REGISTERED NUMBER: 02766713 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Urathon Europe Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

H J Sims-Hilditch

Mrs A Sims-Hilditch

Mrs L V Carson

SECRETARY:

Mrs A Sims-Hilditch

REGISTERED OFFICE:

14a Forest Gate

Pewsham

Chippenham

Wiltshire

SN15 3RS

REGISTERED NUMBER:

02766713 (England and Wales)

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

Urathon is an international manufacturing and supply chain organisation with headquarters in the UK. Urathon's main area of expertise is the production of aids for daily living and medical devices.

BUSINESS STRATEGY

- Customers can continue to purchase off-the-shelf products or opt for bespoke items, designed and manufactured with their own company branding.

- 2024 marked a successful first year in the retail sector for Urathon, generating approximately £400,000 in turnover.

- Looking ahead to 2025, the business will focus on strengthening established customer relationships and securing sole supply agreements to support long-term growth.

-Further expansion in the retail market remains a priority, with plans to increase Urathon's presence at sector-specific exhibitions and recruit additional sales personnel to support growth in this area.

- 2025 will also see the launch of Urathon's own Continuous Glucose Monitoring (CGM) device, representing a significant innovation milestone and the company's entry into the digital health market.

REVIEW OF BUSINESS

Turnover in 2024 increased by £1.4 million compared to 2023.This growth was primarily driven by higher sales to our largest customer and the successful establishment of Urathon in the retail market.

This follows a decline in turnover in 2023, where revenue decreased by approximately £1 million from the 2022 total of £11.7 million, largely due to reduced order volumes and the loss of certain customers.

PRINCIPAL RISKS AND UNCERTAINTIES

Container freight prices continue to fluctuate, and this can affect Urathon's Gross profit margins. Urathon also purchase stock in Chinese RMB and USD. The change in exchange rates can also have an adverse effect on final net profit margins.

KEY PERFORMANCE INDICATORS

The company monitors its performance on using a number of measures. These include:

Measure

2024

2023

Turnover

£12.1m

£10.7m

Gross profit

£2.7m

£2.8m

Net profit

£1.1m

£1.1m

Year end stock value

£1.8m

£1.3m

Cash at bank and in hand

£2.8m

£3.2m

The directors consider that these indicators reflect a year of solid performance, with favourable exchange rates, reduced freight costs, and operational improvements contributing to increased profitability. The company believes that the successful entry into the retail market in 2024 will provide a strong foundation for further turnover growth in the coming year.

ON BEHALF OF THE BOARD:

H J Sims-Hilditch - Director

22 September 2025

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

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 632,132 .

DIRECTORS

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

H J Sims-Hilditch

Mrs A Sims-Hilditch

Other changes in directors holding office are as follows:

Mrs L V Carson was appointed as a director after 31 December 2024 but prior to the date of this report.

I Batchelor ceased to be a director after 31 December 2024 but prior to the date of this report.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Sumer Auditco Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

H J Sims-Hilditch - Director

22 September 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;

- Reviewing the Company's legal costs to check for non-compliance with laws and regulations and fraud;

- Review of tax compliance with the involvement of our tax specialists in the audit;

- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of expenses;

- Testing transactions entered into outside of the normal course of the Company's business; and

- Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals with round numbers.

There are inherent limitations in the audit procedures described above and 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. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditor

14a Forest Gate

Pewsham

Chippenham

Wiltshire

SN15 3RS

25 September 2025

TURNOVER

4

12,053,595

10,721,707

Cost of sales

9,391,987

7,936,531

GROSS PROFIT

2,661,608

2,785,176

Distribution costs

131,728

83,193

Administrative expenses

1,336,274

1,293,444

1,468,002

1,376,637

1,193,606

1,408,539

Other operating income

3,600

3,600

OPERATING PROFIT

6

1,197,206

1,412,139

Interest receivable and similar income

22,837

22,963

1,220,043

1,435,102

Interest payable and similar expenses

8

6,830

-

PROFIT BEFORE TAXATION

1,213,213

1,435,102

Tax on profit

9

131,318

340,979

PROFIT FOR THE FINANCIAL YEAR

1,081,895

1,094,123

OTHER COMPREHENSIVE INCOME

Investment Property Revaluation

-

131,071

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

131,071

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,081,895

1,225,194

FIXED ASSETS

Tangible assets

11

427,825

428,830

Investment property

12

453,843

453,000

881,668

881,830

CURRENT ASSETS

Stocks

13

1,788,148

1,324,311

Debtors

14

2,845,909

2,659,914

Cash at bank and in hand

2,794,278

3,230,165

7,428,335

7,214,390

CREDITORS

Amounts falling due within one year

15

1,247,538

1,467,909

NET CURRENT ASSETS

6,180,797

5,746,481

TOTAL ASSETS LESS CURRENT LIABILITIES

7,062,465

6,628,311

PROVISIONS FOR LIABILITIES

18

43,323

58,932

NET ASSETS

7,019,142

6,569,379

CAPITAL AND RESERVES

Called up share capital

19

190,682

190,682

Retained earnings

20

6,828,460

6,378,697

SHAREHOLDERS' FUNDS

7,019,142

6,569,379

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

H J Sims-Hilditch - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

190,682

5,910,511

6,101,193

Changes in equity

Dividends

-

(757,008

)

