REGISTERED NUMBER: 02203536 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Worcester Electrical Distributors Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mrs M Troth

P S Clunn

REGISTERED OFFICE:

Units L3 & 4

Blackpole East

Blackpole Road

Worcester

Worcestershire

WR3 8SG

REGISTERED NUMBER:

02203536 (England and Wales)

AUDITORS:

Derek Young & Co Accountants LLP

Statutory Auditors

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

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

REVIEW OF BUSINESS

As is explained in Note 1 to these financial statements, the company shortened its reporting period in the prior 2023 period order to align this with that of the parent company. The figures reported in these financial statements are for a 12-month period, whereas the comparative figures represent a 9-month period and are therefore not comparable.

The turnover of £20m is in line with forecasts, and represents a £1.1m fall on prior period, (when the figures for the 9 months to 31 December 2023 are pro-rata adjusted to 12 months). This is due to 2 main factors: the company has focussed more on improving margins and less on sales growth, and the UK's construction industry contracted by 7% during 2023 and remained at a similar level throughout 2024.

The above strategy of focussing on margins has started to have a positive impact, and the gross margin increased from 25.4% in the prior period to 26.6%.

Profits before tax and exceptional items rose from £202k (£269k pro-rata adjusted) in the 2023 period to £676k in 2024, which is a pleasing improvement in the underlying financial performance of the business.

However, external financial issues elsewhere in the group, resulted in one-off costs of £1.3m being incurred by the company, bringing the result before tax to a loss position of £634k.

The company's net asset position closed the period at £3.3m, down from £4m at the close of the prior period.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a number of financial risks that include credit risk and liquidity risk.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department as required.

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity risk

The company actively manages its working capital requirements to ensure it has sufficient funds for its operations. The requirement for medium to long term debt finance will be reviewed by the board of directors based on the company's forecast requirements.

ON BEHALF OF THE BOARD:

P S Clunn - Director

30 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the distribution of specialist electrical equipment to the trade.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

FUTURE DEVELOPMENTS

Given the challenges presented by the contraction in the construction industry during the prior year, the directors are expecting to just maintain current turnover levels and margins, while controlling overheads in order to secure the future prospects of the business.

DIRECTORS

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

Mrs M Troth

P S Clunn

Other changes in directors holding office are as follows:

S Rizvi - appointed 18 November 2024

S Rizvi ceased to be a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Derek Young & Co Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P S Clunn - Director

30 September 2025

Opinion

We have audited the financial statements of Worcester Electrical Distributors Ltd (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 loss 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 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. As required by International Standard on Quality Management 1, the engagement partner is responsible for overseeing that the audit is conducted in accordance with the firm's quality management policies and procedures. The engagement partner's responsibilities include taking appropriate actions where necessary to address any identified deficiencies or deviations from the firm's policies and procedures.

The firm's policies and procedures are designed to ensure that the audit is conducted in accordance with ISAs UK and applicable legal and regulatory requirements, and that reports issued are appropriate in the circumstances.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design 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 irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

- the results of our enquiries of management about their own identification and assessment of the risks of irregularities

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

As a result of performing the above, we identified management override of controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements ;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Young BSc FCA (Senior Statutory Auditor)

for and on behalf of Derek Young & Co Accountants LLP

Statutory Auditors

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

30 September 2025

TURNOVER

20,156,143

15,934,439

Cost of sales

14,790,883

11,879,509

GROSS PROFIT

5,365,260

4,054,930

Distribution costs

473,499

353,268

Administrative expenses

3,873,777

3,224,706

4,347,276

3,577,974

OPERATING PROFIT

5

1,017,984

476,956

Write down of intercompany debtor balances & group restructuring costs

6

1,310,289

-

(292,305

)

476,956

Interest payable and similar expenses

7

342,122

275,021

(LOSS)/PROFIT BEFORE TAXATION

(634,427

)

201,935

Tax on (loss)/profit

8

53,135

39,993

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(687,562

)

161,942

(LOSS)/PROFIT FOR THE YEAR

(687,562

)

161,942

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(687,562

)

161,942

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

348,405

417,705

348,405

417,705

CURRENT ASSETS

Stocks

11

1,515,552

1,354,857

Debtors

12

8,820,774

9,162,368

Cash at bank and in hand

83,668

53,552

10,419,994

10,570,777

CREDITORS

Amounts falling due within one year

13

6,645,664

6,450,714

NET CURRENT ASSETS

3,774,330

4,120,063

TOTAL ASSETS LESS CURRENT LIABILITIES

4,122,735

4,537,768

CREDITORS

Amounts falling due after more than one year

14

799,281

526,752

NET ASSETS

3,323,454

4,011,016

CAPITAL AND RESERVES

Called up share capital

18

100

100

Retained earnings

19

3,323,354

4,010,916

SHAREHOLDERS' FUNDS

3,323,454

4,011,016

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

P S Clunn - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

3,848,974

3,849,074

Changes in equity

Total comprehensive income

-

161,942

161,942

Balance at 31 December 2023

100

4,010,916

4,011,016

Changes in equity

Total comprehensive income

-

(687,562

)

(687,562

)

Balance at 31 December 2024

100

3,323,354

3,323,454

Cash flows from operating activities

Cash generated from operations

1

(72,109

)

1,374,347

Interest paid

(342,122

)

