Portobello RMF Engineering Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 04042438 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Portobello RMF Engineering Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Independent Auditors' Report

6

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Dr T P Broadbent

Mr G Avill

Mr D M Churm

Mr J L Housley

SECRETARIES:

Mr J L Housley

Ms T A Smallman

REGISTERED OFFICE:

3 Long Acre Close

Holbrook

Sheffield

South Yorkshire

S20 3FR

REGISTERED NUMBER:

04042438 (England and Wales)

AUDITORS:

Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

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

REVIEW OF BUSINESS

Portobello RMF Engineering Limited is a wholly owned subsidiary of Portobello RMF Engineering Holdings Ltd, which is 100% owned by the Portobello RMF Engineering Employee Ownership Trust.

The continued management structure is working effectively with the employees supporting the Directors.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors actively monitor pricing and contract management on a regular basis to ensure accuracy, competitiveness and to consider market fluctuations.

Rigorous credit control procedures and appropriate credit insurance are undertaken to mitigate the financial risks which the Company may be exposed to from non-payment by clients.

Health and safety and employee welfare continue to be a high priority. The Company employs a dedicated QAHSE Engineer and a Health & Safety Consultant who are highly qualified to monitor, oversee and implement procedures. The company maintains the ISO 45001:2018 accreditation, enhancing our dedication to providing a safe environment for all.

The Company has achieved ASME U Stamp certification, an accreditation held in previous years, which will now allow the export of equipment to the USA. The Company foresees extensive opportunities within the pharmaceutical industry.

The Company is committed to employee enhancement and retention. The Company has invested in management training and continues to work with local educational establishments to employ apprentices and/or trainees to ensure a continuation of skilled and experienced employees for the future.

DEVELOPMENT AND PERFORMANCE

2024 did see an increase in turnover, primarily due to specialist projects that the Company was successful in securing. The Company's profit for 2024 has also increased from the previous year, again primarily due to specialist projects.

Turnover: £9,054,199 (2023 - £8,527,787)

Profit before tax: £973,593 (2023 - £839,437)

The Company continues to be successful in broadening its client base into new market sectors and is less dependent on the Oil & Gas and Petrochemical industry. The Company sees this continuing into 2025 with significant orders already received for the Subsea and Defence industries.

Portobello-RMF continues to experience a high degree of customer loyalty and satisfaction. The Company prides itself on maintaining good working relationships with both customers and suppliers.

The Company maintains and works to the Quality standard ISO 9001:2015, ISO 3834-2, Lloyds Rules Class 1 for Submersibles and Diving Systems, and Cyber Essentials.

STRATEGY

The Company's success will continue to depend on the selection, pricing and management of contracts.

The Company will continue to target new clients both in the UK and Internationally.

Portobello-RMF has no borrowings, and the Directors prudently manage cashflow, credit control and insurance.

FUTURE DEVELOPMENTS

Future developments of the Company will maintain progression within sectors such as Defence, Marine, Hydrogen and Carbon Capture, all of which require specific approvals that the Company will look to obtain.

The Company plans to obtain accreditations in DNV Rules for UWT and Cyber Essentials Plus, further expanding our commitment to Cyber Security and Quality equipment supply for the Subsea, Marine and Defence sectors.

The Directors will continue to monitor the economic situation closely to ensure our operations remain efficient.

Together with the Company's strong balance sheet with no external borrowings, the Company remains confident of taking advantage of the new market sectors and is expecting a successful 2025.

ON BEHALF OF THE BOARD:

Mr J L Housley - Director

24 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 the design and manufacture of process plant equipment and high integrity fabrications in materials ranging from Carbon Steel, Stainless Steel, Nickel Alloys, Titanium, Zirconium and Tantalum.

DIRECTORS

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

Dr T P Broadbent

Mr G Avill

Mr D M Churm

Mr J L Housley

Other changes in directors holding office are as follows:

Mr A D Hibbins - resigned 12 March 2024

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

The auditors, Harris & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr J L Housley - Director

24 September 2025

Opinion

We have audited the financial statements of Portobello RMF Engineering Ltd (the 'Company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, 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 Auditors' Report 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; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

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

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

Enquiring of management, including obtaining and reviewing supporting documentation, concerning
the company's policies and procedures relating to:

-

Identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;

-

Detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;

-

The internal controls established to mitigate risk related to fraud or non-compliance with laws &
regulations;

-

Obtaining an understanding of the legal and regulatory frameworks that the company operates in,
focusing on those laws and regulations that had a direct effect on the financial statements or that had a
fundamental effect on the operations of the company. The key laws and regulations we considered in
this context included, but were not limited to, Companies Act 2006, UK tax legislation, employment,
pension and health and safety regulation, data protection and anti bribery regulation.

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 Auditors' Report.

