REGISTERED NUMBER: 09200863 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COMECA UK LIMITED

Page

Company information

1

Strategic report

2

to

3

Report of the directors

4

to

5

Report of the independent auditors

6

to

9

Statement of income and retained earnings

10

Statement of financial position

11

Statement of cash flows

12

Notes to the statement of cash flows

13

Notes to the financial statements

14

to

19

DIRECTORS:

G D L Rochere

Volta Developpement

REGISTERED OFFICE:

Unit A5 Fraylings Business Park

Davenport Street

Stoke-On-Trent

Staffordshire

ST6 4LN

REGISTERED NUMBER:

09200863 (England and Wales)

AUDITORS:

Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

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

COMECA UK Limited is a medium-sized company that specializes in providing equipment and services dedicated to distribute, optimize and master the energy, to B2B customers across the wold. The company was founded in 3 September 2014 and has since become a key player in Manufacture of electricity distribution and control apparatus.

The Registered Office of the company is Unit A5 Fraylings Business Park, Davenport Street, Burslem, Stoke on Trent, Staffordshire, 5T6 4LN, and the company number: 9200863

COMECA UK Limited operates in a manufacturing of electricity distribution and control apparatus The business model is centered around delivering high-quality product and service to our customers, focusing on, customer service. Our main revenue streams include sales of products and services.

We are committed to continuously adapting our offerings to meet customer demands, incorporating technological advancements, and adhering to industry regulations.

REVIEW OF BUSINESS

Financial Performance

For the year ended 31 December 2024, COMECA UK Limited has shown a challenging performance. Key financial highlights include:

- Revenue: £ 16 156 422 (compared to £ 20 318 207 in 2023), reflecting a decline of 20%.

- Operating Profit: £ 941 994, a decline of 59% compared to the previous year

- Net Profit: £ 703 713 representing a decline of 60 % year-over-year

These figures reflect the company's market conditions.

Strategic Objectives and Achievements

In 2024, COMECA UK Limited focused on cost optimization and developing our business, which have been crucial in our performance and positioning in the market. Our strategic priorities included:

- Developing business: Business growth has not reached the expected level. We expect to see our efforts materialized in 2025.

- Cost Optimization: Implemented cost-saving measures that resulted in a reduction in administration expenses by 9%.

These initiatives have helped COMECA UK Limited to strengthen its market position and increase profitability.

PRINCIPAL RISKS AND UNCERTAINTIES

As part of our risk management process, COMECA UK Limited actively monitors and addresses the risks that could affect our business. The principal risks faced by the company are:

- Economic Conditions: Volatile economic conditions, including inflation and interest rates, could impact consumer spending and our cost base.

- Regulatory Changes: Changes in laws or regulations, particularly in the nuclear sector, could have a significant impact on our operations.

- Supply Chain Disruptions: Ongoing global supply chain challenges may affect our ability to source raw materials, resulting in delays or increased costs.

- Cybersecurity Threats: Increased cyber-attacks and data breaches pose a potential risk to our IT infrastructure and customer trust.

- Competition: Intense competition within the industry may impact market share and profitability.

The company has established contingency plans and risk mitigation strategies, including diversifying suppliers, investing in cybersecurity, and maintaining financial reserves.

CORPORATE GOVERNANCE AND LEADERSHIP

COMECA UK Limited is committed in maintaining the highest standards of corporate governance. The Board of Directors, led by Gaël Dutheil de la Rochère, consists of experienced professionals. The Board's primary responsibility is to ensure that the company is managed effectively in the best interests of its shareholders and stakeholders.

In 2024, the Board focused on:

- Strengthening internal controls and corporate governance practices.

- Ensuring compliance with the UK Corporate Governance Code.

- Enhancing shareholder engagement and transparency.

SUSTAINABILITY AND CORPORATE SOCIAL RESPONSIBILITY (CSR)

COMECA UK Limited takes its responsibilities to society and the environment seriously. Key CSR activities in 2024 included:

- Sustainability: Reduced environmental impact through energy-efficient practices and the introduction of eco-friendly products.