(757,008

)

Total comprehensive income

-

1,225,194

1,225,194

Balance at 31 December 2023

190,682

6,378,697

6,569,379

Changes in equity

Dividends

-

(632,132

)

(632,132

)

Total comprehensive income

-

1,081,895

1,081,895

Balance at 31 December 2024

190,682

6,828,460

7,019,142

Cash flows from operating activities

Cash generated from operations

1

537,487

1,770,277

Interest paid

(6,830

)

-

Tax paid

(258,671

)

(3,259

)

Taxation refund

-

43,153

Net cash from operating activities

271,986

1,810,171

Cash flows from investing activities

Purchase of tangible fixed assets

(110,074

)

(140,260

)

Purchase of investment property

(843

)

-

Sale of tangible fixed assets

12,350

229,775

Interest received

22,837

22,963

Net cash from investing activities

(75,730

)

112,478

Cash flows from financing activities

Amount introduced by directors

-

(207

)

Amount withdrawn by directors

(11

)

-

Equity dividends paid

(632,132

)

(757,008

)

Net cash from financing activities

(632,143

)

(757,215

)

(Decrease)/increase in cash and cash equivalents

(435,887

)

1,165,434

Cash and cash equivalents at beginning of year

2

3,230,165

2,064,731

Cash and cash equivalents at end of year

2

2,794,278

3,230,165

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

2024

2023

£

£

Profit before taxation

1,213,213

1,435,102

Depreciation charges

98,306

176,374

Loss/(profit) on disposal of fixed assets

519

(29,423

)

Finance costs

6,830

-

Finance income

(22,837

)

(22,963

)

1,296,031

1,559,090

Increase in stocks

(463,837

)

(461,749

)

(Increase)/decrease in trade and other debtors

(185,996

)

400,619

(Decrease)/increase in trade and other creditors

(108,711

)

272,317

Cash generated from operations

537,487

1,770,277

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,794,278

3,230,165

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

3,230,165

2,064,731

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

3,230,165

(435,887

)

2,794,278

3,230,165

(435,887

)

2,794,278

Total

3,230,165

(435,887

)

2,794,278

1.	STATUTORY INFORMATION

Urathon Europe 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 (£).

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 are prepared on a going concern basis, under the historical cost convention. The principal accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted FRS 102 in these financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company 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 requirement of paragraph 33.7.

The Company has applied the exemption available under paragraph 33.7 as key management personnel are deemed to be the directors of the company, therefore no additional disclosure is required.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- The company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- The company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;

- The amount of revenue can be measured reliably;

- It is probable that the economic benefits associated with the transaction can be measured reliably;

Turnover earned but not billed to customers is included in trade debtors and amounts billed in advance of the revenue being recognised are included in deferred income.

Sales of goods are recognised on transfer of title of the goods on dispatch.

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

-

4% on a straight line basis

Plant and machinery

-

10% on straight line basis

Fixtures and fittings

-

10% on straight line basis

Motor vehicles

-

25% on straight line basis

Computer equipment

-

33% on straight line basis and 20% on straight line basis

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and impairment losses.

Repairs and maintenance costs are expensed as incurred.

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.

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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

Share capital

Ordinary shares are classified as equity.

Dividends

Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Interest income

Interest income is recognised using the effective interest rate method.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

4.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

9,548,652

7,820,521

Europe

1,318,667

1,342,699

Rest of world

1,186,276

1,558,487

12,053,595

10,721,707

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

682,796

618,064

Social security costs

90,990

68,139

Other pension costs

4,150

2,552

777,936

688,755

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

2024

2023

Directors and management

4

4

Admin and finance

4

4

Sales

1

1

Engineering

2

2

Purchasing and logistics

3

3

Warehouse

3

2

17

16

2024

2023

£

£

Directors' remuneration

138,460

135,945

6.	OPERATING PROFIT

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

2024

2023

£

£

Depreciation - owned assets

98,210

176,376

Loss/(profit) on disposal of fixed assets

519

(29,423

)

Auditors' remuneration

32,234

18,000

7.	EXCEPTIONAL ITEMS

2024

2023

£

£

Loan write off

(22,137

)

-

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Late VAT payment interest

3,509

-

Fines and penalties

3,321

-

6,830

-

9.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

160,500

257,505

Previous year tax adjustment

(13,573

)

-

Total current tax

146,927

257,505

Deferred tax

(15,609

)

83,474

Tax on profit

131,318

340,979