REGISTERED NUMBER: 04791696 (England and Wales)

Wookey Hole Limited

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 28 February 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Profit and Loss Account

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

S J Ramsay

W Ramsay

REGISTERED OFFICE:

Wookey Hole Caves

The Mill

Wookey Hole

Somerset

BA5 1BB

REGISTERED NUMBER:

04791696 (England and Wales)

AUDITORS:

Webb & Co Ltd

Accountants and Business Advisers

& Statutory Auditor

One New Street

Wells

Somerset

BA5 2LA

The directors present their strategic report for the year ended 28 February 2025.

Throughout the 2024/25 financial year, Wookey Hole has continued to deliver on its strategic priorities: enhancing essential infrastructure, elevating brand presentation, and driving operational efficiency. This year saw the execution of key initiatives and targeted investments that underscore our long-term commitment to quality, innovation, and sustainable growth. The following sections provide a summary of these developments.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our

business during the year and its position at the year end. Our review is consistent with the size and

non-complex nature of our business and is written in the context of risks and uncertainties we face.

We consider that our key financial performance indicators are those that communicate the financial

performance of the company as a whole, these being turnover, turnover growth, gross margin, profit

before tax and net asset value.

FINANCIAL KEY PERFORMANCE INDICATORS

The key financial highlights are as follows;

2025

2024

2023

2022

£

£

£

£

Turnover (£   )

6413

6703

6563

7127

Turnover Growth %

-4

2

-9

87

Gross Profit Margin %

79

78

80

83

Profit Before Tax

-270

-173

362

2001

Net Asset Value (£   )

4504

4930

5104

4926

PRINCIPAL RISKS AND UNCERTAINTIES

The uncertain economic climate is a key risk for the coming year. Family choices on whether to holiday at home or abroad are all factors to consider. Cost control remains a key focus for us with pressure on wages and utility costs being hardest affected areas. With a strong core business and exciting developments we look forward to a successful trading year.

INFRASTRUCTURE INVESTMENT

Substantial investment was made to upgrade critical infrastructure across both the Wookey Hole and Bucklegrove sites. Particular attention was given to electrical systems, where targeted improvements were carried out to enhance safety, reliability, and efficiency. These upgrades not only modernise our facilities but also provide a stable platform for future operational and experiential improvements.

HOTEL REFURBISHMENT AND STRATEGIC PARTNER ENGAGEMENT

A significant portion of capital expenditure was allocated to improving the presentation and functionality of the hotel. Refurbishment works included comprehensive updates to guest bedrooms and public areas, aligning the hotel environment with our evolving brand standards. These enhancements will continue into 2025/26, with the support of strategic partners. These partnerships are expected to strengthen our hospitality proposition, boost revenue generation, and support overall performance improvements.

DIVESTMENT AND STRATEGIC REFOCUS

In December 2024, the business completed the sale of Homestead Residential Park, marking the conclusion of a successful chapter of ownership. This strategic divestment allows for a sharper focus on Wookey Hole's core operations. The proceeds from the sale are being reinvested into the development of new attractions, starting with a major expansion of the popular Dinosaur Valley, scheduled to open in May 2025. This addition reflects our commitment to enriching the visitor experience and attracting new audiences.

ENHANCEMENTS TO THE CAVES VISITOR EXPERIENCE

Ongoing work within the caves focused on upgrading lighting and sound systems to improve the storytelling environment. These enhancements not only refine the immersive quality of cave tours but also serve as groundwork for further planned investment in 2025. In particular, the introduction of new projection systems will enable dynamic and engaging narratives that bring Wookey Hole's rich history to life.

CATERING EXPANSION AND EQUIPMENT INVESTMENT

As part of a strategic initiative to grow secondary revenue streams, targeted investment was made in new catering equipment and facility upgrades. This development supports the planned reopening of a popular catering unit in April 2025. Once operational, the enhanced outlet is expected to substantially increase visitor capacity and drive higher per-capita spend, contributing positively to both guest experience and overall commercial performance.

ON BEHALF OF THE BOARD:

S J Ramsay - Director

6 August 2025

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

DIVIDENDS

An interim dividend of 15.197p per share was paid on the Ordinary £1 shares on 20 August 2024. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 28 February 2025 will be £ 273,508 .

