REGISTERED NUMBER: 07462517 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2024

for

Outdo Media Limited

Previously known as

CP Media Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Profit and Loss Account

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

M A Brennan

A K Walker

E T Armstrong

R E Davies

R W M Eccles

P M Goodman

SECRETARY:

N K Walker

REGISTERED OFFICE:

5a Clare Road

Halifax

HX1 2HX

REGISTERED NUMBER:

07462517 (England and Wales)

SENIOR STATUTORY AUDITOR:

Phillipa Symington ACA, CA(SA)

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Oak Tree House, Harwood Road

Northminster Business Park

Upper Poppleton

York

YO26 6QU

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The year ended 31 December 2024 marked a period of strong growth and strategic consolidation for Outdo Media Limited (previously CP Media Limited). The group continued to expand its footprint in the outdoor advertising space delivering robust financial performance.

Group turnover increased by 19.59% to £12.73 million (2023: £10.64 million), driven by organic growth across media and production revenue streams. Gross profit rose significantly to £5.48 million (2023: £3.74 million), reflecting improved cost management and operational efficiencies. Profit before taxation reached £2.59 million (2023: £1.58 million), underpinned by strong contributions from subsidiaries and associate entities.

During the period, the Group continued its expansion by acquiring the remaining share capital of Lamppost Banners Limited, to bring its holding to 100%.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have considered the principal risks and uncertainties facing the Group, which include:

- Market Volatility: Changes in advertising spend and economic conditions may impact client budgets and demand.

- Regulatory Compliance: The group operates in a regulated environment and must remain vigilant to changes in advertising standards, employment law, and tax legislation.

- Operational Risk: Risks associated with service delivery, technology infrastructure, and supply chain disruptions are actively managed through internal controls and contingency planning.

- Credit Risk: Exposure to customer defaults is mitigated through credit checks and diversified client portfolios.

The group maintains a risk register and conducts regular reviews to ensure appropriate mitigation strategies are in place.

SECTION 172(1) STATEMENT

In accordance with Section 172 of the Companies Act 2006, the directors have acted in good faith to promote the success of the company for the benefit of its members. This includes consideration of:

- The long-term consequences of decisions

- The interests of employees

- The need to foster relationships with suppliers, customers, and stakeholders

- The impact of operations on the community and environment

- The desirability of maintaining a reputation for high standards of business conduct

The board continues to engage with stakeholders and incorporate their feedback into strategic planning.

RESEARCH & DEVELOPMENT

There have been no research and development activities throughout the year.

FINANCIAL INSTRUMENTS

In accordance with FRS 102, the group recognises the importance of effective management of financial instruments in supporting its strategic objectives and safeguarding stakeholder interests. The group's financial instruments primarily consist of cash and cash equivalents, trade receivables, other receivables, trade payables and other payables.

ON BEHALF OF THE BOARD:

M A Brennan - Director

26 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

CHANGE OF NAME

The group passed a special resolution on 11 September 2025 changing its name from CP Media Limited to Outdo Media Limited.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of advertising, media and management services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 was £1,389,379.

FUTURE DEVELOPMENTS

Looking ahead, the group intends to:

- Continue expanding its media representation services through new concession agreements, strategic partnerships and acquisitions.

- Invest in IT systems to build a solid platform for growth.

- Reduce costs as a proportion of revenue by focusing on operational efficiencies.

The directors remain confident in the group's ability to deliver sustainable growth and shareholder value.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

M A Brennan

A K Walker

E T Armstrong

R E Davies

R W M Eccles

Other changes in directors holding office are as follows:

M R O'Driscoll - resigned 23 September 2024

P M Goodman - appointed 23 September 2024

POLITICAL DONATIONS AND EXPENDITURE

No political donations or expenditure were made during the year.

EVENTS AFTER THE REPORTING PERIOD

There are no events that have taken place since the reporting date that would result in an adjustment to the attached group financial statements.

INCLUSION OF INFORMATION IN THE STRATEGIC REPORT

In accordance with Section 415(5) of the Companies Act 2006, certain information required to be included in the Directors’ Report has been presented in the Strategic Report instead. This is done in respect of Future Developments.

