REGISTERED NUMBER: 00526712 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BRITANNIA SUPERFINE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

C K Manser

M J Manser

S K Manser

SECRETARY:

Mrs G Manser

REGISTERED OFFICE:

Chaucer Industrial Estate

Dittons Road

Polegate

East Sussex

BN26 6JF

REGISTERED NUMBER:

00526712 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

BANKERS:

Barclays Bank Plc

2 Churchill Place

Canary Wharf

London

E14 5RB

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

REVIEW OF BUSINESS

The Company has performed well during the year and the Director is pleased with the consistent performance. The Company has been committed to sustaining turnover in what continues to be a changeable and challenging market. This commitment has seen a rise in turnover of 15.4% whilst gross margin has decreased slightly by 1.8%.

The Director is satisfied with the Company's position at the year end and believes that given its strong financial position it will be able to expand its operations and continue to thrive. The Company continues to invest significantly in plant and machinery, a strategy it believes will ensure the Company remains competitive, adaptable and profitable in the future.

The Company continues to invest in the development of new products to meet the demand of the changing preferences of the end consumer.

The Company's EBITDA was £4,144,780.

Business Review

The Company has continued with investments over the past year, including various items of plant and machinery. There has also been additional expenditure on the new factories and units invested in recent years at the main site in Polegate.

The Company has also invested in it's infrastructure by the recruitment and development of staff to ensure they can meet the increased demand from customers.

The company is making good use of the 500,000 KWH solar panel system as well as the LED lighting system to ensure operations are efficient and the company has strong green energy credentials.This is particularly important given the soaring energy costs and inflation in general in the economy.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company supplies its products to other large manufacturing companies and also direct to large retail customers. In this respect the Company is exposed to trends and movements in consumer spending habits. Despite some positive indicators seen in the retail market; the resilience of the wider economic recovery and the direct affect this has on consumer spending is regarded by the Company as a principal risk.

A further risk to the Company is the global price of source raw materials and the impact this has on the price it pays for the ingredients used in its products.The emergence of the Russia-Ukraine conflict is a significant risk as this is driving up the price of fuel and a number of other products key to the business.

While an uncertain economic and political climate might delay some of the Company's planned capital expenditure projects, it is unlikely to impact the demand of their existing products materially.

SECTION 172(1) STATEMENT

Section 172 of the Companies Act 2006 requires a director of a Company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In this respect the Directors have had regard, amongst other matters, to the:

- Likely consequences of any decisions in the long-term;

- Interests of the Company's employees;

- Need to foster the Company's business relationships with suppliers, customers and others;

- Impact of the Company's operations on the community and environment;

- Desirability of the Company maintaining a reputation for high standards of business conduct;

and

- Need to act fairly as between members of the Company.

The Directors seek to ensure that their decision making process not only takes into account the Company's purpose, vision and values, together with its strategic priorities, but also reflects, as far as practical and possible, the interests of all stakeholders.

FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES

The company's principle financial instruments comprise trade debtors, bank loans and balances and trade creditors. The main purpose of these instruments is to finance the Company's operations as they arise.

Trade debtors are managed in respect of credit and cash flow risk by monitoring the age and history of outstanding invoices and payments on a continuous basis. Deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures.

The Company maintains relationships with its chosen bank and regularly reviews its funding arrangements for growth and equipment acquisitions. The Company's centralised finance function oversees all key strategic financial matters and is responsible for the management of liquidity, bank loans and foreign exchange risks.

Liquidity risk is managed by maintaining an appropriate balance to cover salaries, HM Revenue and Customs, loan capital repayments and trade creditor liabilities.

KEY PERFORMANCE INDICATORS

2024

2023

2022

£

£

£

Turnover

66,030,422

57,216,100

50,646,422

Gross Profit

7,660,770

7,719,815

4,944,985

Operating Profit

3,602,760

3,248,432

1,490,320

EBITDA

4,144,780

3,587,468

1,788,380

FURTHER BUSINESS REVIEW AND RISKS

The liquidity of the company remains healthy due to the significant cash balance which is readily accessible. The company has a good order pipeline and continues to be in a strong position to maintain market share and contracts with key customers.

