REGISTERED NUMBER: 03114289 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

For The Year Ended 31 December 2024

for

Dohler (UK) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

S R H Fletcher

C T Melton

M Walsh

REGISTERED OFFICE:

1a Opal Court

Opal Drive Fox Milne

Milton Keynes

Buckinghamshire

MK15 0DF

REGISTERED NUMBER:

03114289 (England and Wales)

AUDITORS:

Kingscott Dix Limited

Chartered Accountants

and Statutory Auditor

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a natural food and beverage supplier.

REVIEW OF BUSINESS

In the opinion of the directors, the general performance and financial position of Doehler UK has remained strong throughout 2024, particularly given the ongoing economic pressures and supply chain challenges affecting the wider industry.

2024

2023

2022

2021

Turnover

£71.73M

£63.32M

£58.32M

£62.59M

Gross Profit

£9.49M

£6.95M

£8.05M

£6.09M

Profit Before Tax

£3.69M

£2.32M

£2.78M

£2.39M

Despite inflationary headwinds and continued cost pressures, the Company successfully delivered year on year revenue growth and sustained profitability underpinned by its strong customer relationships and disciplined operation execution.

PRINCIPAL RISKS AND UNCERTAINTIES

In 2024, Doehler (UK) Ltd, like others in the food and beverage sector, faced ongoing volatility in global supply chains and rising input costs. However, the Company continued to work collaboratively with key customers and partners to manage disruption and maintain continuity of service.

The Company's ability to adapt its product offering, invest in innovation, and strengthen supplier and customer partnerships has enabled it to remain resilient.

In addition, the development of targeted commercial strategies and new product streams continues to support future growth.

Doehler is mindful of broader macroeconomic and geopolitical challenges and is actively developing contingency plans and cost-optimisation initiatives to reduce volatility. The directors remain confident in the Company's ability to continue delivering strong service, quality, and value to customers.

SECTION 172(1) STATEMENT

Throughout the 2024 financial year, the Board continued to act, in good faith, to promote the long-term success of the Company under section 172(1) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

C T Melton - Director

17 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 a natural food and beverage supplier.

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.

S R H Fletcher

C T Melton

M Walsh

FINANCIAL INSTRUMENTS

The Company's activities expose it to a number of financial risks including cash flow risk, credit risk and liquidity risk. The use of financial derivatives is governed by the Company's policies approved by the board of directors. The Company does not use derivative financial instruments for speculative purposes.

Cash flow risk

The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates. The Company manages its sales and supply side contracts regularly to limit exposure.

Credit risk

The Company's principal financial instruments comprise bank balances, bank overdrafts, group loans, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

The Company's credit risk is primarily attributable to trade debtors. These are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amount outstanding for both time and credit limits. The currency risk arising out of overseas sales invoiced in local currencies is not considered significant.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The Company has no significant concentration of credit risk.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Company uses available group finance.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

RESEARCH AND DEVELOPMENT ACTIVITY

The company continues to invest in research and development to support innovation and maintain its competitive position.

FUTURE DEVELOPMENTS

The directors remain focused on the company's strategic growth and operational improvements. Future plans include expanding market presence, enhancing product offerings and investing in technology.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors maintain regular communication with key stakeholders to support effective operations. Engagement with suppliers and customers focuses on quality, serve and mutual expectations, while relationships with other stakeholder are managed to promote transparency and long-term success.

STREAMLINED ENERGY AND CARBON REPORTING

In accordance with the Companies (Directors' Report) Regulations 2018, the company is required to report on its UK energy use and associated greenhouse has emissions.

As a non-manufacturing site, Dohler (UK) Limited's energy consumption is benchmarked against similar, office based sites, however, we are aligned to Doehler Group's wider sustainability agenda, constantly reviewing our energy performance and objective of reducing our CO2 emissions.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C T Melton - Director

17 September 2025

Opinion

We have audited the financial statements of Dohler (UK) 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.

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

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety including employment laws, GDPR, COSHH, Food Safety Regulations and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

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. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

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.

