REGISTERED NUMBER: 12093542 (England and Wales)

PWS HOLDINGS LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

N J Burtenshaw

S M Burtenshaw

REGISTERED OFFICE:

10 Darklake View

Estover

Plymouth

Devon

PL6 7TL

REGISTERED NUMBER:

12093542 (England and Wales)

AUDITORS:

WP Audit Services LLP

Chartered Accountant & Statutory Auditor

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

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

STRATEGY AND BUSINESS MODEL

PWS Holdings Limited operates as the immediate parent entity of its trading subsidiary, Protective Wear Supplies Limited. PWS Holdings Limited is the 100% subsidiary of Squire Holdings 617 Limited.

The group's focus is to provide our customers with innovative quality products and services to our key sectors.

Our dedication to service creates satisfied customers whose costs of procurement are reduced through time saved.

Our product portfolio includes branded workwear, specialised safety workwear, Personal Protective Equipment and janitorial supplies.

We partner with a broad range of customers, from major multinational companies to smaller independent businesses, across our key sectors housing associations, not-for-profit organisations, and utilities companies and contractors.

REVIEW OF BUSINESS

During 2024 the company's trading subsidiary has showed steady growth from 2023, as the business progress realigns with the Board's long-term projections.

Turnover has increased by £0.93m (5.79%) and gross profit increased by £0.39m (6.39%) to £6.48m.

The KPIs outlined below show clear improvements in the business over the course of 2024.

The group continues to be debt-free and places itself in a position to remain competitive within a saturated market.

Relationships with key stakeholders have been maintained and there are significant projects in the pipeline for 2025 and beyond.

The year 2024 marked a period of strategic investment and consolidation for the group. The directors believe that the reported figures reflect a robust financial performance and a solid foundation for sustained future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The group, like all businesses, faces a number of operating risks and uncertainties. The most fundamental issues faced by the group are:

- increased risk of recession;

- supply chain challenges;

- credit risk of customers;

- inflationary pressures;

- foreign exchange currency risk; and

- achieving quality standards.

The directors and their team use strategies learned over their many years of experience in order to meet and deal with these potential risks.

There is no external bank debt, which assists the group with being flexible, and avoids any further risks arising in relation to interest rates.

KEY PERFORMANCE INDICATORS

The development, performance and position of the group is monitored using the following measures:

MEASURE

2024

2023

Gross profit margin

38.4%

38.1%

Net profit margin

13.0%

14.8%

The directors consider these KPIs demonstrate the strong financial performance and position of the group.

ENVIRONMENT AND SUSTAINABILITY

Sustainability remains a central pillar of the group's strategic direction. Guided by our newly formed Net Zero Committee, recent initiatives include the launch of the Ecowear clothing line and a sustainable footwear range, both certified under the Global Recycled Standard (GRS).

The trading company has also achieved a significant milestone by eliminating single-use plastics in over 80% of stock lines.

Efforts continue to expand the range of environmentally responsible products and services in response to evolving regulatory and consumer expectations.

ON BEHALF OF THE BOARD:

N J Burtenshaw - Director

19 August 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 a holding company.

DIVIDENDS

Interim dividends have been voted in the year as follows:

05/04/24 £1,333.44 per share

30/09/24 £116.67 per share

27/10/24 £4,583.33 per share

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 was £3,620,064.

DIRECTORS

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

N J Burtenshaw

S M Burtenshaw

DISCLOSURE IN THE STRATEGIC REPORT

Information regarding business performance, risk and KPIs is reported in 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.

AUDITORS

The auditors, WP Audit Services LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

N J Burtenshaw - Director

19 August 2025

Opinion

We have audited the financial statements of Pws Holdings Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, 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 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 four, 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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Objectives

The objectives of our audit in respect of fraud, are:

- To identify and assess the risks 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 to those assessed risks; and

- To respond appropriately to instances of fraud or suspected fraud identified during the audit.