DIRECTORS

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

S J Ramsay

W Ramsay

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.

AUDITORS

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

ON BEHALF OF THE BOARD:

S J Ramsay - Director

6 August 2025

Opinion

We have audited the financial statements of Wookey Hole Limited (the 'company') for the year ended 28 February 2025 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement 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 28 February 2025 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.

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 four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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 in the Auditors' responsibilities for the audit of the

financial statements section, 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.

Based on our understanding of the company and industry we identified that the principal risks of non-compliance and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to manipulation of financial results and potential management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- Discussions with the Directors and Financial Controller including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Identifying and testing the validity of journal entries

- Challenging assumptions made by management in its significant accounting estimates

- Reviewing disclosures for accounting estimates

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, 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 deliberate concealment by, for example, forgery of intentional misrepresentations, or through collusion.

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.

Barry Davidson FCA FCCA (Senior Statutory Auditor)

for and on behalf of Webb & Co Ltd

Accountants and Business Advisers

& Statutory Auditor

One New Street

Wells

Somerset

BA5 2LA

14 August 2025

TURNOVER

2

6,413,860

6,703,836

Cost of sales

(1,330,738

)

(1,486,792

)

GROSS PROFIT

5,083,122

5,217,044

Administrative expenses

(5,096,751

)

(5,098,124

)

OPERATING (LOSS)/PROFIT

4

(13,629

)

118,920

Interest receivable and similar income

-

20

(13,629

)

118,940

Interest payable and similar expenses

5

(257,054

)

(292,747

)

LOSS BEFORE TAXATION

(270,683

)

(173,807

)

Tax on loss

6

117,703

7,807

LOSS FOR THE FINANCIAL YEAR

(152,980

)

(166,000

)

LOSS FOR THE YEAR

(152,980

)

(166,000

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(152,980

)

(166,000

)

FIXED ASSETS

Intangible assets

8

180,516

326,195

Tangible assets

9

7,497,525

8,974,122

Investments

10

600,099

600,099

8,278,140

9,900,416

CURRENT ASSETS

Stocks

11

90,194

84,352

Debtors

12

194,766

378,118

Cash at bank and in hand

1,108,714

446,718

1,393,674

909,188

CREDITORS

Amounts falling due within one year

13

1,715,988

2,116,850

NET CURRENT LIABILITIES

(322,314

)

(1,207,662

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,955,826

8,692,754

CREDITORS

Amounts falling due after more than one year

14

(3,422,400

)

(3,605,295

)

PROVISIONS FOR LIABILITIES

18

(29,265

)

(156,810

)

NET ASSETS

4,504,161

4,930,649

CAPITAL AND RESERVES

Called up share capital

19

1,800,000

1,800,000

Capital redemption reserve

450,000

450,000

Retained earnings

2,254,161

2,680,649

SHAREHOLDERS' FUNDS

4,504,161

4,930,649

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by:

S J Ramsay - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

1,800,000

2,854,771

450,000

5,104,771

Changes in equity

Dividends

-

(8,122

)

-

(8,122

)

Total comprehensive income

-

(166,000

)

-

(166,000

)

Balance at 29 February 2024

1,800,000

2,680,649

450,000

4,930,649

Changes in equity

Dividends

-

(273,508

)

-

(273,508

)

Total comprehensive income

-

(152,980

)

-

(152,980

)

Balance at 28 February 2025

1,800,000

2,254,161

450,000

4,504,161

Cash flows from operating activities

Cash generated from operations

22

532,450

645,957

Interest paid

(256,571

)

(291,843

)

Interest element of hire purchase payments paid

(483

)

(904

)

Tax paid

(32,918

)

(122,631

)

Net cash from operating activities

242,478

230,579

Cash flows from investing activities

Purchase of tangible fixed assets

(92,736

)

(251,946

)

Sale of intangible fixed assets

1

-

Sale of tangible fixed assets

1,265,454

-

Interest received

-

20

Net cash from investing activities

1,172,719

(251,926

)

Cash flows from financing activities

Loan repayments in year

(485,295

)

(1,186,675

)

Capital repayments in year

(398

)

