REGISTERED NUMBER: 07511179 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 DECEMBER 2023 TO 31 DECEMBER 2024

FOR

Spirit Of 1873 Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

M J W Ellis

A W Ellis

C S Barass

REGISTERED OFFICE:

1 Swan Street

Wilmslow

Cheshire

SK9 1HF

REGISTERED NUMBER:

07511179 (England and Wales)

AUDITORS:

Armstrong Watson Audit Limited

Chartered Accountants

Statutory Auditors

York House

Thornfield Business Park

Northallerton

North Yorkshire

DL6 2XQ

The directors present their strategic report for the period 1 December 2023 to 31 December 2024.

REVIEW OF BUSINESS

The results for the financial period and the financial position of the Company are shown in detail in the annexed financial statements.

Turnover of the business decreased by 21% from £4,629,104 in 2023 to £3,656,882 in 2024.

Cost of sales increased by 19.1% to £3,149,890 (2023: £2,643,934) whilst administrative expenses increased by 89% to £4,056,442 (2023: £2,151,582).

The Company's Other operating income increased from £1,659,108 in 2023 to £1,721,223 in 2024.

As a result, Operating profit of the Company fell from £1,492,696 in 2023 to an operating loss of £1,828,227 in 2024.

At the end of the period, the Company had net assets of £1,577,638 - a decrease from £3,513,418 at 30 November 2023. This Company also had cash reserves of £100,567 in comparison to £479,264 in the prior period.

PRINCIPAL RISKS AND UNCERTAINTIES

Performance risk

The principal risk of the company is an adverse performance on the pitch, and its subsequent effect on income streams. The directors believe that they have in place the appropriate facilities and staff to ensure that the team continues to be as competitive as possible and to increase demand for supporter following.

Credit risk

It is the company's policy that customers who wish to trade on credit terms are subject to credit verification procedures. Receivables balances are monitored on an ongoing basis and action is taken promptly when payment terms are breached.

Interest rate risk

The company has agreed a fixed rate of interest on its loans from Wakefield Council and the Department of Culture, Media and Sport (DCMS).

Liquidity risk

The Board monitors cash forecasts prepared by management based on historic and anticipated future trading levels. Costs are constantly reviewed and capital investment is closely controlled.

ON BEHALF OF THE BOARD:

M J W Ellis - Director

16 September 2025

The directors present their report with the financial statements of the company for the period 1 December 2023 to 31 December 2024.

DIVIDENDS

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

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report.

M J W Ellis

A W Ellis

Other changes in directors holding office are as follows:

C S Barass - appointed 10 June 2024

POLITICAL DONATIONS AND EXPENDITURE

The company made charitable donations totalling £7,749 during the period, including £2,500 to the Local community trust and £5,249 to another Local rugby club. There were no political donations made during the period.

DISCLOSURE IN THE STRATEGIC REPORT

Information is not shown in the directors' report because it is shown in the strategic report instead under S414C(11). The strategic report includes a business review and a review of principal risks and uncertainties relevant to the company.

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 period. 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

Armstrong Watson Audit Limited, were appointed as registered auditors of the company on 17th May 2024.

The auditors will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006 at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M J W Ellis - Director

16 September 2025

Opinion

We have audited the financial statements of Spirit Of 1873 Ltd (the 'company') for the period 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 period 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 period for which the financial statements are prepared is consistent with the financial statements; and

- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- enquiring of management as to actual and potential litigation and claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.

Rohan Day (Senior Statutory Auditor)

for and on behalf of Armstrong Watson Audit Limited

Chartered Accountants

Statutory Auditors

York House

Thornfield Business Park

Northallerton

North Yorkshire

DL6 2XQ

16 September 2025

TURNOVER

3

3,656,882

4,629,104

Cost of sales

(3,149,890

)

(2,643,934

)

GROSS PROFIT

506,992

1,985,170

Administrative expenses

(4,056,442

)

(2,151,582

)

(3,549,450

)

(166,412

)

Other operating income

4

1,721,223

1,659,108

OPERATING (LOSS)/PROFIT

6

(1,828,227

)

1,492,696

Exceptional items

8

-

1,275,000

(1,828,227

)

2,767,696

Interest payable and similar expenses

9

(107,553

)

(143,912

)

(LOSS)/PROFIT BEFORE TAXATION

(1,935,780

)

2,623,784

Tax on (loss)/profit

10

-

85,241

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(1,935,780

)

2,709,025

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(1,935,780

)

2,709,025

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

16,487,981

14,621,698

Investments

13

1

1

16,487,982

14,621,699

CURRENT ASSETS

Stocks

14

165,622

29,747

Debtors

15

597,064

661,535

Cash at bank and in hand

16

100,567

479,264

863,253

1,170,546

CREDITORS

Amounts falling due within one year

17

(4,008,570

)

(3,625,523

)

NET CURRENT LIABILITIES

(3,145,317

)

(2,454,977

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,342,665

12,166,722

CREDITORS

Amounts falling due after more than one year

18

(11,765,027

)

(8,653,304

)

NET ASSETS

1,577,638

3,513,418

CAPITAL AND RESERVES

Called up share capital

20

15,283

15,283

Share premium

21

758,717

758,717

Retained earnings

21

803,638

2,739,418

SHAREHOLDERS' FUNDS

1,577,638

3,513,418

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

M J W Ellis - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 December 2022

14,783

30,393

709,217

754,393

Changes in equity

Issue of share capital

500

-

49,500

50,000

Total comprehensive income

-

2,709,025

-

2,709,025

Balance at 30 November 2023

15,283

2,739,418

758,717

3,513,418

Changes in equity

Total comprehensive income

-

(1,935,780

)

-

(1,935,780

)

Balance at 31 December 2024

15,283

803,638

758,717

1,577,638

1.	STATUTORY INFORMATION

Spirit Of 1873 Ltd 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 principal activity of the business is a professional rugby league club.

