REGISTERED NUMBER: 01271226 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Period

1 July 2023 to 31 December 2024

for

Colchester Zoo Enterprises Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

R Spurgeon

Mrs K Goodrich

A C Mclaughlin

REGISTERED OFFICE:

Stanway Hall

Maldon Road

Stanway

Colchester

Essex

CO3 0SL

REGISTERED NUMBER:

01271226 (England and Wales)

AUDITORS:

SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2/8 Oriel Road

Bootle

Merseyside

L20 7EP

This strategic report contains a review of the business in relation to the financial performance for the 18 months and its position at the end of the period. It also includes the Directors view of the principal risks and uncertainties facing the company.

REVIEW OF BUSINESS & FINANCIAL PERFORMANCE

The results for the period and the financial position of the group are shown in the annexed financial statements.

Turnover showed a slight increase on a year to year basis, but after extraordinary adjustments. Profits were maintained at a reasonable level and the Zoo is in a healthy position going forward.

Visitor numbers were up by 3% in 2024 and we have achieved a million customers for the second year running. This is a great achievement in the current social climate. We aim to improve on these numbers and increase customer membership when the Zoo is gifted over to our Charity, Colchester Zoological Society, on 1st February 2025.

The Zoo continues to receive fantastic support from our members and visitors in the way of Donations throughout the period of these financial statements. These Donations have contributed towards the running costs in relation to the welfare of animals and maintenance of their enclosures.

Capital projects has seen the Zoo continue to improve catering outlet buildings and animal enclosures together with re-investing in the infrastructure around the Zoo. We continue to strive to enhance the members and visitors experience and invest in the future of the Zoo.

We have also a great responsibility to ensure our wonderful conservation programme at Umphafa, our Private Nature Reserve in South Africa, continues. This is a unique project by any conservation-minded zoo which we are immensely proud of, a refuge for hundreds of wild animals, employing some 30 members of the local community helping feed their families the best they can under the circumstances.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are maintaining their strategy to increase visitor numbers, turnover and profitability and have identified the following risks and uncertainties associated with this:

-

Weather, this is our greatest limiting factor. Bad weather drastically reduces attendance and hence turnover.

-

Increased competition from other attractions and leisure activities.

-

Uncertainty of our visitors due to personal spending limitations.

FINANCIAL KEY PERFORMANCE INDICATORS

Turnover for the 18 month period amounted to £29,511,124 (2023: £18,827,758) pro-rata for the 12 month period resulted in an overall 4.5% increase. GP% marginally increased for the same period.

Operating profit has decreased by £2,843,755., this included a significant one off donation of £4m to Colchester Zoological Society Limited during the period. Pro-rata and adding back one off expenditure indicated an overall decrease to profit before tax of 11%.

ON BEHALF OF THE BOARD:

A C Mclaughlin - Director

25 September 2025

The directors present their report with the financial statements of the company for the period 1 July 2023 to 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of zoo managers and operators of Colchester Zoo.

DIVIDENDS

An interim dividend of £100 per share on the Ordinary £1 shares was paid on 7 December 2023. The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the "A" £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 31 December 2024 will be £ 5,000,000 .

EVENTS SINCE THE END OF THE PERIOD

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

DIRECTORS

R Spurgeon has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs K Goodrich and A C Mclaughlin were appointed as directors after 31 December 2024 but prior to the date of this report.

Dr D A Tropeano , A S P Tropeano , Mrs S D Knuckey and Mrs J A Tropeano ceased to be directors after 31 December 2024 but prior to the date of this report.

EMPLOYEES

The company ensures that employees are involved in matters of concern to them via weekly & monthly staff newsletters and regular meetings within each department including a director or curator and department head.

The company is committed to equal opportunities for all applicants and employees, regardless of disability or background, from recruitment and selection, through training and development and promotion.

DISCLOSURE IN THE STRATEGIC REPORT

Items required under Schedule 7 to be disclosed in the directors' report can be found in the Strategic Report in accordance with Section 414C(11) of the Companies Act 2006.

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.

ON BEHALF OF THE BOARD:

A C Mclaughlin - Director

25 September 2025

Opinion

We have audited the financial statements of Colchester Zoo Enterprises Limited (the 'company') for the period ended 31 December 2024 which comprise the Statement of 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 loss for the period 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 pages three and 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:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the sector in which it operates. We determined that the following laws and regulations were most significant:

-

Those which are directly relevant to specific assertions in the financial statements.

