REGISTERED NUMBER: 05110517 (England and Wales)

Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 30 September 2024

for

Ashdale UK Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Independent Auditors' Report

6

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

Mr M G M Wicks

Mrs J E Wicks

SECRETARY:

Mr M G M Wicks

REGISTERED OFFICE:

Hazlewood Castle Paradise Lane

Hazlewood

Tadcaster

Leeds

North Yorkshire

LS24 9NJ

REGISTERED NUMBER:

05110517 (England and Wales)

AUDITORS:

Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

The directors present their strategic report of the Company and the Group for the year ended 30 September 2024.

REVIEW OF BUSINESS

The directors 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 the risks and uncertainties we face.

The group's turnover increased by £532k (16.3%) to £3,795k, mainly as a result of the increases in activity at the spa and ampitheatre in the year. Due to rising costs such as wages and financing the group generated a loss after tax and movements in other comprehensive income of £47k, (2023: loss after tax and other comprehensive income of £47k). Group shareholders funds at the year end are therefore £765k (2023: £811k).

The residual impact of the pandemic, together with cost of living pressures on consumer spending combine to create a challenging business environment. These factors are being monitored by the directors in order for the related risks to be managed swiftly and effectively.

The group's financial projections indicate that it has sufficient facilities and funds to operate for at least the next 12 months and it's bankers and director shareholders continue to be supportive. Accordingly, the directors believe that the group has adequate resources to continue in operational existence for the foreseeable future and so the financial statements are prepared on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's operations expose it to a variety of financial and other risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The group does not use derivative financial instruments to manage interest rate costs and as such, no hedge accounting is applied.

The board of directors is responsible for monitoring financial risk and for deciding where it would be appropriate to use financial instruments to manage the risk.

Exchange rate risk

As the group has minimal transactions in foreign currency, it is not significantly exposed to exchange rate risk.

Price risk

The group has no exposure to equity securities risk, as it holds no listed or other equity investments.

Credit risk

The group has implemented policies that require credit checks on potential customers before significant credit sales are made.

Liquidity risk

The group actively maintains sufficient cash and bank balances and regularly reviews its overall borrowing requirements to ensure that the company has sufficient available funds for operations and any planned expansions. The group renegotiated its long-term loan facilities after the balance sheet date.

Interest rate cash flow risk

During the year, the group had interest bearing assets, comprising cash and bank balances which earn interest at variable rates, and interest bearing liabilities comprising its long term bank loans which bear interest at variable rates. The board of directors regularly reviews the mix of cash, overdraft and debt to manage interest rate risk. and has renegotiated its long term facilities and interest rates.

KEY PERFORMANCE INDICATORS

We consider that our key financial performance indicators are those that communicate the financial performance of the group, these being turnover, operating profit, profit before taxation and EBITDA.

ON BEHALF OF THE BOARD:

Mr M G M Wicks - Director

25 September 2025

The directors present their report with the financial statements of the Company and the Group for the year ended 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the Group in the year under review was that of hoteliers.

DIVIDENDS

Particulars of dividends are disclosed within the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mr M G M Wicks

Mrs J E Wicks

DISCLOSURE IN THE STRATEGIC REPORT

The group has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the group's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the Group and of the profit or loss of the Group 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 and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group 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 the Group 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 Group'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 Group's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr M G M Wicks - Director

25 September 2025

Opinion

We have audited the financial statements of Ashdale UK Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 Group's and of the Parent Company affairs as at 30 September 2024 and of the Group's 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 Group 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 Group's and the Parent 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 Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Auditors' Report 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 Group 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 Group 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the Parent Company 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 Group's and the Parent 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 Group or the Parent 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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

-

Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

The internal controls established to mitigate risk related to fraud or non-compliance with laws & regulations;

-

Obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we consideredin this context included, but were not limited to, Companies Act 2006, UK tax, employment, pensionand health and safety regulation, data protection and anti bribery regulation and we considered theextent to which non-compliance might have a material impact on the financial statements.

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 Auditors' Report.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

-

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

-

Enquiring of management concerning actual and potential litigation and claims;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; and

-

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing the judgements used in accounting estimates to assess whether these may be indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 an Auditors' Report 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.