These financial statements have been prepared in Pound Sterling as this is the currency of the primary economic environment in which the company operates.

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, unless otherwise specified within these accounting policies.

Going concern

The directors have considered the on-going situation with the current cost of living crisis and its impact on income streams of the club.

The ultimate parent, Silkstone Finance Limited, has confirmed it will provide financial support to the company for a period of at least 12 months from the date of signing these financial statements. The directors have satisfied themselves that Silkstone Finance Limited are able to provide any support needed.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

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 requirement of paragraph 3.17(d);

•

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 requirement of paragraph 33.7.

This information is included within the consolidated financial statements of Silkstone Finance Limited as at 31 December 2024 and these financial statements may be obtained from Companies House, Cardiff, CF14 3UZ.

Judgements in applying accounting policies and key sources of uncertainty

The preparation of these financial statements required management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual result.

The directors consider the key accounting estimates to be the useful life and residual value of tangible fixed assets, valuation of freehold land and property, and the basis on which government grant income is reflected in these financial statements.

Useful lives and residual values of tangible fixed assets

The useful lives and residual values of tangible fixed assets are reviewed on an ongoing basis by the directors.

Grant income

The directors use judgement when considering the future economic benefit from the grant received from Wakefield Council. Based on the clubs ongoing commitment to its community use strategy the directors believe that the club will benefit from the grant received for a period of five years and therefore will be recognising the income over five years.

Turnover

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

Gate receipts relate to the proceeds taken at the turnstiles for each game and the season ticket sales for the season. Any prepaid season ticket sales are included in deferred income. Future credits against season tickets are recognised in deferred income.

Television fees relate to the payments for television coverage. They are accounted for on an accruals basis.

Sponsorship, advertising and hospitality is accounted for in the season to which it relates. Any prepaid sales are included in deferred income.

Merchandising relates to shop sales and is accounted for on a receipts basis.

Lottery donations are accounted for on a receipts basis.

Rent received relates the use of the pitch and is accounted for in the period in which the use of the pitch took place.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful economic lives on the following bases:

Freehold Land

- Not depreciated

Pitch

- 10% on cost

Freehold Improvements

- 2% on cost

Plant and machinery

- 4-25% on cost

Motor vehicles

- 25% on cost

Computer equipment

- 33% on cost

Fixture and fittings

- 10% on cost

The Stadium is subject to a formal valuation every three years and will be valued based on replacement cost. In the intervening years, the directors consider if there has been a material change to the valuation and if so, would carry out a directors' valuation. The useful life of the stadium is deemed to be 50 years. Upon valuation the revalued amount is depreciated over the remaining useful economic life. At the year end this was 50 years.

The gain or loss arising on the disposal of an asset is determined by the difference between the sales proceeds and the carrying value of the asset, and is credited or charges to profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverability of the cash-generating unit to which the asset belongs.

Stocks

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation

Taxation for the period 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 period 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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

3.

TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the principal activities of the company.

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

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Sale of goods

587,900

294,206

Rendering of services

2,057,193

2,153,002

Rents received

153,321

137,605

Central broadcast revenue

192,522

1,545,250

Player loan fees

18,291

115,662

Other revenue

647,655

383,379

3,656,882

4,629,104

All turnover arose within the United Kingdom.

4.	OTHER OPERATING INCOME

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Grant income

1,721,223

1,659,108

Government grants

Grant income for the period includes £1,721,223 received under arrangements in accordance with Section 106 of the Town and Country Planning Act 1990 and from Wakefield City Council from the Sports Resilience Fund.

Grant income received in the period is being recognised in the financial statements over five years to reflect the ongoing commitment by the club to its community use strategy.

5.	EMPLOYEES AND DIRECTORS

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Wages and salaries

3,677,615

2,758,500

Social security costs

417,628

460,564

Other pension costs

55,096

35,923

4,150,339

3,254,987

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

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

Players and coaching

33

33

Catering and stewards

31

31

General

16

16

80

80

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Directors' remuneration

-

-

6.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Other operating leases

107,183

63,224

Depreciation - owned assets

387,943

78,823

7.	AUDITORS' REMUNERATION

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

15,900

15,000

8.	EXCEPTIONAL ITEMS

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Exceptional items

-

1,275,000

Exceptional items in the previous year related to the write-off of a shareholder loan of £1,275,000.

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Other loan interest

107,553

143,912

10.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the period was as follows:

Period

1.12.23

to

Year Ended

31.12.24

30.11.23

£

£

Current tax:

UK corporation tax

-

(85,241

)

Tax on (loss)/profit

-

(85,241

)

11.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 December 2023

and 31 December 2024

1

1

2

AMORTISATION

At 1 December 2023

and 31 December 2024

1

1

2

NET BOOK VALUE

At 31 December 2024

-

-

-

At 30 November 2023

-

-

-