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REGISTERED NUMBER: 05807564 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EMC GROUP HOLDINGS LIMITED

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Consolidated Income Statement | 10 |

Consolidated Other Comprehensive Income | 11 |

Consolidated Balance Sheet | 12 |

Company Balance Sheet | 14 |

Consolidated Statement of Changes in Equity | 16 |

Company Statement of Changes in Equity | 17 |

Consolidated Cash Flow Statement | 18 |

Notes to the Consolidated Cash Flow Statement | 19 |

Notes to the Consolidated Financial Statements | 21 |

EMC GROUP HOLDINGS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | D C Lambird

| M D J Lambird

| REGISTERED OFFICE: | 103 Bourne Street

| Eastbourne

| East Sussex

| BN21 3SE

| REGISTERED NUMBER: | 05807564 (England and Wales)

| AUDITORS: | LMDB Limited

| t/a LMDB Accountants

| Statutory Auditors

| Railview Lofts

| 19c Commercial Road

| Eastbourne

| East Sussex

| BN21 3XE

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activity of the group continued to be that of sales and servicing of new and used cars and commercial vehicles.

The continued pressure on gross margins remained an industry wide problem. The directors and managers of the company remain positive, our strategy is to continue to focus on retaining customers, customer satisfaction, staff training, stock and cash management and strong balance sheet, we are confident of our future success and profitability.

The availability of new and used cars continues to be a challenge; we added the Fiat franchise in July 2023, and this has continued to grow both in our Sales and Aftersales Departments, we also will be adding the Leap Motors Franchise to our Business in 2025, again this will give us another route to market.

PRINCIPAL RISKS AND UNCERTAINTIES

We are subject to a number of risks, mostly from external threats that we are constantly monitoring. There was additional risk with the sudden rise of interest rates over the period of 2023/2024, however although the rates have not dropped as quickly as we would have hoped, it has stabilised, and we are positive that our opportunity for an increase in sales will improve.

Manufacturer supply of new and improved products

The company is reliant on new vehicle products from Vauxhall, Fiat and Suzuki. This exposes the company to risks in a number of areas as the company is dependent on its manufacturer/supplier in respect of:

- Availability of new vehicle product and BEV mix.

- Quality of new vehicle product

- Pricing and competitiveness of new vehicle product

- Effects and management of the BEV mandate that came into effect in January 2024

The directors are confident that future new products from Vauxhall Fiat and the addition of Leap Motors from its manufacturers and suppliers will continue to be competitively priced and high quality and therefore consider that this "manufacturer risk" is minimal. It is, in any case, mitigated by other core business areas of the company, including used vehicle sales, parts sales and service work.

The Directors believe that Suzuki will still be a challenge in 2025 due to the change from ICE engines to Electric which means supply will be limited.

Used vehicle price variation

Used vehicle prices can increase and decline significantly. As a significant proportion of our business comprises used vehicle sales, these declines can have a material impact on our business. The impact of declines in used vehicle prices can result in reduced profits on sales and write-downs in the value of used vehicle inventory. During 2024 it has been challenging to purchase used vehicles as the supply is less than the demand meaning prices to purchase them remain high.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Development and performance

The directors plan to grow the business, by our commitment to our strategy and by adding to our franchise partners to form part of our future.

Company, people and reputation

The company has invested heavily in its people and its reputation over a number of years. It is therefore reliant on these individuals to a degree in delivering the company result and reinforcing the underlying company brand. The company undertakes a regular review of remuneration and packages to ensure that it attracts and retains the best people.

We have completed our Annual Consumer Duty Board report, for period ending 31 July 2024, which outlines the steps we have taken to improve the effective use of management information, enabling us to put customer satisfaction at the heart of our business and adhering to the 3 main principles. This also outlines areas where improvements can be made to ensure we continue to reach both our own and manufacturers expectations.

Competition

Competition from new innovative products particularly from China is something that we are very aware of. Also, competition with other franchised vehicle dealerships, independent used vehicle sellers, private buyers and sellers, internet-based buyers and sellers, independent service and repair shops and vehicle manufacturers who have entered the retail market. We compete for the sale of new and used vehicles, the performance of warranty repairs, non-warranty repairs, routine maintenance business and for the provision of spare parts. The principal competitive factors in service and parts sales are price, familiarity with a manufacturer's brands and models and the quality of customer service.

