REGISTERED NUMBER: 02914950 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

THE WATERSIDE HOTEL AND GALLEON LEISURE

CLUB LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

Directors:

J R Lyne

S J Ryan

Registered office:

Wilmslow Road

Didsbury

Manchester

M20 5WZ

Registered number:

02914950 (England and Wales)

Auditors:

S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

The principal activity of the company was the provision of hotel and leisure facilities at the Waterside Hotel and Galleon Leisure Club, Didsbury, Manchester.

Review of business

We continue to experience good trading conditions at the top line level and our key performance indicators of member numbers, hotel occupancy and EBITDA remain strong.

Like most service sector businesses, we continue to face challenges posed by people (availability and associated wage costs) together with increased utility costs. The power sector seems to be reaching a point of comparative stability and our costs will reduced accordingly in line with our long term power agreements.

Liquidity risk

Liquidity risk arises from the company's management of working capital, loan facilities and the finance charges on its debt and being able to pay them as they fall due. To ensure that the company always has sufficient cash to meet its liabilities, it seeks to maintain cash balances to meet expected requirements by performing detailed cash flow forecasts and monitoring this monthly.

Price risk

Other than employment related costs, the company is most exposed to price movements on energy usage. With the introduction of a CHP plant several years ago, we are more reliant on gas than electricity. After recent significant fluctuations in the energy markets, prices have moderated and we are currently investigating renewals of fixed price energy contracts (both gas and electricity).

Inflation risk

The company is subject to the same supply side inflationary pressures as most businesses at the moment. We take steps to review regularly our supply prices and always seek multiple prices for a product or project.

The company is also exposed to changes in the national living wage; any changes to this wage are well anticipated by the directors.

On behalf of the board:

S J Ryan - Director

25 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 provision of hotel and leisure facilities at the Waterside Hotel and Galleon Leisure Club, Didsbury, Manchester.

Dividends

No dividends will be distributed for the year ended 31 December 2024.

Events since the end of the year

On 1 January 2025, the company experienced a flood in their premises. This caused disruptions to operations for the first quarter of the year. There were various assets that were significantly damaged as a result of the flood and have subsequently been scrapped. There was insurance policies in place and at the time of the flood which has mitigated the financial impact.

The company has recovered their operations to a level similar to that before the flood occurred.

Directors

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

J R Lyne

S J Ryan

Going concern

The company has a loan balance that is due to mature in September 2026. The loan balance is £10,568,974. There has been no formal agreements entered in to with the loan provider to extend, or restructure the debt. The directors are confident that the support from the bank will continue and they will not call the debt as it falls due. The directors have begun assessing their options available should the bank call the loan as it falls due and they have not formalised any plans for this matter. The directors acknowledge that these conditions indicate that a material uncertainty exists that may cast significant doubt on the company's abilities to continue as a going concern.

However, based on the assessments performed and the directors' confidence the bank will continue to be supportive, the directors have a reasonable expectation that the business has sufficient resources to operate for a period of at least 12 months from the date of signing these financial statements and that it is appropriate for the financial statements to be prepared on a going concern basis. The financial statements do not include the adjustments that would be necessary should the going concern basis of preparation no longer be appropriate.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

On behalf of the board:

S J Ryan - Director

25 September 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss 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.

Material uncertainty related to going concern

We draw attention to the basis of preparation in note 3 the financial statements, which indicates that the company has a significant bank loans which are repayable in September 2026. The company has a loan balance that is due to mature in September 2026. The loan balance is £10,568,974. There has been no formal agreements entered in to with the loan provider to extend, or restructure the debt. The directors are confident that the support from the bank will continue and they will not call the debt as it falls due. The directors have begun assessing their options available should the bank call the loan as it falls due and they have not formalised any plans for this matter. The directors acknowledge that these conditions indicate that a material uncertainty exists that may cast significant doubt on the company's abilities to continue as a going concern.

Notwithstanding the above, 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.

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

Other information

The other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the 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 three, 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:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Identifying and testing journal entries posted with unusual account combinations;

- Testing a sample of till receipts and ensured that the monies received have been correctly recognised with revenue, and testing income to third party confirmations and ensured that the income was complete; and

- Assessing the extent of compliance with relevant laws and regulations.

