REGISTERED NUMBER: 00989722 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

WEBB & WELLS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTORS:

Mr P J Webb

Mr S H Webb

Mrs J M Webb

SECRETARY:

Mrs J M Webb

REGISTERED OFFICE:

1341 High Road

Whetstone

London

N20 9HR

BUSINESS ADDRESS:

9 Chilford Court

Rayne Road

Braintree

Essex

CM7 2QS

REGISTERED NUMBER:

00989722 (England and Wales)

AUDITORS:

AKS Advisers Limited, Statutory Auditor

14-15 Lower Grosvenor Place

London

SW1W 0EX

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

Introduction

Webb & Wells Limited is a family business established since 1970 supplying the major OEM manufacturers in Europe, Asia and U.S.A. with power cords, wiring harnesses and bespoke design sub-assemblies, to a complete finished product. The shareholders of the company are involved in the day to day operation of the business and are therefore aware of the company's development, performance and position.

Going Concern

As part of the directors' consideration of the appropriateness of adopting the going concern basis in preparing the financial statements, a range of severe scenarios have been reviewed. The assumptions modelled are based on the estimated potential impact the company's order book and assessment of management reports to date and over the course of the next 18 months. Under each scenario, mitigating actions are all within management control, can be initiated as they relate to discretionary spend, and do not impact the ability to meet demand. These mitigating actions include the option to reduce all non-essential and non-committed capex where and when necessary.

The company has reported net profit after tax in the sum of £501,782 (2023: £609,734) and net reserves amounting to £12,389,768 (2023: £12,167,986) for the year ended 31 December 2024. In addition, the company also has reasonable cash balances at the balance sheet date.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

REVIEW OF BUSINESS

As expected and foretold by the directors, the turnover in 2024 decreased, due to the world economic status, and as a result, margins were squeezed. The directors are satisfied with the modest results achieved in the year. The company's order book for 2025 indicates that turnover will not increase from the 2024 level but that similar modest results will be achieved. The directors are confident that the company has adequate resources to compensate the reduction in profit and the company will experience an acceptable performance in the year. Adequate finance is available to take advantage of any future business opportunities and the directors consider the state of affairs to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

All risks and uncertainties, including exchange risks, are monitored and assessed on a continual basis and appropriate steps taken where required.

FINANCIAL KEY PERFORMANCE INDICATORS

The profit for the year, after taxation, amounted to £501,782 (2023: £609,734). Turnover for the year was £16,011,009 (2023 - £19,004,224). During the year, dividends of £280,000 were paid.

OTHER KEY PERFORMANCE INDICATORS

Staff turnover is minimal and staff members are content. All employees are provided with a safe environment in which to work. Production quality is well regulated and maintained to an excellent standard. The company is alert to new technological developments and looks for innovation and expansion in the product range to provide customer solutions. The customer base is well serviced and customers are consulted on a regular basis to ensure satisfaction levels are high.

ON BEHALF OF THE BOARD:

Mr P J Webb - Director

29 September 2025

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

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £280,000.

DIRECTORS

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

Mr P J Webb

Mr S H Webb

Mrs J M Webb

CHARITABLE DONATIONS AND EXPENDITURE

During the year company has made one off donations of £293 to charitable organisations.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, AKS Advisers Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr P J Webb - Director

29 September 2025

Opinion

We have audited the financial statements of Webb & Wells 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, 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:

Irregularities, including fraud are instances of non-compliance with laws and regulations. We designed 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 irregularity including fraud is detailed below.

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 verbal and written communications with those charged with governance and other management; and via inspection of the company's regulatory and legal correspondence.

We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations to our team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements, including: the company's constitution, relevant financial reporting standards; company law; tax legislation and distributable profits legislation and we assess the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties or through losses arising from litigations. We identified the following areas as those most likely to have such an affect: employment legislation; health and safety legislation; trade legislation relevant to the sale of products related to the power cords, wiring harness and other sub-assemblies sector; data protection legislation; anti-bribery and corruption legislation.

International Auditing Standards (UK) limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance which laws and regulations that could have a material impact on the financial statements.

