REGISTERED NUMBER: 03124686 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FLIGHTSAFETY INTERNATIONAL U.K. LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Mr D F Deacon

Mr J A Downing

Ms B G Telek

Ms A Vertanen

SECRETARIES:

Ms L A Williams

CSC CLS (UK) Limited

REGISTERED OFFICE:

C/O Csc Cls (Uk) Limited

5 Churchill Place

10th Floor

London

E14 5HU

BUSINESS ADDRESS:

Farnborough Airport

Farnborough

Hampshire

GU14 6XA

REGISTERED NUMBER:

03124686 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

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

REVIEW AND ANALYSIS OF THE BUSINESS DURING THE CURRENT YEAR

The Company continued its principal activities of the supply of aviation training and the provision of facilities for aviation training throughout the current year.

Key performance indicators

Management use a range of performance measures to monitor and manage the business. The performance measures are split into financial and non-financial, with the key financial performance indicators as set out below.

Financial Ratios:

Profit Ratios

- Gross profit margin 89.9% (2023 - 89.1%)

- Net profit margin 17.2% (2023 - 49.1%)

- Return on capital employed 9.7% (2023 - 28.8%)

Liquidity ratios

- Current ratio 4.4 times (2023 - 6.5 times)

Development and financial performance during the year

As reported in the Company's profit and loss account, revenue has shown an increase of 13.6% from £26,139,737 to £29,704,204 in 2024. Net operating expenses (administrative expenses less other operating income) has increased by £11,305,067 to £22,065,849. Profit after tax was achieved of £4,860,309 compared to £8,336,807 in 2023.

The balance sheet shows that net assets at the year-end have increased from £41,011,938 to £45,872,247.

PRINCIPAL RISKS AND UNCERTAINTIES FACING THE BUSINESS

Management continually monitor the key risks facing the Company, together with assessing the controls used for managing these risks. The board of directors formally reviews and documents the principal risks facing the business at least annually. The principal risks and uncertainties facing the Company are as follows:-

Economic downturn

The Company acknowledges the importance of maintaining close relationships with its key customers in order to be able to identify the early signs of potential financial difficulties. Sales trends in its major markets are constantly reviewed to enable early action to be taken in the event of sales declining.

Competitor pressure

The market in which the Company operates is considered to be relatively competitive and therefore competitor pressure could result in losing sales to key competitors. The Company manages this risk by providing quality services and maintaining strong relationships with its key customers.

Loss of key personnel

This would present significant operational difficulties for the Company. Management seek to ensure that key personnel are appropriately remunerated and sufficiently trained to ensure that good performance is recognised.

Customer credit risk

The Company has implemented policies that require appropriate credit checks on potential customers and to ensure that exposure to customer debt is maintained within agreed limits.

Operational risk

The Company ensures that the necessary training and other operational requirements are maintained to the highest levels in order to significantly exceed the levels set to maintain the Company's authorisation to provide flight simulator training.

ON BEHALF OF THE BOARD:

Mr J A Downing - Director

22 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 activities of the company in the year under review were that of the supply of aviation training and the provision of facilities for aviation training.

DIVIDENDS

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

DIRECTORS

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

Mr D F Deacon

Mr J A Downing

Ms B G Telek

Other changes in directors holding office are as follows:

Mr D B Thress - resigned 12 July 2024

Mr D R Meikle - resigned 13 September 2024

Ms A Vertanen was appointed as a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr J A Downing - Director

22 September 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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.

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

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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

-

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

-

enquiry of entity staff and the board of directors to identify any instances of non-compliance with laws and regulations; and

-

reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition, the override of controls by management and the application of depreciation rates for simulators

To address the risk of fraud in relation to revenue recognition, we:

-

Performed detailed substantive testing to address completeness and accuracy of sales; and

-

Assessed the appropriateness and application of the accounting policy concerning income recognition; and

-

Assessed the risk period surrounding cut-off of sales and performed detailed testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

-

Performed analytical procedures to identify any unusual or unexpected relationships; and

-

Tested journal entries to identify unusual transactions; and

-

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

Investigated the rationale behind significant or unusual transactions.

To address the risk of error through application of depreciation rates and the judgement of the economic useful life for simulators, we:

-

Recalculated depreciation for a sample of assets against the depreciation rates implemented by management; and

-

Assessed whether the depreciation rates are aggressive or conservative against useful life of an asset; and

-

Compared policies implemented against policies implemented by similar entities.

