REGISTERED NUMBER: 03172736 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Uneek Clothing Company Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Energy and Greenhouse Gas Report forming part of the Report of the Directors

7

Report of the Independent Auditors

8

Income Statement

11

Other Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

DIRECTORS:

Nasser Ali Khan

Raza Ali Khan

SECRETARY:

Nasser Ali Khan

REGISTERED OFFICE:

5 North End Road

London

NW11 7RJ

REGISTERED NUMBER:

03172736 (England and Wales)

SENIOR STATUTORY AUDITOR:

Adrian Heller FCA

AUDITORS:

Martin + Heller

Chartered Accountants

and Registered Auditor

5 North End Road

London

NW11 7RJ

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

Uneek is a family owned and controlled business. The company a is well established importer of clothing apparel and related products. It has been trading successfully for more than 25 years with a B2B model.

The company sells its products to wholesale, retail and online customers. The company's customer base is extremely diverse and includes sports & leisure, work & safety wear, PPE, education, health & beauty etc.

During the year, the turnover decreased by just under 7%, however the gross profit margin increased from 29% to 30%.

The turnover decreased due to tough market conditions predominantly driven by high inflation rate in the UK economy. However, the increase in gross profit margin had been due to sales price increases and decrease in freight costs during the year.

REVIEW OF BUSINESS

The performance of the company during the year ended 31 December 2024 has produced the following results.

The company has made significant progress throughout the year in relation to key elements of its strategy, especially in maintaining profitability regardless of drop in sales. The Board monitors the progress of the company by reference to the followings:

31.12.2024

31.12.2023

£

£

Turnover

46,435,136

49,813,463

Profit after tax

6,081,832

7,426,909

Shareholders funds

32,279,273

28,197,441

The company will continue to consolidate its position and concentrate its efforts on achieving maximum growth in its existing market segments in the next financial year.

PRINCIPAL RISKS AND UNCERTAINTIES

The company possesses the required management expertise to monitor and manage risk. The principal risks and uncertainties facing the company are as follows:

Economic Risks

Any economic downturn is likely to lead to a reduction in the overall demand of the goods in the market.

Price Risks

Price risks arise on the company's product range due to changes in product prices. There is a management team dedicated to monitoring product prices to ensure exposure is limited.

Financial Risks

The company has exposure to foreign exchange rates because overseas suppliers are paid in foreign currency.

Credit risk

A risk that one party will cause financial loss to another party by failing to discharge an obligation. It is the company's policy to minimise such losses by ensuring deferred terms are only granted to those customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. At the balance sheet date most of the total trade debtors were within assigned terms.

Liquidity risk

The risk that the company may encounter difficulty in meeting its obligations associated with financial liabilities.

Operational Risks

The emerging risk & uncertainty arising from the pandemic had severely affected the economic conditions globally. A re-emergence of a pandemic and lockdowns, especially in the nations where suppliers are based, such as China, Pakistan and Bangladesh can impact all areas of business from supply chain to revenue.

SECTION 172(1) STATEMENT

The directors have always paid due regard to the effect of their actions on various stakeholders who have an interest in the business. Section 172 of the Companies Act requires us to report each year on the steps taken to fulfil these obligations towards our stakeholders. There are various parties who may be affected by the decisions made by the Board of Directors in the day to day running of the business and as such can be considered stakeholders. It is the responsibility of the board of directors to consider these interests in order to deliver the best possible outcome.

Employees & Suppliers

We actively engage with our suppliers and the employees who form an integral part of our operation and are considered key strategic partners.

The company has a loyal team of employees, most of whom have been employed for many years. Their efforts are highly valued and the company seeks to offer an environment in which the employees can thrive. Staff training, pension scheme and other benefits are offered. Health and safety and employee welfare are the key areas which management insist upon.

Customers

The company focuses on providing best experience to our customers and are always seeking ways to add value by investing in the future.

We value the strategic relationships we have with our key customers who have been with us for a long period of time based on reliability and trust.

ENVIRONMENT, SOCIAL AND GOVERNANCE (ESG)

In order to reduce environmental impact caused by the garment industry, the company has proactive measures in reducing such impact by increasing product ranges from organically produced cotton and reducing the product ranges from synthetic fabrics.

FUTURE DEVELOPMENTS

Despite the setbacks in the prior years caused by events such as Brexit, Covid-19 pandemic and continuous uncertainty regarding the current inflation and cost of living crises, the directors are of the opinion that the orders and current demand levels along with the company's broad client base, the company will continue to develop and progress.

ON BEHALF OF THE BOARD:

Nasser Ali Khan - 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 activity of the company in the year under review was that of importer of men's, women and children's garments.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 is £2m (2023: £1m).