(275,021

)

Tax paid

(295,043

)

-

Net cash from operating activities

(709,274

)

1,099,326

Cash flows from investing activities

Purchase of tangible fixed assets

(14,814

)

(38,821

)

Sale of tangible fixed assets

17,874

5,524

Net cash from investing activities

3,060

(33,297

)

Cash flows from financing activities

New loans in year

1,500,000

-

Loans repaid

(1,445,645

)

(521,838

)

Loan to parent company

681,975

(580,000

)

Net cash from financing activities

736,330

(1,101,838

)

Increase/(decrease) in cash and cash equivalents

30,116

(35,809

)

Cash and cash equivalents at beginning of year

2

53,552

89,361

Cash and cash equivalents at end of year

2

83,668

53,552

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

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

(Loss)/profit before taxation

(634,427

)

201,935

Depreciation charges

75,673

64,117

Profit on disposal of fixed assets

(9,432

)

(5,523

)

Finance costs

342,122

275,021

(226,064

)

535,550

(Increase)/decrease in stocks

(160,695

)

397,161

(Increase)/decrease in trade and other debtors

(340,381

)

1,005,539

Increase/(decrease) in trade and other creditors

655,031

(563,903

)

Cash generated from operations

(72,109

)

1,374,347

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

83,668

53,552

Period ended 31 December 2023

31.12.23

1.4.23

£

£

Cash and cash equivalents

53,552

89,361

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

53,552

30,116

83,668

53,552

30,116

83,668

Debt

Debts falling due within 1 year

(695,784

)

218,173

(477,611

)

Debts falling due after 1 year

(526,752

)

(272,529

)

(799,281

)

(1,222,536

)

(54,356

)

(1,276,892

)

Total

(1,168,984

)

(24,240

)

(1,193,224

)

1.	SHORTENING OF PRIOR FINANCIAL PERIOD

During the prior 2023 reporting period, the company changed its financial year-end from 31 March to 31 December. Consequently, the comparative figures were prepared for the nine-month period ended 31 December 2023. This was a change from the usual twelve-month period ending 31 March. As a result, the comparative figures presented in the income statement and other comprehensive income, the statement of changes in equity, the balance sheet, and the statement of cash flows are not entirely comparable with those of the current year.

2.	STATUTORY INFORMATION

Worcester Electrical Distributors Ltd 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 principal activity of the company in the year under review was the distribution of specialist electrical equipment to the trade.

3.	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

As permitted by FRS 102, paragraph 33.1A, the company has not disclosed transactions between the parent company and wholly owned subsidiary of the group. The company is a wholly owned subsidiary of RDCP Electrical 1 Limited, which prepares consolidated financial statements that include this company. Those consolidated financial statements are publicly available from Companies House, Crown Way, Cardiff, CF14 3UZ.

Significant judgements and estimates

The financial statements do not contain any significant judgements or estimation uncertainty.

Intangible assets

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

Tangible fixed assets

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

Improvements to property

-

over the term of the lease

Fixtures, fittings & equipment

-

10% - 25% on cost

Motor vehicles

-

25% on cost

Tangible fixed assets are stated at cost less depreciation.

Stocks

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

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.

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.

Revenue recognition

Turnover represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

The company recognises revenue when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Hire purchase and leasing commitments

Rentals under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Wages and salaries

2,475,753

1,910,990

Social security costs

245,186

192,840

Other pension costs

198,902

114,579

2,919,841

2,218,409

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

period

1.4.23

year ended

to

31.12.24

31.12.23

Administration

20

21

Sales

22

23

Warehouse

26

28

68

72

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Directors' remuneration

236,196

259,850

Directors' pension contributions to money purchase schemes

77,688

33,937

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Emoluments etc

153,551

191,733

Pension contributions to money purchase schemes

49,980

29,970

5.	OPERATING PROFIT

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

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Depreciation - owned assets

75,672

64,117

Profit on disposal of fixed assets

(9,432

)

(5,523

)

Auditors' remuneration

13,000

9,900

- Other services

8,000

6,000

Operating leases (property)

213,015

156,344

6.	EXCEPTIONAL ITEMS

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Write down of intercompany debtor balances & group restructuring costs

(1,310,289

)

-

The exceptional item mostly relates to group refinancing and restructuring following the former parent company of Worcester Electrical Distributors Limited (WED) going into administration on 3 July 2024. The balance owed to WED by the new parent company is £631,975 less than the balance owed by the former parent company. Also included is £628,314 in connection with group refinancing and restructuring costs. The remaining £50,000 is the write off of a balance owed by a company in the wider group that was liquidated during 2024.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Bank interest

9,404

81

Factoring interest

332,718

274,940

342,122

275,021

8.

TAXATION

Analysis of the tax charge

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

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

53,135

39,993

Tax on (loss)/profit

53,135

39,993

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:

period

1.4.23

year ended

to

31.12.24

31.12.23

£

£

(Loss)/profit before tax

(634,427

)

201,935

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

(158,607

)

50,484

Effects of:

Expenses not deductible for tax purposes

6,205

4,231

Depreciation in excess of capital allowances

19,605

7,492

Disposal of assets

(2,358

)

(1,381

)

Group relief

(38,598

)

(20,833

)

Group balance write down

170,494

-

Group restructuring costs

56,394

-

Total tax charge

53,135

39,993