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 they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Clive Owen LLP, have been appointed. This is the first year of audit for the Group having exceeded the thresholds for audit exemption under the Companies Act 2006.

ON BEHALF OF THE BOARD:

M A Brennan - Director

26 September 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's 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 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 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 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 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 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 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, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

-

Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be around financial reporting legislation, taxation legislation, health & safety, and employment law.

-

Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

-

Review of board minutes and correspondence with regulators.

-

Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

-

Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. We do not consider there to be any significant key estimates, assumptions or judgements.

-

Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. 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 concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Other matters which we are required to address

This is the first year that the group has been audited. In the prior year the group took advantage of the audit exemption available to small groups, therefore the comparatives in these financial statements for the year ended 31 December 2023 are unaudited. However, we have obtained sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements.

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.

Phillipa Symington ACA, CA(SA) (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Oak Tree House, Harwood Road

Northminster Business Park

Upper Poppleton

York

YO26 6QU

26 September 2025

TURNOVER

3

12,728,875

10,644,196

Cost of sales

(7,251,551

)

(6,901,256

)

GROSS PROFIT

5,477,324

3,742,940

Administrative expenses

(3,161,436

)

(2,367,744

)

2,315,888

1,375,196

Other operating income

34,087

166,837

GROUP OPERATING PROFIT

5

2,349,975

1,542,033

Share of operating profit in

Associates

121,492

-

Income from shares in group undertakings

-

14,850

Interest receivable and similar income

116,734

24,891

2,588,201

1,581,774

Interest payable and similar expenses

7

(422

)

(552

)

PROFIT BEFORE TAXATION

2,587,779

1,581,222

Tax on profit

8

(377,158

)

(19,812

)

PROFIT FOR THE FINANCIAL YEAR

2,210,621

1,561,410

Profit attributable to:

Owners of the parent

2,210,621

1,561,410

PROFIT FOR THE YEAR

2,210,621

1,561,410

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,210,621

1,561,410

Total comprehensive income attributable to:

Owners of the parent

2,210,621

1,561,410

FIXED ASSETS

Intangible assets

11

422,822

727,254

Tangible assets

12

563,481

645,635

Investments

13

-

-

986,303

1,372,889

CURRENT ASSETS

Stocks

14

8,304

9,708

Debtors

15

2,097,650

1,592,360

Cash at bank and in hand

4,338,647

3,837,285

6,444,601

5,439,353

CREDITORS

Amounts falling due within one year

16

(4,137,772

)

(4,326,637

)

NET CURRENT ASSETS

2,306,829

1,112,716

TOTAL ASSETS LESS CURRENT LIABILITIES

3,293,132

2,485,605

PROVISIONS FOR LIABILITIES

17

(35,755

)

(49,470

)

NET ASSETS

3,257,377

2,436,135

CAPITAL AND RESERVES

Called up share capital

18

100,000

100,000

Retained earnings

19

3,157,377

2,336,135

SHAREHOLDERS' FUNDS

3,257,377

2,436,135

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M A Brennan - Director

FIXED ASSETS

Intangible assets

11

-

10,667

Tangible assets

12

478,936

535,916

Investments

13

2,979,264

1,750,331

3,458,200

2,296,914

CURRENT ASSETS

Debtors

15

1,205,916

5,335,219

Cash at bank and in hand

2,665,730

3,011,189

3,871,646

8,346,408

CREDITORS

Amounts falling due within one year

16

(4,746,747

)

(6,843,749

)

NET CURRENT (LIABILITIES)/ASSETS

(875,101

)

1,502,659

TOTAL ASSETS LESS CURRENT LIABILITIES

2,583,099

3,799,573

PROVISIONS FOR LIABILITIES

17

(36,360

)

(48,032

)

NET ASSETS

2,546,739

3,751,541

CAPITAL AND RESERVES

Called up share capital

18

100,000

100,000

Retained earnings

19

2,446,739

3,651,541

SHAREHOLDERS' FUNDS

2,546,739

3,751,541

Company's profit for the financial year

184,577

1,949,565

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M A Brennan - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 January 2023

100,000

1,876,682

1,976,682

-

1,976,682

Changes in equity

Dividends

-

(1,101,957

)

(1,101,957

)

-

(1,101,957

)