DIRECTORS

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

Nasser Ali Khan

Raza Ali Khan

POLITICAL DONATIONS AND EXPENDITURE

Charitable donations made during the period as follows:

Year ended

Year ended

31.12.2024

31.12.2023

£

£

Donations - UK charities

417,619

305,806

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, Martin + Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Nasser Ali Khan - Director

22 September 2025

ENVIRONMENTAL ACTIONS STATEMENT

The company's board is committed to the continual improvement of good environmental practices within the business, especially those that result in carbon emissions. Activities such as monitoring and measuring our impacts, minimising energy and fuel consumption, minimising our resource use and implementing tight operational controls in our premises, will support our environmental and carbon reduction strategy and enhance the reputation of the company.

UK ENERGY CONSUMPTION AND GREENHOUSE GAS DISCLOSURE

The Companies Act 2006 (Strategic Report and Directors’ Report) Regulation 2018 requires the company to disclose annual UK energy consumption and Greenhouse Gas (GHG) emissions from SECR regulated sources.

Table 1 details the regulated SECR energy and GHG emission sources for the current reporting year from 1st January 2024 to 31st December 2024.

The company is committed to reducing its environmental impact and contribution to climate change. During the reporting year, we have assessed and measured our carbon footprint, and have set up data collation and reporting mechanisms for this going forward.

Following our initial assessment of our carbon emissions in 2024; we intend to include some additional Scope 3 emissions to improve our reporting in the future reporting periods..

TABLE 1 - SECR SUMMARY - 2024

Carbon

SECR Data

SECR Data

(Tonnes CO2e)

(kWh)

(MWh)

Electricity - Head office

3.44

14,756

15

Electricity - Warehouse

41.28

177,175

177

Gas - Warehouse

44.96

245,680

246

Scope 2 - Total

89.68

437,611

438

Total Emissions (All Scopes)

90

437,611

438

Intensity Metric for the year is as follows:

Turnover

£46m

tCO2e per £m of turnover

0.51

Opinion

We have audited the financial statements of Uneek Clothing Company Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other 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 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 five, 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.

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the

financial statements. We discussed with management the extent of compliance with those laws and regulations as

part of our audit procedures.

- We had regard to laws and regulations in areas that directly affect the financial statements including financial

reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as

part of our procedures on the related financial statement items.

- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in

respect of these was limited to enquiry of the directors.

- We communicated identified laws and regulations throughout our team and remained alert to any indications of

non-compliance throughout the audit.

- We addressed the risk of fraud through management override of controls, by testing the appropriateness of

journal entries and other adjustments, assessing whether the judgements made in making accounting estimates

are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are

unusual or outside the normal course of business.

- Our audit procedures were designed to identify and assess risks of material misstatement in the financial

statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher

than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions,

misrepresentations, or management override of controls.

- There are inherent limitations in the audit procedures performed. Our responsibility is to conclude whether the

financial statements represent the underlying financial position and activities of the company and to ensure that

the overall content and presentation of the financial statements gives a fair view.

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.

Adrian Heller FCA (Senior Statutory Auditor)

for and on behalf of Martin + Heller

Chartered Accountants

and Registered Auditor

5 North End Road

London

NW11 7RJ

22 September 2025

TURNOVER

3

46,435,136

49,813,463

Cost of sales

32,606,982

35,194,710

GROSS PROFIT

13,828,154

14,618,753

Administrative expenses

5,680,573

4,742,639

OPERATING PROFIT

5

8,147,581

9,876,114

Interest receivable and similar income

29,207

-

8,176,788

9,876,114

Interest payable and similar expenses

7

70,150

141,845

PROFIT BEFORE TAXATION

8,106,638

9,734,269

Tax on profit

8

2,024,806

2,307,360

PROFIT FOR THE FINANCIAL YEAR

6,081,832

7,426,909

PROFIT FOR THE YEAR

6,081,832

7,426,909

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

6,081,832

7,426,909

FIXED ASSETS

Tangible assets

10

6,667,129

6,712,138

CURRENT ASSETS

Stocks

11

14,529,750

17,797,351

Debtors

12

7,045,018

6,363,387

Cash at bank

9,547,765

4,037,672

31,122,533

28,198,410

CREDITORS

Amounts falling due within one year

13

5,510,389

6,713,107

NET CURRENT ASSETS

25,612,144

21,485,303

TOTAL ASSETS LESS CURRENT LIABILITIES

32,279,273

28,197,441

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

15

32,279,173

28,197,341

SHAREHOLDERS' FUNDS

32,279,273

28,197,441

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:

Nasser Ali Khan - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

21,770,432

21,770,532

Changes in equity

Dividends

-

(1,000,000

)

(1,000,000

)

Total comprehensive income

-

7,426,909

7,426,909

Balance at 31 December 2023

100

28,197,341

28,197,441

Changes in equity

Dividends

-

(2,000,000

)

(2,000,000

)