KPI MONITORING AND MEASUREMENT

The subsidiary company uses the following ratios to monitor the business:

| 2024 |  | 2023 |  |

Turnover |  | £34,679,958 |  | £35,407,100 |  |

Gross profit |  | £4,431,932 |  | £4,174,707 |  |

Gross profit margin |  | 12.78% |  | 11.79% |  |

Operating profit |  | £571,340 |  | £480,369 |  |

Operating profit margin |  | 1.65% |  | 1.36% |  |

ON BEHALF OF THE BOARD:

M D J Lambird - Director

4 August 2025

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of sales and servicing of new and used cars and commercial vehicles.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 400,019 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

D C Lambird

M D J Lambird

FINANCIAL INSTRUMENTS

The company's operations expose it to a variety of financial risks which include credit risk, liquidity risk and interest rate risk. The company has in place risk management policies, which are implemented by the company's finance department. These policies, which are consistent with those from the previous year, seek to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and related finance costs.

Liquidity risk:

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future

developments, the company uses a mixture of long-term and short-term debt finance.

The company makes efforts to manage the financial risk by the monitoring of cashflow to ensure that the company is able to meet its foreseeable debts as they fall due and to invest any cash assets profitably.

Credit risk:

The company's principal financial assets are stock and trade debtors. The credit risk associated with stock is limited and therefore the principal credit risk arises from its trade debtors.

In order to manage credit risk the directors set limits for customers based on a combination of payment history and third party credit references. These credit limits are reviewed regularly by the directors together with the aged debtors and collection history.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, LMDB Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M D J Lambird - Director

4 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMC GROUP HOLDINGS LIMITED

Opinion

We have audited the financial statements of EMC Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMC GROUP HOLDINGS LIMITED

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company 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, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMC GROUP HOLDINGS LIMITED

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:

- Enquiry of management and those charged with governance on the actual and potential litigation and claims, and also any instances of non-compliance with laws and regulations.

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

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

- Professional scepticism in course of the audit and with audit sampling in material audit areas.

Because of 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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMC GROUP HOLDINGS LIMITED

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.

Samuel David Jaquet FCCA (Senior Statutory Auditor)

for and on behalf of LMDB Limited

t/a LMDB Accountants

Statutory Auditors

Railview Lofts

19c Commercial Road

Eastbourne

East Sussex

BN21 3XE

27 August 2025

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 3 | 34,679,958 |  | 35,407,100 |  |

Cost of sales | 30,248,026 |  | 31,232,393 |  |

GROSS PROFIT | 4,431,932 |  | 4,174,707 |  |

Administrative expenses | 3,766,260 |  | 3,552,515 |  |

665,672 |  | 622,192 |  |

Other operating income | 4 | 30,142 |  | 19,922 |  |

OPERATING PROFIT | 6 | 695,814 |  | 642,114 |  |

Interest receivable and similar income | 8 | 81,303 |  | 52,774 |  |

777,117 |  | 694,888 |  |

Interest payable and similar expenses | 9 | 12,116 |  | 28,317 |  |

PROFIT BEFORE TAXATION | 765,001 |  | 666,571 |  |

Tax on profit | 10 | 223,483 |  | 187,138 |  |

PROFIT FOR THE FINANCIAL YEAR | 541,518 |  | 479,433 |  |

Profit attributable to:

Owners of the parent | 483,777 |  | 433,213 |  |

Non-controlling interests | 57,741 |  | 46,220 |  |

541,518 |  | 479,433 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

PROFIT FOR THE YEAR | 541,518 |  | 479,433 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 541,518 |  | 479,433 |  |

Total comprehensive income attributable to:

Owners of the parent | 483,777 |  | 433,213 |  |

Non-controlling interests | 57,741 |  | 46,220 |  |

541,518 |  | 479,433 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 13 | 32,294 |  | 44,794 |  |

Tangible assets | 14 | 5,789,945 |  | 5,771,336 |  |

Investments | 15 | - |  | - |  |

Investment property | 16 | 473,000 |  | 473,000 |  |

6,295,239 |  | 6,289,130 |  |

CURRENT ASSETS

Stocks | 17 | 4,300,901 |  | 4,722,020 |  |

Debtors | 18 | 1,322,406 |  | 1,727,580 |  |

Prepayments and accrued income | 119,549 |  | 156,710 |  |

Cash at bank and in hand | 2,047,928 |  | 797,944 |  |

7,790,784 |  | 7,404,254 |  |

CREDITORS

Amounts falling due within one year | 19 | 3,240,648 |  | 2,951,412 |  |

NET CURRENT ASSETS | 4,550,136 |  | 4,452,842 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 10,845,375 |  | 10,741,972 |  |

