REGISTERED NUMBER: 03043921 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Golfhill Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Notes to the Financial Statements

12

DIRECTORS:

Miss M E Broyd

L Omodei

SECRETARY:

T&W Secretaries Limited

REGISTERED OFFICE:

38 Craven Street

London

WC2N 5NG

REGISTERED NUMBER:

03043921 (England and Wales)

AUDITORS:

Darnells Audit Limited

Quay House

Quay Road

Newton Abbot

Devon

TQ12 2BU

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

REVIEW OF BUSINESS

Trading conditions during the year ended 31 December 2024 remained challenging with inflation and increasing employment costs at the forefront of our business focus. However, the company has traded well with increases in occupancy and fee levels and also further cost saving synergies has resulted in an increased net profit before dividends of £994,572 (2023: £934,361). The company's shareholders' funds as at 31 December 2024 were £2,824,190 (2023: £2,695,392).

A number of capital and maintenance projects were also undertaken in the year, with further car parking spaces created at Blackdown care home and a property repair at Hill House which resolved some structural issues identified in an extension which was originally built in 2015. This should secure the long term integrity of the extension.

PRINCIPAL RISKS AND UNCERTAINTIES

The economic outlook is more uncertain than in recent years with inflationary pressures and cost of employment increases driving business uncertainty, however we expect the care sector to be more resilient than others as residential care remains essential for the country's ageing populations.

The group operates in a highly regulated business sector and the directors take a keen interest in the management of the business to ensure that regulatory standards are met, and indeed exceeded wherever possible.

Progressive increases in the National Living Wage and latterly to National Insurance contributions will continue to have a significant impact on the cost base of all our homes. We continue to budget accordingly and reflect associated fee increases at least for privately funded clients. Some public sector funders have taken account of the National Living Wage in their fee structures.

Public services continue to face very tight financial constraints and this puts pressure on Social Services funded care fees which generally are increased by less than inflation. Our focus on private clients helps to mitigate this risk. Additionally, we will renegotiate local authority fees wherever possible.

Staff availability remains a concern with shortages of care staff reported in various parts of the country. We mitigate where possible through competitive wage rates, high quality training and a positive working environment.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, loans by and to the company. The main

purpose of these instruments is to raise funds for the company's operations and to finance its operations.

Due to the nature of the financial instruments used by the company, there is no exposure to price risk. The

company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining sufficient cash reserves to cover planned

expenditure in the foreseeable future. A balance is achieved between ensuring continuity of funding by maintaining

sufficient cash reserves.

Loans to and from other group companies are unsecured, bear interest and are repayable on demand.

Bank loans are guaranteed and secured by the ultimate parent company, Codess Sociale Societa` Cooperativa Sociale.

Amounts due under hire purchase contracts are secured upon the assets acquired.

FUTURE DEVELOPMENTS

The directors remain keen to expand the business and continue to look for expansion opportunities whether through further development of the existing homes, acquisition of trading businesses or new build developments

The overall outlook for fees remains positive with a continued focus on quality and privately funded clients. Industry observers continue to report an ageing population and a relative scarcity of quality care beds.

KEY PERFORMANCE INDICATORS

We monitor our performance by measuring and tracking key performance indicators (KPIs) that we believe are important to our continued success. In this regard we present the following data for the year and compare them with current industry averages where available.

Our overall occupancy rate at 92% compared favourably with the current industry average of 88.3%*.

Direct payroll costs as a percentage of fees were 60.3% in 2024 compared to 61.1% in 2023. The industry average for payroll costs is 56.7%*

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) is another key measure to monitor the financial performance. EBITDA increased to £1,641,907 in 2024 from £1,421,283 in 2023.

* source of industry averages - Knight Frank 2024 UK Care Homes Trading Performance Review.

ON BEHALF OF THE BOARD:

Miss M E Broyd - Director

12 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of owning and operating residential care homes.

DIVIDENDS

An interim dividend of £8,349.67 per share was paid on 31 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 was £834,967.

DIRECTORS

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

Miss M E Broyd

L Omodei

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable 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 the group 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 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 company's auditors are aware of that information.

