REGISTERED NUMBER: 08115318 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 28th February 2025

for

Ian Coley Sporting Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Cash Flow Statement

8

Notes to the Cash Flow Statement

9

Notes to the Financial Statements

10

DIRECTORS:

I J Coley MBE

A H W V Murray

G L Stephenson

A C Bromfield

SECRETARY:

H C Parker

REGISTERED OFFICE:

25 High Street

Hungerford

Berkshire

RG17 0NF

REGISTERED NUMBER:

08115318 (England and Wales)

AUDITORS:

James Cowper Kreston Audit

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB

The directors present their report with the financial statements of the company for the year ended 28th February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of being agents for sporting events, the operation of a shooting ground and school and the retail sale of firearms and associated accessories.

DIVIDENDS

During the year dividends of £nil (2024 - £nil) were paid to the shareholder.

DIRECTORS

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

I J Coley MBE

A H W V Murray

G L Stephenson

A C Bromfield

DIRECTORS' RESPONSIBILITIES STATEMENT

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;

-	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, James Cowper Kreston Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

H C Parker - Secretary

13th August 2025

Opinion

We have audited the financial statements of Ian Coley Sporting Limited (the 'company') for the year ended 28th February 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 28th February 2025 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 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 Directors' Responsibilities Statement set out on page two, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

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

- Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations;

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

- Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

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.

Darren O’Connor BSc (Hons), FCCA, ACA (Senior Statutory Auditor)

for and on behalf of James Cowper Kreston Audit

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB

13th August 2025

TURNOVER

5,066,152

4,607,014

Cost of sales

3,547,768

3,290,521

GROSS PROFIT

1,518,384

1,316,493

Administrative expenses

1,431,195

1,202,940

OPERATING PROFIT

4

87,189

113,553

Interest receivable and similar income

5,855

6,452

93,044

120,005

Interest payable and similar expenses

5

1,793

-

PROFIT BEFORE TAXATION

91,251

120,005

Tax on profit

6

55,988

6,910

PROFIT FOR THE FINANCIAL YEAR

35,263

113,095

OTHER COMPREHENSIVE INCOME

Revaluation of Land and Property

-

(484,995

)

Income tax relating to other comprehensive income

-

79,275

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

(405,720

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

35,263

(292,625

)

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

2,832,306

2,866,783

2,832,306

2,866,783

CURRENT ASSETS

Stocks

9

2,350,568

2,246,792

Debtors: amounts falling due within one year

10

170,976

80,008

Cash in hand

296,292

359,667

2,817,836

2,686,467

CREDITORS

Amounts falling due within one year

11

1,875,964

1,849,300

NET CURRENT ASSETS

941,872

837,167

TOTAL ASSETS LESS CURRENT LIABILITIES

3,774,178

3,703,950

PROVISIONS FOR LIABILITIES

13

43,576

8,611

NET ASSETS

3,730,602

3,695,339

CAPITAL AND RESERVES

Called up share capital

14

2

2

Retained earnings

15

3,730,600

3,695,337

SHAREHOLDERS' FUNDS

3,730,602

3,695,339

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2025 and were signed on its behalf by:

A H W V Murray - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st March 2023

2

3,604,120

383,842

3,987,964

Changes in equity

Total comprehensive income

-

91,217

(383,842

)

(292,625

)

Balance at 29th February 2024

2

3,695,337

-

3,695,339

Changes in equity

Total comprehensive income

-

35,263

-

35,263

Balance at 28th February 2025

2

3,730,600

-

3,730,602

Cash flows from operating activities

Cash generated from operations

1

13,272

1,580,468

Interest paid

(1,793

)

-

Net cash from operating activities

11,479

1,580,468

Cash flows from investing activities

Purchase of tangible fixed assets

(80,709

)

(1,687,505

)

Sale of tangible fixed assets

-

32,944

Interest received

5,855

6,452

Net cash from investing activities

(74,854

)

(1,648,109

)

Decrease in cash and cash equivalents

(63,375

)

(67,641

)

Cash and cash equivalents at beginning of year

2

359,667

427,308

Cash and cash equivalents at end of year

2

296,292

359,667

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

2025

2024

£

£

Profit before taxation

91,251

120,005

Depreciation charges

115,185

113,469

Profit on disposal of fixed assets

-

(18,614

)

Finance costs

1,793

-

Finance income

(5,855

)

(6,452

)

202,374

208,408

(Increase)/decrease in stocks

(103,776

)

102,106

(Increase)/decrease in trade and other debtors

(90,968

)

975,921

Increase in trade and other creditors

5,642

294,033

Cash generated from operations

13,272

1,580,468

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28th February 2025

28/2/25

1/3/24

£

£

Cash and cash equivalents

296,292

359,667

Year ended 29th February 2024

29/2/24

1/3/23

£

£

Cash and cash equivalents

359,667

427,308

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/24

Cash flow

At 28/2/25

£

£

£

Net cash

Cash at bank and in hand

359,667

(63,375

)

296,292

359,667

(63,375

)

296,292

Total

359,667

(63,375

)

296,292

1.	STATUTORY INFORMATION

Ian Coley Sporting 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following have had the most significant effect on amounts recognised in the financial statements:

a) Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors.

b) Bad debt provisions

Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.

c) Stock provisions

Provisions are estimated by the company in respect of specific stocks based upon the age of the stock and knowledge of known issues.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and value added taxes.

Turnover

Turnover represents the invoice value of goods, fees and commissions earned by the company and recognised within the period to which the income is earned with an appropriate proportion of income deferred to the following period, according to the date of delivery, event date or the date of departure.

