REGISTERED NUMBER: 05864341 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

F.J. Booth Construction Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

S P Agar

S N Muir

REGISTERED OFFICE:

Victoria Court

Rectory Lane

Guisborough

Cleveland

TS14 7GA

REGISTERED NUMBER:

05864341 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

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

The Company's principal activity is the design, fabrication and construction of light, medium and heavy structural steel works. Its clients include businesses in the petrochemical, oil and gas, industrial, engineering, power generation, nuclear and biofuels industries.

REVIEW OF BUSINESS

The company has operated at a lower level of activity than in the previous year, achieving a turnover of £5.0m in 2024 compared with £11.8m in 2023. This has resulted in a loss before tax in 2024 of £85,477, compared with a profit in the prior year of £619,840. The directors are optimistic that the order book and current levels of enquiry will result in a higher turnover in future years.

PRINCIPAL RISKS AND UNCERTAINTIES

The continued success of the company is dependent upon it being competitive in a sector that is very reliant upon a stable or growing economy. The company has a good record of securing new work, particularly in sectors where it has significant expertise and experience, however the markets continue to be very challenging. Significant work has been undertaken to improve margins and control direct costs and overheads.

FINANCIAL KEY PERFORMANCE INDICATORS

The Board has established certain key performance indicators (KPI's) which are important in monitoring the company's performance. The principal KPI's are continued and sustainable turnover and guaranteed minimal margin. However, as has been previously stated, the continued growth and development of the company is largely dependent on prevailing external factors, namely the volatile nature of the construction industry.

During the financial year, the company has been able to achieve a turnover of £5.0m, albeit lower than in 2023. Gross margin achieved has improved from 12.7% in 2023 to 15.6% in 2024. Overall construction activities carried on by this company and its parent company has produced sales of £7.7m compared with £12.0m in the prior year. There remains remains a pressure on achieving the desired gross margin on contracts and this area remains challenging.

During the first half of 2025 the company has achieved turnover of £2.3m and should be able to match the turnover achieved in 2024.

FUTURE DEVELOPMENTS

Although the Construction Sector has been adversely affected by the economic slowdown in the areas of Aerospace and Power Generation in the last few years, there is continued demand and with it renewed optimism for the future.

This company has specific skills and experience such that it has built a reputation for delivering in these specific markets and is well placed to continue during the current financial year and beyond.

The current order book extends to quarter 1 of 2026, with the company working hard to secure new work from the many opportunities to tender it is seeing during 2025 to date.

RESEARCH AND DEVELOPMENT ACTIVITIES

As mentioned above the Company's principal activity is the design, fabrication and construction of light, medium and heavy structural steel works.

The Company takes on many different projects from customers in many different sectors and therefore needs to maintain a level of expertise in all areas including steel erection, welding, cladding, construction management and safety advice.

As projects become more and more complex, the Company engages its R&D team to investigate any problems and create solutions to client requirements that have not been met before.

The problems encountered were areas which, as far as the Company is aware, practical solutions had never been achieved previously and no information was available in the public domain that could have helped them reach the advancements sought without encountering significant technical challenges and uncertainties.

ON BEHALF OF THE BOARD:

S N Muir - Director

24 September 2025

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

DIVIDENDS

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

DIRECTORS

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

S P Agar

S N Muir

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 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, Anderson Barrowcliff Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S N Muir - Director

24 September 2025

Opinion

We have audited the financial statements of F.J. Booth Construction Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, 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 loss for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered 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 posting of inappropriate manual journal entries to manipulate financial performance, management bias and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Audit procedures performed by the engagement team included:

-

Enquiry of management and those charged with governance around actual and potential litigation and claims.

-

Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

-

Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

-

Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognised in the correct period.

Because of 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. The 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.

Andrew Dewing FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

26 September 2025

TURNOVER

3

5,000,188

11,789,181

Cost of sales

4,220,823

10,281,862

GROSS PROFIT

779,365

1,507,319

Administrative expenses

1,156,053

1,150,775

(376,688

)

356,544

Other operating income

320,000

320,000

OPERATING (LOSS)/PROFIT

5

(56,688

)

676,544

Interest receivable and similar income

344

67

(56,344

)

676,611

Interest payable and similar expenses

6

29,133

56,771

(LOSS)/PROFIT BEFORE TAXATION

(85,477

)

619,840

Tax on (loss)/profit

7

(51,782

)

154,645

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(33,695

)

465,195

(LOSS)/PROFIT FOR THE YEAR

(33,695

)

465,195

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(33,695

)

Prior year adjustment

(425,113

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

40,082

FIXED ASSETS

Tangible assets

8

66,799

86,590

CURRENT ASSETS

Debtors

9

780,987

2,621,537

Cash at bank

273

369

781,260

2,621,906

CREDITORS

Amounts falling due within one year

10

794,301

2,583,543

NET CURRENT (LIABILITIES)/ASSETS

(13,041

)

38,363

TOTAL ASSETS LESS CURRENT LIABILITIES

53,758

124,953

CREDITORS

Amounts falling due after more than one year

11

-

(42,500

)

PROVISIONS FOR LIABILITIES

15

(5,000

)

-

NET ASSETS

48,758

82,453

CAPITAL AND RESERVES

Called up share capital

16

1,000

1,000

Retained earnings

17

47,758

81,453

SHAREHOLDERS' FUNDS

48,758

82,453

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:

S N Muir - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1,000

41,371

42,371

Prior year adjustment

-

(425,113

)

(425,113

)

As restated

1,000

(383,742

)

(382,742

)

Changes in equity

Total comprehensive income

-

465,195

465,195

Balance at 31 December 2023

1,000

81,453

82,453

Changes in equity

Total comprehensive income

-

(33,695

)

(33,695

)

Balance at 31 December 2024

1,000

47,758

48,758

1.	STATUTORY INFORMATION

F.J. Booth Construction 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).

