REGISTERED NUMBER: 02033617 (England and Wales)

JOHN LING & SON LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2023 TO 30 SEPTEMBER 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

to

4

Report of the Independent Auditors

5

to

8

Income Statement

9

Other Comprehensive Income

10

Statement of Financial Position

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

to

22

DIRECTORS:

Mrs S Harris

Mrs S Ling

J S Ling

J Ling

H J B Harris

Mrs D Ling

REGISTERED OFFICE:

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

REGISTERED NUMBER:

02033617 (England and Wales)

SENIOR STATUTORY AUDITOR:

Tara Bellamy FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

BANKERS:

Santander

Bridle Road

Bootle

Merseyside

L30 4GB

The directors present their strategic report for the period 1 April 2023 to 30 September 2024.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development of out company during the period and its position at the period end. Our review is consistent with the size and non complex nature of our business and is written in the context of the risks and uncertainties we face. The company continue to operate a number of family entertainment centres offering a combination of arcade gaming and beverage services. We consider that our key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, profits before tax and net assets. The financial statements for the period do reflect two summer seasons which return the highest output for the business therefore not being directly comparable to the prior period. In our opinion, the company will have sufficient resources available to manage its business risks and we expect that the present level of activity will be sustained for the foreseeable future.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is affected by a number of factors, the principal ones of which are:

- The company is exposed to the risk of negative developments in the wider economy and the sector in which it operates, either directly or through the impact on the company's bankers, suppliers or customers. These developments can result in recession, inflation, deflation, restrictions in the availability of credit, impact on demand from customers, problems in the supplier base, increases in financing costs or in the cost of utilities. Such developments might increase operating costs, lower asset values or result in the businesses being unable to meet in full its strategic objectives.

- The company operates in a competitive market, and failure to compete effectively in terms of price and quality can have an adverse effect on demand and / or margins.

The company mitigates risk in several ways:

- Management and staff at all levels work closely with suppliers to operate as effectively and efficiently as possible, whilst maintaining long term working relationships and good lines of communication.

- The company implements a value focused pricing model and event programming strategy as well as continued investment in gaming content and hardware upgrades.

POSITION AT THE FINANCIAL REPORTING DATE

The directors consider the company to be in a solid financial position at the financial position date, with accumulated distributable reserves of approximately £5,606,776.

Management remains mindful of the competitive environment in which the company operates and the need to maintain close control over the company's working capital and financial position.

BORROWINGS AND RISK MANAGEMENT

The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the group operations and capital investment. The company's approach to managing other risks applicable to the financial instruments minimised the risk to a level that the Directors consider acceptable.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ON BEHALF OF THE BOARD:

J S Ling - Director

30 September 2025

The directors present their report with the financial statements of the company for the period 1 April 2023 to 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of operating amusement arcades.

DIVIDENDS

Interim dividends per share on the B Ordinary £1 shares were paid as follows:

£48

- 31 March 2024

£24

- 30 September 2024

£72

The directors recommend that no final dividend be paid on these shares.

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

The total distribution of dividends for the period ended 30 September 2024 will be £ 144,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mrs S Harris

Mrs S Ling

J S Ling

J Ling

H J B Harris

Mrs D Ling

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.

ON BEHALF OF THE BOARD:

J S Ling - Director

30 September 2025

Qualified opinion

We have audited the financial statements of John Ling & Son Limited (the 'company') for the period ended 30 September 2024 which comprise the Statement of Profit or Loss, the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 International 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, except for the effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit 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 qualified opinion

We have been unable to verify the valuation of the investment property of £957,998 at 30 September 2024 to confirm the balance held is materially in line with the fair valuation of the properties. Based on market data and local valuations, our procedures indicate that the investment properties could be materially undervalued at 30 September 2024.

We were not able to observe the counting of the physical stocks at 30 September 2024 as we were not appointed as auditors until after this date. We were also unable to satisfy ourselves by alternative means concerning the stock quantities of £166,503 held at 30 September 2024 by using other audit procedures as the company was unable to provide a stock report as at the 30 September 2024. Consequently, we were unable to determine whether any adjustment to this amount at 30 September 2024 was necessary or whether there was any consequential effect on the cost of sales for the period ended 30 September 2024.

We were not able to observe the counting of cash at 30 September 2024 as we were not appointed as auditors until after this date. We were also unable to satisfy ourselves by alternative means concerning the cash balance of £312,942 at 30 September 2024 by using other audit procedures as the company was unable to provide a cash reconciliation at the 30 September 2024. Consequently, we were unable to determine whether any adjustment to this amount at 30 September 2024 was necessary or whether there was any consequential effect on other areas of the financial statements for the period ended 30 September 2024.

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 qualified opinion. The basis for qualifying our opinion on the financial statements is that there are significant deficiencies in internal controls, meaning that material balances in the financial statements cannot be verified.

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 section of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in 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. As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the stock quantities of £166,503, cash balance of £312,942 and valuation of investment property of £957,998 held at 30 September 2024. We have concluded that where the other information refers to the stock balance, cash balance, investment property, or related balances such as cost of sales, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matters described in the basis for qualified opinion section of our report, 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 period for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, 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 Report of the Directors.

