REGISTERED NUMBER: 04860112 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Sirius Remediation Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

M J Powell

P E Kane

S Robinson

SECRETARY:

S Robinson

REGISTERED OFFICE:

Russel House

Mill Road

Langley Moor

Durham

Co. Durham

DH7 8HJ

REGISTERED NUMBER:

04860112 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

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

REVIEW OF BUSINESS

Sirius Engineering Group is a design & build enabling works specialist delivering fully integrated ground engineering services to the development sector.

The Group via its subsidiaries delivers a full range of integrated pre-construction services to facilitate and enable the development of both brownfield and greenfield land.

Operating across the United Kingdom from regional offices in Durham, Leeds, Warrington and Llanelli its contracting services include Demolition, Earthworks. Remediation, Drilling and Civil Engineering all supported by a cutting-edge Plant and Technologies division.

As consultants, Sirius also provides specialist Geotechnical, Environmental and Planning professional services.

This unique combination of services provides its clients with confidence to build on even the most complex and challenging sites, often on a design & build basis.

Operating since 2003, Sirius has developed a large, highly stable, repeat-business client base across several principal sectors including residential, commercial and retail development, waste management and renewable energy.

Sirius Remediation Limited is one of the largest subsidiaries in the group, offering a full range of essential site enabling, bulk earthworks, soil and groundwater remediation and ground engineering solutions.

The ability to also delivery primary infrastructure in combination with initial earthworks or remediation works is a key differentiator for the business (in conjunction with Sirius Group companies) and can assist in delivering significant cost and programme savings for its clients.

The results for the year and the financial position of the company are set out on pages 9 to 22.

Key Performance Indicators:

The Company's KPIs for the year were:

2024

2023

£'000s

£'000s

Turnover

19,440

18,770

Gross Profit %

24.4%

18.2%

Sirius Remediation Limited recorded turnover growth of 4% in 2024 and a strong, improving profitability position.

The first half of the year saw the business continue to be impacted by the macroeconomic headwinds from 2023, higher inflation, higher mortgage costs and lower levels of consumer confidence suppressing housing market activity. Despite these pressures, regional performance varied. The North-East demonstrated notable resilience, maintaining steady demand while other areas experienced more volatility.

As the year progressed, conditions started to improve, inflation reduced and mortgage rates started to decline, leading to a notable uplift in market confidence and demand. The final quarter of 2024 showed strong signs of recovery, leading to a busy end to the year and a full order book heading into 2025 which is already proving to be a strong year for both the business and the wider group. The group is in a strong position to benefit from this upturn with a strong balance sheet, cutting edge plant fleet and an experienced, skilled workforce.

The government pledged in June 2024 to "get Britain building again" with a target of 1.5m houses in the coming 5 years. The UK remains chronically short of new housing stock and so the long-term fundamentals of our key market remain strong.

Whilst our key market remains housebuilding, part of our strategic plan is a commitment to leverage the experience of the group into adjacent markets to introduce further diversification into our portfolio. Leveraging the group's wider expertise, we began expanding into adjacent markets-an effort that is now gaining real momentum as we move through 2025.

Employee Ownership

2023 was a key milestone in the history of the group. To coincide with it's 20th Anniversary, the group transitioned to becoming a 100% Employee-Owned business on the 17th October 2023. This allows for a long-term succession plan that secures the future of the group into the hands of the people who have helped to build it over the years.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company and how they may affect its performance, position or future prospects are set out below:

Health, Safety and Environmental

The Company are subject to health & safety and environmental risks, implicit in the work undertaken. The Board and business unit leads promote a strong health and safety culture underpinned by procedures that are continually assessed to ensure best practice. Ongoing health & safety training is provided to employees and maintained. The group employs 2 full time specialist employees and use external consultants where required to protect the health, safety and welfare of its employees and clients.

Financial Risk Management

In common with other businesses, the company aims to minimize financial risk wherever possible. The measures used include the preparation of budgets and forecasts, regular monitoring of actual performance against these forecasts and ensuring adequate sources of finance are in place to meet the requirement of the business.

