REGISTERED NUMBER: 06533558 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

KPI Recruiting Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Mr R Jardine

Mr A Wragg

Ms E Raybon

Ms K Callan

Mr S Saunders

Mr C Furness

Miss C Shaw

Mrs L James

Mr T McCormick

Mr J J Jardine

REGISTERED OFFICE:

Capital House

Fourth Avenue

Crewe

Cheshire

CW1 6XL

REGISTERED NUMBER:

06533558 (England and Wales)

AUDITORS:

Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

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

REVIEW OF BUSINESS

Turnover for the year has increased by £9,516,530 over the prior year. Gross profit margin has decreased from 16.1% to 15.3%. Operating profit has decreased to £174,145 (2023: £196,605).

Management are satisfied with the financial performance of the company during the year and expect the company to continue generating profits for the foreseeable future.

As in previous years, the directors monitor the performance of the company through monthly management accounts and sales reports together with the monitoring of bank facilities and ability to meet future liabilities.

The key performance indicators ("KPIs") of the business are:

2024

2023

Turnover £'000

40,755

31,239

Gross Profit (%)

15.3

16.1

Operating Profit (%)

0.4

0.6

Debtor (days)

88

86

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company is the potential down turn in the economy. High interest rates and living costs have seen a small growth in GBP and a near miss recession. The temporary labour market is reliant on a buoyant market for growth.

The company plans to continue its strategy of entering new markets less dependant on the economy and further its offering in the permanent sector.

The company has retained a strong commitment to its employees, recognising the importance of its workforce in meeting customer needs.

The key risks that the company is exposed to are as follows:

Management and employees

The company recognises the importance of its employees in maintaining high standards of customer service. The company continues to retain a strong commitment to its employees and to provide suitable training and reward.

Commercial and competition risk

The company operates in a market that is competitive. The director understands that continued success is achieved through excellent customer service and high standards of work.

ON BEHALF OF THE BOARD:

Mr R Jardine - Director

26 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of recruitment services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 191,560 .

FUTURE DEVELOPMENTS

The Directors are committed to ensuring the long-term success and sustainability of the company. To support this goal, several strategic initiatives are currently underway or planned to drive future growth, enhance operational efficiency to achieve a projected turnover of up to £50m for 2025.

One key area of focus is market expansion. The company intends to broaden its market presence by targeting new geographic regions and customer segments that have been identified through strategic market research as having strong potential for growth and markets less reliant on the economy. To support this expansion, investments will be made in marketing efforts, strategic partnerships, and potentially establishing local representation.

Another important initiative is the company's ongoing digital transformation. Efforts are being made to upgrade internal systems and improve customer interfaces through the adoption of digital technologies. This includes implementing cloud-based platforms, and data analytics tools. These technologies are expected to enhance decision-making, increase efficiency, and improve customer engagement.

Recognising that a skilled and motivated workforce is essential to achieving these goals, the company is also prioritising talent development and workforce strategy. Programs are being developed to invest in employee training, leadership development, ensuring the business is well-positioned with the capabilities required for future growth.

The company is also actively pursuing strategic partnerships and acquisitions. These efforts are focused on identifying opportunities for collaboration or acquisition that could strengthen the company's competitive position, expand its capabilities, and create synergies in key operational areas.

While the company remains optimistic about the future, the Directors are mindful of broader economic conditions. In particular, caution is being exercised in relation to the first quarter of 2025, as changes to UK National Insurance contributions-set to take effect in April 2025-may impact consumer spending and business costs. The potential implications of this policy change are being closely monitored to ensure the company can respond appropriately and maintain financial resilience.

DIRECTORS

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

Mr R Jardine

Mr A Wragg

Ms E Raybon

Ms K Callan

Mr S Saunders

Mr C Furness

Miss C Shaw

Mrs L James

Mr T McCormick

Mr J J Jardine

DISABLED EMPLOYEES

The company gives full consideration to applications for employment from disabled persons where the candidate’s particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. Where existing employees become disabled, it is the group’s policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

EMPLOYEE INVOLVEMENT

The company operates a framework for employee information and consultation which complies with the requirements of the Information and Consultation of Employees Regulations 2004. Regular meetings are held between local management and employees to allow a free flow of information and ideas.

DISCLOSURE IN THE STRATEGIC REPORT

Future developments and principal risks and uncertainties are disclosed in the strategic report on page 2.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Thompson Wright (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr R Jardine - Director

26 September 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the recruitment industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental, other industry specific accreditations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

Jeremy Bostock BA (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

26 September 2025

TURNOVER

3

40,755,366

31,238,836

Cost of sales

34,514,157

26,202,516

GROSS PROFIT

6,241,209

5,036,320

Administrative expenses

6,067,064

4,977,432

174,145

58,888

Other operating income

-

137,717

OPERATING PROFIT

5

174,145

196,605

Interest receivable and similar income

5,806

6,790

179,951

203,395

Interest payable and similar expenses

6

19,040

5,664

PROFIT BEFORE TAXATION

160,911

197,731

Tax on profit

7

53,871

49,936

PROFIT FOR THE FINANCIAL YEAR

107,040

147,795

FIXED ASSETS

Tangible assets

9

408,989

432,800

CURRENT ASSETS

Debtors

10

11,536,683

9,241,998

Cash at bank

29,440

143,708

11,566,123

9,385,706

CREDITORS

Amounts falling due within one year

11

10,696,206

8,381,311

NET CURRENT ASSETS

869,917

1,004,395

TOTAL ASSETS LESS CURRENT LIABILITIES

1,278,906

1,437,195

CREDITORS

Amounts falling due after more than one year

12

(174,370

)

