REGISTERED NUMBER: 00272743 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31st December 2024

for

WILSONS AUTOMOBILES AND COACHWORKS

LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Statement of Directors' Responsibilities

6

Report of the Independent Auditors

7

Consolidated Statement of Comprehensive Income

10

Consolidated Statement of Financial Position

11

Company Statement of Financial Position

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Statement of Cash Flows

15

Notes to the Consolidated Statement of Cash Flows

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

I A Wilson

Miss T Wilson

Ms M Wilson

Mrs T Wilson

Mrs G Storr

Ms T Johnstone

J Butler

W Gumienny

SECRETARY:

Mrs T Wilson

REGISTERED OFFICE:

Nonsuch Business Park

Kiln Lane

Epsom

Surrey

KT17 1BH

REGISTERED NUMBER:

00272743 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

The directors present their strategic report of the Company and the Group for the year ended 31st December 2024.

REVIEW OF BUSINESS

Overall demand for new and used vehicles remained strong during the year, this was despite pressure on customers finances due to interest rate increases and inflation. Manufacturers of new vehicles managed to improve supply levels compared to the previous year.

The group's performance was positive with turnover of £171.2m (31.12.23: £180.3m), and gross profit margin decreasing to 12.6% (31.12.23 - 14.2%). Margins have been impacted by manufacturers of vehicles, parts and materials have continued to rise and as manufactors improve supply levels this has lead to downward pressure on the used vehicle prices at the end of 2023.

As a result of all of the above, the profit before tax has decreased from £3.0m to £0.3m, with the net profit margin decreasing from 1.66% to 0.28%.

At the end of the financial year the business remains in a strong financial position. Net assets are now £36.6m (31.12.23: £36.5m).

The average number of employees during the year was 240 (31.12.23 - 255).

No distributions were made in the period as the business continued to reinvest profits to fund future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The Board maintains a policy of reviewing risks which may impact the group's position and performance.

The main risks and uncertainties associated with the group's operations are set out below:

Financial instrument risks

The group's financial instruments comprise cash and cash equivalents and risks here include interest rate risk, credit risk and to a lesser extent liquidity risk.

General economic conditions

The group's performance is influenced by general economic conditions, consumer confidence and credit availability. Restriction on the availability of retail credit could adversely affect the group's performance. Consumer confidence in the UK remains fragile as a result of wider economic conditions and therefore discretionary expenditure may be reduced by many customers, which would impact on the number and type of vehicles that will be sold in the year.

Uncertainty regarding the current level of inflation and new and used vehicle prices will also impact on consumers decision making.

Manufacturers

The group operates under a number of franchise agreements with automotive manufacturers and, to some extent, manufacturers exercise a degree of control over the operations of the group's franchises. Our franchise agreements could be terminated or not renewed for a variety of reasons. The success of individual franchises is also dependent on the reputation of the various manufacturers, particularly in relation marketing, design and build quality of their products. Significant deterioration in the reputation of any of the major manufacturers may have an impact on the performance of the group.

The directors believe the group is as well placed as any in the industry to deal with these risks and uncertainties.

SECTION 172(1) STATEMENT

The directors are aware of their duties under section 172 of the Companies Act 2006 to run the company and group for the benefit of its shareholders, and in doing so are mindful of the long-term impact of their actions on the group's stakeholders. The interests of these stakeholders have been considered in detail in enacting the decisions highlighted in this report.

A detailed review of assets across the portfolio for strategic planning was conducted during the year. The directors will continue to review their long term strategy for the benefit of its shareholders, however there are no planned changes to the group's strategy in the short term.

The group continues to deliver exceptional standards of service that demonstrates its commitment to long term performance, while the proactive measures it has taken to guard against the negative impact of inflation and interest rate increases and have prioritised the evolving needs of its customers, suppliers and employees. The directors closely monitor the outcome of customer satisfaction questionnaire as this is considered an essential measure for long term performance.

No distributions were made during the year, as the directors believe maintaining adequate funds has reduced the impact of rising interest rates and also provides the group with the ability to purchase stock at discounted rates when opportunities arise.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Suppliers - The board are involved in constant contact with vehicle manufacturers and regularly discuss volumes, targets and the facilities provided.

Finance providers - The directors have a strong relationship with finance providers to ensure the customers are provided with the most suitable finance options available.

Customers - The directors believe that the customer satisfaction and the reputation of the brand locally and online is key for the Group success.

GOING CONCERN AND FUTURE DEVELOPMENTS

The directors are closely monitoring the industry and expect 2025 to be continue to be challenging with customers having uncertainty regarding the economy. In 2025 the Nissan offering will be reduced to selling used vehicles, services and parts. This does lead to the opportunity to promote the existing growing franchises such as Hyundai with a new showroom and the addition of Vauxhall and Leap Motors franchises to the Wilsons range.

The directors are confident the Group will be able to continue to meet its liabilities as they fall due, for at least 12 months from the date these financial statements were authorised for issue. As a result, the directors believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

ON BEHALF OF THE BOARD:

J Butler - Director

22nd September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the Group in the year under review was that of trading in the servicing, hiring and sales of motor vehicles.