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.

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.

Antony Sassen (Senior Statutory Auditor)

for and on behalf of S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

26 September 2025

Turnover

4

5,780,955

5,511,269

Cost of sales

(2,568,276

)

(2,352,839

)

Gross profit

3,212,679

3,158,430

Administrative expenses

(2,443,225

)

(2,317,353

)

Operating profit

6

769,454

841,077

Interest payable and similar expenses

7

(775,904

)

(712,733

)

(Loss)/profit before taxation

(6,450

)

128,344

Tax on (loss)/profit

8

(965,657

)

(46,414

)

(Loss)/profit for the financial year

(972,107

)

81,930

Other comprehensive income

Revaluation

(1,604,970

)

(705,126

)

Income tax relating to other comprehensive income

401,243

176,281

Other comprehensive income for the year, net of income tax

(1,203,727

)

(528,845

)

Total comprehensive income for the year

(2,175,834

)

(446,915

)

Fixed assets

Tangible assets

9

11,556,109

12,954,407

Current assets

Stocks

10

12,742

13,292

Debtors

11

62,678

83,415

Cash at bank and in hand

195,888

245,915

271,308

342,622

Creditors

Amounts falling due within one year

12

1,268,536

11,580,747

Net current liabilities

(997,228

)

(11,238,125

)

Total assets less current liabilities

10,558,881

1,716,282

Creditors

Amounts falling due after more than one year

13

(10,689,509

)

(235,490

)

Provisions for liabilities

17

(1,076,462

)

(512,048

)

Net (liabilities)/assets

(1,207,090

)

968,744

Capital and reserves

Called up share capital

18

15,000

15,000

Revaluation reserve

19

4,149,791

5,353,518

Retained earnings

19

(5,371,881

)

(4,399,774

)

Shareholders' funds

(1,207,090

)

968,744

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

S J Ryan - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

15,000

(4,481,704

)

5,882,363

1,415,659

Changes in equity

Total comprehensive income

-

81,930

(528,845

)

(446,915

)

Balance at 31 December 2023

15,000

(4,399,774

)

5,353,518

968,744

Changes in equity

Total comprehensive income

-

(972,107

)

(1,203,727

)

(2,175,834

)

Balance at 31 December 2024

15,000

(5,371,881

)

4,149,791

(1,207,090

)

Cash flows from operating activities

Cash generated from operations

1

1,050,454

1,042,606

Interest paid

(775,904

)

(712,733

)

Net cash from operating activities

274,550

329,873

Cash flows from investing activities

Purchase of tangible fixed assets

(365,489

)

(258,759

)

Sale of tangible fixed assets

-

18,942

Net cash from investing activities

(365,489

)

(239,817

)

Cash flows from financing activities

Capital advances in year

320,908

-

Capital repayments in year

(123,796

)

(198,271

)

Amounts repaid to directors

(156,200

)

(24,000

)

Net cash from financing activities

40,912

(222,271

)

Decrease in cash and cash equivalents

(50,027

)

(132,215

)

Cash and cash equivalents at beginning of year

2

245,915

378,130

Cash and cash equivalents at end of year

2

195,888

245,915

1.	Reconciliation of (loss)/profit before taxation to cash generated from operations

2024

2023

£

£

(Loss)/profit before taxation

(6,450

)

128,344

Depreciation charges

170,818

160,389

Profit on disposal of fixed assets

-

(6,428

)

Finance costs

775,904

712,733

940,272

995,038

Decrease/(increase) in stocks

550

(106

)

Decrease/(increase) in trade and other debtors

20,737

(24,139

)

Increase in trade and other creditors

88,895

71,813

Cash generated from operations

1,050,454

1,042,606

2.	Cash and cash equivalents

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

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

195,888

245,915

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

245,915

378,130

3.	Analysis of changes in net debt

Other

non-cash

At 1/1/24

Cash flow

changes

At 31/12/24

£

£

£

£

Net cash

Cash at bank

and in hand

245,915

(50,027

)

195,888

245,915

(50,027

)

195,888

Debt

Finance leases

(349,292

)

123,796

(12,001

)

(237,497

)

Debts falling due

within 1 year

(10,247,587

)

(7,447

)

10,246,226

(8,808

)

Debts falling due

after 1 year

(20,309

)

(313,461

)

(10,246,226

)

(10,579,996

)

(10,617,188

)

(197,112

)

(12,001

)

(10,826,301

)

Total

(10,371,273

)

(247,139

)

(12,001

)

(10,630,413

)

1.	Statutory information

The Waterside Hotel and Galleon Leisure Club 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.	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" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements cover the individual company.