STREAMLINED ENERGY AND CARBON REPORTING

2024

2023

UK energy use kWh

kWh's

kWh's

Electricity purchased - total kWh taken from electricity bills

8,116,892

7,854,895

Gas purchased - a total estimated 171,671 litres

830,925

1,764,600

Transport Fuel - a total estimated 198,358 litres

1,831,647

2,102,595

10,779,464

11,722,090

Associated Greenhouse gas emissions tC02e

tCO2e

tCO2e

Emissions from purchased electricity

1,829

1,767

Emissions from combustion of oil

204

440

Emissions from combustion of transport fuel

462

498

2,495

2,705

Intensity ratio

Sales revenue £1m

66.0

57.6

Tonnes CO2e Equivalent

2495

2,705

Tonnes of CO2e per total £1m sales revenue

37.8

46.9

Approved conversion factors have been applied to calculate CO2 emissions from kWh usage.

ON BEHALF OF THE BOARD:

C K Manser - Director

30 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 manufacturing confectionery.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 is £181,200.

DIRECTORS

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

C K Manser

M J Manser

S K Manser

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;

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

-	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, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C K Manser - Director

30 September 2025

Opinion

We have audited the financial statements of Britannia Superfine Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of 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 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 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:

Audit procedures performed by the engagement team to detect irregularities, including fraud from instances of

non-compliance with laws and regulations included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with

laws and regulations and fraud;

- Reading key correspondence from regulatory bodies;

- Challenging assumptions and judgements made by management in it's significant accounting estimates that

involved making assumptions and considering future events that are inherently uncertain, the most significant area being in recognition of costs and revenues for ongoing projects.

- Consideration of recent correspondence with the companies legal advisors to ensure that it aligned with the

conclusions drawn on obligations recognised in respect of uncertain legal matters;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations

or those posted by unexpected users; and

- Testing transactions entered into that are outside of the normal course of the Company's business

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the

financial statements from our general commercial and sector experience, through discussion with the directors

and other management (as required by auditing standards), and from inspection of the group's regulatory and

legal correspondence.. We communicated identified laws and regulations throughout our team and remained

alert to any indications of non-compliance throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.

Stephen James Moore (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

Statutory Auditor

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

30 September 2025

TURNOVER

4

66,030,422

57,626,100

Cost of sales

(58,369,652

)

(49,906,285

)

GROSS PROFIT

7,660,770

7,719,815

Distribution costs

(1,302,819

)

(1,505,313

)

Administrative expenses

(2,795,947

)

(2,997,681

)

3,562,004

3,216,821

Other operating income

40,756

31,611

OPERATING PROFIT

3,602,760

3,248,432

Interest receivable and similar income

77,136

20,976

3,679,896

3,269,408

Interest payable and similar expenses

6

(1,096

)

-

PROFIT BEFORE TAXATION

7

3,678,800

3,269,408

Tax on profit

8

(851,176

)

(442,252

)

PROFIT FOR THE FINANCIAL YEAR

2,827,624

2,827,156

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,827,624

2,827,156

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

19,427,937

18,870,160

19,427,937

18,870,160

CURRENT ASSETS

Stocks

12

2,775,098

2,685,106

Debtors

13

9,300,964

5,486,138

Cash at bank and in hand

4,873,969

1,415,343

16,950,031

9,586,587

CREDITORS

Amounts falling due within one year

14

(11,046,039

)

(5,771,242

)

NET CURRENT ASSETS

5,903,992

3,815,345

TOTAL ASSETS LESS CURRENT LIABILITIES

25,331,929

22,685,505

CAPITAL AND RESERVES

Called up share capital

15

3,345

3,345

Revaluation reserve

16

9,636,073

9,636,073

Retained earnings

16

15,692,511

13,046,087

SHAREHOLDERS' FUNDS

25,331,929

22,685,505

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

C K Manser - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

3,345

10,400,131

9,636,073

20,039,549

Changes in equity

Dividends

-

(181,200

)

-

(181,200

)

Total comprehensive income

-

2,827,156

-

2,827,156

Balance at 31 December 2023

3,345

13,046,087

9,636,073

22,685,505

Changes in equity

Dividends

-

(181,200

)

-

(181,200

)

Total comprehensive income

-

2,827,624

-

2,827,624

Balance at 31 December 2024

3,345

15,692,511

9,636,073

25,331,929

1.	STATUTORY INFORMATION

Britannia Superfine 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.

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 as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

20% on cost, 10% on cost and 5% on cost

Motor vehicles

-

25% on reducing balance

Non-depreciation of freehold property is not in accordance with FRS 102 Section 17. However, as current market value is in excess of cost no provision is considered necessary.

