REGISTERED NUMBER: 05030390 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FRANK SUTTON LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

9

Statement of Financial Position

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

14

DIRECTORS:

C F Sutton

Mrs M Sutton

B F Sutton

SECRETARY:

Mrs M Sutton

REGISTERED OFFICE:

Castle Garage

Cuckoos Row

Raglan

Monmouthshire

NP15 2HH

REGISTERED NUMBER:

05030390 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

(Statutory Auditor)

Court House

Court Road

Bridgend

CF31 1BE

SOLICITORS:

Gabb and Co

Old Bank House

Beaufort Street

Crickhowell

Powys

NP8 1AD

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

REVIEW OF BUSINESS

The company's principal activity during the year continued to be that of the supply and maintenance of

agricultural and turf machinery in the new and second-hand market. The company is a main dealer for the sale and maintenance of John Deere and Kramer equipment and a variety of other brands relevant to this market.

During the year the company experienced a fall in turnover of 9% following rise in 2023 of 24%. The company trades in diverse markets across Wales and into Southern England. The directors are committed to the ongoing development of the company, seeking new customers and markets whilst continuing to deliver an excellent service to its existing customer base.

In 2024 turnover decreased slightly due to an uncertainty in the marketplace with regards to food production and government policies. Other sectors of the business also returned healthy margins such as Turf Care, with more customers investing in our products due to the reliability, service and support we deliver. Our Retail Finance arm of the business continues to grow with more customers seeking new ways to fund their machinery purchases. The continuing aim of the directors is to use the strong financial and marketplace position of the company to deliver ongoing growth and reinforce the strong foundation of a unique business model.

Continuing to remain profitable and yield a high turnover going forward is the result of a solid business foundation built on long established family values and a solid understanding of our customers values and expectations. Continued growth in the construction market with the Caterpillar Construction franchise has proved very successful as a new customer segment has been opened to the company. This involves the sale, service and repair of Caterpillar construction machinery into our trading area. Both company sites at Raglan and Bridgend continued to perform well both delivering a resilient trading performance.

The company continues to embrace new technology offering real time remote diagnostics of machinery and remote air programming and programme updates. This results in less disruption for customers increasing product satisfaction. Continual development of both sites is ongoing, resulting in modern showrooms and display areas. The use of technology continues to increase in agriculture and the Company is continuing to seek ongoing growth with this equipment and support our customers.

The directors remain committed to the John Deere and Kramer brands and the market share for John Deere tractors in the region is over 30% which is higher than the national average. The directors are delighted with the trading results in such an uncertain market place. The company has retained all its franchise accreditations and approvals.

The 2025 year has started well with healthy current levels of sales, but the company is wary of ongoing high costs which are affecting customers profit margins.

The directors are satisfied with the trading results returned in a year of change and ongoing development. They are also pleased to be able to report a further strengthening of the balance sheet position of the company which sees further improvement in short term liquidity and reports significant distributable reserves putting the company in a strong position to develop and expand.

The directors continue to be aware of the cash flow challenges faced by an expanding business but feel confident that as they have done so far in the development of the company they will be able to fund growth as it develops from the various third party financial resources they have worked with so far and by using the directors own sources of finance.

REVIEW OF BUSINESS

Financial Key Performance Indicators

The company uses a range of performance measures to monitor and manage the business effectively.

These are both financial and and non-financial and the most significant of these are the key performance indicators (KPl's). The KPl's for the year ended 31 December 2024 with comparatives for 2023 and 2022 are summarised as follows:

2024

2023

2022

£

£

£

Turnover

22,194,259

24,416,306

19,501,949

Turnover growth

-9%

25%

0.004%

Gross profit margin

10%

9%

10%

Profit before tax

426,201

575,175

1,017,092

PRINCIPAL RISKS AND UNCERTAINTIES

The company is exposed to price, credit, liquidity and cash flow risks as it trades from day to day. The company manages these risks by financing its operations through retained profits, use of an overdraft, main dealer finance plans, long term bank and shareholder borrowings where necessary.

The management objectives are to retain sufficient liquid funds in the business to enable it to meet its day to day requirements, minimise the company's exposure to fluctuating cash flows, and ensure that the business maintains and monitors its plans to manage 'spikes' in cash outflows caused by VAT and significant supplier payments.

The company makes little use of financial instruments other than standard overdraft funding, a bank loan and an operational bank account so it's exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company.