AUDITORS

The auditors, Darnells Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Miss M E Broyd - Director

12 September 2025

Opinion

We have audited the financial statements of Golfhill Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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 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, misrepresentation or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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

We obtained an understanding of the legal and statutory frameworks that are applicable to the company, and determined that the most significant are the Care Standards Act 2020, the Health and Social Care Act 2008, the Care Quality Commission (Registration) Regulations 2010, the Food Safety Act 1990 and the Food Hygiene (England) Regulations 2006 (as well as FRS 102, the Companies Act 2006 and relevant tax compliance regulations in the UK).

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by considering the controls that the company has established to both address risks identified by management and to prevent, deter and detect fraud. No particular areas were identified during the audit as being susceptible to material misstatement due to fraud.

We evaluated the conditions in the context of incentives and/or pressure to commit fraud, considering the opportunity to commit fraud and the potential rationalisation of the fraudulent act.

Based on this understanding, we designed our audit procedures to detect material misstatements in respect of irregularities, including fraud, and to identify non-compliance with the laws and regulations above, as follows:

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of management in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing compliance with the Care Standards Act 2000, the Health and Social Care Act 2008, the Care Quality Commission (Registration) Regulations 2010 and Food Safety and Food Hygiene laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

We corroborated our enquiries through inspection of supporting documentation and records, as well as reviewing correspondence with regulatory bodies where available.

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.

Sean Murphy BA FCA (Senior Statutory Auditor)

for and on behalf of Darnells Audit Limited

Quay House

Quay Road

Newton Abbot

Devon

TQ12 2BU

23 September 2025

TURNOVER

3

7,238,861

6,777,646

Cost of sales

4,618,399

4,400,133

GROSS PROFIT

2,620,462

2,377,513

Administrative expenses

1,292,241

1,238,071

1,328,221

1,139,442

Other operating income

133,477

85,126

OPERATING PROFIT

5

1,461,698

1,224,568

Interest receivable and similar income

6

7,552

20,366

1,469,250

1,244,934

Interest payable and similar expenses

7

203,018

158,518

PROFIT BEFORE TAXATION

1,266,232

1,086,416

Tax on profit

8

271,660

152,055

PROFIT FOR THE FINANCIAL YEAR

994,572

934,361

Retained earnings at beginning of year

2,695,292

2,832,931

Dividends

9

(834,967

)

(1,072,000

)

RETAINED EARNINGS AT END OF YEAR

2,854,897

2,695,292

FIXED ASSETS

Intangible assets

10

103,496

113,626

Tangible assets

11

5,293,483

5,154,700

5,396,979

5,268,326

CURRENT ASSETS

Stocks

12

17,012

17,012

Debtors

13

254,636

258,956

Cash at bank

535,281

1,091,082

806,929

1,367,050

CREDITORS

Amounts falling due within one year

14

1,270,242

1,006,411

NET CURRENT (LIABILITIES)/ASSETS

(463,313

)

360,639

TOTAL ASSETS LESS CURRENT LIABILITIES

4,933,666

5,628,965

CREDITORS

Amounts falling due after more than one year

15

(1,812,648

)

(2,664,540

)

PROVISIONS FOR LIABILITIES

18

(266,021

)

(269,033

)

NET ASSETS

2,854,997

2,695,392

CAPITAL AND RESERVES

Called up share capital

19

100

100

Retained earnings

20

2,854,897

2,695,292

SHAREHOLDERS' FUNDS

2,854,997

2,695,392

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

Miss M E Broyd - Director

1.	STATUTORY INFORMATION

Golfhill Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page. The company's principal trading address is Three Corners Nursing Home, 3 Greenway Road, Galmpton, Brixham, Devon, TQ5 0LW.

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.

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 £1.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and

disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest

income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair

value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss,

reconciliation of opening and closing number and weighted average exercise price of share options,

how the fair value of options granted was measured, measurement and carrying amount of liabilities

for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Societa' Di

Investimenti Dell' Impresa Sociale, SPA. These consolidated financial statements are available from its

registered office at Via Boccaccio Giovanni 96 35128 Padova, Italy.

Critical accounting judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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.

Turnover

Turnover represents amounts derived from the provision of residential care services falling within the company's principal activities. Revenue is recognised when the amount of revenue can be measured reliably, it is possible that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 1996, 2013 and 2022 is amortised over their estimated useful lives of 10 years.