However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Audit approach

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the Company and considered that the most significant are the Consumer Rights Act, the Consumer Protection (Distance Selling) Regulations, the Companies Act 2006, FRS 102, and UK taxation legislation.

- We obtained an understanding of how the Company complies with these requirements by discussions with management and those charged with governance, as well a review of relevant correspondence and certifications.

- We assessed the risk of material misstatement of the financial statements and how it might occur (including the risk of material misstatement due to fraud), by holding discussions with management and those charged with governance.

- We used our knowledge of the Company and the industry in which it operates to determine if management's explanations were consistent with our own conclusions.

- Based on our understanding developed from the above, we designed specific appropriate audit procedures to identify instances of non-compliance with the key laws and regulations which may result in potential fraud. This included making enquiries of management and those charged with governance, investigating unusual or unexpected relationships or movements in figures disclosed in the accounts and remaining alert for any transactions that appeared to be outside the normal course of business.

- Furthermore, as required by auditing standards, and taking into account our overall knowledge of the control environment, we have performed procedures to address the risks of management override of controls and the risk of fraudulent revenue recognition. Procedures such as a review of journal entries and assessing estimates for management bias have enabled us to conclude in this area.

No instances of fraud were identified from the above procedures.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control environment relevant to the audit, in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the Company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and 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 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.

Stephanie Williams (Senior Statutory Auditor)

for and on behalf of WP Audit Services LLP

Chartered Accountant & Statutory Auditor

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

9 September 2025

TURNOVER

-

-

Administrative expenses

(21,334

)

(17,303

)

(21,334

)

(17,303

)

Other operating income

24,000

24,000

OPERATING PROFIT

6

2,666

6,697

Income from shares in group undertakings

3,550,064

916,272

PROFIT BEFORE TAXATION

3,552,730

922,969

Tax on profit

7

475

(761

)

PROFIT FOR THE FINANCIAL YEAR

3,553,205

922,208

PROFIT FOR THE YEAR

3,553,205

922,208

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,553,205

922,208

FIXED ASSETS

Tangible assets

9

582,778

597,163

Investments

10

612

612

583,390

597,775

CURRENT ASSETS

Debtors

11

2,544,484

172,471

Cash at bank

19,354

25,648

2,563,838

198,119

CREDITORS

Amounts falling due within one year

12

2,521,483

102,790

NET CURRENT ASSETS

42,355

95,329

TOTAL ASSETS LESS CURRENT LIABILITIES

625,745

693,104

PROVISIONS FOR LIABILITIES

13

3,000

3,500

NET ASSETS

622,745

689,604

CAPITAL AND RESERVES

Called up share capital

14

612

612

Retained earnings

15

622,133

688,992

SHAREHOLDERS' FUNDS

622,745

689,604

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2025 and were signed on its behalf by:

N J Burtenshaw - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

612

683,056

683,668

Changes in equity

Dividends

-

(916,272

)

(916,272

)

Total comprehensive income

-

922,208

922,208

Balance at 31 December 2023

612

688,992

689,604

Changes in equity

Dividends

-

(3,620,064

)

(3,620,064

)

Total comprehensive income

-

3,553,205

3,553,205

Balance at 31 December 2024

612

622,133

622,745

1.	STATUTORY INFORMATION

Pws 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 Company Information page.

The presentation 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 financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption 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.

Related party exemption

The company has taken advantage of 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 companies within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Tangible fixed assets are stated at costs less accumulated depreciation and accumulated impairment losses.

Land - not depreciated

Freehold property - 2% on cost (excluding amounts relating to land)

Plant and machinery - 10% on cost

Impairment of Assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

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

Creditors

Short term creditors are measured at the transaction price.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any impairment. Investments are reviewed annually by the directors for any indicators of impairment.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities

Provisions are recognised when the company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

Rental income

Rental income is recognised in the month that the property is occupied. For rental income received in advance this is recognised as deferred income.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The director has reviewed the financial statements and does not consider that any significant judgements or estimates have been made in arising at the figures reported in the accounts.