Going forward, the company will continue to focus on reducing emissions.

OUTLOOK FOR 2025 AND BEYOND

Looking ahead, COMECA UK Limited remains confident in its ability to navigate market challenges and capitalize on growth opportunities. Our strategic focus will remain on:

- Expanding into new markets and growing our product portfolio.

- Leveraging technology to enhance operational efficiency.

- Continuing our commitment to sustainability and CSR.

The outlook for the company in 2025 is positive based on market conditions.

ON BEHALF OF THE BOARD:

G D L Rochere - Director

6 June 2025

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

DIVIDENDS

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

DIRECTORS

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

G D L Rochere

Volta Developpement

DISCLOSURE IN THE STRATEGIC REPORT

The company 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 company's strategic report information

required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports)

Regulations 2008 including future developments of the company.

The strategic report can be found on page 2 of these financial statements.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors Sumer Auditco Limited are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

G D L Rochere - Director

6 June 2025

Qualified Opinion

We have audited the financial statements of Comeca UK Limited (the Company), which comprise the statement of financial position as at 31 December 2024, and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial statements give a true and fair view, in all material respects, of the financial position of the Company as at 31 December 2024, and (of) its financial performance and its cash flows for the year then ended in accordance with Financial Reporting Standard 102.

Basis for qualified opinion

The Company’s inter group balance presented in Euros is carried in the statement of financial position at £27,472,273. Management has not retranslated the inter group balance at the year end rate which is a departure from Financial Reporting Standard FRS102. The Company’s records indicate that, had management stated the inter group balance at the year end rate, an adjustment of £1,280,297 would have been required to retranslate the balance to the year end rate . Accordingly, costs would have increased by £1,280,297, corporation tax reduced by £315,156 and shareholders equity would have reduced by £965,141.

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s 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, 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 qualified 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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit

evidence that is sufficient and appropriate to provide a basis for our opinion.

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, we considered the following:

•

the nature of the industry and sector, control environment and business performance including the design of the company remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

•

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

•

any matters we identified having obtained and reviewed the company documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

-

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 risks of fraud or non-compliance with laws and regulations;

•

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the company risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we did not identify any key audit matters related to the potential risk of

fraud or irregularities. Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

-

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Helen Tidyman (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

6 June 2025

TURNOVER

16,156,422

20,318,207

Cost of sales

(12,892,626

)

(15,495,012

)

GROSS PROFIT

3,263,796

4,823,195

Administrative expenses

(2,321,802

)

(2,549,469

)

OPERATING PROFIT and

PROFIT BEFORE TAXATION

941,994

2,273,726

Tax on profit

5

(238,281

)

(529,928

)

PROFIT FOR THE FINANCIAL YEAR

703,713

1,743,798

Retained earnings at beginning of year

6,682,993

4,939,195

RETAINED EARNINGS AT END OF YEAR

7,386,706

6,682,993

FIXED ASSETS

Intangible assets

6

39,704

-

Tangible assets

7

27,900

35,683

67,604

35,683

CURRENT ASSETS

Debtors

8

33,675,080

26,973,636

Cash at bank

145,996

-

33,821,076

26,973,636

CREDITORS

Amounts falling due within one year

9

(26,471,974

)

(20,296,326

)

NET CURRENT ASSETS

7,349,102

6,677,310

TOTAL ASSETS LESS CURRENT LIABILITIES

7,416,706

6,712,993

CAPITAL AND RESERVES

Called up share capital

11

30,000

30,000

Retained earnings

12

7,386,706

6,682,993

SHAREHOLDERS' FUNDS

7,416,706

6,712,993

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

G D L Rochere - Director

Cash flows from operating activities

Cash generated from operations

1

899,475

282,917

Tax paid

(712,083

)

(251,251

)

Net cash from operating activities

187,392

31,666

Cash flows from investing activities

Purchase of intangible fixed assets

(39,704

)

-

Purchase of tangible fixed assets

(1,692

)

(31,666

)

