(1,000

)

Total comprehensive income

-

578,913

-

63,750

642,663

Balance at 31 December 2023

15,030

8,465,740

14,970

1,382,697

9,878,437

Changes in equity

Dividends

-

(500

)

-

-

(500

)

Total comprehensive income

-

1,235,866

-

(461,113

)

774,753

Balance at 31 December 2024

15,030

9,701,106

14,970

921,584

10,652,690

Cash flows from operating activities

Cash generated from operations

1

2,023,546

952,176

Interest paid

(178,395

)

(197,268

)

Interest element of hire purchase payments paid

(31,945

)

(14,215

)

Tax paid

(22,356

)

(29

)

Net cash from operating activities

1,790,850

740,664

Cash flows from investing activities

Purchase of tangible fixed assets

(563,033

)

(679,320

)

Sale of tangible fixed assets

268,766

629,891

Sale of fixed asset investments

-

10,269

Sale of investment property

631,269

-

Interest received

21,821

147

Net cash from investing activities

358,823

(39,013

)

Cash flows from financing activities

Loan repayments in year

(383,669

)

(393,680

)

Hire purchase repayments in year

(1,098,358

)

(267,096

)

Introduced / (withdrawn) by directors

-

(7,540

)

Equity dividends paid

-

(1,000

)

Net cash from financing activities

(1,482,027

)

(669,316

)

Increase in cash and cash equivalents

667,646

32,335

Cash and cash equivalents at beginning of year

2

(371,080

)

(403,415

)

Cash and cash equivalents at end of year

2

296,566

(371,080

)

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Profit before taxation

1,012,474

857,511

Depreciation charges

956,207

855,688

Profit on disposal of fixed assets

(9,526

)

(376,489

)

Loss/(gain) on revaluation of fixed assets

105,500

(85,000

)

Finance costs

214,662

216,047

Finance income

(21,821

)

(147

)

2,257,496

1,467,610

Increase in stocks

(32,646

)

(369,056

)

Increase in trade and other debtors

(74,715

)

(378,093

)

(Decrease)/increase in trade and other creditors

(126,589

)

231,715

Cash generated from operations

2,023,546

952,176

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

296,566

1,525

Bank overdrafts

-

(372,605

)

296,566

(371,080

)

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,525

224

Bank overdrafts

(372,605

)

(403,639

)

(371,080

)

(403,415

)

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.1.24

Cash flow

changes

At 31.12.24

£

£

£

£

Net cash

Cash at bank

and in hand

1,525

295,041

296,566

Bank overdrafts

(372,605

)

372,605

-

(371,080

)

667,646

296,566

Debt

Finance leases

(521,423

)

1,098,358

(1,974,686

)

(1,397,751

)

Debts falling due

within 1 year

(394,419

)

(38,742

)

-

(433,161

)

Debts falling due

after 1 year

(2,678,034

)

422,411

-

(2,255,623

)

(3,593,876

)

1,482,027

(1,974,686

)

(4,086,535

)

Total

(3,964,956

)

2,149,673

(1,974,686

)

(3,789,969

)

1.	STATUTORY INFORMATION

James Stockdale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, which are described further in this note, management are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation and uncertainty

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Useful economic lives of intangible and tangible assets

The annual amortisation and depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See the notes to the financial statements for the carrying amount of the property, plant and equipment and the useful economic lives of each class of assets.

Stock provisioning

The quality and length of storage of finished product is considered at the year end date in establishing a provision for stock wastage. This is based on periodic inspection, the variety of crop and contracted supply date.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods in the ordinary nature of the business. Turnover is shown net of Value Added Tax. The company has a variety of sources of turnover as described below:

- Turnover from selling crops and product, based on date supplied;

- Turnover from haulage, based on date supplied;

- Turnover from associated service activities, on a date supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost, excluding land element

Plant and machinery

-

25% on reducing balance

Fixtures, fittings and equipment

-

25% on reducing balance

Tractors and motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Comprehensive Income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of Statement of Comprehensive Income over the period to which they relate.

Pension costs and other post-retirement benefits

The company has implemented automatic enrolment into a workplace pension scheme in relation to all employees.

All contributions payable for the year are charged to the Statement of Comprehensive Income in the period to which they relate.

Investments

Unlisted investments are stated at cost less provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

2,661,124

2,409,042

Social security costs

286,291

261,324

Other pension costs

214,287

171,116

3,161,702

2,841,482

The average number of employees during the year was as follows:

31.12.24

31.12.23

Office & management

11

11

Haulage & maintenance

55

51

66

62

31.12.24

31.12.23

£

£

Directors' remuneration

171,909

180,341

Directors' pension contributions to money purchase schemes

80,430

2,327

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Depreciation - owned assets

547,882

576,990

Depreciation - assets on hire purchase contracts

408,325

278,698

Profit on disposal of fixed assets

(9,526

)

(376,489

)

Auditors' remuneration

15,143

17,500

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank interest

1,021

11,181

Bank loan interest

181,696

190,651

Hire purchase

31,945

14,215

214,662

216,047