Stephen Baily (Senior Statutory Auditor)

for and on behalf of Kingscott Dix Limited

Chartered Accountants

and Statutory Auditor

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

18 September 2025

TURNOVER

71,709,867

63,319,480

Cost of sales

62,235,572

56,373,043

GROSS PROFIT

9,474,295

6,946,437

Administrative expenses

5,784,985

4,703,741

OPERATING PROFIT

5

3,689,310

2,242,696

Interest receivable and similar income

346,998

206,583

4,036,308

2,449,279

Interest payable and similar expenses

6

362,712

132,879

PROFIT BEFORE TAXATION

3,673,596

2,316,400

Tax on profit

7

1,395,404

312,464

PROFIT FOR THE FINANCIAL YEAR

2,278,192

2,003,936

PROFIT FOR THE YEAR

2,278,192

2,003,936

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,278,192

2,003,936

FIXED ASSETS

Intangible assets

8

406,834

338,839

Tangible assets

9

124,374

116,572

531,208

455,411

CURRENT ASSETS

Stocks

10

131,999

294,010

Debtors

11

21,962,859

16,954,072

Cash at bank and in hand

337,037

601,777

22,431,895

17,849,859

CREDITORS

Amounts falling due within one year

12

9,375,951

6,996,310

NET CURRENT ASSETS

13,055,944

10,853,549

TOTAL ASSETS LESS CURRENT LIABILITIES

13,587,152

11,308,960

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

15

13,587,052

11,308,860

SHAREHOLDERS' FUNDS

13,587,152

11,308,960

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

C T Melton - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

9,304,924

9,305,024

Changes in equity

Total comprehensive income

-

2,003,936

2,003,936

Balance at 31 December 2023

100

11,308,860

11,308,960

Changes in equity

Total comprehensive income

-

2,278,192

2,278,192

Balance at 31 December 2024

100

13,587,052

13,587,152

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

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 entities within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Where the Company acts as principal when incurring product related taxes such as excise duties, which are then invoiced to customers, those invoiced amounts are included in turnover.

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.

Development costs are being amortised evenly over their estimated useful life of five and ten years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Research and development

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods in the revision affects both current and future periods.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

3,497,808

3,187,696

Social security costs

417,985

309,198

Other pension costs

251,870

165,404

4,167,663

3,662,298

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

31.12.24

31.12.23

Management

3

2

Admin and Support

17

17

Sales

24

19

Technical

8

8

52

46

31.12.24

31.12.23

£

£

Directors' remuneration

273,250

341,261

Directors' pension contributions to money purchase schemes

30,810

38,551

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

Money purchase schemes

1

2

Information regarding the highest paid director is as follows:

31.12.24

31.12.23

£

£

Emoluments etc

235,748

207,081

Pension contributions to money purchase schemes

22,778

19,980

5.	OPERATING PROFIT

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

31.12.24

31.12.23

£

£

Depreciation - owned assets

39,406

44,576

Profit on disposal of fixed assets

-

(4,176

)

Development costs amortisation

135,251

103,103

Auditors' remuneration

38,053

25,029

Auditors' remuneration for non audit work

13,085

12,810

Research and development

-

1,892,660

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Other loan interest

362,712

132,879

7.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

934,565

307,117

Underprovision in prior year

460,839

5,347

Tax on profit

1,395,404

312,464

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:

31.12.24

31.12.23

£

£

Profit before tax

3,673,596

2,316,400

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

918,399

579,100

Effects of:

Expenses not deductible for tax purposes

(3,789

)

(65,207

)

Adjustments to tax charge in respect of previous periods

460,839

5,347

Research and development tax credit

-

83,593

Deferred tax not recognised

(4,409

)

355

Change in taxation rate

-

(35,386

)

Over/(under)provision of tax liability

24,238

(255,464

)

Depreciation on non qualified asset

126

126

Total tax charge

1,395,404

312,464

8.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

642,303

Additions

203,246

At 31 December 2024

845,549

AMORTISATION

At 1 January 2024

303,464

Amortisation for year

135,251

At 31 December 2024

438,715

NET BOOK VALUE

At 31 December 2024

406,834

At 31 December 2023

338,839

9.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

126,316

31,396

264,741

104,042

526,495

Additions

-

-

47,208

-

47,208

Disposals

-

-

(4,458

)

-

(4,458

)

At 31 December 2024

126,316

31,396

307,491

104,042

569,245

DEPRECIATION

At 1 January 2024

113,143

31,396

168,157

97,227

409,923

Charge for year

502

-

32,089

6,815

39,406

Eliminated on disposal

-

-

(4,458

)

-

(4,458

)

At 31 December 2024

113,645

31,396

195,788

104,042

444,871

NET BOOK VALUE

At 31 December 2024

12,671

-

111,703

-

124,374

At 31 December 2023

13,173

-

96,584

6,815

116,572

10.

STOCKS

31.12.24

31.12.23

£

£

Stocks

131,999

294,010

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

13,214,032

12,868,774

Amounts owed by group undertakings

8,635,897

4,059,673

Other debtors

50,637

-

Prepayments

62,293

25,625

21,962,859

16,954,072

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

172,380

166,406

Amounts owed to group undertakings

5,228,039

4,141,531

Corporation tax

1,218,588

307,117

Social security and other taxes

2,112,433

1,779,625

Accrued expenses

644,511

601,631

9,375,951

6,996,310