ON BEHALF OF THE BOARD:

B F Sutton - Director

26 September 2025

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

DIVIDENDS

An interim dividend of £260 per share was paid on 18 November 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 260,000 .

DIRECTORS

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

C F Sutton

Mrs M Sutton

B F Sutton

DISCLOSURE IN THE STRATEGIC REPORT

Matters in respect of future developments and post balance sheet events have been outlined in the strategic report on pages 2 and 3.

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). 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, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

B F Sutton - Director

26 September 2025

Opinion

We have audited the financial statements of Frank Sutton Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 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:

The audit was planned on the basis that the testing undertaken and procedures carried out would have a reasonable expectation of detecting any instances of irregularity including fraud. The plan involved assessing the risk of the financial statements containing material misstatements taking into account various factors such as the control systems in place, the standard of record keeping and an assessment of the influence and role of the stakeholders involved. The audit plan was followed and benefitted from the audit teams knowledge of the client. They considered how fraud may occur and where the financial statements may be susceptible to error.

Suitable transaction sample testing was made on the high risk areas of the financial statements. Enquiries were made of the company directors for information and explanations as required during the course of the audit and any contentious areas appropriately challenged to ensure that sufficient audit evidence was obtained.

The procedures and testing undertaken as a result of our risk assessments were deemed sufficient to identify material errors for which adjustment was then made in the financial statements. There is however no guarantee that all errors, including those related to fraud, would be identified as part of the audit.

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.

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.

Nigel Williams BCom FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

(Statutory Auditor)

Court House

Court Road

Bridgend

CF31 1BE

26 September 2025

TURNOVER

3

22,194,259

24,416,306

Cost of sales

20,057,207

22,217,891

GROSS PROFIT

2,137,052

2,198,415

Administrative expenses

1,465,040

1,230,154

OPERATING PROFIT

5

672,012

968,261

Interest payable and similar expenses

6

245,811

393,086

PROFIT BEFORE TAXATION

426,201

575,175

Tax on profit

7

108,423

240,469

PROFIT FOR THE FINANCIAL YEAR

317,778

334,706

Retained earnings at beginning of year

3,037,438

2,962,732

Dividends

8

(260,000

)

(260,000

)

RETAINED EARNINGS AT END OF YEAR

3,095,216

3,037,438

FIXED ASSETS

Tangible assets

9

964,390

849,746

CURRENT ASSETS

Stocks

10

8,781,849

10,292,002

Debtors

11

2,316,188

1,805,610

Cash in hand

1,025

1,697

11,099,062

12,099,309

CREDITORS

Amounts falling due within one year

12

7,604,670

9,266,360

NET CURRENT ASSETS

3,494,392

2,832,949

TOTAL ASSETS LESS CURRENT LIABILITIES

4,458,782

3,682,695

CREDITORS

Amounts falling due after more than one year

13

(1,121,468

)

(502,500

)

PROVISIONS FOR LIABILITIES

17

(241,098

)

(141,757

)

NET ASSETS

3,096,216

3,038,438

CAPITAL AND RESERVES

Called up share capital

18

1,000

1,000

Retained earnings

19

3,095,216

3,037,438

SHAREHOLDERS' FUNDS

3,096,216

3,038,438

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

B F Sutton - Director

Cash flows from operating activities

Cash generated from operations

1

175,924

480,989

Interest paid

(52,848

)

(18,532

)

Interest element of hire purchase payments paid

(192,963

)

(374,554

)

Tax paid

(229,065

)

(95,223

)

Net cash from operating activities

(298,952

)

(7,320

)

Cash flows from investing activities

Purchase of tangible fixed assets

(695,500

)

(805,299

)

Sale of tangible fixed assets

400,413

293,500

Net cash from investing activities

(295,087

)

(511,799

)

Cash flows from financing activities

Loan repayments in year

(10,000

)

(10,000

)

Capital repayments in year

898,402

625,953

Decrease/(increase) in intercompany

(53,131

)

20,088

Equity dividends paid

(260,000

)

(260,000

)

Net cash from financing activities

575,271

376,041

Decrease in cash and cash equivalents

(18,768

)

(143,078

)

Cash and cash equivalents at beginning of year

2

(508,547

)

(365,469

)

Cash and cash equivalents at end of year

2

(527,315

)

(508,547

)

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

2024

2023

£

£

Profit before taxation

426,201

575,175

Depreciation charges

334,476

323,005

Profit on disposal of fixed assets

(154,033

)

(140,687

)

