REGISTERED NUMBER: 05124236 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARING GARDENS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Statement of Directors' Responsibilities

5

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Statement of Financial Position

11

Notes to the Financial Statements

12

DIRECTORS:

C Osman

C E Osman

S Osman

REGISTERED OFFICE:

368 Forest Road

London

E17 5JF

REGISTERED NUMBER:

05124236 (England and Wales)

SENIOR STATUTORY AUDITOR:

Nicholas Jeffrey Klein

AUDITORS:

Klein Evangelou

Chartered Certified Accountants

368 Forest Road

London

E17 5JF

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

REVIEW OF BUSINESS

The principal activity of the company during the year was to own and manage a residential care home for the elderly.

The company operated in line with expectations. Sales, gross profit and profit before tax increased/ (decreased) by £405,253, £20,320 and £6,609 respectively in 2024 reflecting the continued demand for the company's services.

Both the level of business and the year end financial position were satisfactory and the directors expect that the general level of activity will be sustained for the foreseeable future.

PRINCIPAL RISKS AND UNCERTAINTIES

The company faces a number of risks and uncertainties and the directors believe that the key business risks are summarised below. In view of these risks and uncertainties, the directors are aware that the development of the company may be affected by factors outside their control.

Competitive risks

The senior living sector is a growing market and competition from both national and local care home providers is forever prevalent. If a competitor develops a home in the location of the company this may have an impact on occupancy and the potential revenue generation at that home. The directors are confident that the positioning of the brand and offering, the quality of buildings, market leading care provision plus the demographics of the ageing population will protect future income streams for the company.

Legislative risks

The care home from which the company earns revenue is subject to licensing and inspection from the Care Quality Commission (CQC). The directors recognise that as regulations continue to change and evolve this may have the potential to impact the revenue of the home if an inspection leads to a negative report. However, the directors are confident that the strength of the internal care governance procedures and quality of management put in place by the company will have a positive impact on overall CQC compliance over the long term such that the regulatory landscape will not have a material impact on the company's revenue.

Financial risk management

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The company does not enter into any formally designated hedging arrangements.

The company continues to be financed from the sources shown within the financial statements including third party lenders and continues to be required to meet their ongoing lending requirements, in the normal way. The company does not use financial instruments to hedge against interest rate risks.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will remain competitive and believes that the company is in a good financial position and that the risks that have been identified are being well managed, including any ongoing risks associated with Covid-19.

The company continues to benefit from good levels of activity in the market. The focus of the business will be on maintaining and developing the existing care home.

EMPLOYEE INVOLVEMENT

The skill and support from its employees is extremely important to the company. The directors acknowledge the importance of good communications and employee relations and the company devotes time and effort ensuring that all employees are well informed about those aspects of its business which may affect them. Employees are briefed on all matters relevant to their areas of operation and their views are sought and taken into account. The company remains committed to employee involvement and equal opportunity.

FINANCIAL KEY PERFORMANCE INDICATORS

The Group's key financial and other performance indicators during the year were as follows:

Unit

2024

2023

Turnover

£

7,462,119

7,056,866

Gross profit margin

%

36

39

Profit before tax

£

1,489,984

1,483,375

Other performance indicators such as occupancy, staffing and other operating expenses are monitored closely by the Directors.

ON BEHALF OF THE BOARD:

C Osman - Director

25 September 2025

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

DIVIDENDS

No dividends were distributed for the year ended 31 December 2024.

EVENTS SINCE THE END OF THE YEAR

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

DIRECTORS

C Osman has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

C E Osman - appointed 30 June 2024

S Osman - appointed 30 June 2024

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The company does not enter into any formally designated hedging arrangements.

DISABLED EMPLOYEES

Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

DISCLOSURE IN THE STRATEGIC REPORT

The principal activity of the company, a business review, likely future developments, description of employee involvement policies, financial instruments and the principal risks and uncertainties facing the company have not been included in this report as they are disclosed in the strategic report.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

The auditors, Klein Evangelou, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C Osman - Director

25 September 2025

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.

Opinion

We have audited the financial statements of Charing Gardens Limited (the 'Company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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.

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the Company will continue in operation.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, 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 five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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 the care services sector, we identified that the principal risks of non-compliance with laws and regulations related to Care Act 2014, Care Quality Commission (CQC) regulations, UK tax legislation, pensions legislation, employment and health and safety regulation, fire safety, anti-bribery, corruption and fraud, regulation regarding professional responsibilities and, money laundering and we considered the extent to which non-compliance might have a material effect on the financial statements. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. 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.

We evaluated the directors' and 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 the risk that management may be in a position to make inappropriate accounting entries, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition, and significant one-off or unusual transactions.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included

but were not limited to:

- Discussing with the directors and management their policies and procedures regarding compliance with laws and regulations;

- Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and

- Considering the risk of acts by the company which were contrary to the applicable laws and regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:

- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;

- Gaining an understanding of the internal controls established to mitigate risks related to fraud;

- Discussing amongst the engagement team the risks of fraud; and

- Addressing the risks of fraud through management override of controls by performing journal entry testing.

The primary responsibility for the prevention and detection of irregularities including fraud rests with management. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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.