PROVISIONS FOR LIABILITIES | 22 | 490,395 |  | 475,208 |  |

NET ASSETS | 10,354,980 |  | 10,266,764 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 23 | 3,646 |  | 3,646 |  |

Revaluation reserve | 24 | 1,377,847 |  | 1,402,813 |  |

Capital redemption reserve | 24 | 50 |  | 50 |  |

Retained earnings | 24 | 8,238,310 |  | 8,129,586 |  |

SHAREHOLDERS' FUNDS | 9,619,853 |  | 9,536,095 |  |

NON-CONTROLLING INTERESTS | 25 | 735,127 |  | 730,669 |  |

TOTAL EQUITY | 10,354,980 |  | 10,266,764 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:

M D J Lambird - Director

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

COMPANY BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 13 | - |  | - |  |

Tangible assets | 14 | 2,218,674 |  | 2,253,340 |  |

Investments | 15 | 37,170 |  | 37,170 |  |

Investment property | 16 | - |  | - |  |

2,255,844 |  | 2,290,510 |  |

CURRENT ASSETS

Debtors | 18 | 1,070,778 |  | 953,204 |  |

Cash at bank | 38 |  | 12,390 |  |

1,070,816 |  | 965,594 |  |

CREDITORS

Amounts falling due within one year | 19 | 45,605 |  | 62,039 |  |

NET CURRENT ASSETS | 1,025,211 |  | 903,555 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,281,055 |  | 3,194,065 |  |

PROVISIONS FOR LIABILITIES | 22 | 395,189 |  | 395,189 |  |

NET ASSETS | 2,885,866 |  | 2,798,876 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

COMPANY BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 23 | 3,646 |  | 3,646 |  |

Revaluation reserve | 1,202,674 |  | 1,227,640 |  |

Capital redemption reserve | 50 |  | 50 |  |

Retained earnings | 1,679,496 |  | 1,567,540 |  |

SHAREHOLDERS' FUNDS | 2,885,866 |  | 2,798,876 |  |

Company's profit for the financial year | 487,009 |  | 515,650 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:

M D J Lambird - Director

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |

| share |  | Retained |  | Revaluation

| capital |  | earnings |  | reserve

£ | £ | £ |

Balance at 1 January 2023 | 3,646 |  | 8,071,426 |  | 1,427,779 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | - |  |

Total comprehensive income | - |  | 433,213 |  | - |  |

Transfer | - |  | 24,966 |  | (24,966 | ) |

Balance at 31 December 2023 | 3,646 |  | 8,129,586 |  | 1,402,813 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | - |  |

Total comprehensive income | - |  | 483,777 |  | - |  |

Transfer | - |  | 24,966 |  | (24,966 | ) |

Balance at 31 December 2024 | 3,646 |  | 8,238,310 |  | 1,377,847 |  |

| Capital |

| redemption |  | Non-controlling |  | Total

| reserve |  | Total |  | interests |  | equity

£ | £ | £ | £ |

Balance at 1 January 2023 | 50 |  | 9,502,901 |  | 737,038 |  | 10,239,939 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | (52,589 | ) | (452,608 | ) |

Total comprehensive income | - |  | 433,213 |  | 46,220 |  | 479,433 |  |

Balance at 31 December 2023 | 50 |  | 9,536,095 |  | 730,669 |  | 10,266,764 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | (53,283 | ) | (453,302 | ) |

Total comprehensive income | - |  | 483,777 |  | 57,741 |  | 541,518 |  |

Balance at 31 December 2024 | 50 |  | 9,619,853 |  | 735,127 |  | 10,354,980 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2023 | 3,646 |  | 1,426,943 |  | 1,252,606 |  | 50 |  | 2,683,245 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | - |  | - |  | (400,019 | ) |

Total comprehensive income | - |  | 515,650 |  | - |  | - |  | 515,650 |  |

Transfer | - |  | 24,966 |  | (24,966 | ) | - |  | - |  |

Balance at 31 December 2023 | 3,646 |  | 1,567,540 |  | 1,227,640 |  | 50 |  | 2,798,876 |  |

