The directors present the strategic report and financial statements for the year ended 31 December 2024.

The principal activity of the company continues to be the manufacture and development of specialist fishing tackle, for our own brands of Korda, Tackle Guru & Carp Porter. We also act as a distributor for Mainline Baits and Kiana as well as Delkim electronic bite alarms exclusively in the European Union.

The UK based company distributes to retailers within in the UK as well as to the USA, South Africa, China and Japan. Our European based company in the Netherlands focusses on supply to both Western and Eastern Europe.

Our business is based on successful trading in a very seasonal environment. Retailer confidence in the first quarter is wholly based upon coming out of winter early, warm weather encourages the consumer to go fishing which in turn bolsters the confidence of the retailer into stocking the shelves. The earlier weather breaks for the spring, the better the year will be. Other factors that affect trading and have been noted to seriously restrict sales are large sporting events such as the World Cup as these go over several weeks and stop consumers from fishing as regularly as they would normally do.

Other risks included increased cost of materials, inflation and shipping which varies greatly with different world events. The UK economy is also a risk factor with the cost of living having increased significantly and consumers spending remaining b a concern for high street retailers.

Going concern

The directors believe that preparing the financial statements on the going concern basis is appropriate due to the continued success of the company’s operations and its now strong cash position.

Future developments

The company will continue to innovate and develop product across all brands. Our future growth will focus on complementary business acquisitions or start ups to bolster our strength within the marketplace. We implemented a business to consumer platform for our clothing which has been very successful we will continue to invest in this. The company success is based on market leading brands with heavy influence from the directors and market influencing professional anglers in marketing and product design.

One of the company's key objectives is to make sure our products deliver what we say they will do and our product development is designed in every way to help the consumer catch more fish in the process.

Objectives and policies

The company is exposed to a variety of financial risks. The company's overall risk management program seeks to minimise potential risks for the company. The board reviews and agrees policies managing risks. The most important components of financial risk affecting the company are as follows.:

Market Risk

The angling market is very stable with huge participation in the UK and throughout Europe. All of our brands in particular focus on the most popular styles and techniques associated with fishing across the UK and Western Europe. We would consider any risks to our market be very low. However risk to retailers is high, we see long established retail outlets closing too often. Retail businesses that do not have B2C platforms seem at greater risk.

Environmental risk

We continue to update and maintain sustainable and responsible packaging and manufacturing methods. We have developed new non-toxic weights as a lead alternative that will not only be cost-effective but sustainable in price to manufacture as well as a great alternative to well established lead components.

Exchange rate risk

The company deals with multiple suppliers who transact in US dollars. Hedging our exposure in order to minimise any potential negative movements in the exchange rate.

Price risk

Manufacturing costs are still increasing in Asia. China’s continued push to reduce environmental impact by small companies has increased costs along the supply chain. Asian suppliers are still working on very small margins and we believe price increases will continue to be an ongoing problem.

We have dealt with the same principal suppliers for many years. Our business is built on trust and solid personal relationships, which gives us the ability to negotiate and manage the purchase prices at source as well as being able to negotiate favourable credit terms.

Liquidity risk

The company continues to trade from cash generated from its ongoing activities. Other long-term liabilities due from related parties are reviewed regularly to ensure that the company operations are not jeopardised.

Credit risk

The credit rating of our customers is monitored regularly and provisions are made for doubtful debt when necessary.

The company has defined its key performance indicators to align performance and accountability to its strategic plan. The key focus of KPI's is on a number of financial and operational performance measures, designed to ensure that the strategy successfully ensures that the business continues to thrive.

2024      2023

Gross profit margin     36.7% 28.6%

Wages as % of turnover     18.8% 18.0%

The reasons for the changes in KPIs are set out in the fair review of the business.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2024.

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £nil (2023: £nil). The directors do not recommend payment of a dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company and its associated brands are well known for reliable and innovative developments in fishing tackle. To understand the passion that goes into our products you need to understand that the company is managed by anglers and so the product that we design are generally designed or developed to solve problems or issues within their own angling. This is one of our strongest areas.

Over the next 3 – 5 years it is our intention to move forward and outside of our normal product categories. For sustained growth, investment in design and CAD staff, electronic engineers, carbon expertise and company acquisitions to develop new areas are very much on our agenda.

The directors are responsible for preparing the annual report 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 UK 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.

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of risk management and future developments.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

We have audited the financial statements of Korda Developments Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 Auditor's 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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.

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 course of 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 our audit:

• the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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.

As explained more fully in the Directors' Responsibilities Statement, 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 is 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.

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

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 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.

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

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 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.

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 Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, 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.