-

Those that relate to reporting frameworks being Financial Reporting Standard 102 (FRS 102), Companies Act 2006, Corporation Tax Act, Health and Safety at Work etc. Act 1974, Food Safety Act 1990, Food Hygiene (England) Regulations 2013, Consumer Rights Act 2015, Employment Rights Act 1996, National Minimum Wage Act 1998 and Working Time Regulations 1998.

-

Those that relate to the operational activities of the company as a Zoo being Zoo Licensing Act 1981 (Amendment) Regulations 2002, Animal Welfare Act 2006 and Dangerous Wild Animals Act 1976

-

We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management, reviewing any board meeting minutes, and reviewing the legal costs incurred in the year and enquiring with management as to the circumstances around these legal costs.

-

We assessed the susceptibility of the Company's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

-

identifying the controls that management has in place to prevent and detect fraud;

-

challenging assumptions and judgements made by management in its significant accounting estimates;

-

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

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.

Suzanne Draper FCCA ACA (Senior Statutory Auditor)

for and on behalf of SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2/8 Oriel Road

Bootle

Merseyside

L20 7EP

26 September 2025

TURNOVER

3

29,511,124

18,827,758

Cost of sales

6,157,476

4,084,971

GROSS PROFIT

23,353,648

14,742,787

Administrative expenses

22,613,639

10,989,516

740,009

3,753,271

Other operating income

368,569

199,062

OPERATING PROFIT

5

1,108,578

3,952,333

Unpaid share premium

cancelled

6

1,980,000

-

(871,422

)

3,952,333

Interest receivable and similar income

478,759

134,953

(392,663

)

4,087,286

Interest payable and similar expenses

7

124,473

-

(LOSS)/PROFIT BEFORE TAXATION

(517,136

)

4,087,286

Tax on (loss)/profit

8

314,397

855,589

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(831,533

)

3,231,697

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD

(831,533

)

3,231,697

FIXED ASSETS

Tangible assets

11

5,979,524

5,908,542

CURRENT ASSETS

Stocks

12

358,464

418,381

Debtors

13

1,573,179

3,441,793

Cash at bank and in hand

3,265,970

8,502,923

5,197,613

12,363,097

CREDITORS

Amounts falling due within one year

14

2,108,263

3,467,505

NET CURRENT ASSETS

3,089,350

8,895,592

TOTAL ASSETS LESS CURRENT LIABILITIES

9,068,874

14,804,134

PROVISIONS FOR LIABILITIES

15

743,129

646,856

NET ASSETS

8,325,745

14,157,278

CAPITAL AND RESERVES

Called up share capital

16

50,000

50,200

Share premium

17

-

1,999,800

Retained earnings

17

8,275,745

12,107,278

SHAREHOLDERS' FUNDS

8,325,745

14,157,278

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

A C Mclaughlin - Director

R Spurgeon - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 July 2022

50,200

13,875,581

1,999,800

15,925,581

Changes in equity

Dividends

-

(5,000,000

)

-

(5,000,000

)

Total comprehensive income

-

3,231,697

-

3,231,697

Balance at 30 June 2023

50,200

12,107,278

1,999,800

14,157,278

Changes in equity

Issue of share capital

(200

)

-

-

(200

)

Dividends

-

(5,000,000

)

-

(5,000,000

)

Total comprehensive loss

-

(831,533

)

-

(831,533

)

Capital reduction

-

2,000,000

(1,999,800

)

200

Balance at 31 December 2024

50,000

8,275,745

-

8,325,745

Cash flows from operating activities

Cash generated from operations

1

(3,515,594

)

1,061,673

Interest paid

(124,473

)

-

Tax paid

(692,385

)

(1,409,705

)

Net cash from operating activities

(4,332,452

)

(348,032

)

Cash flows from investing activities

Purchase of tangible fixed assets

(1,434,370

)

(1,061,752

)

Sale of tangible fixed assets

51,110

-

Interest received

478,759

134,953

Net cash from investing activities

(904,501

)

(926,799

)

Decrease in cash and cash equivalents

(5,236,953

)