Changes in equity

Dividends | - |  | (400,019 | ) | - |  | - |  | (400,019 | ) |

Total comprehensive income | - |  | 487,009 |  | - |  | - |  | 487,009 |  |

Transfer | - |  | 24,966 |  | (24,966 | ) | - |  | - |  |

Balance at 31 December 2024 | 3,646 |  | 1,679,496 |  | 1,202,674 |  | 50 |  | 2,885,866 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,892,414 |  | 182,253 |  |

Interest paid | (12,116 | ) | (28,317 | ) |

Tax paid | (179,226 | ) | (125,031 | ) |

Net cash from operating activities | 1,701,072 |  | 28,905 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (193,576 | ) | (239,020 | ) |

Sale of tangible fixed assets | 360 |  | - |  |

Interest received | 81,303 |  | 52,774 |  |

Net cash from investing activities | (111,913 | ) | (186,246 | ) |

Cash flows from financing activities

Amount introduced by directors | 108,000 |  | 82,438 |  |

Amount withdrawn by directors | (28,873 | ) | (14,999 | ) |

Loan repayments received | 35,000 |  | 35,000 |  |

Equity dividends paid | (400,019 | ) | (400,019 | ) |

Dividends paid to minority interests | (53,283 | ) | (52,589 | ) |

Net cash from financing activities | (339,175 | ) | (350,169 | ) |

Increase/(decrease) in cash and cash equivalents | 1,249,984 |  | (507,510 | ) |

Cash and cash equivalents at beginning of year | 2 | 797,944 |  | 1,305,454 |  |

Cash and cash equivalents at end of year | 2 | 2,047,928 |  | 797,944 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

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

| 2024 |  | 2023

£ | £ |

| Profit before taxation | 765,001 |  | 666,571 |  |

| Depreciation charges | 184,310 |  | 184,697 |  |

| Loss on disposal of fixed assets | 2,797 |  | 1,821 |  |

| Finance costs | 12,116 |  | 28,317 |  |

| Finance income | (81,303 | ) | (52,774 | ) |

882,921 |  | 828,632 |  |

| Decrease/(increase) in stocks | 421,119 |  | (662,480 | ) |

| Decrease/(increase) in trade and other debtors | 407,335 |  | (575,002 | ) |

| Increase in trade and other creditors | 181,039 |  | 591,103 |  |

| Cash generated from operations | 1,892,414 |  | 182,253 |  |

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 | 2,047,928 |  | 797,944 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 797,944 |  | 1,305,454 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 797,944 |  | 1,249,984 |  | 2,047,928 |  |

797,944 |  | 1,249,984 |  | 2,047,928 |  |

| Total | 797,944 |  | 1,249,984 |  | 2,047,928 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| EMC Group Holdings 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 General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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

| The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

| The following judgments (apart from those involving estimates) have had the most significant affect on amounts recognised in the financial statements:

| Consignment stock - Vehicles held on consignment have been included in 'vehicle stock' within 'stocks' on the basis that the company has determined that it holds the significant risks and rewards attached to these vehicles.

| Vehicle stock valuation - Stock valuation is regularly monitored against age profile and market demand. Management use a market tool during the appraisal process, being CAP valuation guides. The directors maintain oversight of ageing stock profiles and a monthly review of any provision required is performed.

| Property, plant and equipment assets - Property, plant and equipment are reviewed for impairment if events or circumstances indicate that the carrying value may not be recoverable. When an impairment review is carried out the recoverable value is determined based on value in use calculations which require estimates to be made of future cash flows.

| Investment property - Investment property is carried at fair value determined annually by either external valuers or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Incentives and other rebates from brand partners - The company receives income in the form of various incentives which are determined by the brand partners. The amount received is generally based on achieving specific objectives such as a specified sales volume, as well as other objectives including maintaining brand partner standards which may include, but are not limited to, retail centre image and design requirements, customer satisfaction survey results and training standards. Objectives are generally set and measured on either a quarterly or annual basis.

| Where incentives are based on a specific sales volume or number of registrations, the related income is recognised as a reduction in cost of sales when it is reasonably certain that the income has been earned. This is generally the later of the date the related vehicles are sold or registered or when it is reasonably certain that the related target will be met. Where incentives are linked to retail centre image and design requirements, customer satisfaction survey results or training standards, they are recognised as a reduction in cost of sales when it is reasonably certain that the incentive will be received for the relevant period.

| The company may also receive contributions towards advertising and promotional expenditure. Where such contributions are received they are recognised as a reduction in the related expenditure in the period to which they relate.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the sale of goods and services is recognised at fair value in the Statement of Comprehensive Income, net of discounts and value added tax, when the significant risks and rewards of ownership have been transferred to the buyer. In general this occurs when vehicles or parts have been supplied or when a service has been completed.

| Commission income is recognised on a receivable basis.

| Rental income

| Rental income is recognised on an accruals basis.

| Interest income

| Interest income is recognised in the Statement of Comprehensive Income on a receivable basis.