A significant amount of the Company's transactions relate to events or goods which are delivered at a future date. In such cases the revenue relating to such transactions is recorded in deferred income and associated expenses are recorded in deferred costs. Once the event has taken place or the goods have been despatched the turnover and cost of sale is recognised by transferring the respective balances from deferred income and deferred costs.

When sales revenue is recognised but the costs relating to the sale have yet to be completed the full cost of sale is recorded with any outstanding amount accounted for within trading cost accruals in the balance sheet.

Interest income

Interest income is recognised using the effective interest rate method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Freehold property

Freehold property comprises freehold land and is stated at cost plus revalued amounts less accumulated impairment losses. Freehold land is not depreciated

Improvements to property

Improvements to property comprise the freehold property on the site of the shooting school and is stated at cost plus revalued amounts less accumulated depreciation and accumulated impairment losses.

Fixtures and fittings, motor vehicles and computer equipment

Fixtures and fittings, motor vehicles and computer equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation and residual values

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:

Freehold land

nil

Freehold buildings

100 years

Improvements to property

between 8 and 30 years

Fixtures and fittings

between 5 and 15 years

Motor vehicles

between 3 and 5 years

Computer equipment

between 3 and 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Subsequent additions

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is disposed.

Repairs and maintenance are charged to administrative expenses in the period in which they are incurred.

Subsequent disposals

Assets which, in the opinion of the management, have come to the end of their useful lives are disposed of. Gains and losses on disposed assets are entered' in the income statement and shown in the operating profit/(loss) disclosure.

Stocks

Stock comprises firearms, ammunition and other associated accessories.

Stock is stated at the lower of cost and estimated selling price. Stock is recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price including taxes and duties, transport and handling directly attributable to bringing the inventory to its present location and condition.

At the end of each reporting period stock is assessed for impairment. If an item of stock is found to be impaired, it is reduced to its selling price and an impairment charge is recognised as an additional cost of sale in the income statement.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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

The Companies functional and presentational currency is GBP.

Transactions and balances

Transactions denominated in foreign currencies are recorded at the rate ruling on the transaction date

Monetary items denominated in foreign currencies are translated at the rate of exchange ruling at the period end date. Non-monetary items measured as historical cost are translated using the exchange rate at the date of the transaction and non-monetary items valued at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the period end revaluation of monetary items are recognised in administrative expenses in the statement of comprehensive income and disclosed within the operating profit note.

Employee benefits

The company provides a range of benefits to employees, including a private healthcare scheme, paid holiday arrangements, a defined contribution pension plan and an annual bonus arrangement.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period that the service is received.

Other monetary benefits

Other monetary benefits are recognised as an expense as they are due and healthcare benefits are recognised as an expense which is amortised over the term of the policy and any deferred expenditure is included in prepayments in the balance sheet.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense as they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Bonus arrangements

The company operates a discretionary bonus arrangement for employees. An expense is recognised in the income statement when the management of the company approve the payments under the scheme.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

738,285

684,907

Social security costs

70,081

63,788

Other pension costs

37,419

33,673

845,785

782,368

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

2025

2024

Administrative

18

18

2025

2024

£

£

Directors' remuneration

142,949

120,945

Directors' pension contributions to money purchase schemes

9,191

8,753

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

The directors are the key management personnel.

4.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

115,186

100,826

Profit on disposal of fixed assets

-

(18,614

)

Goodwill amortisation

-

12,643

Auditors' remuneration

7,900

7,500

Foreign exchange differences

-

4

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest

1,793

-

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

21,023

-

Deferred tax

34,965

6,910

Tax on profit

55,988

6,910

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:

2025

2024

£

£

Profit before tax

91,251

120,005

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

22,813

30,001

Effects of:

Expenses not deductible for tax purposes

363

347

Capital allowances in excess of depreciation

(2,153

)

(72,964

)

Utilisation of tax losses

-

(22,302

)

Movement in deferred tax

34,965

6,910

Group relief surrendered

-

64,918

income

Total tax charge

55,988

6,910

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 28th February 2025.

2024

Gross

Tax

Net

£

£

£

Revaluation of Land and Property

(484,995

)

79,275

(405,720

)

7.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st March 2024

172,260

Disposals

(172,260

)

At 28th February 2025

-

AMORTISATION

At 1st March 2024

172,260

Eliminated on disposal

(172,260

)

At 28th February 2025

-

NET BOOK VALUE

At 28th February 2025

-

At 29th February 2024

-

The goodwill arises from the difference between the fair value and the net book value of the trade assets acquired by the Company from Ian Coley Shooting LLP in 2012.

8.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

Computer

property

property

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1st March 2024

403,070

2,470,967

763,421

45,282

3,682,740

Additions

-

23,950

51,520

5,239

80,709

Disposals

-

-

(126,675

)

(7,757

)

(134,432

)

At 28th February 2025

403,070

2,494,917

688,266

42,764

3,629,017

DEPRECIATION

At 1st March 2024

-

274,037

510,858

31,062

815,957

Charge for year

-

47,869

63,227

4,090

115,186

Eliminated on disposal

-

-

(126,675

)

(7,757

)

(134,432

)

At 28th February 2025

-

321,906

447,410

27,395

796,711

NET BOOK VALUE

At 28th February 2025

403,070

2,173,011

240,856

15,369

2,832,306

At 29th February 2024

403,070

2,196,930

252,563

14,220

2,866,783

Included in cost or valuation of land and buildings is freehold land of £ 403,070 (2024 - £ 403,070 ) which is not depreciated.