Stocks

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

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 accounts receivable and payable, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

Deferred tax liabilities are generally recognised for all taxable timing differences, and deferred tax assets are recognised to the extent that it is probable that they will be recovered against future taxable profits.

Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing differences.

The company has not recognised deferred tax in circumstances where the directors consider that no liability will crystallise in the foreseeable future and where recognition would not result in a true and fair view.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

63,527,623

48,075,395

Europe

2,502,799

9,550,705

66,030,422

57,626,100

The turnover for Europe amounted to €3,027,601 (2023 - €10,905,950).

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,434,236

4,621,465

Other pension costs

191,109

191,411

4,625,345

4,812,876

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

2024

2023

Office and management

16

18

Distribution

15

16

Manufacturing

119

135

150

169

2024

2023

£

£

Directors remuneration

325,000

315,855

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Interest on late taxation

1,096

-

7.	PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

618,060

318,060

Profit on disposal of fixed assets

(24,858

)

(2,142

)

Audit fees

24,505

23,699

Foreign exchange differences

35,320

796

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

812,380

500,000

Prior year adjustment

38,796

(57,748

)

Tax on profit

851,176

442,252

Reconciliation of total tax charge included in profit and loss

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

2024

2023

£

£

Profit before tax

3,678,800

3,269,408

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.521%)

919,700

768,997

Effects of:

Expenses not deductible for tax purposes

2,325

3,105

Income not taxable for tax purposes

(274

)

-

Capital allowances in excess of depreciation

(109,371

)

(234,366

)

Utilisation of tax losses

-

(28,976

)

Adjustments to tax charge in respect of previous periods

38,796

(57,748

)

Depreciation add back

-

74,810

Other tax adjustments

-

(83,570

)

Total tax charge

851,176

442,252

The standard rate of corporation tax has been calculated by dividing the tax charge by the profits chargeable to corporation tax.

The company has not recognised a deferred tax liability of £1.618m (2024: £1.508m) in respect of timing differences relating to capital allowances on plant and machinery. The directors consider that recognition of this liability would not give a true and fair view of the company's financial position, as the company maintains a policy of ongoing reinvestment in plant and machinery and timing differences are therefore not expected to crystallise in the foreseeable future. In addition, many assets that are fully depreciated in the financial statements retain significant value in use. The effect of this departure is to increase net assets and equity by £332,000 (2024: £442,000).

The company has not recognized a deferred tax liability in respect of its revalued freehold property as the directors consider that recognition of this liability would not give a true and fair view of the company's financial position, as if it were to relocate any potential gain would be subject to roll over relief and not expected to crystallise in the foreseeable future

9.

DIVIDENDS

2024

2023

£

£

Ordinary A - E shares of £1 each

Interim

181,200

181,200

10.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

125,333

AMORTISATION

At 1 January 2024

and 31 December 2024

125,333

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

11.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

12,494,054

12,880,591

1,229,667

26,604,312

Additions

-

972,675

233,574

1,206,249

Disposals

-

(8,500

)

(107,908

)

(116,408

)

At 31 December 2024

12,494,054

13,844,766

1,355,333

27,694,153

DEPRECIATION

At 1 January 2024

-

6,813,404

920,748

7,734,152

Charge for year

-

556,860

61,200

618,060

Eliminated on disposal

-

(850

)

(85,146

)

(85,996

)

At 31 December 2024

-

7,369,414

896,802

8,266,216

NET BOOK VALUE

At 31 December 2024

12,494,054

6,475,352

458,531

19,427,937

At 31 December 2023

12,494,054

6,067,187

308,919

18,870,160

Cost or valuation at 31 December 2024 is represented by:

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Valuation in 2000

1,260,781

-

-

1,260,781

Valuation in 2007

5,901,922

-

-

5,901,922

Valuation in 2018

1,974,814

-

-

1,974,814

Valuation in 2019

61,674

-

-

61,674

Valuation in 2022

-

-

1,174,757

1,174,757

Valuation in 2023

-

-

54,910

54,910

Valuation in 2024

-

-

125,666

125,666

Cost

3,294,863

13,844,766

-

17,139,629

12,494,054

13,844,766

1,355,333

27,694,153

If the freehold property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

3,294,863

3,294,863

The freehold property was valued on an existing use basis on 10 December 2018 by Maltbys .

12.

STOCKS

2024

2023

£

£

Stocks

2,775,098

2,685,106