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

• We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

Korda Developments Limited is a company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ and its business address is Kazoku House, Honywood Road, Basildon, Essex, SS14 3DS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable futurtruee and for at least a period of twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover from the sale of goods represents amounts receivable for the sale of specialist fishing tackle and equipment, net of VAT and trade discounts. Income is recognised when the goods are dispatched, and a right to income arises.

Turnover from the rendering of services represents amounts receivable for the production of fishing television programmes. Income is recognised when the programmes are aired, and a right to income arises.

Goodwill represents the excess of the cost of acquisition of the trade assets of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 5 years.

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 lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

For each line of stock, a provision is made where the net reisable value is less than cost. Net realisable value is the estimated selling price for stocks less all estimated costs of completion and costs necessary to make the sale. The estimated selling price for each stock line is a judgement based mainly on recent selling patterns for that product.

Cash and cash equivalents are basic financial assets and 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.

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, 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. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Research and development

Research and development expenditure is written off to the profit and loss account in the year in which it is incurred.

Development expenditure incurred on an individual project is carried forward when its future recoverability can be foreseen with reasonable assurance. Any expenditure carried forward is amortised in line with the sales received from the related project.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are 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 if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property, plant and equipment and note 1.6 for the useful economic lives for each class of asset.

The annual amortisation charge for intangible assets is sensitive to changes in the estimated lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. Goodwill impairment reviews are also performed annually. These reviews require an estimation of the value in use of the cash generating units to which goodwill has been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise for the cash generating unit and a suitable discount rate to calculate present value. See note 12 for the carrying amount of the intangible assets and notes 1.4 and 1.5 for the useful economic lives for each class of asset.

For each line of stock, a provision is made where the net realisable value is less than cost. Net realisable value is the estimated selling price for stocks less all estimated costs of completion and costs necessary to make the sale. The estimated selling price for each stock line is a judgement based mainly on recent selling patterns for that product.

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 16 for the net carrying amount of the debtors and associated impairment provision.

An analysis of the company's turnover is as follows:

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The remuneration of key management personnel during the year amounted to £2,363,230 (2023: £1,881,669).

The loan write off relates to a provision made against a loan balance to a related party.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Details of the company's subsidiaries at 31 December 2024 are as follows:

Trade debtors disclosed above are measured at amortised cost.

Coutts & Company hold a fixed and floating charge with negative pledge over freehold and leasehold property and intellectual property rights. The loan was fully repaid during the year. The loan had an interest rate of 2.75% above base rate.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the year end there were unpaid pension contributions of £34,886 (2023: £31,762).

All ordinary shares have full voting and capital distribution rights. The shares rank pari passu in all respects.

There is a fixed and floating charge in favour of the bank, held over all the property and assets of the company.

There is a cross guarantee, in favour of the bank, between Korda Developments Limited, Tackle Guru Limited, Gigantica Carp Limited, Embryo Angling Habitats Limited and Carpfest Limited. The facility in use at the year end was £nil (2023: £nil).

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The following entities are related by virtue of common control: Gigantica Carp Limited, Gigantica Carp SARL, Carpfest Limited, Korda Europe BV, Korda Holdings BV and Embryo Angling Habitats Limited. Tackle Guru Limited is a wholly owned subsidiary and the company has taken the exemption available to not disclose transactions with 100% owned subsidiaries.

At the year end included in debtors is an amount of £94,856 (2023: £150,554) owed by Gigantica Carp Limited. No interest is being charged on this loan. During the year, the company made sales of £43,267 (2023: £55,408) to and purchases of £nil (2023: £13,770) from Gigantica Carp Limited.

At the year end included in debtors is a net amount of £6,730 (2023: £76,308) owed by Gigantica Carp SARL. During the year, the company made sales of £65,044 (2023: £79,488) and purchases of £nil (2023: £8,280) from Gigantica Carp SARL.

At the year end included in debtors is a net amount of £6,539,692 (2023: £6,173,757) owed by Korda Europe BV. During the year, the company made sales of £11,309,862 (2023: £11,625,228) to Korda Europe BV and purchases of £180,241 (2023: £228,980) from Korda Europe BV.

At the balance sheet date, the company was owed a net amount of £659,150 (2023: £703,690) owed by Korda Holdings BV.

At the year end included in debtors is a net amount of £3,197,581 (2023: £3,190,565) owed by Embryo Angling Habitats Limited. During the year, the company made sales of £346,413 (2023: £386,525) to and purchases of £7,007 (2023: £3,763) from Embryo Angling Habitats Limited.

Included within other creditors is an amount of £8,999 (2023: £2,922,779) due to D Fairbrass. Interest of £25,819 (2023: £139,764) was charged to the company on this balance.

Included in other debtors is an amount of £311,248 (2023: £nil) owed by D Clarke. Interest of £7,500 (2023: £nil) was charged to the director on this balance during the year.

D Fairbrass is considered to be the controlling party by virtue of his majority shareholding.