Trademarks

Trademarks are initially measured at cost. After initial recognition, trademarks are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are bring amortised evenly over their estimate useful life of 5 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 provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Freehold property - 2% on cost

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 20% on reducing balance

Stocks

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

Financial instruments

The company holds the following financial instruments:

- Short term trade and other debtors and creditors;

- Short term intra group debtors and creditors; and

- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Basic financial assets comprise short term trade and other debtors, short term intra group debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors and short term intra group creditors. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3.

TURNOVER

Turnover represents amounts derived from the provision of residential care services falling within the company's principal activities.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

4,128,282

3,920,604

Social security costs

345,224

312,075

Other pension costs

96,502

93,674

4,570,008

4,326,353

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

31.12.24

31.12.23

Directors

2

2

Managers

7

7

Administration

4

4

Nursing/Other

157

151

170

164

31.12.24

31.12.23

£

£

Directors' remuneration

192,600

170,962

The company paid £2,257 (2023: £1,620) into defined contribution pension schemes on behalf of the directors.

5.	OPERATING PROFIT

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

31.12.24

31.12.23

£

£

Hire of plant and machinery

59,084

58,573

Other operating leases

10,641

12,118

Depreciation - owned assets

158,483

138,839

Depreciation - assets on hire purchase contracts

3,797

4,747

Goodwill amortisation

13,500

13,499

Trademark amortisation

842

-

Auditors' remuneration

16,800

19,320

Foreign exchange differences

(133,477

)

(85,126

)

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.12.24

31.12.23

£

£

Deposit account interest

7,552

20,366

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank loan interest

203,018

158,518

8.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

274,672

142,536

Deferred tax

(3,012

)

9,519

Tax on profit

271,660

152,055

Reconciliation of total tax charge included in profit and loss

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

31.12.24

31.12.23

£

£

Profit before tax

1,266,232

1,086,416

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

316,558

271,604

Effects of:

Capital allowances in excess of depreciation

(23,866

)

(1,294

)

Adjustments to tax charge in respect of previous periods

-

(7,803

)

Group relief

(18,020

)

(110,515

)

Impact of change in tax rate

-

(9,456

)

Deferred tax

(3,012

)

9,519

Total tax charge

271,660

152,055

The company received the benefit of tax losses surrendered by other group companies reducing corporation tax payable by £18,020. No payment is to be made to the company surrendering the loss.

9.

DIVIDENDS

31.12.24

31.12.23

£

£

Ordinary shares of £1 each

Interim

834,967

1,072,000

10.	INTANGIBLE FIXED ASSETS

Goodwill

Trademark

Totals

£

£

£

COST

At 1 January 2024

423,000

-

423,000

Additions

-

4,212

4,212

At 31 December 2024

423,000

4,212

427,212

AMORTISATION

At 1 January 2024

309,374

-

309,374

Amortisation for year

13,500

842

14,342

At 31 December 2024

322,874

842

323,716

NET BOOK VALUE

At 31 December 2024

100,126

3,370

103,496

At 31 December 2023

113,626

-

113,626

11.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

4,868,999

1,191,285

57,530

6,117,814

Additions

37,261

251,702

12,100

301,063

At 31 December 2024

4,906,260

1,442,987

69,630

6,418,877

DEPRECIATION

At 1 January 2024

203,048

735,238

24,828

963,114

Charge for year

11,771

141,549

8,960

162,280

At 31 December 2024

214,819

876,787

33,788

1,125,394

NET BOOK VALUE

At 31 December 2024

4,691,441

566,200

35,842

5,293,483

At 31 December 2023

4,665,951

456,047

32,702

5,154,700

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

37,085

DEPRECIATION

At 1 January 2024

18,098

Charge for year

3,797

At 31 December 2024

21,895

NET BOOK VALUE

At 31 December 2024

15,190

At 31 December 2023

18,987

12.

STOCKS

31.12.24

31.12.23

£

£

Stocks

17,012

17,012

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

57,448

33,239

Other debtors

26,832

56,884

Prepayments and accrued income

170,356

168,833

254,636

258,956

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 16)

5,850

5,850

Trade creditors

30,176

36,088

Amounts owed to group undertakings

-

7,234

Corporation tax

62,172

150,338

Social security and other taxes

103,607

102,943

Bank loans

723,200

379,149

Accrued expenses

345,237

324,809

1,270,242

1,006,411