The only area of judgement is around the annual impairment review over the properties, however as the property continues to be in productive use and is carried at cost less depreciation, in a strong market, this is not considered to be a significant area of estimation uncertainty.

5.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

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

2024

2023

Directors

2

2

The directors were remunerated through the subsidiary Protective Wear Supplies Limited.

2024

2023

£

£

Directors' remuneration

-

-

6.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

14,385

14,385

Auditors' remuneration

4,850

900

Auditors rem - accounts preparation

1,550

1,470

Auditors rem - tax compliance

380

365

7.

TAXATION

Analysis of the tax (credit)/charge

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

2024

2023

£

£

Current tax:

UK corporation tax

-

1,300

Under/over provision

25

(39

)

Total current tax

25

1,261

Deferred tax

(500

)

(500

)

Tax on profit

(475

)

761

Reconciliation of total tax (credit)/charge included in profit and loss

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

2024

2023

£

£

Profit before tax

3,552,730

922,969

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2023 - 19%)

675,019

175,364

Effects of:

Expenses not deductible for tax purposes

25

(64

)

Income not taxable for tax purposes

(675,072

)

(174,092

)

Depreciation in excess of capital allowances

53

53

Deferred Tax

(500

)

(500

)

Total tax (credit)/charge

(475

)

761

8.

DIVIDENDS

2024

2023

£

£

Interim

3,620,064

916,272

9.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

617,086

26,827

643,913

DEPRECIATION

At 1 January 2024

38,031

8,719

46,750

Charge for year

11,702

2,683

14,385

At 31 December 2024

49,733

11,402

61,135

NET BOOK VALUE

At 31 December 2024

567,353

15,425

582,778

At 31 December 2023

579,055

18,108

597,163

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

612

NET BOOK VALUE

At 31 December 2024

612

At 31 December 2023

612

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

Protective Wear Supplies Limited

Registered office: 10 Darklake View, Estover, Plymouth, PL6 7TL

Nature of business: supply of health and safety equipment.

%

Class of shares:

holding

Ordinary

100.00

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

2,544,484

172,471

Amounts owed by group undertakings are interest free, unsecured and have no set terms of repayment.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

2,516,334

100,290

Tax

-

1,300

VAT

1,200

1,200

Accruals and deferred income

3,949

-

2,521,483

102,790

Amounts owed to group undertakings are interest free, unsecured and have no set terms of repayment.

13.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

3,000

3,500

Deferred

tax

£

Balance at 1 January 2024

3,500

Utilised during year

(500

)

Balance at 31 December 2024

3,000

14.	CALLED UP SHARE CAPITAL

Allotted, issues and fully paid:

Number

Class

Nominal Value (£)

2024 (£)

2023 (£)

600

Ordinary

1

600

600

1

Ordinary A

1

1

1

1

Ordinary B

1

1

1

1

Ordinary C

1

1

1

1

Ordinary D

1

1

1

1

Ordinary E

1

1

1

1

Ordinary F

1

1

1

1

Ordinary G

1

1

1

1

Ordinary H

1

1

1

1

Ordinary I

1

1

1

1

Ordinary J

1

1

1

1

Ordinary K

1

1

1

1

Ordinary L

1

1

1

612

612

The Ordinary shares have attached to them voting rights, dividend rights and capital distribution (including on winding up) rights, they do not confer any right of redemption. The alphabet shares have all the same rights but do not carry the right to vote.

15.

RESERVES

Retained

earnings

£

At 1 January 2024

688,992

Profit for the year

3,553,205

Dividends

(3,620,064

)

At 31 December 2024

622,133

16.	ULTIMATE PARENT COMPANY

Squire Holdings 617 Ltd (13680700) is the ultimate parent company. A set of consolidated accounts for Squire Holdings 617 Ltd can be found at Companies House, Crown Way, Cardiff, CF14 3UZ.

17.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of Squire Holdings 617 Ltd by virtue of the split of the shareholdings.