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.

Mr Stephen Mason BSc FCA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

24 September 2025

TURNOVER

29,704,204

26,139,737

Cost of sales

3,003,842

2,846,534

GROSS PROFIT

26,700,362

23,293,203

Administrative expenses

26,713,515

18,818,549

(13,153

)

4,474,654

Other operating income

4,647,666

8,057,767

OPERATING PROFIT

6

4,634,513

12,532,421

Interest receivable and similar income

440,581

150,997

5,075,094

12,683,418

Interest payable and similar expenses

7

(47,627

)

(157,574

)

PROFIT BEFORE TAXATION

5,122,721

12,840,992

Tax on profit

8

262,412

4,504,185

PROFIT FOR THE FINANCIAL YEAR

4,860,309

8,336,807

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

4,860,309

8,336,807

FIXED ASSETS

Tangible assets

9

28,717,563

21,765,688

Investments

10

4,672

4,672

28,722,235

21,770,360

CURRENT ASSETS

Debtors

11

5,790,311

16,540,861

Investments

12

5,504,216

1,630,841

Cash at bank

13

13,637,441

7,481,216

24,931,968

25,652,918

CREDITORS

Amounts falling due within one year

14

5,960,851

3,936,546

NET CURRENT ASSETS

18,971,117

21,716,372

TOTAL ASSETS LESS CURRENT LIABILITIES

47,693,352

43,486,732

PROVISIONS FOR LIABILITIES

16

1,821,105

2,474,794

NET ASSETS

45,872,247

41,011,938

CAPITAL AND RESERVES

Called up share capital

17

14,700,000

14,700,000

Retained earnings

31,172,247

26,311,938

SHAREHOLDERS' FUNDS

45,872,247

41,011,938

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

Mr J A Downing - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

14,700,000

17,975,131

32,675,131

Changes in equity

Total comprehensive income

-

8,336,807

8,336,807

Balance at 31 December 2023

14,700,000

26,311,938

41,011,938

Changes in equity

Total comprehensive income

-

4,860,309

4,860,309

Balance at 31 December 2024

14,700,000

31,172,247

45,872,247

1.	STATUTORY INFORMATION

FlightSafety International U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

In taking advantage of these exemptions as a subsidiary undertaking the company has provided details of its parent undertaking in Note 17.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In respect of contracts for on-going services, turnover represents the value of services provided in the year, recognised by reference to the proportion of training completed.

Other operating income

Other operating income in respect of recharge of service costs is recognised as the shared facility is used and services are provided.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation.

All capital assets purchased must be authorised by the appropriate personnel in accordance with the Company’s Delegation of Authority and Authorisation for expenditure processes.

All assets capitalised prior to 1 January 2023 are depreciated at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property

-

equal instalments of 20 years over the net book value as at 2020.

Flight simulators

-

flight simulators 90% of costs over 12 years with remaining 10% over years following 8 years.

flight simulator upgrades 90% of costs over 8 years with remaining 10% over following 12 years.

as of 2021 the cost of new simulators are depreciated straight-line over 20 years

Plant and machinery

-

12½% per annum on the straight line basis.

The assets represent the rotable inventory of simulator spare parts which need to be maintained in order to ensure the constant use of a flight simulator owned or held under an operating lease, which is essential to the company's main activity of the provision of aviation training.

Furniture, fixtures and fittings

-

in equal instalments over 7 or 10 years, depending on the type of asset.

Office equipment

-

20 - 25% per annum on the straight line basis.

Motor vehicle

-

depreciated for four years on a straight line basis to a residual value of 10%

All assets capitalised after 1 January 2023 are depreciated at the following annual rates in order to write off each asset over its estimated useful life.

Flight Simulators

-

straight line over 20 years

Visuals

-

straight line over 20 years

Furniture, Fixtures and Fittings

-

straight line over 10 years

GFS and Training Devices

-

straight line over 8 years

Rotable Inventory

-

straight line over 8 years

Telephones

-

straight line over 7 years

Computer, Hardware & Software

-

straight line over 5 years

Copiers

-

straight line over 4 years

Motor vehicles

-

straight line over 4 years

Building - Owned Land

-

straight line over 40 years

Leasehold Improvement

-

over the lease terms

FSI Built Building on Lease Land

-

over the land lease terms

Assets are reviewed annually for impairment and their value reduced once the economic benefit of expected revenue falls below the asset's net book value.