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life of 10 years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

| Depreciation is provided on the following basis:

| Freehold property |  | - 2% on cost of building |  |

| Long - term leasehold property |  | - 5% on reducing balance |  |

| Plant and machinery |  | - 25% or 15% on reducing balance |  |

| Motor vehicles |  | - 20% on reducing balance |  |

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Investment properties are valued annually using a yield of methodology using market rental values capitalised at a market capitalisation rate, but there is an inevitable degree of judgment involved in that each property is unique and value can only ultimately be reliably tested in the market itself.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Stocks

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

| Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.

| At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

| Consignment stocks

| Consignment vehicles which bear considerably more of the risks and rewards of ownership are regarded as being under the control of the company and, in accordance with FRS 102, are included within stocks on the Statement of Financial Position, although legal title has not passed to the company. The corresponding liability is included in trade creditors and is secured directly on these vehicles.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

| The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

| Debtors

| Short term debtors are measured at transaction price less any impairment.

| Creditors

| Short term creditors are measured at the transaction price.

| Finance costs

| Finance costs are charged to the Statement of Comprehensive Income on an accruals basis.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by class of business is given below:

| 2024 |  | 2023

£ | £ |

| Sale of goods | 30,998,233 |  | 32,087,593 |  |

| Rendering of services | 3,488,115 |  | 3,120,898 |  |

| Commissions receivable | 193,610 |  | 198,609 |  |

34,679,958 |  | 35,407,100 |  |

4. | OTHER OPERATING INCOME

| 2024 |  | 2023

£ | £ |

| Rents received | 30,142 |  | 19,922 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

5. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 2,965,074 |  | 2,775,893 |  |

| Social security costs | 302,402 |  | 278,195 |  |

| Other pension costs | 75,751 |  | 71,617 |  |

3,343,227 |  | 3,125,705 |  |

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

| 2024 |  | 2023

| Sales and service | 80 |  | 79 |  |

| Administration | 16 |  | 15 |  |

96 |  | 94 |  |

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | 243,829 |  | 241,975 |  |

| Directors' pension contributions to money purchase schemes | 5,966 |  | 5,888 |  |

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

| Money purchase schemes | 4 |  | 4 |  |

| Information regarding the highest paid director is as follows:

| 2024 |  | 2023

£ | £ |

| Emoluments etc | 94,680 |  | 94,796 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2024 |  | 2023

£ | £ |

| Other operating leases | 19,855 |  | 19,855 |  |

| Depreciation - owned assets | 171,810 |  | 172,197 |  |

| Loss on disposal of fixed assets | 2,797 |  | 1,821 |  |

| Goodwill amortisation | 12,500 |  | 12,500 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | AUDITORS' REMUNERATION

| 2024 |  | 2023

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 24,617 |  | 17,464 |  |

| Auditors' remuneration for non audit work | - |  | 2,310 |  |

8. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2024 |  | 2023

£ | £ |

| Deposit account interest | 71,285 |  | 49,796 |  |

| HMRC interest | 6,937 |  | 2,978 |  |

| Directors loan interest | 3,081 |  | - |  |

81,303 |  | 52,774 |  |

9. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Stocking loan interest | 12,116 |  | 22,499 |  |

| HMRC interest | - |  | 5,818 |  |

12,116 |  | 28,317 |  |

10. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | 208,296 |  | 182,690 |  |

| Deferred tax | 15,187 |  | 4,448 |  |

| Tax on profit | 223,483 |  | 187,138 |  |

| UK corporation tax has been charged at 25 % (2023 - 23.52 %).

