REGISTERED NUMBER: 03335942 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Flokk Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Independent Auditors' Report

5

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Mr H Karlsrud

Mr R L R Sitter

Mrs G E Bailey

Mr R Lindbäck

REGISTERED OFFICE:

Unit 4 AAA Park

Leeds Road

Mirfield

West Yorkshire

WF14 0DE

REGISTERED NUMBER:

03335942 (England and Wales)

AUDITORS:

Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

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

REVIEW OF BUSINESS

The directors aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year-end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

Turnover has increased by £1.85m (9.1%) whilst gross profit percentage decreased by 0.1% to 31.7%, which has resulted in a total gross profit increase of £577k to £7.01m (2023: £6.44m). The company made a loss for the year after tax of £215k (2023: Loss of £279k).

The company is financially strong, with a balance sheet showing net assets of £3.16m and cash at bank of

£9.0m. The company's financial projections indicate that it has sufficient facilities and funds to operate for at least the next 12 months and it's bankers and ultimate parent company continue to be supportive. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and so the financial statements are prepared on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial and other risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The company does not use derivative financial instruments to manage interest rate costs and as such, no hedge accounting is applied.

The board of directors is responsible for monitoring financial risks and for deciding where it would be appropriate to use financial instruments to manage this risk.

Exchange rate risk

As the company transacts in foreign currency, it is exposed to exchange rate risk, which it manages by keeping under review the need for forward contracts to purchase currency.

Liquidity risk

The company actively maintains cash and bank balances to ensure the company has sufficient funds for operations and any planned expansion.

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers before sales are made.

KEY PERFORMANCE INDICATORS

We consider that our key financial performance indicators are those that communicate the financial performance of the company, these being turnover, operating profit, profits before tax and after tax retained profit.

ON BEHALF OF THE BOARD:

Mr R L R Sitter - Director

12 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of manufacture of office furniture and seating.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

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

Mr H Karlsrud

Mr R L R Sitter

Other changes in directors holding office are as follows:

Mrs G E Bailey and Mr R Lindbäck were appointed as directors after 31 December 2024 but prior to the date of this report.

Mr L I Roiri ceased to be a director after 31 December 2024 but prior to the date of this 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr R L R Sitter - Director

12 September 2025

Opinion

We have audited the financial statements of Flokk Limited (the 'Company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss 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 Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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 an Auditors' 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:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

-

Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

The internal controls established to mitigate risk related to fraud or non-compliance with laws & regulations;

-

Obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included the Companies Act 2006, tax legislation, data protection, anti-bribery, employment and health & safety regulations

.

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 Auditors' Report.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

-

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

-

Enquiring of management concerning actual and potential litigation and claims;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; and

-

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing the judgements used in accounting estimates to assess whether these may be indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

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 Auditors' 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.

Tom Garner CA CTA (Senior Statutory Auditor)

for and on behalf of Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

12 September 2025

TURNOVER

4

22,112,037

20,259,984

Cost of sales

15,098,011

13,822,491

GROSS PROFIT

7,014,026

6,437,493

Distribution costs

980,913

1,386,657

Administrative expenses

6,009,128

5,033,695

6,990,041

6,420,352

23,985

17,141

Other operating income

-

20,879

OPERATING PROFIT

7

23,985

38,020

Interest receivable and similar income

315,364

86,191

339,349

124,211

Interest payable and similar expenses

8

571,636

389,201

LOSS BEFORE TAXATION

(232,287

)

(264,990

)

Tax on loss

9

(16,918

)

13,749

LOSS FOR THE FINANCIAL YEAR

(215,369

)

(278,739

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(215,369

)

(278,739

)

FIXED ASSETS

Intangible assets

10

604,591

569,175

Tangible assets

11

1,788,300

2,064,036

2,392,891

2,633,211

CURRENT ASSETS

Stocks

12

1,913,502

1,600,903

Debtors

13

3,885,075

5,094,473

Cash at bank and in hand

9,006,083

2,989,835

14,804,660

9,685,211

CREDITORS

Amounts falling due within one year

14

9,532,071

4,025,453

NET CURRENT ASSETS

5,272,589

5,659,758

TOTAL ASSETS LESS CURRENT LIABILITIES

7,665,480

8,292,969

CREDITORS

Amounts falling due after more than one year

15

(4,309,113

)

(4,704,315

)

PROVISIONS FOR LIABILITIES

18

(196,287

)

(213,205

)

NET ASSETS

3,160,080

3,375,449

CAPITAL AND RESERVES

Called up share capital

19

1,112

1,112

Share premium

20

533,500

533,500

Retained earnings

20

2,625,468

2,840,837

SHAREHOLDERS' FUNDS

3,160,080

3,375,449

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

Mr R L R Sitter - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

1,111

3,119,576

22,239

3,142,926

Changes in equity

Issue of share capital

1

-

511,261

511,262

Total comprehensive income

-

(278,739

)

-

(278,739

)

Balance at 31 December 2023

1,112

2,840,837

533,500

3,375,449

Changes in equity

Total comprehensive income

-

(215,369

)

-

(215,369

)

Balance at 31 December 2024

1,112

2,625,468

533,500

3,160,080

1.	STATUTORY INFORMATION

Flokk 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company is financially strong, with a balance sheet showing net assets of £3.16m and cash at bank of £9.0m.The company's financial projections indicate that it has sufficient facilities and funds to operate for at least the next 12 months and it's bankers and ultimate parent company continue to be supportive. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and so the financial statements are prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

Related party exemption

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

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

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

Stock provisions

The directors assess the age of certain stock lines and form a judgement on the value of slow moving and obsolete stock in order to include an appropriate provision against the stock value in the accounts.