The company's principal financial instruments comprise bank balances, hire purchase agreements, trade and subcontract creditors and trade debtors to raise funds for, and finance, the company's operations.

Credit Risk

Amounts receivable relate largely to applications on contracts across our stable customer base. The company has policies concerning credit offered to customers and regularly monitor amounts outstanding for both time and credit limit.

Liquidity Risk

Through negotiation with clients and suppliers we aim to manage our working capital and cash availability within certain limits. Forecasting is undertaken to ensure sufficient funds are available to meet amounts due.

The company has the support of Sirius Engineering Group Limited and will continue to do so for the next 12 months.

ON BEHALF OF THE BOARD:

S Robinson - Director

22 September 2025

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

DIVIDENDS

Dividends totalling £456,504 have been paid to the parent company in the period to 31 December 2024.

RESEARCH AND DEVELOPMENT

During the year the company spent £ Nil (2023: £Nil) on research and development.

FUTURE DEVELOPMENTS

The company continues to develop and expands it client base, area of operation and scope of services provided. The directors consider that the current workload and prospects are reasonable having regard to prevailing market conditions.

DIRECTORS

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

M J Powell

P E Kane

S Robinson

POLITICAL DONATIONS AND EXPENDITURE

No political donations were made by the company during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he 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.

ON BEHALF OF THE BOARD:

S Robinson - Director

22 September 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Auditors' responsibilities for the audit of the financial statements (continued)

Audit procedures performed by the engagement team included:

-

Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.

-

Enquiry of entity staff to identify any instances of non-compliance with 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.

-

Challenging estimates and judgements made by management in their significant accounting estimates.

-

Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognised in the correct period.

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

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

Use of our report

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

Helen Wilson FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

22 September 2025

TURNOVER

3

19,439,977

18,770,000

Cost of sales

14,691,407

15,361,415

GROSS PROFIT

4,748,570

3,408,585

Administrative expenses

3,947,790

3,922,838

OPERATING PROFIT/(LOSS)

800,780

(514,253

)

Interest receivable and similar income

-

102,200

800,780

(412,053

)

Interest payable and similar expenses

5

39,217

77,420

PROFIT/(LOSS) BEFORE TAXATION

6

761,563

(489,473

)

Tax on profit/(loss)

7

198,141

75,901

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

563,422

(565,374

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

563,422

(565,374

)

FIXED ASSETS

Tangible assets

9

228,405

438,416

CURRENT ASSETS

Debtors

10

6,508,254

5,718,505

Cash at bank and in hand

1,983,404

2,068,713

8,491,658

7,787,218

CREDITORS

Amounts falling due within one year

11

3,073,483

2,494,572

NET CURRENT ASSETS

5,418,175

5,292,646

TOTAL ASSETS LESS CURRENT LIABILITIES

5,646,580

5,731,062

CREDITORS

Amounts falling due after more than one year

12

(34,386

)

(185,786

)

PROVISIONS FOR LIABILITIES

15

(44,000

)

(84,000

)

NET ASSETS

5,568,194

5,461,276

CAPITAL AND RESERVES

Called up share capital

16

1,000

1,000

Share premium

17

23,950

23,950

Retained earnings

17

5,543,244

5,436,326

SHAREHOLDERS' FUNDS

5,568,194

5,461,276

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

S Robinson - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

1,000

10,001,700

23,950

10,026,650

Changes in equity

Dividends

-

(4,000,000

)

-

(4,000,000

)

Total comprehensive income

-

(565,374

)

-

(565,374

)

Balance at 31 December 2023

1,000

5,436,326

23,950

5,461,276

Changes in equity

Dividends

-

(456,504

)

-

(456,504

)

Total comprehensive income

-

563,422

-

563,422

Balance at 31 December 2024

1,000

5,543,244

23,950

5,568,194

1.	STATUTORY INFORMATION

Sirius Remediation 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 presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

General information and basis of preparation

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover for the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. Stage of completion is measured by reference to the right to consideration in respect of performance of contractual obligations.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tangible fixed assets

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost and 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Research and development

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

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.