Other matters which we are required to address

Our procedures to respond to risks identified included the following:

-

Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with relevant laws and regulations;

-

Enquiring of management concerning actual and potential litigation and claims;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate
risk of material misstatement due to fraud; and

-

In addressing the risk of fraud through management override of controls, testing the appropriateness
of journal entries and other adjustments; assessing the judgements used in accounting estimates to
assess whether these may be indicative of potential bias; and evaluating the business rationale of any
significant transactions that are unusual or outside the normal course of business.

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

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 an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tom Garner CA CTA (Senior Statutory Auditor)

for and on behalf of Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

24 September 2025

TURNOVER

9,054,199

8,527,787

Cost of sales

6,851,696

6,641,173

GROSS PROFIT

2,202,503

1,886,614

Administrative expenses

1,264,675

1,061,363

937,828

825,251

Other operating income

15,720

4,300

OPERATING PROFIT

953,548

829,551

Interest receivable and similar income

20,764

10,580

974,312

840,131

Interest payable and similar expenses

719

694

PROFIT BEFORE TAXATION

973,593

839,437

Tax on profit

183,342

197,984

PROFIT FOR THE FINANCIAL YEAR

790,251

641,453

FIXED ASSETS

Intangible assets

5

-

Tangible assets

6

397,106

214,835

397,106

214,835

CURRENT ASSETS

Stocks

45,575

55,598

Debtors

7

3,478,898

2,660,194

Cash at bank and in hand

1,519,992

1,925,532

5,044,465

4,641,324

CREDITORS

Amounts falling due within one year

8

3,843,876

3,968,299

NET CURRENT ASSETS

1,200,589

673,025

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,597,695

887,860

CREDITORS

Amounts falling due after more than one
year

9

(5,959

)

(8,857

)

PROVISIONS FOR LIABILITIES

(74,224

)

(51,742

)

NET ASSETS

1,517,512

827,261

CAPITAL AND RESERVES

Called up share capital

11

1

Retained earnings

1,517,511

827,260

SHAREHOLDERS' FUNDS

1,517,512

827,261

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr J L Housley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 January 2023

1

1,235,807

1,235,808

Changes in equity

Dividends

-

(1,050,000

)

(1,050,000

)

Total comprehensive income

-

641,453

Balance at 31 December 2023

1

827,260

827,261

Changes in equity

Dividends

-

(100,000

)

(100,000

)

Total comprehensive income

-

790,251

Balance at 31 December 2024

1

1,517,511

1,517,512

1.	STATUTORY INFORMATION

Portobello RMF Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention.

Going concern

At the time of approving the financial statements, the directors have prepared forecasts and considered other events, and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Portobello RMF Engineering Ltd as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Useful lives and impairment of fixed assets

The annual depreciation charge for tangible assets and their carrying amount is determined by the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually and amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Long-term contracts

Management use their knowledge and experience to estimate the expected fabrication and other costs by contract. These estimates have a direct impact on the revenues, costs, debtors and creditors balances associated with accounting for contracts.

Turnover

Turnover represents the value of work carried out during the year including amounts not invoiced in respect of contracting activities (stated net of value added tax).

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 reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

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

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. Fabrication costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract fabrication costs incurred for work performed to date compared to the estimated total contract fabrication costs. Fabrication costs incurred in the year in connection with future activity on a contract are excluded from contract fabrication costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Goodwill

Goodwill is written off over its estimated useful life. The goodwill has been fully amortised.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

Between 5% & 20% on cost straight line

Fixtures and fittings

-

Between 10% & 50% on cost straight line

Computer equipment

-

Between 14% & 25% on cost straight line

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of Financial Liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic Financial Liabilities

Basic financial liabilities, including creditors, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 46 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2024

and 31 December 2024

105,500

39,830

145,330

AMORTISATION

At 1 January 2024

and 31 December 2024

105,500

39,830

145,330

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 January 2024

1,305,688

223,385

101,752

1,630,825

Additions

187,476

7,443

54,442

249,361

At 31 December 2024

1,493,164

230,828

156,194

1,880,186

DEPRECIATION

At 1 January 2024

1,138,107

195,858

82,025

1,415,990

Charge for year

53,486

4,002

9,602

67,090

At 31 December 2024

1,191,593

199,860

91,627

1,483,080

NET BOOK VALUE

At 31 December 2024

301,571

30,968

64,567

397,106

At 31 December 2023

167,581

27,527

19,727

214,835

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

1,952,825

704,563

Other debtors

1,526,073

1,955,631

3,478,898

2,660,194

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts

2,860

2,840

Trade creditors

1,043,871

982,423

Amounts owed to group undertakings

271,786

509,759

Taxation and social security

447,648

319,072

Other creditors

2,077,711

2,154,205

3,843,876

3,968,299

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Hire purchase contracts

5,959

8,857

10.	SECURED DEBTS

The hire purchase liabilities are secured upon the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1

Ordinary

1