Decrease/(increase) in AROC

-

71,816

Finance costs

245,811

393,086

852,455

1,222,395

Decrease/(increase) in stocks

1,510,153

(1,220,641

)

(Increase)/decrease in trade and other debtors

(457,447

)

729,315

Decrease in trade and other creditors

(1,729,237

)

(250,080

)

Cash generated from operations

175,924

480,989

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

1,025

1,697

Bank overdrafts

(528,340

)

(510,244

)

(527,315

)

(508,547

)

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,697

166

Bank overdrafts

(510,244

)

(365,635

)

(508,547

)

(365,469

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,697

(672

)

1,025

Bank overdrafts

(510,244

)

(18,096

)

(528,340

)

(508,547

)

(18,768

)

(527,315

)

Debt

Finance leases

(2,281,877

)

(898,402

)

(3,180,279

)

Debts falling due within 1 year

(10,000

)

-

(10,000

)

Debts falling due after 1 year

(14,774

)

10,000

(4,774

)

(2,306,651

)

(888,402

)

(3,195,053

)

Total

(2,815,198

)

(907,170

)

(3,722,368

)

1.	STATUTORY INFORMATION

Frank Sutton 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.

Significant judgements and estimates

a. Useful economic life of tangible assets

The useful economic life of assets is kept under annual review. Amendments are made if the estimate of useful life requires changing as a result of technological change, economic use or due to the physical condition of the assets. From this process the rates of asset depreciation are identified.

b. Going concern

The ability of the company to continue to trade as a going concern is assessed annually by the directors using their best estimations of future trading having regard to the economic climate in the UK.

c. Deferred taxation

Deferred tax is to be estimated based upon a calculation of tax timing differences that are likely to arise. as fixed assets are acquired and sold.

d. Other estimates

The directors annually calculate on a consistent basis any provisions that may be required in connection with bad debts or stock items that may require an amendment in value.

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 recognised once a purchase order is raised.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the asset to its working condition for intended use.

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

Long leasehold

- Straight line over 15 years

Plant and machinery

- at varying rates on cost

Motor vehicles

- 25% on cost

Stocks

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

Machinery stock is valued at the lower of cost and net realisable value. Parts stock is valued at average cost.

If after twelve months an item of plant and machinery for resale remains in stock, the company will write down the asset by 20% on a reducing balance each year. Parts stock is written down by 100% when it is three years old.

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.

Debt instruments are subsequently measured at amortised cost.

Corporate taxation

Taxation for the year is made up of current and deferred tax balances. 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 statement of financial position date.

Deferred taxation

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 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.

3.

TURNOVER

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

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

2024

2023

£

£

Sale of goods

21,951,612

24,138,061

Rent receivable

5,586

910

Commissions receivable

25,526

118,520

Bonus income

211,535

158,815

22,194,259

24,416,306

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

22,194,259

24,416,306

22,194,259

24,416,306

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,167,953

1,089,838

Social security costs

108,746

107,750

Other pension costs

16,256

22,257

1,292,955

1,219,845

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

2024

2023

Administration

4

4

Sales

3

3

Distribution

2

2

Workshop

6

5

Stores

16

14

31

28

The remuneration of the Directors, who are the key management personnel of the company, is set out below.

2024

2023

£

£

Directors' remuneration

53,855

45,272

5.	OPERATING PROFIT

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

2024

2023

£

£

Hire of plant and machinery

3,860

12,695

Other operating leases

60,000

60,000

Depreciation - owned assets

73,967

22,756

Depreciation - assets on hire purchase contracts

260,509

300,388

Profit on disposal of fixed assets

(154,033

)

(140,687

)

Auditors' remuneration

10,000

12,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

52,848

18,280

Interest on overdue tax

-

252

Hire purchase

192,963

374,554

245,811

393,086

7.

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

9,082

104,375

Prior period adjustment

-

124,438

Total current tax

9,082

228,813

Deferred tax

99,341

11,656

Tax on profit

108,423

240,469

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:

2024

2023

£

£

Profit before tax

426,201

575,175

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

106,550

143,794

Effects of:

Capital allowances in excess of depreciation

(30,807

)

(98,765

)

Disposal of tangible fixed assets

(38,508

)

73,375

Deferred tax

99,341

11,656

Prior year underaccrual

-

124,438

Profit on sale of asset

-

(35,172

)

Change of corporation tax rate

-

(6,566

)

General provision for bad debt

(27,709

)

27,709

Pension creditor

221

-

Marginal relief

(665

)

-

Total tax charge

108,423

240,469

8.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

260,000

260,000