REGISTERED NUMBER: 02810647 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Lucent Lighting Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Mrs V A Dunk

M J D Dunk

Mrs L A Sidwell

SECRETARY:

Mrs V A Dunk

REGISTERED OFFICE:

Unit 7-8 Great Cambridge Industrial Est

Lincoln Road

Enfield

London

EN1 1SH

REGISTERED NUMBER:

02810647 (England and Wales)

SENIOR STATUTORY AUDITOR:

Nicola Worbey FCA

AUDITORS:

GREGORY WILDMAN

Chartered Accountants

Statutory Auditors

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

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

REVIEW OF BUSINESS

As shown in the company's statement of comprehensive income, the turnover for the year of £10,773,942 has shown a 2.1% decrease in turnover over the previous year, which has resulted in a gross profit of £4,639,926 (2023 - £4,766,531) and a profit on ordinary activities before tax of £124,176 (2023 - £436,309).

In 2024, Lucent Lighting continued to build momentum as a global leader in the architectural lighting industry, maintaining a strong focus on innovation, sustainability, and design excellence. The company's portfolio expanded further, particularly in advanced energy-efficient and customisable LED solutions designed to meet the evolving needs of both commercial and residential sectors.

Sustainability remained central to our strategy. Lucent successfully launched several new product ranges manufactured with over 85% recycled materials and designed to be 99% recyclable. Each of these ranges achieved a TM66 'Excellent' circularity rating, marking an important milestone in our commitment to circular design and in responding to the growing demand for environmentally responsible products.

Despite ongoing economic and supply chain pressures, Lucent delivered steady growth throughout 2024, underpinned by strong relationships in the Middle East. These achievements reinforced the company's reputation as a trusted partner in delivering cutting-edge, sustainable lighting solutions worldwide.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit risk

The company manages its credit risk through maintaining strong links with its customers. Management review credit terms and overdue balances regularly.The company takes payments in advance to mitigate credit risks on orders.

Foreign exchange risk

The functional currency is GB sterling. The directors believe that the main risk to the company is from fluctuations in the value of the Dollar, as most stock purchases are made in Dollars. The directors mitigate this risk by holding reserves of Dollars from sales made, and only transferring Dollars into GB sterling where there is an excess.

The company is exposed to a exchange rate risk on balances invoiced in US Dollars and Euros. Management monitor exposure to exchange rate risk and where appropriate will consider the use of hedging instruments.

Foreign exchange differences on the revaluation of foreign currency assets and liabilities are taken to the profit and loss account.

Liquidity and cashflow risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The group ensures that there are adequate funds available to meet its operational requirements.

FINANCIAL INSTRUMENTS

Financial risk management objectives and policies

The company's principal financial instruments comprise bank balances, including bank loans and overdrafts, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of an overdraft at floating rates of interest. The business' cash balances are held in such a way that achieves a competitive rate of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditor's liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ON BEHALF OF THE BOARD:

M J D Dunk - Director

24 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of manufacture and sales through specification of energy efficient, architectural grade lighting fixtures sold and distributed internationally.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 385,021 .

FUTURE DEVELOPMENTS

Looking ahead, Lucent Lighting will accelerate its investment in sustainable innovation, building on the foundations laid in 2024. A key priority will be our proactive response to the pending Part L initiative, ensuring that an increasing share of our portfolio complies with the proposed requirements - future-proofing the business for the long term.

The company will also continue to explore alternative materials and low-carbon manufacturing processes as part of its pathway to achieving Net Zero by 2045. With global demand for sustainable, high-performance lighting solutions continuing to rise, Lucent is well positioned to expand its product range, strengthen international partnerships, and consolidate its position as the first-choice lighting company worldwide.

Our secure relationships and strategic partnerships in the Middle East will remain a priority, complemented by the continued growth of our London Sales Team. Together with our network of new agents, architects, and designers, these teams have already secured a number of high-profile projects, with a strong pipeline of opportunities for the year ahead.

DIRECTORS

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

Mrs V A Dunk

M J D Dunk

Mrs L A Sidwell

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 and in accordance with UK GAAP.

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- 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, GREGORY WILDMAN, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M J D Dunk - Director

24 September 2025

Opinion

We have audited the financial statements of Lucent Lighting Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the company operates focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations in this context were the Companies Act 2006. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statements.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.