Total comprehensive income

-

1,561,410

1,561,410

-

1,561,410

Balance at 31 December 2023

100,000

2,336,135

2,436,135

-

2,436,135

Changes in equity

Dividends

-

(1,389,379

)

(1,389,379

)

-

(1,389,379

)

Total comprehensive income

-

2,210,621

2,210,621

-

2,210,621

Balance at 31 December 2024

100,000

3,157,377

3,257,377

-

3,257,377

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100,000

2,803,933

2,903,933

Changes in equity

Dividends

-

(1,101,957

)

(1,101,957

)

Total comprehensive income

-

1,949,565

1,949,565

Balance at 31 December 2023

100,000

3,651,541

3,751,541

Changes in equity

Dividends

-

(1,389,379

)

(1,389,379

)

Total comprehensive income

-

184,577

184,577

Balance at 31 December 2024

100,000

2,446,739

2,546,739

1.	STATUTORY INFORMATION

Outdo Media 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.

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 principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Going Concern

The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the group and the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the group will continue to trade. If the group is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Basis of consolidation

The group accounts consolidate the results of the company and its subsidiaries under the acquisition method.

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.

Changes in accounting policies

During the year, the Group reassessed its revenue recognition policy for production revenue relating to roundabout advertising under Outdo Media Limited (previously CP Media). Previously, revenue was recognised in full on installation. Following a review of service obligations, it was determined that the Group incurs ongoing maintenance costs over the life of the contract, without charging customers separately.

As a result, the Group has revised its policy to recognise 80% of production revenue on installation, with the remaining 20% deferred and recognised over the contract term to reflect the maintenance obligation.

This change has been applied prospectively from 01 January 2024, and prior year figures have not been restated. The impact of the change in the current year is a deferral of £572k of revenue.

Revenue recognition

Revenue is recognised when the company satisfies its performance obligations under customer contracts:

Manufacturing and Installation

Revenue is recognised at the point of delivery and installation of advertising structures, when control passes to the customer. A portion of the manufacturing and installation revenue (20%) is deferred and spread over the life of the contract as the company has an ongoing obligation to maintain the advertising structures.

Advertising Services

Revenue is recognised monthly over the period the advertising is displayed.

Concession Arrangements

Where the company operates under a revenue-sharing agreement with local councils, revenue is recognised gross. The council’s share is accrued as a liability based on contractual terms.

Deferred Income

Income received in advance of service delivery is deferred and recognised when the service is performed.

Rental Income

Revenue from rental income is recognised on a straight-line basis over the period of the rental agreement.

Goodwill

Goodwill relates to the amount paid in connection with the acquisition of two business as detailed below.

Outdo Transport Limited (previously Adverta Limited) acquired in 2022, is being amortised evenly over its estimated useful life of three years.

Lamppost Banners Limited acquired in 2024, is being amortised evenly over its estimated useful life of one year.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

33% on cost and 20% on cost

Motor vehicles

-

33% on cost and 20% on cost

Computer equipment

-

50% on cost, 33% on cost and 20% on cost

Tangible fixed assets are measured at cost then subsequently at cost less accumulated depreciation and impairment.

Freehold property

The directors consider that the freehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. The directors perform annual impairment reviews in accordance with FRS 102 to ensure that the carrying value is not lower than the recoverable amount.

Government grants

Revenue based grants are credited to the profit and loss account on receipt.

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

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

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

3.

TURNOVER

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

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

2024

2023

£

£

Revenue

12,728,875

10,644,196

12,728,875

10,644,196

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,007,207

1,791,268

Social security costs

141,804

209,395

Other pension costs

94,862

159,015

2,243,873

2,159,678

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

2024

2023

Directors

7

7

Direct & Administration

53

43

60

50

Key management remuneration is not disclosed as the directors are the only employees considered key management and disclosed separately.

The average number of employees by undertakings that were proportionately consolidated during the year was 60 (2023 - 50)

The Group maintains appropriate governance and oversight through clearly defined segregation of duties and internal controls within each subsidiary, ensuring effective control across the Group structure.

2024

2023

£

£

Directors' remuneration

88,263

37,483

Directors' pension contributions to money purchase schemes

65,272

121,319

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

Money purchase schemes

5

3