Tom Garner CA CTA (Senior Statutory Auditor)

for and on behalf of Harris & Co Limited

Chartered Accountants & Statutory Auditor

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

25 September 2025

TURNOVER

3,794,729

3,262,628

Cost of sales

2,036,256

1,690,753

GROSS PROFIT

1,758,473

1,571,875

Administrative expenses

1,366,458

1,164,561

392,015

407,314

Other operating income

4

42,052

-

OPERATING PROFIT

6

434,067

407,314

Interest payable and similar expenses

7

526,842

435,476

LOSS BEFORE TAXATION

(92,775

)

(28,162

)

Tax on loss

8

95

-

LOSS FOR THE FINANCIAL YEAR

(92,870

)

(28,162

)

OTHER COMPREHENSIVE INCOME

Revaluation

Deferred tax on revaluation

46,270

(19,069

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

46,270

(19,069

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(46,600

)

(47,231

)

Loss attributable to:

Owners of the parent

(92,870

)

(28,162

)

Total comprehensive income attributable to:

Owners of the parent

(46,600

)

(47,231

)

FIXED ASSETS

Intangible assets

10

286,055

374,589

Tangible assets

11

7,801,087

7,654,719

Investments

12

-

-

Investment property

13

68,702

-

8,155,844

8,029,308

CURRENT ASSETS

Stocks

14

53,670

102,578

Debtors

15

167,208

194,018

Cash at bank and in hand

165,142

480,355

386,020

776,951

CREDITORS

Amounts falling due within one year

16

1,819,819

1,911,736

NET CURRENT LIABILITIES

(1,433,799

)

(1,134,785

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,722,045

6,894,523

CREDITORS

Amounts falling due after more than one year

17

(5,363,764

)

(5,443,372

)

PROVISIONS FOR LIABILITIES

21

(593,700

)

(639,970

)

NET ASSETS

764,581

811,181

CAPITAL AND RESERVES

Called up share capital

22

122

122

Revaluation reserve

23

367,812

321,542

Retained earnings

23

396,647

489,517

SHAREHOLDERS' FUNDS

764,581

811,181

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

Mr M G M Wicks - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

7,862,278

7,862,278

Investment property

13

-

-

7,862,278

7,862,278

CURRENT ASSETS

Debtors

15

4,837,101

4,837,101

Cash at bank

21,727

57,084

4,858,828

4,894,185

CREDITORS

Amounts falling due within one year

16

234,874

285,824

NET CURRENT ASSETS

4,623,954

4,608,361

TOTAL ASSETS LESS CURRENT LIABILITIES

12,486,232

12,470,639

CREDITORS

Amounts falling due after more than one year

17

9,092,040

9,072,109

NET ASSETS

3,394,192

3,398,530

CAPITAL AND RESERVES

Called up share capital

22

122

122

Retained earnings

23

3,394,070

3,398,408

SHAREHOLDERS' FUNDS

3,394,192

3,398,530

Company's loss for the financial year

(4,338

)

(5,428

)

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

Mr M G M Wicks - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 October 2022

122

517,679

340,611

858,412

Changes in equity

Total comprehensive income

-

(28,162

)

(19,069

)

(47,231

)

Balance at 30 September 2023

122

489,517

321,542

811,181

Changes in equity

Total comprehensive income

-

(92,870

)

46,270

(46,600

)

Balance at 30 September 2024

122

396,647

367,812

764,581

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2022

122

3,403,836

3,403,958

Changes in equity

Total comprehensive income

-

(5,428

)

(5,428

)

Balance at 30 September 2023

122

3,398,408

3,398,530

Changes in equity

Total comprehensive income

-

(4,338

)

(4,338

)

Balance at 30 September 2024

122

3,394,070

3,394,192

Cash flows from operating activities

Cash generated from operations

1

566,523

834,822

Interest paid

(500,960

)

(427,831

)

Interest element of hire purchase payments paid

(25,882

)

(7,645

)

Tax repayments received /(paid)

(95

)

(2,100

)

Net cash from operating activities

39,586

397,246

Cash flows from investing activities

Purchase of tangible fixed assets

(222,798

)

(416,622

)

Purchase of investment property

(68,702

)