Arising solely from the limitation on scope of our work relating to stock and cash, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

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:

- returns adequate for our audit have not been received 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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgmental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior period estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations, Company Law and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management. We have performed audit work through enquiries with management regarding any non-compliance and reviewed all available information to assess whether any breaches have been found. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

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 auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Tara Bellamy FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

30 September 2025

TURNOVER

3

9,448,677

4,704,201

Cost of sales

2,050,479

1,047,207

GROSS PROFIT

7,398,198

3,656,994

Administrative expenses

5,450,750

2,782,183

1,947,448

874,811

Other operating income

118,494

17,932

OPERATING PROFIT

5

2,065,942

892,743

Interest receivable and similar income

6

48,206

-

2,114,148

892,743

Interest payable and similar expenses

7

109,293

42,690

PROFIT BEFORE TAXATION

2,004,855

850,053

Tax on profit

8

558,164

218,990

PROFIT FOR THE FINANCIAL PERIOD

1,446,691

631,063

PROFIT FOR THE PERIOD

1,446,691

631,063

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,446,691

631,063

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

3,575,795

3,442,215

Investment property

12

957,998

957,998

4,533,793

4,400,213

CURRENT ASSETS

Stocks

13

166,503

169,364

Debtors

14

1,343,272

937,643

Cash at bank and in hand

2,336,772

1,045,499

3,846,547

2,152,506

CREDITORS

Amounts falling due within one year

15

2,511,121

627,962

NET CURRENT ASSETS

1,335,426

1,524,544

TOTAL ASSETS LESS CURRENT LIABILITIES

5,869,219

5,924,757

CREDITORS

Amounts falling due after more than one year

16

-

(1,370,973

)

PROVISIONS FOR LIABILITIES

20

(257,443

)

(244,699

)

NET ASSETS

5,611,776

4,309,085

CAPITAL AND RESERVES

Called up share capital

21

5,000

5,000

Retained earnings

22

5,606,776

4,304,085

SHAREHOLDERS' FUNDS

5,611,776

4,309,085

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

J S Ling - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2022

5,000

3,737,022

3,742,022

Changes in equity

Dividends

-

(64,000

)

(64,000

)

Total comprehensive income

-

631,063

631,063

Balance at 31 March 2023

5,000

4,304,085

4,309,085

Changes in equity

Dividends

-

(144,000

)

(144,000

)

Total comprehensive income

-

1,446,691

1,446,691

Balance at 30 September 2024

5,000

5,606,776

5,611,776

1.	STATUTORY INFORMATION

John Ling & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 and are covered within the accounting policies:

(i) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note nine for the carrying amount of the property plant and equipment, and accounting policy note for the usual economic lives of each class of assets.

(ii) When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. See note eleven for the net carrying amount of the stock and associated provision.

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects.

Turnover

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

Turnover from the sale of goods and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Interest receivable

Interest income is recognised on a basis of when it is received by the company. Any material balances received post period end have been reviewed and included if applicable.

Rent receivable

Rental income is recognised as the company’s right to receive the income is established.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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 cost and 25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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.

Investment property

Investment property is show at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the income statement.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the av-co formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

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

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

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

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

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 the income statement in the period to which they relate.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each statement of financial position reporting date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Rendering of services

9,448,677

4,704,201

9,448,677

4,704,201

4.	EMPLOYEES AND DIRECTORS

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Wages and salaries

2,212,978

1,074,950

Social security costs

145,019

66,417

Other pension costs

34,606

16,292

2,392,603

1,157,659

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

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

Admin

126

107

Directors

6

6

132

113

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Directors' remuneration

60,584

46,487

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

Money purchase schemes

4

4

5.	OPERATING PROFIT

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

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Hire of plant and machinery

2,540

268

Depreciation - owned assets

568,472

343,480

Loss/(profit) on disposal of fixed assets

11,209

(12,832

)

Auditors' remuneration

14,250

-

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Deposit account interest

48,206

-

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Bank loan interest

109,293

41,188

VAT interest and surcharges

-

1,502

109,293

42,690

8.

TAXATION

Analysis of the tax charge

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

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Current tax:

UK corporation tax

545,329

111,147

Adjustment for prior years

91

-

Total current tax

545,420

111,147

Deferred tax

12,744

107,843

Tax on profit

558,164

218,990

Reconciliation of total tax charge included in profit and loss

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

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

Profit before tax

2,004,855

850,053

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%)

501,214

161,510

Effects of:

Expenses not deductible for tax purposes

299

-

Capital allowances in excess of depreciation

-

(50,272

)

Depreciation in excess of capital allowances

43,817

-

Timing difference on capital allowances

12,744

107,843

Group relief

90

(91

)

Total tax charge

558,164

218,990

9.

DIVIDENDS

Period

1.4.23

to

Year Ended

30.9.24

31.3.23

£

£

B Ordinary shares of £1 each

Interim

144,000

64,000

10.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2023

and 30 September 2024

50,000

AMORTISATION

At 1 April 2023

and 30 September 2024

50,000

NET BOOK VALUE

At 30 September 2024

-

At 31 March 2023

-

11.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2023

3,547,342

3,326,383

680,201

Additions

308,845

268,194

112,450

Disposals

-

(77,871

)

-

At 30 September 2024

3,856,187

3,516,706

792,651

DEPRECIATION

At 1 April 2023

1,083,925

2,559,179

476,057

Charge for period

226,241

209,573

108,830

Eliminated on disposal

-

(32,917

)

-

At 30 September 2024

1,310,166

2,735,835

584,887

NET BOOK VALUE

At 30 September 2024

2,546,021

780,871

207,764

At 31 March 2023

2,463,417

767,204

204,144