(1,274,831

)

Cash and cash equivalents at beginning of period

2

8,502,923

9,777,754

Cash and cash equivalents at end of period

2

3,265,970

8,502,923

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

(Loss)/profit before taxation

(517,136

)

4,087,286

Depreciation charges

1,262,256

737,335

Loss on disposal of fixed assets

51,610

-

Finance costs

124,473

-

Finance income

(478,759

)

(134,953

)

442,444

4,689,668

Decrease/(increase) in stocks

59,917

(90,642

)

Decrease/(increase) in trade and other debtors

1,934,537

(3,688,428

)

(Decrease)/increase in trade and other creditors

(5,952,492

)

151,075

Cash generated from operations

(3,515,594

)

1,061,673

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:

Period ended 31 December 2024

31.12.24

1.7.23

£

£

Cash and cash equivalents

3,265,970

8,502,923

Year ended 30 June 2023

30.6.23

1.7.22

as restated

£

£

Cash and cash equivalents

8,502,923

9,777,754

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

8,502,923

(5,236,953

)

3,265,970

8,502,923

(5,236,953

)

3,265,970

Total

8,502,923

(5,236,953

)

3,265,970

1.	STATUTORY INFORMATION

Colchester Zoo Enterprises 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.

The financial statements have been prepared for an 18 month period and so comparatives are not entirely comparable. The accounting period was extended to align with the year end of the new owners.

Significant judgements and estimates

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

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

Turnover

Turnover represents income from entrance fees to the zoo and sales via the catering and gift shop outlets, net of VAT. Income from rides, adoptions and donations are also included.

Tangible fixed assets

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

Leasehold property

-

3% on cost

Buildings

-

2% on cost

Enclosure improvements

-

10% on cost

Animals

-

not provided

Fixtures, fittings, plant & machinery

-

10% on cost

Motor vehicles

-

25% on reducing balance

Road train

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Please see the separate accounting policy for Zoo Animals.

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

Basic financial instruments include trade debtors and trade creditors. Those that are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Debt Instruments are carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the period 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 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 period 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.

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.

Zoo animals

A notional capital value of £1,000 is given to zoo animals and not depreciated. Purchases and sales appear in the financial statements as revenue items in the year in which they arise. This is in recognition of the cost to feed and keep the collection.

Holiday pay

Holiday pay is accrued where employees are entitled to carry forward holidays at the year end. This is measured as the salary cost payable for the period of absence owing.

3.

TURNOVER

Turnover represents net income from entrance fees to the zoo and sales via the catering and gift shop outlets. Income from rides, adoptions and donations are also included.

4.	EMPLOYEES AND DIRECTORS

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

Wages and salaries

10,286,879

6,014,756

Social security costs

803,127

451,460

Other pension costs

241,238

141,802

11,331,244

6,608,018

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

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

Directors

5

5

Staff

353

339

358

344

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

Directors' remuneration

356,502

234,052

Directors' pension contributions to money purchase schemes

18,540

10,840

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

4

Information regarding the highest paid director is as follows:

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

Emoluments etc

95,400

57,780

Pension contributions to money purchase schemes

6,536

4,888

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

Hire of plant and machinery

86,954

22,675

Depreciation - owned assets

1,260,668

737,333

Loss on disposal of fixed assets

51,610

-

Auditors' remuneration

34,500

21,900

6.	EXCEPTIONAL ITEMS

During the year, the company incurred exceptional costs of £1,980,000 relating to the cancellation of unpaid share premium.

On 21st January 2025, as part of a wider group restructure, the company carried out a cancellation and reduction of share capital under S641 CA200 relating to the 200 A shares held by Dr D A Tropeano,

The financial impact of cancelling and reducing the paid share capital and the unpaid share premium resulted in a reduction to other debtors/net assets of £1,980,000 and a charge to the company's profit and loss account of the same, together with a reduction to the company's share capital of £200 and share premium ot £1,999,800. A total net amount of £20,000 was transferred to reserves reflecting the paid up share capital and share premium on the 200 A shares.

The amount has been presented separately in the profit and loss account due to the size and nature, and in order to provide a clearer understanding of the company's underlying trading performance.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.7.23

to

Year Ended

31.12.24

30.6.23

as restated

£

£

Interest payable

124,473

-