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

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

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.

Investments

Other investments are measured at fair value through profit or loss, with changes in fair value and interest income recognised in the profit and loss account as they arise. Management's intention is to hold the investment for a period shorter than 12 months and therefore recognise as a current asset.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the opinion of the directors the follow judgements and estimates have had the most significant effect on amounts recognised in the financial statements

Depreciation of simulators

Depreciation rates and the useful life of simulators are regularly monitored by management based on the age of the simulator and utilisation of the simulator. Management, on a quarterly basis, perform an assessment of the useful life and revise the policies accordingly.

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

7,257,852

7,019,742

Social security costs

807,630

711,056

Other pension costs

414,854

461,833

8,480,336

8,192,631

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

2024

2023

Instructors

30

31

Technicians

18

21

Administration and customer support

49

43

97

95

2024

2023

£

£

Directors' remuneration

174,325

184,890

Directors' pension contributions to money purchase schemes

19,679

13,327

Directors remuneration paid by other group undertakings are not recharged to the company. The directors are considered to be key management.

6.	OPERATING PROFIT

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

2024

2023

£

£

Other operating leases

486,363

451,109

Depreciation - owned assets

2,497,266

2,162,934

Profit on disposal of fixed assets

-

(2,123

)

Auditors' remuneration

15,750

15,000

Foreign exchange losses / (gains)

295,138

222,721

Recharge of expenses to group companies

(4,287,865

)

(8,057,767

)

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Withholding taxes

11,387

38,789

VAT penalties

(59,014

)

(196,363

)

(47,627

)

(157,574

)

8.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

1,239,694

3,152,351

Under provision last year

(374,446

)

351,698

Other taxes

50,853

74,290

Total current tax

916,101

3,578,339

Deferred tax

(653,689

)

925,846

Tax on profit

262,412

4,504,185

Reconciliation of total tax charge included in profit and loss

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

2024

2023

£

£

Profit before tax

5,122,721

12,840,992

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.500%)

1,280,680

3,017,633

Effects of:

Expenses not deductible for tax purposes

2,086

(35,514

)

Capital allowances in excess of depreciation

(30,878

)

(33,608

)

Adjustments to tax charge in respect of previous periods

(374,447

)

351,698

Over / (under) provision of tax charge in respect of current period

(12,193

)

203,840

Deferred tax

(653,689

)

925,846

Other taxes

50,853

74,290

Total tax charge

262,412

4,504,185

9.	TANGIBLE FIXED ASSETS

Assets

Land and

under

Plant and

buildings

Construction

machinery

£

£

£

COST

At 1 January 2024

11,670,067

-

1,949,895

Additions

561,547

8,641,528

215,562

Disposals

-

-

(3,008

)

At 31 December 2024

12,231,614

8,641,528

2,162,449

DEPRECIATION

At 1 January 2024

6,384,021

-

1,033,515

Charge for year

615,786

-

237,986

At 31 December 2024

6,999,807

-

1,271,501

NET BOOK VALUE

At 31 December 2024

5,231,807

8,641,528

890,948

At 31 December 2023

5,286,046

-

916,380

Fixtures

and

Motor

fittings

vehicles

Simulators

Totals

£

£

£

£

COST

At 1 January 2024

1,781,783

68,884

37,166,446

52,637,075

Additions

33,512

-

-

9,452,149

Disposals

-

-

-

(3,008

)

At 31 December 2024

1,815,295

68,884

37,166,446

62,086,216

DEPRECIATION

At 1 January 2024

1,611,778

68,884

21,773,189

30,871,387

Charge for year

60,522

-

1,582,972

2,497,266

At 31 December 2024

1,672,300

68,884

23,356,161

33,368,653

NET BOOK VALUE

At 31 December 2024

142,995

-

13,810,285

28,717,563

At 31 December 2023

170,005

-

15,393,257

21,765,688

The land and buildings comprise of short term leasehold property.

10.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

4,672

NET BOOK VALUE

At 31 December 2024

4,672

At 31 December 2023

4,672

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

4,119,556

5,285,530

Amounts owed by group undertakings

653,680

10,631,876

VAT

387,904

-

Prepayments and accrued income

629,171

623,455

5,790,311

16,540,861

All amounts owed by group undertakings are interest free and have no fixed repayment date.

12.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Other

5,504,216

1,630,841