DIVIDENDS

The directors do not recommend payment of a final dividend.

FUTURE DEVELOPMENTS

The directors are closely monitoring the industry change from a franchise model to an agency model.

DIRECTORS

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

I A Wilson

Miss T Wilson

Ms M Wilson

Mrs T Wilson

Mrs G Storr

Ms T Johnstone

J Butler

W Gumienny

STREAMLINED ENERGY AND CARBON REPORTING

We are required to report the energy and greenhouse gas emissions for the year ended 31st December 2024 per the Companies (Directors' Report) and LLP (Energy and Carbon Report) Regulations 2018.

We applied a methodology to calculate the greenhouse gas emissions based on the 'Environmental Reporting Guidelines Including streamlined energy and carbon reporting guidance (March 2020)' issued by DEFRA, using DEFRA's 2023 conversion factors. If required, consumption has been extrapolated from available data or direct comparison made to a comparable period.

We report all material emission sources required by the regulations for which we deem ourselves to be responsible with the Groups financial control.

Ongoing investment in solar panels results in the electricity generation of 309,469 KWH (31.12.23 - 317,205 KWH).

The table below includes total energy consumption (reported as kWh) and greenhouse gas emissions required by the regulations, along with our intensity ratio.

31.12.24

31.12.23

Energy generated from solar panels (kWh)

309,469

317,205

Gross energy consumption - used for emissions calculation (kWh)

2,666,577

2,927,213

Gas combustion emissions, scope 1 (tCO2e)

307

309

Purchased electricity emissions, scope 2 (tCO2e)

201

200

Vehicle Fuel Combustion emissions, scope 1 (tCO2e)

240

209

Total gross reported emissions (tCO2e)

748

718

Turnover (£m)

171

183

Intensity Ratio: Turnover (tCO2e / £m)

4.4

3.9

DISCLOSURE IN THE STRATEGIC REPORT

The principal risks and uncertainties facing the group have been considered in the strategic report.

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 Group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Group's auditors are aware of that information.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Butler - Director

22nd September 2025

The directors are responsible for preparing the Group 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 the Group and of the profit or loss of the Group 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 and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Opinion

We have audited the financial statements of Wilsons Automobiles and Coachworks Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31st December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 Group's and of the Parent Company affairs as at 31st December 2024 and of the Group's 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 Group 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 group's and the parent 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 the audit:

-	the information given in the Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 six, 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 group's and the parent 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 group or the parent 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to 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; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

-

We obtained an understanding of the legal and regulatory framework applicable to the entity and the sector in which it operates, through discussions with management and those charged with governance. We identified the financial reporting framework including but not limited to United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Data Protection Act 2018, Bribery Act 2010, tax legislation and the Waste Electrical and Electronic Equipment Regulations 2013 as being of significance in the context of the company and its ongoing activities.

-

We made enquiries with management and those charged with governance along with reviewing board meeting minutes to confirm our understanding that the company continued to comply with the applicable legal and regulatory frameworks, and also to confirm our understanding of the specific policies and procedures enlisted by the group to ensure ongoing compliance.

-

We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud may occur, and gained an understanding of the company's policies and procedures on fraud risks through discussion with the group's management.

-

We considered the risk of material misstatement due to fraud as a result of possible management override of controls and improper revenue recognition. In addressing this risk of fraud from the above we have tested the appropriateness of journal entries and other adjustments including a sample of manual journals along with testing revenue recognition and confirming that cut-off is appropriate.

-

We communicated those laws and regulations considered relevant to the group, and potential fraud risks to all engagement team members, and consider that the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations, and remained alert to any indications of fraud throughout the audit.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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

Use of our report

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

Tim Lindfield (Senior Statutory Auditor)

For and on behalf of TC Group

Statutory Auditor

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

23rd September 2025

REVENUE

4

171,151,933

180,331,222

Cost of sales

(149,220,176

)

(154,647,816

)

GROSS PROFIT

21,931,757

25,683,406

Administrative expenses

(21,909,022

)

(22,830,038

)

22,735

2,853,368

Other operating income

14,400

15,050

OPERATING PROFIT

6

37,135

2,868,418

Interest receivable and similar income

217,182

166,310

PROFIT BEFORE TAXATION

254,317

3,034,728

Tax on profit

7

(161,427

)

(727,160

)

PROFIT FOR THE FINANCIAL YEAR

92,890

2,307,568

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

92,890

2,307,568

Profit attributable to:

Owners of the parent

92,890

2,307,568

Total comprehensive income attributable to:

Owners of the parent

92,890

2,307,568

FIXED ASSETS

Property, plant and equipment

9

12,328,016

12,549,466

Investments

10

58,848

58,848

Investment property

11

250,000

705,889

12,636,864

13,314,203

CURRENT ASSETS

Inventories

12

33,587,684

38,450,030

Debtors

13

4,816,895

4,196,878

Cash at bank and in hand

7,963,985

4,587,676

46,368,564

47,234,584

CREDITORS

Amounts falling due within one year

14

22,181,518

23,750,780

NET CURRENT ASSETS

24,187,046

23,483,804

TOTAL ASSETS LESS CURRENT LIABILITIES

36,823,910

36,798,007

PROVISIONS FOR LIABILITIES

18

196,756

263,743

NET ASSETS

36,627,154

36,534,264

CAPITAL AND RESERVES

Called up share capital

19

164,100

164,100

Share premium

20

1,787,974

1,787,974

Revaluation reserve

20

2,806,469

2,844,931

Capital redemption reserve

20

105,370

105,370

Retained earnings

20

31,763,241

31,631,889

SHAREHOLDERS' FUNDS

36,627,154

36,534,264

The financial statements were approved by the Board of Directors and authorised for issue on 22nd September 2025 and were signed on its behalf by:

J Butler - Director

FIXED ASSETS

Property, plant and equipment

9

12,328,015

12,549,466

Investments

10

159,048

159,048

Investment property

11

-

-

12,487,063

12,708,514

CURRENT ASSETS

Inventories

12

33,587,684

38,450,030

Debtors

13

5,522,784

4,902,767

Cash at bank

7,963,785

4,587,476

47,074,253

47,940,273

CREDITORS

Amounts falling due within one year

14

22,281,518

23,850,781

NET CURRENT ASSETS

24,792,735

24,089,492

TOTAL ASSETS LESS CURRENT LIABILITIES

37,279,798

36,798,006

PROVISIONS FOR LIABILITIES

18

196,756

263,743

NET ASSETS

37,083,042

36,534,263

CAPITAL AND RESERVES

Called up share capital

19

164,100

164,100

Share premium

20

1,787,974

1,787,974

Revaluation reserve

20

2,806,469

2,844,931

Capital redemption reserve

20

105,370

105,370

Retained earnings

20

32,219,129

31,631,888

SHAREHOLDERS' FUNDS

37,083,042

36,534,263

Company's profit for the financial year

548,779

2,307,567

The financial statements were approved by the Board of Directors and authorised for issue on 22nd September 2025 and were signed on its behalf by:

J Butler - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1st January 2023

164,100

29,285,860

1,787,974

Changes in equity

Total comprehensive income

-

2,346,029

-

Balance at 31st December 2023

164,100

31,631,889

1,787,974

Changes in equity

Total comprehensive income

-

131,352

-

Balance at 31st December 2024

164,100

31,763,241

1,787,974

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1st January 2023

2,883,392

105,370

34,226,696

Changes in equity

Total comprehensive income

(38,461

)

-

2,307,568

Balance at 31st December 2023

2,844,931

105,370

36,534,264

Changes in equity

Total comprehensive income

(38,462

)

-

92,890

Balance at 31st December 2024

2,806,469

105,370

36,627,154

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1st January 2023

164,100

29,285,860

1,787,974

Changes in equity

Total comprehensive income

-

2,346,028

-

Balance at 31st December 2023

164,100

31,631,888

1,787,974

Changes in equity

Total comprehensive income

-

587,241

-

Balance at 31st December 2024

164,100

32,219,129

1,787,974

Capital

Revaluation

redemption

Total

reserve

reserve

equity

£

£

£

Balance at 1st January 2023

2,883,392

105,370

34,226,696

Changes in equity

Total comprehensive income

(38,461

)

-

2,307,567

Balance at 31st December 2023

2,844,931

105,370

36,534,263

Changes in equity

Total comprehensive income

(38,462

)

-

548,779

Balance at 31st December 2024

2,806,469

105,370

37,083,042

Cash flows from operating activities

Cash generated from operations

1

5,813,875

(931,178

)

Tax paid

(790,368

)

(977,587

)

Net cash from operating activities

5,023,507

(1,908,765

)

Cash flows from investing activities

Purchase of tangible fixed assets

(211,398

)

(493,160

)

Interest received

217,182

166,310

Net cash from investing activities

5,784

(326,850

)

Cash flows from financing activities

Amount introduced by directors

1,527

15,464

Amount withdrawn by directors

(18,103

)

(11,512

)

Net cash from financing activities

(16,576

)

3,952

Increase/(decrease) in cash and cash equivalents

5,012,715

(2,231,663

)

Cash and cash equivalents at beginning of year

2

2,951,270

5,182,933

Cash and cash equivalents at end of year

2

7,963,985

2,951,270

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Profit before taxation

254,317

3,034,728

Depreciation charges

432,848

622,340

Loss on revaluation of fixed assets

455,889

-

Finance income

(217,182

)

(166,310

)

925,872

3,490,758

Decrease/(increase) in inventories

4,862,346

(8,803,150

)

Increase in trade and other debtors

(350,495

)

(382,499

)

Increase in trade and other creditors

376,152

4,763,713

Cash generated from operations

5,813,875

(931,178

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

7,963,985

4,587,676

Bank overdrafts

-

(1,636,406

)

7,963,985

2,951,270

Year ended 31st December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

4,587,676

5,182,933

Bank overdrafts

(1,636,406

)

-

2,951,270

5,182,933

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

4,587,676

3,376,309

7,963,985

Bank overdrafts

(1,636,406

)

1,636,406

-

2,951,270

5,012,715

7,963,985

Total

2,951,270

5,012,715

7,963,985