Nicholas Jeffrey Klein (Senior Statutory Auditor)

for and on behalf of Klein Evangelou

Chartered Certified Accountants

368 Forest Road

London

E17 5JF

25 September 2025

TURNOVER

7,462,119

7,056,866

Cost of sales

(4,697,383

)

(4,312,450

)

GROSS PROFIT

2,764,736

2,744,416

Administrative expenses

(1,088,091

)

(1,088,278

)

1,676,645

1,656,138

Other operating income

3

240,504

298,213

OPERATING PROFIT

5

1,917,149

1,954,351

Interest receivable and similar income

52,358

783

1,969,507

1,955,134

Interest payable and similar expenses

7

(479,523

)

(471,759

)

PROFIT BEFORE TAXATION

1,489,984

1,483,375

Tax on profit

8

(377,423

)

(328,320

)

PROFIT FOR THE FINANCIAL YEAR

1,112,561

1,155,055

Retained earnings at beginning of year

1,266,272

111,217

RETAINED EARNINGS AT END OF YEAR

2,378,833

1,266,272

FIXED ASSETS

Tangible assets

9

4,668,630

4,768,214

CURRENT ASSETS

Debtors

10

1,830,289

983,036

Cash at bank and in hand

3,069,560

2,810,534

4,899,849

3,793,570

CREDITORS

Amounts falling due within one year

11

1,851,471

1,622,430

NET CURRENT ASSETS

3,048,378

2,171,140

TOTAL ASSETS LESS CURRENT LIABILITIES

7,717,008

6,939,354

CREDITORS

Amounts falling due after more than one year

12

(5,051,655

)

(5,401,664

)

PROVISIONS FOR LIABILITIES

15

(286,420

)

(271,318

)

NET ASSETS

2,378,933

1,266,372

CAPITAL AND RESERVES

Called up share capital

16

100

100

Retained earnings

17

2,378,833

1,266,272

SHAREHOLDERS' FUNDS

2,378,933

1,266,372

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

C Osman - Director

1.	STATUTORY INFORMATION

Charing Gardens 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 exemptions 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;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as 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 turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

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

-

2% on cost

Fixtures, fittings and equipment

-

15% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

Going concern

The company continues with the support of it's immediate and ultimate parent company Charing Care Limited which will not allow any of it's creditors to suffer as a result of the Directors decision to allow the company to continue to trade under the circumstances.

Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	OTHER OPERATING INCOME

2024

2023

£

£

Management fees receivable

240,504

208,128

Donation received

-

10,000

Government grants

-

80,085

240,504

298,213

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,229,567

3,797,141

Social security costs

283,212

260,411

Other pension costs

61,173

65,678

4,573,952

4,123,230

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

2024

2023

Care assistants

175

176

Administrative

6

8

Managers

5

3

186

187

2024

2023

£

£

Directors' remuneration

31,607

-

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Hire of plant and machinery

1,075

794

Depreciation - owned assets

162,446

163,166

6.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the Company’s auditor for the audit of the Company

13,920

13,440

Fees payable to the Company’s auditor for other services:

- All other non-audit services

2,862

1,125

Total amount payable to the Company's auditor

16,782

13,752

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

478,550

469,359

Other interest

973

2,400

479,523

471,759

8.

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

362,321

304,166

Deferred tax

15,102

24,154

Tax on profit

377,423

328,320

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

1,489,984

1,483,375

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

372,496

348,890

Effects of:

Capital allowances in excess of depreciation

(5,111

)

(13,416

)

Utilisation of tax losses

(5,064

)

(31,308

)

Deferred tax

15,102

24,154

Total tax charge

377,423

328,320

Factors that may affect future tax charges

The main UK Corporation Tax rate of 25% has been used throughout and the deferred tax balances have been calculated using the same rate.

9.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Freehold

and

property

equipment

Totals

£

£

£

COST

At 1 January 2024

4,774,635

1,470,538

6,245,173

Additions

-

62,862

62,862

At 31 December 2024

4,774,635

1,533,400

6,308,035

DEPRECIATION

At 1 January 2024

389,910

1,087,049

1,476,959

Charge for year

95,493

66,953

162,446

At 31 December 2024

485,403

1,154,002

1,639,405

NET BOOK VALUE

At 31 December 2024

4,289,232

379,398

4,668,630

At 31 December 2023

4,384,725

383,489

4,768,214

Included in the cost attributed to the Freehold property are qualifying Plant and Machinery of £3,682,162 professionally valued in accordance with the Capital Allowances Act 2001.

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

388,249

233,427

Amounts owed by group undertakings

-

178,771

Amounts owed by connected undertakings

1,429,200

559,200

Prepayments

12,840

11,638

1,830,289

983,036

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 13)

787,206

728,812

Trade creditors

58,950

58,646

Amounts owed to group undertakings

-

29,564

Tax

178,590

188,620

Social security and other taxes

95,042

89,564

Other creditors

481,836

444,207

Accruals

44,638

48,909

Fees received in advance

205,209

34,108

1,851,471

1,622,430

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 13)

5,051,655

5,401,664

13.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

787,206

728,812

Amounts falling due between one and two years:

Bank loans - 1-2 years

787,206

728,812

Amounts falling due between two and five years:

Bank loans - 2-5 years

2,361,619

2,186,436

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,902,830

2,486,416

14.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

5,838,861

6,130,476

The bank loan is secured by way of a fixed charge over its freehold property shown in tangible fixed assets note and a fixed and floating charge over all assets of the company.

The bank loan is repayable over the period until June 2026. The rate of interest payable on the debt is 2.85% per annum over the Bank Base Rate.

15.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

286,420

271,318

Deferred

tax

£

Balance at 1 January 2024

271,318

Provided during year

15,102

Balance at 31 December 2024

286,420

16.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

17.

RESERVES

Retained

earnings

£

At 1 January 2024

1,266,272

Profit for the year

1,112,561

At 31 December 2024

2,378,833

18.	ULTIMATE PARENT COMPANY