Our audit procedures to respond to these risks, performed by the engagement team, included:

- Enquiries of management, and the Directors about their own identification and assessment of the risks of the irregularities, reviewing accounting estimates for biases and reviewing regulatory correspondence;

- Performing audit work over the risk of management override of controls, including test of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

- Reviewing financial statement disclosures and testing to supporting documentation to access compliance with applicable laws and regulations;

- We have confirmed the income recognition basis is appropriate, tested a sample of income transactions to confirm completeness, tested a sample of journals to confirm they were appropriate and reviewed areas of judgment for indicators of management bias to address these risks.

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

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.

Nicola Worbey FCA (Senior Statutory Auditor)

for and on behalf of GREGORY WILDMAN

Chartered Accountants

Statutory Auditors

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

25 September 2025

TURNOVER

3

10,773,942

11,005,810

Cost of sales

6,134,016

6,239,279

GROSS PROFIT

4,639,926

4,766,531

Administrative expenses

4,488,767

4,293,832

OPERATING PROFIT

6

151,159

472,699

Interest payable and similar expenses

8

26,983

36,390

PROFIT BEFORE TAXATION

124,176

436,309

Tax on profit

9

26,248

107,566

PROFIT FOR THE FINANCIAL YEAR

97,928

328,743

PROFIT FOR THE YEAR

97,928

328,743

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

97,928

328,743

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

376,450

443,422

376,450

443,422

CURRENT ASSETS

Stocks

13

3,397,337

2,909,360

Debtors

14

1,613,896

2,619,969

Cash at bank and in hand

530,798

78,425

5,542,031

5,607,754

CREDITORS

Amounts falling due within one year

15

3,020,665

2,733,399

NET CURRENT ASSETS

2,521,366

2,874,355

TOTAL ASSETS LESS CURRENT LIABILITIES

2,897,816

3,317,777

CREDITORS

Amounts falling due after more than one year

16

(67,420

)

(175,481

)

PROVISIONS FOR LIABILITIES

20

(106,850

)

(131,657

)

NET ASSETS

2,723,546

3,010,639

CAPITAL AND RESERVES

Called up share capital

21

100

100

Capital redemption reserve

22

25,000

25,000

Retained earnings

22

2,698,446

2,985,539

SHAREHOLDERS' FUNDS

2,723,546

3,010,639

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

M J D Dunk - Director

Mrs V A Dunk - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

100

3,232,115

25,000

3,257,215

Changes in equity

Dividends

-

(575,319

)

-

(575,319

)

Total comprehensive income

-

328,743

-

328,743

Balance at 31 December 2023

100

2,985,539

25,000

3,010,639

Changes in equity

Dividends

-

(385,021

)

-

(385,021

)

Total comprehensive income

-

97,928

-

97,928

Balance at 31 December 2024

100

2,698,446

25,000

2,723,546

1.	STATUTORY INFORMATION

Lucent Lighting 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.	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.

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 requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1993, has been fully amortised over its estimated useful life of twenty years.

Intangible assets

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

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Capitalised dilapidations - over the period of the lease.

Improvements to property - over the period of the lease.

Plant and machinery - 30% on cost.

Fixtures and fittings - 30% on cost.

Motor vehicles - 25% on reducing balance.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Net realisable value is based on the estimated selling price less any further costs expected to be incurred to completion and disposal.

Prior to February 2023, the value of stock was on a FIFO basis. In the year to 31st December 2023, the company introduced a new accounting software. The new accounting software only allows the stock to be valued under AVCO basis. Due to the nature of the industry and stock items, this is deemed to be an appropriate valuation for stock and a fair representation of the financial statements. Due to the above nature of the policy change, and volume of stock items and purchases, it is deemed impracticable to determine the value of this change.

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 taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominate in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

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 company operated a defined contribution pension scheme for the benefit of its employees. The pension cost charged for the period represents contributions payable by the company to the scheme and amounts to £79,352 (2023 - £73,926).

At the balance sheet date the company had unpaid pension liabilities of £21,128 (2023 - £18,569).

Judgement and key sources of estimation uncertainty

Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies. Further details are contained in note 20.