Total comprehensive income

-

6,081,832

6,081,832

Balance at 31 December 2024

100

32,279,173

32,279,273

Cash flows from operating activities

Cash generated from operations

1

10,592,557

13,800,068

Interest paid

(70,150

)

(141,845

)

Tax paid

(2,842,107

)

(2,472,396

)

Net cash from operating activities

7,680,300

11,185,827

Cash flows from investing activities

Purchase of tangible fixed assets

(17,871

)

(103,181

)

Interest received

29,207

-

Net cash from investing activities

11,336

(103,181

)

Cash flows from financing activities

Amount introduced by directors

-

3,312

Amount withdrawn by directors

(3,996

)

(2,349

)

Amounts to/from to parent company

(177,547

)

(7,304,548

)

Equity dividends paid

(2,000,000

)

(1,000,000

)

Net cash from financing activities

(2,181,543

)

(8,303,585

)

Increase in cash and cash equivalents

5,510,093

2,779,061

Cash and cash equivalents at beginning of year

2

4,037,672

1,258,611

Cash and cash equivalents at end of year

2

9,547,765

4,037,672

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

31.12.24

31.12.23

£

£

Profit before taxation

8,106,638

9,734,269

Depreciation charges

62,880

73,947

Finance costs

70,150

141,845

Finance income

(29,207

)

-

8,210,461

9,950,061

Decrease in stocks

3,267,601

729,514

(Increase)/decrease in trade and other debtors

(681,631

)

1,890,143

(Decrease)/increase in trade and other creditors

(203,874

)

1,230,350

Cash generated from operations

10,592,557

13,800,068

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 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

9,547,765

4,037,672

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

4,037,672

1,258,611

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank

4,037,672

5,510,093

9,547,765

4,037,672

5,510,093

9,547,765

Total

4,037,672

5,510,093

9,547,765

1.	STATUTORY INFORMATION

Uneek Clothing Company 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

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

The financial statements are prepared in Sterling (£) and figures rounded to nearest £1.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

The items in the financial statements where these judgments and estimates have been made include:

Trade debtors

The majority of trade debtors are paid within the agreed conditions. Management makes judgements regarding recoverability of aged debtors using external evidence of the credit status of the counterparty and where necessary will impair the carrying values.

Stock

An impairment loss is recognised where the selling price (less cost to sell) is less than the cost. In arriving at this impairment loss, judgements and estimates have been used to assess the anticipated future selling prices of stocks held at year end, particularly for slow moving and discontinued stock items.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales taxes or duty. Carriage charge made to customers are included in revenue.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer, usually on despatch of goods.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

30% on reducing balance

Fixtures and fittings

-

30% on reducing balance

Motor vehicles

-

3 to 5 years

Computer equipment

-

30% on reducing balance

Tangible Fixed Assets are stated at historical cost less accumulated depreciation and accumulated impairment loss. Cost includes expenditure directly attributable to making the asset capable of operating as intended.

Stocks

Cost includes all cost of purchase and any other costs incurred in bringing stock to its present position and condition.

The stock is valued at lower of cost and selling price less costs to sell.

The ownership of stock is recognised when the significant risks and rewards of the goods have been passed to the company, usually at port of shipment of the supplier.

Financial instruments

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

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

Taxation

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

Research and development

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

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. Non monetary items measured at historical cost are translated using the exchange rate at the date of the tramonetary Non moentary items measured at fair value are measured using the exchange rate when fair value was determined.

Exchange differences are taken into account in arriving at the operating result.

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.

Trade debtors

The goods when sold to customers on short-term credit, a receivable is recognised at the undiscounted amount of cash receivable, normally the invoice price.

Trade creditors

Trade payables 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.

Cash

Cash and cash equivalents include cash in hand, deposits held at call with banks. Bank overdrafts, when applicable, are shown within borrowings in current liabilities

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.24

31.12.23

£

£

United Kingdom

45,546,741

48,727,723

Europe

888,395

1,085,740

46,435,136

49,813,463

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

2,848,321

2,580,755

Social security costs

276,601

245,584

Other pension costs

39,266

29,333

3,164,188

2,855,672

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

31.12.24

31.12.23

Administration

32

29

Distribution

67

63

99

92

31.12.24

31.12.23

£

£

Directors' remuneration

192,528

206,516

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

Defined benefit schemes

-

1

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

62,880

73,947

6.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

20,000

20,000

Total audit fees

20,000

20,000

Other non- audit services

5,000

5,000

Total non-audit fees

5,000

5,000

Total fees payable

25,000

25,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Factoring charges

70,150

139,241

Interest on overdue tax

-

2,604

70,150

141,845

8.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

2,050,000

2,304,315

Prior year tax adjustment

(25,194

)

3,045

Tax on profit

2,024,806

2,307,360

UK corporation tax has been charged at 25% (2023 - 23.50%).