Critical accounting judgements and key sources of estimation uncertainty

In the application of the companies accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The judgement (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that has the most significant effect on the amounts recognised in the financial statements is the stage of completion of contracts and revenue recognition.

The company undertakes a number of long term construction contracts. Accounting for these contracts requires a number of assumptions and estimates to be made in relation to the stage of completion and expected outcome of the contract. Each contract has an expected value and is costed appropriately to give an expected margin. Any future changes to estimates of contract revenue or contract costs resulting in a change to the estimated loss or profit of the contract is regularly reviewed by management to ensure accurate reporting of revenue recognition.

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 stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover for the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has been only partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to stage of completion of the contract activity at the Balance Sheet date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

Tangible fixed assets

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

Improvements to leasehold property

-

6.67% on cost

Plant and machinery

-

20% on cost and 20% on reducing balance

Motor vehicles

-

25% on cost

Office equipment

-

25% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Amounts recoverable on contracts

Amounts recoverable on contracts are stated at cost plus attributable profit to the extent that such profit is reasonably certain and after making provision for any foreseeable losses in completing contracts, less payments on account received.

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 balance sheet date.

Deferred tax

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

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 plan for its employees. Contributions are recognised as an expense in the period they fall due. Amounts not paid are included as a liability within accruals.

Debtors and creditors receivable/payable

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

3.

TURNOVER

The turnover and loss (2023 - 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

£

£

Construction contract turnover

5,000,188

11,789,181

5,000,188

11,789,181

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,938,679

3,414,259

Social security costs

195,241

347,575

Other pension costs

34,370

54,948

2,168,290

3,816,782

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

2024

2023

Directors

2

2

Management and administration

6

7

Technical and engineering staff

8

9

Site operatives

27

55

43

73

2024

2023

£

£

Directors' remuneration

110,000

110,000

Directors' pension contributions to money purchase schemes

2,484

2,484

The number of directors to whom retirement benefits are accruing under money purchase schemes:

2

2

5.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024

2023

£

£

Plant hire

258,138

678,269

Depreciation - owned assets

24,000

29,287

Profit on disposal of fixed assets

(7,148

)

(15,059

)

Auditors remuneration

15,399

15,000

Foreign exchange differences

1,835

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Overdraft interest

19,570

17,259

Interest on overdue tax

9,563

39,512

29,133

56,771

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2024

2023

£

£

Current tax:

R&D tax credit

(84,755

)

-

Deferred taxation

32,973

154,645

Tax on (loss)/profit

(51,782

)

154,645

Reconciliation of total tax (credit)/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:

2024

2023

£

£

(Loss)/profit before tax

(85,477

)

619,840

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

(21,369

)

154,960

Effects of:

Effect of super-deduction claimed

-

(315

)

Research and development tax credit

(84,755

)

-

Underprovided deferred tax in prior years

34,058

-

Group relief

20,284

-

Total tax (credit)/charge

(51,782

)

154,645

8.	TANGIBLE FIXED ASSETS

Improvements

to

leasehold

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

105,715

379,422

80,490

172,372

737,999

Additions

-

1,831

-

2,378

4,209

Disposals

-

(116,250

)

-

-

(116,250

)

At 31 December 2024

105,715

265,003

80,490

174,750

625,958

DEPRECIATION

At 1 January 2024

68,716

355,700

80,490

146,503

651,409

Charge for year

5,286

7,577

-

11,137

24,000

Eliminated on disposal

-

(116,250

)

-

-

(116,250

)

At 31 December 2024

74,002

247,027

80,490

157,640

559,159

NET BOOK VALUE

At 31 December 2024

31,713

17,976

-

17,110

66,799

At 31 December 2023

36,999

23,722

-

25,869

86,590

9.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

108,564

201,502

Amounts owed by group undertakings

242,792

864,388

Amounts recoverable on contract

327,066

1,089,704

Other debtors

44,793

44,608

Deferred taxation

-

27,973

Prepayments and accrued income

57,772

95,277

780,987

2,323,452

Amounts falling due after more than one year:

Amounts recoverable on contract

-

298,085

Aggregate amounts

780,987

2,621,537

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 12)

122,964

182,449

Payments on account

62,347

128,000

Trade creditors

263,399

1,308,513

Social security and other taxes

45,674

408,839

VAT

205,343

353,161

Other creditors

9,628

17,138

Accruals and deferred income

84,946

185,443

794,301

2,583,543

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 12)

-

42,500

12.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

122,964

152,449

Bank loans - less than 1 yr

-

30,000

122,964

182,449

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

30,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

12,500