The financial statements have been prepared on a going concern basis.

The company has a loan balance that is due to mature in September 2026. The loan balance is £10,568,974. There has been no formal agreements entered in to with the loan provider to extend, or restructure the debt. The directors are confident that the support from the bank will continue and they will not call the debt as it falls due. The directors have begun assessing their options available should the bank call the loan as it falls due and they have not formalised any plans for this matter. The directors acknowledge that these conditions indicate that a material uncertainty exists that may cast significant doubt on the company's abilities to continue as a going concern.

However, based on the assessments performed and the directors' confidence the bank will continue to be supportive, the directors have a reasonable expectation that the business has sufficient resources to operate for a period of at least 12 months from the date of signing these financial statements and that it is appropriate for the financial statements to be prepared on a going concern basis. The financial statements do not include the adjustments that would be necessary should the going concern basis of preparation no longer be appropriate.

Significant judgements and estimates

In preparing these financial statements, the directors have had to make the following judgements:

·Determine whether leases entered into by the company either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

·Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash- generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets, other than freehold properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Freehold properties are valued annually by a combination of external valuations and directors. Changes in fair value are recognised in the revaluation reserve.

Deferred tax asset

The company recognises deferred tax assets on carried forward tax losses to the extent there are sufficient estimated future taxable profits which the tax losses can be utilised. A deferred tax asset of £nil (2023 - £962,361) has been recognised. The assessment in the current year is that there is uncertainty that there will be sufficient taxable profits to utilise the tax losses.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive at Value Added Tax and trade discounts.

Membership dues are included in turnover on an accruals basis.

Sales of food and beverage are recognised as turnover on the date of the sale.

The company supplies conference and events facilities as well as hotel rooms to business and private customers. Sales of rooms and conference and event facilities are recognised on the dates those facilities are used. Deposits received in advance are not recognised as turnover until the day of stay or event.

Tangible fixed assets

Tangible fixed assets, other than freehold property, 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.

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 derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Freehold property is subsequently carried at fair value, based on periodic valuations by a professionally qualified valuer. These revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. Changes in fair value are recognised in other comprehensive income and accumulated in the revaluation reserve except to the extent that any decrease in value in excess of the credit balance on the revaluation reserve, or reversal of such a transaction, is recognised in profit or loss.

In accordance with normal practice in the UK hotel industry, no depreciation is provided on freehold properties. It is the company's practice to maintain these assets in a continual state of sound repair and to extend and make improvements thereto from time to time.

Accordingly the director considers that the life of these assets and residual values, based on cost and revaluation are such that their depreciation is insignificant.

Depreciation is provided on the following basis:

Freehold property

-

not depreciated

Plant and machinery

-

20% straight line

Fixtures and fittings

-

25% straight line

Office equipment

-

25% straight line

The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.

Stocks

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

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, 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 receipts discounted at a market rate of interest.

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. Accounts 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

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.

Turnover

The turnover and loss (2023 - profit) 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

£

£

Memberships

3,717,256

3,495,593

Hotel

1,256,338

1,214,248

Food and beverage

771,439

765,606

Other

35,922

35,822

5,780,955

5,511,269

5.	Employees and directors

2024

2023

£

£

Wages and salaries

1,842,890

1,643,108

Social security costs

140,242

124,818

Other pension costs

32,858

27,577

2,015,990

1,795,503

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

2024

2023

Housekeeping

39

36

Leisure

29

28

Admin

18

19

Directors

2

2

88

85

2024

2023

£

£

Directors' remuneration

39,095

36,000

6.	Operating profit

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

2024

2023

£

£

Hire of plant and machinery

15,675

15,709

Depreciation - owned assets

170,818

160,389

Profit on disposal of fixed assets

-

(6,428

)

Auditors' remuneration

11,000

10,885