(244,044

)

PROVISIONS FOR LIABILITIES

16

-

(4,095

)

NET ASSETS

1,104,536

1,189,056

CAPITAL AND RESERVES

Called up share capital

17

245

245

Capital redemption reserve

18

155

155

Retained earnings

18

1,104,136

1,188,656

SHAREHOLDERS' FUNDS

1,104,536

1,189,056

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:

Mr R Jardine - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

245

1,176,383

155

1,176,783

Changes in equity

Total comprehensive income

-

147,795

-

147,795

Dividends

-

(135,522

)

-

(135,522

)

Balance at 31 December 2023

245

1,188,656

155

1,189,056

Changes in equity

Total comprehensive income

-

107,040

-

107,040

Dividends

-

(191,560

)

-

(191,560

)

Balance at 31 December 2024

245

1,104,136

155

1,104,536

Cash flows from operating activities

Cash generated from operations

1

662,496

961,807

Interest paid

(19,040

)

(5,664

)

Finance costs paid

(383,534

)

(277,086

)

Tax paid

(50,639

)

(155,828

)

Net cash from operating activities

209,283

523,229

Cash flows from investing activities

Purchase of tangible fixed assets

(2,943

)

(390,402

)

Sale of tangible fixed assets

-

5,833

Interest received

5,806

6,790

Net cash from investing activities

2,863

(377,779

)

Cash flows from financing activities

New loans in year

-

245,000

Loan repayments in year

(67,274

)

-

Amount introduced by directors

55,583

57,018

Amount withdrawn by directors

(48,415

)

(72,315

)

Loan repayments

-

(37,719

)

Loans to associates

(74,748

)

(135,726

)

Equity dividends paid

(191,560

)

(135,522

)

Net cash from financing activities

(326,414

)

(79,264

)

(Decrease)/increase in cash and cash equivalents

(114,268

)

66,186

Cash and cash equivalents at beginning of year

2

143,708

77,522

Cash and cash equivalents at end of year

2

29,440

143,708

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

2024

2023

£

£

Profit before taxation

160,911

197,731

Depreciation charges

26,754

24,330

Loss on disposal of fixed assets

-

1,875

Invoice discounting

1,523,062

300,704

Factoring charges

383,535

277,086

Finance costs

19,040

5,664

Finance income

(5,806

)

(6,790

)

2,107,496

800,600

Increase in trade and other debtors

(2,226,713

)

(239,565

)

Increase in trade and other creditors

781,713

400,772

Cash generated from operations

662,496

961,807

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

29,440

143,708

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

143,708

77,522

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.1.24

Cash flow

changes

At 31.12.24

£

£

£

£

Net cash

Cash at bank

143,708

(114,268

)

29,440

143,708

(114,268

)

29,440

Debt

Debts falling due

within 1 year

(67,404

)

67,274

(69,674

)

(69,804

)

Debts falling due

after 1 year

(298,211

)

25,000

69,674

(203,537

)

(365,615

)

92,274

-

(273,341

)

Total

(221,907

)

(21,994

)

-

(243,901

)

1.	STATUTORY INFORMATION

KPI Recruiting 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 accounting policies remain unchanged from the prior year.

Significant judgements and estimates

The company makes significant judgements and estimates concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities are detailed below.

Holiday pay provision

Management make an estimate of the holiday pay provision owed to all staff as at the year end date. The value varies depending on the proceeding 12 week period before holidays are requested and taken. As some parts of the business are seasonal, management have to consider when holidays are taken during the year and apply this rationale to the year end value.

Impairment of debtors

Management makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile and historical experience.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, and is solely derived from UK sales.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

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 and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

Financial instruments

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

(i) Financial assets

Basic financial assets, including trade and other receivables, loans to related companies and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

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

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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

£

£

Temps

32,518,850

26,906,262

Perms

2,382,333

638,141

Other services

5,854,183

3,694,433

40,755,366

31,238,836

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

38,271,646

29,400,622

Other pension costs

55,679

45,865

38,327,325

29,446,487

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

2024

2023

Production staff

1,651

1,395

Administrative staff

93

73

Management staff

10

10

1,754

1,478

2024

2023

£

£

Directors' remuneration

672,520

725,121

Directors' pension contributions to money purchase schemes

12,956

14,049

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

100,835

79,225

Pension contributions to money purchase schemes

1,321

1,315

5.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Other operating leases

258,410

190,744

Depreciation - owned assets

26,754

24,330

Loss on disposal of fixed assets

-

1,875

Auditors' remuneration

12,700

11,250