Amounts recoverable on contracts

Amounts recoverable on contracts are stated at cost plus attributable profit to the extent that such profit is reasonably certain and after making provision for any foreseeable losses in completing contracts, less payments on account received.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Judgements and key sources of estimation uncertainty

In the application of the companies accounting policies, which are described above, 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.

The judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that has the most significant effect on the amounts recognised in the financial statements is the stage of completion of contracts and revenue recognition.

The company undertakes a number of long term construction contracts. Accounting for these contracts requires a number of assumptions and estimates to be made in relation to the stage of completion and expected outcome of the contract. Each contract has an expected value and is costed appropriately to give an expected margin. Any future changes to estimates of contract revenue or contract costs resulting in a change to the estimated loss or profit of the contract is regularly reviewed by management to ensure accurate reporting of revenue recognition.

3.

TURNOVER

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

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

2024

2023

£

£

Construction contracts

19,439,977

18,770,000

19,439,977

18,770,000

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,686,065

4,824,155

Social security costs

527,794

502,635

Other pension costs

494,687

448,037

5,708,546

5,774,827

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

2024

2023

Engineers

35

38

Site operatives

59

65

Administration

5

6

99

109

The average number of employees has been updated to reflect the wage costs transfers in the year between the group and related party companies. Total transfers to Sirius Remediation Limited amount to £388,915 (2023 : £382,039) and amounts transferred from Sirius Remediation Limited amount to £699,385 (2023 : £760,339). This equates to a reduction in employee numbers of 6 in the year (2023 : 7).

2024

2023

£

£

Directors' remuneration

-

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Other interest

39,217

77,420

6.	PROFIT/(LOSS) BEFORE TAXATION

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

2024

2023

£

£

Plant and equipment hire

3,847,763

4,047,202

Depreciation - owned assets

15,443

40,097

Depreciation - assets on hire purchase contracts

130,699

140,751

Profit on disposal of fixed assets

-

(15,192

)

Auditors remuneration

27,500

22,400

Land & buildings - leased

75,000

75,000

Land & buildings - leased (recharged)

(44,140

)

(44,140

)

7.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

236,000

-

Overprovision in prior year

2,141

(599

)

Total current tax

238,141

(599

)

Deferred taxation

(40,000

)

76,500

Tax on profit/(loss)

198,141

75,901

Reconciliation of total tax charge included in profit and loss

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

2024

2023

£

£

Profit/(loss) before tax

761,563

(489,473

)

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

190,391

(122,368

)

Effects of:

Expenses not deductible for tax purposes

3,894

4,472

Capital allowances in excess of depreciation

-

(75,628

)

Depreciation in excess of capital allowances

1,219

-

Group relief

-

201,090

Deferred taxation rounding differences

230

-

Corporation tax rounding differences

267

-

Prior year overprovision

2,140

(599

)

Tax losses carried forward

-

1,172

Pension creditor movement

-

(8,738

)

Deferred tax

-

76,500

Total tax charge

198,141

75,901

8.

DIVIDENDS

2024

2023

£

£

Final

456,504

4,000,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

79,825

95,219

699,484

227,214

1,101,742

Additions

-

-

-

5,815

5,815

Disposals

-

-

(69,684

)

-

(69,684

)

At 31 December 2024

79,825

95,219

629,800

233,029

1,037,873

DEPRECIATION

At 1 January 2024

79,824

95,218

277,538

210,746

663,326

Charge for year

-

-

136,625

9,517

146,142

At 31 December 2024

79,824

95,218

414,163

220,263

809,468

NET BOOK VALUE

At 31 December 2024

1

1

215,637

12,766

228,405

At 31 December 2023

1

1

421,946

16,468

438,416

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

Motor

vehicles

£

COST

At 1 January 2024

562,035

Disposals

(69,684

)

At 31 December 2024

492,351

DEPRECIATION

At 1 January 2024

146,520

Charge for year

130,699

At 31 December 2024

277,219

NET BOOK VALUE

At 31 December 2024

215,132

At 31 December 2023

415,515