Net cash from investing activities

(41,396

)

(31,666

)

Increase in cash and cash equivalents

145,996

-

Cash and cash equivalents at beginning of year

2

-

-

Cash and cash equivalents at end of year

2

145,996

-

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

31.12.24

31.12.23

(Unaudited)

£

£

Profit before taxation

941,994

2,273,726

Depreciation charges

9,475

5,316

951,469

2,279,042

Increase in trade and other debtors

(1,715,992

)

(1,688,315

)

Increase/(decrease) in trade and other creditors

1,663,998

(307,810

)

Cash generated from operations

899,475

282,917

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

145,996

-

Year ended 31 December 2023

31.12.23

1.1.23

(Unaudited)

£

£

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

-

145,996

145,996

-

145,996

145,996

Total

-

145,996

145,996

1.	STATUTORY INFORMATION

Comeca 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 Company Information page.

The presentation currency of the financial statements is the Pound sterling (£) which is also the functional currency. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Significant judgements and estimates

The preparation of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience of other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Deferred income and long term contracts

Deferred income represents the income and costs associated with long term contracts by reference to the stage of completion at the year end. Stage of completion is measured by the proportion of costs incurred for work performed to date compared to the total estimated costs.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and the provision of services in the ordinary course of the company' activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

It is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

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.

Development costs are being amortised evenly over their estimated useful life of 5-7 years.

Tangible fixed assets

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

Fixtures and fittings

-

20% reducing balance

Computer equipment

-

33% on cost

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.

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.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

(Unaudited)

£

£

Wages and salaries

984,231

977,586

Other pension costs

83,362

79,700

1,067,593

1,057,286

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

31.12.24

31.12.23

(Unaudited)

Staff

19

16

31.12.24

31.12.23

(Unaudited)

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

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

31.12.24

31.12.23

(Unaudited)

£

£

Other operating leases

100,133

53,163

Depreciation - owned assets

9,475

5,316

Foreign exchange differences

(251,109

)

96,595

5.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

(Unaudited)

£

£

Current tax:

UK corporation tax

238,281

529,928

Tax on profit

238,281

529,928

Reconciliation of total tax charge included in profit and loss

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

31.12.24

31.12.23

(Unaudited)

£

£

Profit before tax

941,994

2,273,726

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.521%)

235,499

534,803

Effects of:

Expenses not deductible for tax purposes

836

1,525

Capital allowances in excess of depreciation

-

(6,400

)

Depreciation in excess of capital allowances

1,946

-

Total tax charge

238,281

529,928

6.	INTANGIBLE FIXED ASSETS

Developme

costs

£

Cost

Additions

39,704

At 31 December 2024

39,704

Net book value

At 31 December 2024

39,704

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2024

42,908

34,296

77,204

Additions

817

875

1,692

At 31 December 2024

43,725

35,171

78,896

Depreciation

At 1 January 2024

12,903

28,618

41,521

Charge for year

6,408

3,067

9,475

At 31 December 2024

19,311

31,685

50,996

Net book value

At 31 December 2024

24,414

3,486

27,900

At 31 December 2023

30,005

5,678

35,683

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Trade debtors

648,549

790,425

Amounts owed by group undertakings

27,472,273

22,922,497

Other debtors

961,407

2,032,568

Prepayments and accrued income

4,592,851

1,228,146

33,675,080

26,973,636

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Trade creditors

4,834,435

5,122,290

Amounts owed to group undertakings

14,224,334

9,238,882

Tax

56,126

529,928

Social security and other taxes

14,097

33,620

VAT

908,035

1,190,383

Other creditors

1,733

-

Accruals and deferred income

6,433,214

4,181,223

26,471,974

20,296,326

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

(Unaudited)

£

£

Within one year

108,801

108,801

Between one and five years

299,203

408,004

408,004

516,805

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

30

Ordinary shares

1000

30,000

30,000

12.

RESERVES

Retained

earnings

£

At 1 January 2024

6,682,993

Profit for the year

703,713

At 31 December 2024

7,386,706