Development costs

The directors consider each new product under development and whether or not it is appropriate to capitalise the costs. If capitalised, the directors then consider the period over which the company is expected to benefit and amortise over that period.

Turnover

Turnover represents amounts earned on goods supplied during the year, derives from the provision of goods falling within the company's ordinary activities and is recognised at the point of despatch.

Goodwill

Goodwill, represents the amount hived down into the business following the group simplification exercise performed in the prior year. Goodwill is fully amortised.

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.

Amortisation is charged at the point that the product is available to market.

Amortisation is calculated so as to write off an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Development costs are being amortised over 5 years as this is the period over which the company is expected to benefit from this expenditure.

Tangible fixed assets

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

Short leasehold

- Straight line over the life of the lease

Plant and machinery

- 20% on cost straight line

Fixtures and fittings

- At varying rates on cost

Motor vehicles

- 20% on cost straight line

All fixed assets are initially recorded at cost with the exception of freehold property which is recorded on a revaluation basis.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

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

Stock is measured using the first in, first out basis.

Financial instruments

The company has adopted the provisions set out in sections 11 and 12 of FRS 102 in the recognition and measurement of financial instruments. All financial instruments are initially measured at the original transaction price, less associated costs. For subsequent measurement, basic financial instruments are measured at amortised cost in accordance with section 11 of FRS 102. Other financial instruments that are not considered basic and that are material to the financial statements are measured at fair value through profit or loss in accordance with section 12 of FRS 102.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Development expenditure is capitalised and amortised over the period in which it is expected to benefit, so long as the directors are satisfied as to the technical, commercial and financial viability of individual projects. If this criteria is not met, expenditure is written off in the year it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments are treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

4.

TURNOVER

Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods falling within the company's ordinary activities.

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

3,477,794

3,246,128

Social security costs

261,480

270,389

Other pension costs

177,618

193,921

3,916,892

3,710,438

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

2024

2023

Production

30

28

Distribution

6

7

Management and administration

42

42

78

77

6.	DIRECTORS' EMOLUMENTS

2024

2023

£

£

Directors' remuneration

-

-

7.	OPERATING PROFIT

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

2024

2023

£

£

Hire of plant and machinery

26,118

32,657

Other operating leases

795,182

666,808

Depreciation - owned assets

190,229

193,002

Depreciation - assets on hire purchase contracts

108,763

116,943

Profit on disposal of fixed assets

-

(3,420

)

Goodwill amortisation

-

74,000

Development costs amortisation

99,570

133,458

Computer software amortisation

2,682

-

Auditors' remuneration

41,200

24,500

Auditors' remuneration for non audit work

5,000

8,750

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Other interest

559,970

369,713

Hire purchase

11,666

19,488

571,636

389,201

9.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

-

(37,425

)

Deferred tax

(16,918

)

51,174

Tax on loss

(16,918

)

13,749

Reconciliation of total tax (credit)/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

£

£

Loss before tax

(232,287

)

(264,990

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

(58,072

)

(66,248

)

Effects of:

Expenses not deductible for tax purposes

13,815

75,158

Income not taxable for tax purposes

(25,153

)

(29,062

)

Depreciation in excess of capital allowances

65,493

38,835

Utilisation of tax losses

(13,001

)

-

Adjustments to tax charge in respect of previous periods

-

(37,425

)

Tax losses carried forward

-

32,491

Total tax (credit)/charge

(16,918

)

13,749

10.	INTANGIBLE FIXED ASSETS

Development

Computer

Goodwill

costs

software

Totals

£

£

£

£

COST

At 1 January 2024

74,000

3,175,340

-

3,249,340

Additions

-

300,993

60,696

361,689

Disposals

-

(224,021

)

-

(224,021

)

At 31 December 2024

74,000

3,252,312

60,696

3,387,008

AMORTISATION

At 1 January 2024

74,000

2,606,165

-

2,680,165

Amortisation for year

-

99,570

2,682

102,252

At 31 December 2024

74,000

2,705,735

2,682

2,782,417

NET BOOK VALUE

At 31 December 2024

-

546,577

58,014

604,591

At 31 December 2023

-

569,175

-

569,175

11.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

1,730,671

372,820

408,122

488,938

3,000,551

Additions

18,769

4,487

-

-

23,256

At 31 December 2024

1,749,440

377,307

408,122

488,938

3,023,807

DEPRECIATION

At 1 January 2024

151,033

242,227

356,868

186,387

936,515

Charge for year

125,844

40,788

34,248

98,112

298,992

At 31 December 2024

276,877

283,015

391,116

284,499

1,235,507

NET BOOK VALUE

At 31 December 2024

1,472,563

94,292

17,006

204,439

1,788,300

At 31 December 2023

1,579,638

130,593

51,254

302,551

2,064,036

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

53,255

469,329

522,584

Transfer to ownership

-

(248,521

)

(248,521

)

At 31 December 2024

53,255

220,808

274,063

DEPRECIATION

At 1 January 2024

23,077

176,614

199,691

Charge for year

10,651

98,112

108,763

Transfer to ownership

-

(186,403

)

(186,403

)

At 31 December 2024

33,728

88,323

122,051

NET BOOK VALUE

At 31 December 2024

19,527

132,485

152,012

At 31 December 2023

30,178

292,715

322,893

12.

STOCKS

2024

2023

£

£

Raw materials

1,230,337

1,034,094

Finished goods

683,165

566,809

1,913,502

1,600,903