In relation to fraud, we performed the following specific procedures in addition to those already noted:

- Challenging assumptions made by management in its significant accounting estimates in particular: depreciation and staff bonuses;

- Identifying and testing journal entries, in particular any entries posted with unusual nominal ledger account combinations, journal entries crediting cash or any revenue account, journal entries posted by senior management;

- Performing analytical procedures to identify unexpected movements in account balances which may be indicative of fraud;

- Ensuring that testing undertaken on both the performance statements, and the Balance Sheet includes a number of items selected on a random basis.

These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with International Auditing Standards UK). For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

-

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Ashish Kirtikumar Shah (Senior Statutory Auditor)

for and on behalf of AKS Advisers Limited, Statutory Auditor

14-15 Lower Grosvenor Place

London

SW1W 0EX

29 September 2025

TURNOVER

2

16,011,009

19,004,224

Cost of sales

13,594,205

15,238,864

GROSS PROFIT

2,416,804

3,765,360

Administrative expenses

2,363,916

2,547,110

OPERATING PROFIT

4

52,888

1,218,250

Interest receivable and similar income

284,646

133,854

337,534

1,352,104

Loans

6

(347,758

)

416,614

PROFIT BEFORE TAXATION

685,292

935,490

Tax on profit

7

183,510

325,756

PROFIT FOR THE FINANCIAL YEAR

501,782

609,734

PROFIT FOR THE YEAR

501,782

609,734

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

501,782

609,734

FIXED ASSETS

Tangible assets

9

179,293

154,144

Investments

10

100

100

179,393

154,244

CURRENT ASSETS

Stocks

11

5,562,288

3,937,040

Debtors

12

3,273,392

3,387,780

Cash at bank and in hand

13

6,925,547

9,267,314

15,761,227

16,592,134

CREDITORS

Amounts falling due within one year

14

3,550,852

4,578,392

NET CURRENT ASSETS

12,210,375

12,013,742

TOTAL ASSETS LESS CURRENT LIABILITIES

12,389,768

12,167,986

CAPITAL AND RESERVES

Called up share capital

15

5,000

5,000

Retained earnings

16

12,384,768

12,162,986

SHAREHOLDERS' FUNDS

12,389,768

12,167,986

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr P J Webb - Director

Mr S H Webb - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

5,000

11,833,252

11,838,252

Changes in equity

Dividends

-

(280,000

)

(280,000

)

Total comprehensive income

-

609,734

609,734

Balance at 31 December 2023

5,000

12,162,986

12,167,986

Changes in equity

Dividends

-

(280,000

)

(280,000

)

Total comprehensive income

-

501,782

501,782

Balance at 31 December 2024

5,000

12,384,768

12,389,768

Cash flows from operating activities

Cash generated from operations

1

(2,313,976

)

4,855,460

Interest paid

347,758

(416,614

)

Tax paid

(325,756

)

(580,612

)

Net cash from operating activities

(2,291,974

)

3,858,234

Cash flows from investing activities

Purchase of tangible fixed assets

(50,423

)

(8,556

)

Interest received

284,646

133,854

Net cash from investing activities

234,223

125,298

Cash flows from financing activities

Amount introduced by directors

-

195,070

Amount withdrawn by directors

(3,871

)

(175,974

)

Inter company

(145

)

596,101

Equity dividends paid

(280,000

)

(280,000

)

Net cash from financing activities

(284,016

)

335,197

(Decrease)/increase in cash and cash equivalents

(2,341,767

)

4,318,729

Cash and cash equivalents at beginning of year

2

9,267,314

4,948,585

Cash and cash equivalents at end of year

2

6,925,547

9,267,314

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

31.12.24

31.12.23

£

£

Profit before taxation

685,292

935,490

Depreciation charges

25,274

15,703

Finance costs

(347,758

)

416,614

Finance income

(284,646

)

(133,854

)

78,162

1,233,953

(Increase)/decrease in stocks

(1,625,248

)

5,551,519

Decrease in trade and other debtors

114,533

1,186,855

Decrease in trade and other creditors

(881,423

)

(3,116,867

)

Cash generated from operations

(2,313,976

)

4,855,460

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

6,925,547

9,267,314

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

9,267,314

4,948,585

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

9,267,314

(2,341,767

)

6,925,547

9,267,314

(2,341,767

)

6,925,547

Total

9,267,314

(2,341,767

)

6,925,547

1.	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.