(4,772

)

Amount introduced by directors

6,000

-

Amount withdrawn by directors

-

(6,000

)

Equity dividends paid

(273,508

)

(8,122

)

Net cash from financing activities

(753,201

)

(1,205,569

)

Increase/(decrease) in cash and cash equivalents

661,996

(1,226,916

)

Cash and cash equivalents at beginning of year

23

446,718

1,673,634

Cash and cash equivalents at end of year

23

1,108,714

446,718

1.	ACCOUNTING POLICIES

General information and basis of preparing the financial statements

The company is a private company, limited by shares, registered in England. The address of the registered office is One New Street, Wells, Somerset, BA5 2LA. The address of the principal place of business is Wookey Hole, Wells, Somerset, BA5 1BB.

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, which is the functional currency of the entity

Significant judgements and estimates

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of assets

The tangible fixed assets are periodically reviewed for impairment by the directors based on their knowledge and judgements.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows;

Depreciation and amortisation

The directors use their knowledge of the business and the industry to estimate the useful life and residual value of tangible assets in order to arrive at applicable deprecation and amortisation rates. In accordance with FRS 102, the directors review and update these estimates if there are indicators that current estimates should change.

It must be noted that there is inherent uncertainty within these estimates as factors such as unexpected wear and tear, technological advancement and changes in market prices may result in future changes to the appropriate rate of deprecation.

Revenue recognition

Revenue arises from the operation of visitor attractions and accommodation. Revenue represents the amounts received from customers (excluding VAT) for admission tickets, accommodation revenue, retail, food and beverage sales.

Ticket revenue is recognised at point of entry. Revenue from the sale of annual passes is deferred and then recognised over the period that the pass is valid. Retail and food and beverage revenues are recognised at the point of sale. Accommodation revenue is recognised at the time when the customer stays in the accommodation.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

Land 0%. Buildings over 50 years.

Plant and machinery

-

10% on cost

Exhibits

-

10% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are measured at the lower of cost and net reasliable value. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition. The cost formula used to value stock is first-in-first-out. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

Contributions payable to a NEST pension scheme are charged to the profit or loss in the period to which they relate.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 402 of the Companies Act 2006 on the basis that its subsidiaries are excluded from consolidation on the grounds that their inclusion is not material for the purpose of giving a true and fair view. These financial statements refer only to the parent company.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

2.

TURNOVER

The turnover and loss before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sale of goods

1,808,008

2,318,733

Rendering of services

4,605,852

4,385,103

6,413,860

6,703,836

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,383,287

2,268,774

Social security costs

159,720

143,918

Other pension costs

30,426

33,963

2,573,433

2,446,655

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

2025

2024

Administrative staff

8

7

Management staff (including directors)

18

16

Facilities staff

142

125

168

148

2025

2024

£

£

Directors' remuneration

133,158

127,617

Directors' pension contributions to money purchase schemes

2,642

-

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

Money purchase schemes

1

-

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

£

Other operating leases

7,200

7,200

Depreciation - owned assets

307,105

321,526

Depreciation - assets on hire purchase contracts

-

539

Loss on disposal of fixed assets

21,774

-

Goodwill amortisation

120,679

132,816

Auditors' remuneration

16,218

14,950

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

248

-

Bank loan interest

256,323

291,843

Hire purchase interest

483

904

257,054

292,747

6.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

13,175

32,919

Taxation adjustment for

earlier years

(3,332

)

(52

)

Total current tax

9,843

32,867

Deferred tax at 25%

(127,546

)

(40,674

)

Tax on loss

(117,703

)

(7,807

)

Reconciliation of total tax credit 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:

2025

2024

£

£

Loss before tax

(270,683

)

(173,807

)

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

(67,671

)

(43,452

)

Effects of:

Depreciation in excess of capital allowances

78,194

79,245

Adjustments to tax charge in respect of previous periods

(3,332

)

(52

)

Deferred taxation movement

(127,546

)

(40,674

)

Marginal taxation rate

2,652

(2,874

)

Total tax credit

(117,703

)

(7,807

)

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

273,508

-

Ordinary B shares of £1 each

Interim

-

8,122

273,508

8,122