Impairment of non financial assets

Where there are indicators of impairment of individual assets the company performs impairment testing based on fair value less costs to sell. The fair value less costs to sell calculation is based on observable market prices less incremental costs for disposing of the asset. If the fair value less costs to sell is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss.

An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand, and short term deposits with an original maturity date of three months or less. For the purposes of the cash flow, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from the impairment are recongised in the income statement in other operation expenses.

3.

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:

31.12.24

31.12.23

£

£

United Kingdom

4,898,440

5,407,827

Rest of the world

5,875,502

5,597,983

10,773,942

11,005,810

The company operates within one principal activity, that of manufacture and sales through specification of energy efficient, architectural grade lighting fixtures sold and distributed internationally.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

2,410,497

2,235,858

Social security costs

225,153

218,867

Other pension costs

79,352

73,926

2,715,002

2,528,651

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

31.12.24

31.12.23

Administration

10

13

Sales

10

8

Warehouse

23

19

43

40

5.	DIRECTORS' EMOLUMENTS

31.12.24

31.12.23

£

£

Directors' remuneration

252,934

240,751

Directors' pension contributions to money purchase schemes

24,750

24,750

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

Money purchase schemes

3

3

Information regarding the highest paid director is as follows:

31.12.24

31.12.23

£

£

Emoluments etc

201,008

194,916

Pension contributions to money purchase schemes

4,750

4,750

6.	OPERATING PROFIT

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

31.12.24

31.12.23

£

£

Other operating leases

244,408

271,872

Depreciation - owned assets

98,563

91,229

Depreciation - assets on hire purchase contracts

42,556

24,311

Foreign exchange differences

(3,927

)

13,827

7.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

43,595

42,505

Auditors' remuneration for non audit work

31,915

33,498

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank interest

3,627

9,798

Bank loan interest

11,392

15,737

Tax late payment interest

1,849

5,832

Hire purchase

10,115

5,023

26,983

36,390

9.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

51,055

97,663

Deferred tax

(24,807

)

9,903

Tax on profit

26,248

107,566

Reconciliation of total tax charge included in profit and loss

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

31.12.24

31.12.23

£

£

Profit before tax

124,176

436,309

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

31,044

102,620

Effects of:

Expenses not deductible for tax purposes

6,527

(612

)

Capital allowances in excess of depreciation

(11,323

)

-

Depreciation in excess of capital allowances

-

5,558

Total tax charge

26,248

107,566

10.

DIVIDENDS

31.12.24

31.12.23

£

£

A Ordinary shares of £1 each

Interim

385,021

575,319

11.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

72,801

AMORTISATION

At 1 January 2024

and 31 December 2024

72,801

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

12.	TANGIBLE FIXED ASSETS

Improvements

Capitalised

to

Plant and

dilapidations

property

machinery

£

£

£

COST

At 1 January 2024

86,000

169,385

555,587

Additions

-

-

69,811

Disposals

(20,000

)

-

-

At 31 December 2024

66,000

169,385

625,398

DEPRECIATION

At 1 January 2024

68,050

123,281

492,457

Charge for year

6,481

19,530

41,267

Eliminated on disposal

(20,000

)

-

-

At 31 December 2024

54,531

142,811

533,724

NET BOOK VALUE

At 31 December 2024

11,469

26,574

91,674

At 31 December 2023

17,950

46,104

63,130

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

370,747

239,949

1,421,668

Additions

4,336

-

74,147

Disposals

-

-

(20,000

)

At 31 December 2024

375,083

239,949

1,475,815

DEPRECIATION

At 1 January 2024

226,759

67,699

978,246

Charge for year

30,779

43,062

141,119

Eliminated on disposal

-

-

(20,000

)

At 31 December 2024

257,538

110,761

1,099,365

NET BOOK VALUE

At 31 December 2024

117,545

129,188

376,450

At 31 December 2023

143,988

172,250

443,422

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

201,124

DEPRECIATION

At 1 January 2024

30,899

Charge for year

42,556

At 31 December 2024

73,455

NET BOOK VALUE

At 31 December 2024

127,669

At 31 December 2023

170,225

13.

STOCKS

31.12.24

31.12.23

£

£

Finished goods

3,007,521

2,909,360

Goods in transit

389,816

-

3,397,337

2,909,360