Turnover

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

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

Plant and machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

The subsidiary is excluded from consolidation as its inclusion is not material for the purpose of giving a true and fair view.

Stocks

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

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are recognised in the Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial instruments are initially measured at transaction price unless the arrangement constitutes a financing transaction which includes transaction costs for financial instruments not subsequently measured at fair value.

Subsequent to initial recognition, they are measured as set out below. A financing transaction is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Classification

Financial instruments are classified as either ‘basic’ or ‘other’ in accordance with Chapter 11 of FRS 102.

Subsequent measurement

Loans and receivables are measured at amortised cost, using the effective interest method. Trade debtors and trade payables are recognised at the undiscounted amount owed by the customer or to the supplier, which is normally the invoice amount.

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.

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.

The assets of the scheme are held separately from those of the company in an independently administered fund.

Level of rounding

The figures presented in the financial statements are rounded to the nearest pound.

Going concern

As part of the directors' consideration of the appropriateness of adopting the going concern basis in preparing the financial statements, a range of severe scenarios have been reviewed. The assumptions modelled are based on the estimated potential impact the company's order book and assessment of management reports to date and over the course of the next 18 months. Under each scenario, mitigating actions are all within management control, can be initiated as they relate to discretionary spend, and do not impact the ability to meet demand. These mitigating actions include the option to reduce all non-essential and non-committed capex where and when necessary.

The company has reported net profit after tax in the sum of £501,782 (2023: £609,734) and net reserves amounting to £12,389,768 (2023: £12,167,986) for the year ended 31 December 2024. In addition, the company also has reasonable cash balances at the balance sheet date.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Dividend

Interim dividends are recognised when they are paid to the Company’s shareholders. Final dividends are recognised when they are approved by shareholders.

2.

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:

31.12.24

31.12.23

£

£

United Kingdom

1,922,764

3,185,937

Europe

11,403,234

13,057,835

Rest of the World

2,685,011

2,760,452

16,011,009

19,004,224

3.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

1,128,319

1,188,931

Social security costs

145,753

147,158

Other pension costs

200,944

133,065

1,475,016

1,469,154

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

31.12.24

31.12.23

Directors

3

3

Administration Staff

10

10

13

13

31.12.24

31.12.23

£

£

Directors' remuneration

743,316

775,464

Information regarding the highest paid director is as follows:

31.12.24

31.12.23

£

£

Emoluments etc

345,011

353,570

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

25,274

15,702

Auditors' remuneration

13,205

11,952

Foreign exchange differences

197,450

335,527

5.	EXCEPTIONAL ITEMS

Exceptional items include loans that have been written off from Webb Wells Asia Partnership a business under control of the director Mr P. Webb.

6.

LOANS

31.12.24

31.12.23

£

£

Loan write off

(347,758

)

416,614

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

183,510

325,756

Tax on profit

183,510

325,756

UK corporation tax has been charged at 25% (2023 - 25%).

Reconciliation of total tax charge included in profit and loss

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

31.12.24

31.12.23

£

£

Profit before tax

685,292

935,490

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

171,323

233,873

Effects of:

Expenses not deductible for tax purposes

9,595

110,881

Depreciation in excess of capital allowances

2,592

1,404

Marginal Relief

-

(20,402

)

Total tax charge

183,510

325,756

8.

DIVIDENDS

31.12.24

31.12.23

£

£

Ordinary Share Capital shares of £1 each

Interim

280,000

280,000

9.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

178,401

210,206

45,125

433,732

Additions

-

5,923

44,500

50,423

At 31 December 2024

178,401

216,129

89,625

484,155

DEPRECIATION

At 1 January 2024

60,657

197,265

21,666

279,588

Charge for year

3,568

4,716

16,990

25,274

At 31 December 2024

64,225

201,981

38,656

304,862

NET BOOK VALUE

At 31 December 2024

114,176

14,148

50,969

179,293

At 31 December 2023

117,744

12,941

23,459

154,144

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

The subsidiary is excluded from consolidation as its inclusion is not material for the purpose of giving a true and fair view.

11.

STOCKS

31.12.24

31.12.23

£

£

Stocks

5,562,288

3,937,040

Stock is related to Finished goods items.