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

10. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2024 |  | 2023

£ | £ |

| Profit before tax | 765,001 |  | 666,571 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 23.520 %) | 191,250 |  | 156,777 |  |

| Effects of:

| Expenses not deductible for tax purposes | 32,233 |  | 30,644 |  |

| Movement in tax rate | - |  | (283 | ) |

| Total tax charge | 223,483 |  | 187,138 |  |

11. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

12. | DIVIDENDS

| 2024 |  | 2023

£ | £ |

| Ordinary C shares of £1 each |

| Interim | 400,019 |  | 400,019 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

13. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 125,000 |  |

| AMORTISATION

| At 1 January 2024 | 80,206 |  |

| Amortisation for year | 12,500 |  |

| At 31 December 2024 | 92,706 |  |

| NET BOOK VALUE

| At 31 December 2024 | 32,294 |  |

| At 31 December 2023 | 44,794 |  |

14. | TANGIBLE FIXED ASSETS

| Group

| Freehold |  | Long |  | Plant and |

| property |  | leasehold |  | machinery |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 5,636,167 |  | 615,653 |  | 841,164 |  | 7,092,984 |  |

| Additions | 87,286 |  | 45,356 |  | 60,934 |  | 193,576 |  |

| Disposals | - |  | (610 | ) | (9,290 | ) | (9,900 | ) |

| At 31 December 2024 | 5,723,453 |  | 660,399 |  | 892,808 |  | 7,276,660 |  |

| DEPRECIATION

| At 1 January 2024 | 577,762 |  | 200,488 |  | 543,398 |  | 1,321,648 |  |

| Charge for year | 96,757 |  | 20,871 |  | 54,182 |  | 171,810 |  |

| Eliminated on disposal | - |  | (33 | ) | (6,710 | ) | (6,743 | ) |

| At 31 December 2024 | 674,519 |  | 221,326 |  | 590,870 |  | 1,486,715 |  |

| NET BOOK VALUE

| At 31 December 2024 | 5,048,934 |  | 439,073 |  | 301,938 |  | 5,789,945 |  |

| At 31 December 2023 | 5,058,405 |  | 415,165 |  | 297,766 |  | 5,771,336 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

14. | TANGIBLE FIXED ASSETS - continued

| Company

| Freehold

| property

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 2,600,000 |  |

| DEPRECIATION

| At 1 January 2024 | 346,660 |  |

| Charge for year | 34,666 |  |

| At 31 December 2024 | 381,326 |  |

| NET BOOK VALUE

| At 31 December 2024 | 2,218,674 |  |

| At 31 December 2023 | 2,253,340 |  |

15. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 37,170 |  |

| NET BOOK VALUE

| At 31 December 2024 | 37,170 |  |

| At 31 December 2023 | 37,170 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

15. | FIXED ASSET INVESTMENTS - continued

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiary

| Eastbourne Motoring Centre Limited

| Registered office: 103 Bourne Street, Eastbourne, East Sussex BN21 3SE

| Nature of business: Motor dealership

| %

| Class of shares: | holding |

| Ordinary | 91.29 |

| 31.12.24 |  | 31.12.23

£ | £ |

| Aggregate capital and reserves | 7,506,284 |  | 7,505,058 |  |

| Profit for the year | 454,517 |  | 363,791 |  |

16. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1 January 2024

| and 31 December 2024 | 473,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | 473,000 |  |

| At 31 December 2023 | 473,000 |  |

| Fair value at 31 December 2024 is represented by:

£ |

| Valuation in 2021 | 473,000 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

16. | INVESTMENT PROPERTY - continued

| Group

| If investment property had not been revalued it would have been included at the following historical cost:

2024 | 2023 |

£ | £ |

| Cost | 349,000 |  | 349,000 |  |

| Investment property was valued on an open market basis on 31 December 2021 by Hunt Commercial Property Ltd .

17. | STOCKS

| Group |

2024 | 2023 |

£ | £ |

| Vehicle stock | 3,966,049 |  | 4,335,013 |  |

| Parts and accessories | 334,852 |  | 387,007 |  |

4,300,901 |  | 4,722,020 |  |

18. | DEBTORS

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Amounts falling due within one year: |

| Trade debtors | 626,481 |  | 833,713 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 1,070,778 |  | 953,204 |  |

| Other debtors | 233,039 |  | 395,981 |  | - |  | - |  |

859,520 |  | 1,229,694 |  | 1,070,778 |  | 953,204 |  |

| Amounts falling due after more than one | year: |

| Other debtors | 462,886 |  | 497,886 |  | - |  | - |  |

| Aggregate amounts | 1,322,406 |  | 1,727,580 |  | 1,070,778 |  | 953,204 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

19. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Trade creditors | 2,711,594 |  | 2,484,269 |  | - |  | - |  |

| Tax | 129,108 |  | 100,038 |  | 40,555 |  | 46,225 |  |

| Social security and other taxes | 75,048 |  | 69,565 |  | 1,575 |  | - |  |

| VAT | 36,831 |  | 78,726 |  | - |  | - |  |

| Other creditors | 17,848 |  | 28,945 |  | 3,475 |  | 15,814 |  |

| Directors' current accounts | 218,160 |  | 139,033 |  | - |  | - |  |

| Accrued expenses | 52,059 |  | 50,836 |  | - |  | - |  |

3,240,648 |  | 2,951,412 |  | 45,605 |  | 62,039 |  |

20. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 7,814 |  | 7,814 |  |

| Between one and five years | 9,834 |  | 16,661 |  |

| In more than five years | - |  | 988 |  |

17,648 |  | 25,463 |  |

21. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2024 | 2023 |

£ | £ |

| Vehicle funding | 1,027,590 |  | 886,855 |  |

| The vehicle funding (included within trade creditors) is secured directly over the vehicles to which it relates.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

22. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Deferred tax | 490,395 |  | 475,208 |  | 395,189 |  | 395,189 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 475,208 |  |

| Accelerated capital allowances | 18,314 |  |

| Short term timing differences | (3,127 | ) |

| Balance at 31 December 2024 | 490,395 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 395,189 |  |

| Balance at 31 December 2024 | 395,189 |  |

23. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 50 | Ordinary B | £1 | 50 |  | 50 |  |

| 3,596 | Ordinary C | £1 | 3,596 |  | 3,596 |  |

3,646 |  | 3,646 |  |

| The shares all rank equally for voting purposes, distributions made on a winding up and dividend rights.

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

24. | RESERVES

| Group

| Capital |

| Retained |  | Revaluation |  | redemption |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2024 | 8,129,586 |  | 1,402,813 |  | 50 |  | 9,532,449 |  |

| Profit for the year | 483,777 |  | 483,777 |  |

| Dividends | (400,019 | ) | (400,019 | ) |

| Transfer | 24,966 |  | (24,966 | ) | - |  | - |  |

| At 31 December 2024 | 8,238,310 |  | 1,377,847 |  | 50 |  | 9,616,207 |  |

| Company

| Capital |

| Retained |  | Revaluation |  | redemption |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 January 2024 | 1,567,540 |  | 1,227,640 |  | 50 |  | 2,795,230 |  |

| Profit for the year | 487,009 |  | 487,009 |  |

| Dividends | (400,019 | ) | (400,019 | ) |

| Transfer | 24,966 |  | (24,966 | ) | - |  | - |  |

| At 31 December 2024 | 1,679,496 |  | 1,202,674 |  | 50 |  | 2,882,220 |  |

25. | NON-CONTROLLING INTERESTS

| Non-controlling |  |

| Interests |  |

| £ |  |

| At 1 January 2024 |  | 730,669 |

| Profit for the year |  | 57,741 |

| Dividends |  | (53,283 | )

| At 31 December 2024 |  | 735,127 |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

26. | PENSION COMMITMENTS

| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £75,751 (2023: £71,617). Contributions totalling £14,373 (2023: £13,131) were payable to the fund at the reporting date.

27. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 | 2023 |

£ | £ |

| M D J Lambird

| Balance outstanding at start of year | - |  | - |  |

| Amounts advanced | 622,910 |  | - |  |

| Amounts repaid | (622,910 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| Interest was charged on the amounts advanced at 2.25%.

28. | RELATED PARTY DISCLOSURES

| Entities with control, joint control or significant influence over the entity

2024 | 2023 |

£ | £ |

| Rents received | 180,000 |  | 200,000 |  |

| Amount due from related party | 1,070,778 |  | 953,204 |  |

| Other related parties

2024 | 2023 |

£ | £ |

| Sales | 40,213 |  | 371,356 |  |

| Purchases | 40,093 |  | 369,796 |  |

| Management charges | 120 |  | 1,560 |  |

| Amount due from related parties | 467,014 |  | 501,439 |  |

| Amount due to related parties | 3,475 |  | 15,814 |  |

EMC GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 05807564)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

29. | ULTIMATE CONTROLLING PARTY

| The directors, D C Lambird and M D J Lambird have joint controlling interest in the share capital of the company. There is no single controlling party.