-

Net cash from investing activities

(291,500

)

(416,622

)

Cash flows from financing activities

Loan repayments in year

(164,186

)

(151,079

)

New hire purchase agreements

87,000

75,200

Capital repayments of hire purchases

(33,147

)

(31,713

)

Amount introduced by directors

47,034

-

Amounts repaid by directors

-

(48,481

)

Net cash from financing activities

(63,299

)

(156,073

)

Decrease in cash and cash equivalents

(315,213

)

(175,449

)

Cash and cash equivalents at beginning of year

2

480,355

655,804

Cash and cash equivalents at end of year

2

165,142

480,355

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

2024

2023

£

£

Loss before taxation

(92,775

)

(28,162

)

Depreciation charges

164,964

146,112

Finance costs

526,842

435,476

599,031

553,426

Decrease/(increase) in stocks

48,908

(3,392

)

(Increase)/decrease in trade and other debtors

(2,429

)

180,422

(Decrease)/increase in trade and other creditors

(78,987

)

104,366

Cash generated from operations

566,523

834,822

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 30 September 2024

30/9/24

1/10/23

£

£

Cash and cash equivalents

165,142

480,355

Year ended 30 September 2023

30/9/23

1/10/22

£

£

Cash and cash equivalents

480,355

655,804

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/10/23

Cash flow

At 30/9/24

£

£

£

Net cash

Cash at bank and in hand

480,355

(315,213

)

165,142

480,355

(315,213

)

165,142

Debt

Finance leases

(86,059

)

(53,853

)

(139,912

)

Debts falling due within 1 year

(172,649

)

22,397

(150,252

)

Debts falling due after 1 year

(5,398,781

)

141,789

(5,256,992

)

(5,657,489

)

110,333

(5,547,156

)

Total

(5,177,134

)

(204,880

)

(5,382,014

)

1.	STATUTORY INFORMATION

Ashdale UK 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 General Information page.

The presentation and functional 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

These financial statements have been prepared in accordance with the 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 as modified by the revaluation of certain fixed assets.

Going concern

The Group's financial projections indicate that it has access to sufficient facilities and funds to

operate for at least the next 12 months on the basis that its bankers and the director shareholders continue to be supportive and will continue to provide financial support when required. Accordingly, the directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future and so the financial statements are prepared on a going concern basis.

Basis of consolidation

The financial statements incorporate the financial statements of the company and all group undertakings made up to 30 September 2024.

A subsidiary is an entity controlled by the company. Control exists when the company has power, directly or indirectly to govern the operating policies of the entity so as to derive benefits from its activities.

The consolidation of the subsidiary companies has been accounted for using the acquisition method of accounting. Any subsidiary undertakings sold or acquired during the year are included up to, or from, the dates of change of control. The financial statements of all subsidiary companies are prepared to the same accounting date as the parent company. Uniform accounting policies are followed throughout the group.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

The significant judgements and estimates applied in the preparation of these financial statements are the going concern basis, the valuation and useful economic lives of intangible and tangible fixed assets. These, and other policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents amounts earned on services provided during the year and derives from the provision of services falling within the company's ordinary activities.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20 years straight line

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost straight line, 15% on reducing balance and 5% on cost straight line

Fixtures and fittings

-

20% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

No depreciation is provided in respect of freehold land and buildings as they are kept in a continual state of good repair and, in the opinion of the directors, the residual value at the end of the useful life will not be materially less than carrying value in the financial statements. An annual impairment review of non-depreciated assets is carried out in accordance with FRS102. The directors of the company consider that this accounting policy is necessary for the accounts to show a true and fair view.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Deferred taxation on land and buildings is provided based on current market property valuations and current tax rates. To the extent that land and buildings are sold in the future, either the property market or tax rates may have fluctuated which means that the value of deferred tax may be different to that disclosed in these financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

4.	OTHER OPERATING INCOME

2024

2023

£

£

Sundry receipts

42,052

-

In the opinion of the directors, there are no material unfulfilled conditions or other contingencies relating to sundry income received in the year.

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,404,777

1,166,081

Social security costs

93,179

95,103

Other pension costs

20,738

20,737

1,518,694

1,281,921

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

2024

2023

General staff

93

80