REGISTERED NUMBER: 03127833 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Dhollandia UK Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

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:

Ms N Dhollander

Mr C M Lay

SECRETARY:

Ms N Dhollander

REGISTERED OFFICE:

Dhollandia UK Limited

Latham Road

Huntingdon

Cambridgeshire

PE29 6YG

REGISTERED NUMBER:

03127833 (England and Wales)

AUDITORS:

GH Audit Limited

St George's House

George Street

Huntingdon

Cambridgeshire

PE29 3GH

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

REVIEW OF BUSINESS

Financial Performance

The financial year 2024 demonstrated excellent growth, with a continued increase in turnover from the previous year. This performance was driven by a combination of robust customer demand, successful pricing strategies, and increased output capacity. Our focus on operational excellence and customer responsiveness ensured that we sustained momentum despite macroeconomic pressures and industry-wide uncertainties.

Operational Highlights

Building upon the progress made in 2023, we continued to scale our UK manufacturing capabilities, with further investment in the expansion of our facility. This enabled us to meet rising demand for our competitively priced 500kg column lifts. The enhanced production capacity not only improved delivery times but also reinforced our reputation for reliability and quality in the UK market.

During the year, we also strengthened internal processes through upgrades to our ERP system, contributing to improved inventory management, streamlined operations, and better customer service outcomes.

Market Outlook and Challenges

The transport and logistics sector remains impacted by several residual and emerging challenges. The continued ripple effects of the Covid-19 pandemic & Brexit coupled with global geopolitical tensions - including the war in Ukraine and instability in the Middle East - have led to persistent supply chain challenges and elevated costs for raw materials and components.

Additionally, inflationary pressures, particularly around energy and transportation costs, have affected both operational planning and customer purchasing patterns. Despite these headwinds, Dhollandia UK Limited has demonstrated adaptability and resilience through proactive supplier engagement, cost control measures, and risk mitigation strategies.

Strategic Objectives and Sustainability Initiatives

Our strategic objectives remain rooted in long-term sustainability, profitability, and customer satisfaction. In 2024, we reinforced our commitment to continuous improvement and innovation, supported by regular performance reviews and targeted KPIs across all key business functions.

We remain deeply committed to environmental responsibility. Our sustainability initiatives this year included further integration of renewable energy sources at our facilities, reduction of manufacturing waste, and the promotion of low-emission transportation. These initiatives are part of our broader ESG framework, aligned with both corporate responsibility and stakeholder expectations.

Dhollandia UK Limited continues to hold ISO9001-2015 accreditation, underscoring our consistent adherence to quality management standards and our ongoing investment in delivering value through excellence.

Conclusion

2024 was another year of growth and operational progress for Dhollandia UK Limited. Amidst a challenging external environment, our strategic focus, operational agility, and strong team culture allowed us to continue delivering high-quality products and services to our customers across the UK.

On behalf of the Board of Directors, I would like to extend sincere thanks to our employees, customers, suppliers, and stakeholders for their continued trust, dedication, and support.

ON BEHALF OF THE BOARD:

Ms N Dhollander - Director

29 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 distributing, fitting and maintaining tail lifts for trucks.

DIVIDENDS

Dividends distributed for the year totalled £5m (2023: £5m).

DIRECTORS

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

Ms N Dhollander

Mr C M Lay

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:

Ms N Dhollander - Director

29 September 2025

Opinion

We have audited the financial statements of Dhollandia UK Limited (the 'company') for the year 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 profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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:

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

1. The nature of the industry and sector, control environment and business performance

2. Key drivers for the remuneration policies or directors' remuneration, bonus levels and performance targets

3. Enquiries with management about their own identification and assessment of the risks of irregularities.

4. The matters discussed among the audit team regarding how and where fraud might occur and fraud indicators.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in terms of misstatements in the financial statements was in relation to stock valuation. In common with all audits under ISA's (UK), we are also required to perform specific procedures to respond to the risk of management override.The assessment of the risk of fraud in terms of misappropriation of assets highlighted fraudulent payments as a focus area.

In addition we considered the legal and regulatory framework that the company operates in, focusing on provisions of these law and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. Key laws considered include the UK Companies Act and UK Tax Legislation.

We also considered those laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the companies ability to operate or to avoid a material penalty, these include Health & Safety Legislation.

Audit response to risks identified:

The stock valuation is tested by substantive and analytical procedures including a physical inspection of the site at the balance sheet date. Areas of the valuation that are subjective and checked to corroborating evidence where possible.

Testing was undertaken on the completeness of liabilities to include both substantive and analytical procedures. Standard procedures were used to test management override including the review of year end journals and whether the judgments made in making accounting estimates are indicative of potential bias.

To cover the assessed risks in relation to fraudulent payments, we ensure that transactions are conducted in line with the company's authority matrix, together with a review of expenses in the profit and loss to ensure that they are genuine business expenses. We also perform analytical procedures to identify any unusual or unexpected relationship that may indicate risks of material misstatement due to fraud, these procedures also include the review of profit margins.

We remained alert to any indications of fraud or non compliance throughout the entire audit process.

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.

Emma Wilsher FCA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

St George's House

George Street

Huntingdon

Cambridgeshire

PE29 3GH

29 September 2025

TURNOVER

53,671,393

47,875,931

Cost of sales

44,197,508

39,594,613

GROSS PROFIT

9,473,885

8,281,318

Administrative expenses

968,005

908,776

8,505,880

7,372,542

Other operating income

100,000

100,000

OPERATING PROFIT

4

8,605,880

7,472,542

Interest receivable and similar income

94,603

64,270

PROFIT BEFORE TAXATION

8,700,483

7,536,812

Tax on profit

5

2,228,264

1,799,503

PROFIT FOR THE FINANCIAL YEAR

6,472,219

5,737,309

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

6,472,219

5,737,309

FIXED ASSETS

Tangible assets

7

11,826,336

11,927,874

CURRENT ASSETS

Stocks

8

2,029,534

2,754,547

Debtors

9

11,968,911

11,966,242

Investments

10

-

3,834,877

Cash at bank and in hand

7,301,145

2,577,575

21,299,590

21,133,241

CREDITORS

Amounts falling due within one year

11

16,672,171

18,085,028

NET CURRENT ASSETS

4,627,419

3,048,213

TOTAL ASSETS LESS CURRENT LIABILITIES

16,453,755

14,976,087

PROVISIONS FOR LIABILITIES

12

61,475

56,026

NET ASSETS

16,392,280

14,920,061

CAPITAL AND RESERVES

Called up share capital

13

550,000

550,000

Retained earnings

14

15,842,280

14,370,061

SHAREHOLDERS' FUNDS

16,392,280

14,920,061

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

Ms N Dhollander - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

550,000

13,632,752

14,182,752

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

5,737,309

5,737,309

Balance at 31 December 2023

550,000

14,370,061

14,920,061

Changes in equity

Dividends

-

(5,000,000

)

(5,000,000

)

Total comprehensive income

-

6,472,219

6,472,219

Balance at 31 December 2024

550,000

15,842,280

16,392,280

Cash flows from operating activities

Cash generated from operations

1

9,044,790

3,321,417

Tax paid

(3,105,555

)

(1,265,167

)

Net cash from operating activities

5,939,235

2,056,250

Cash flows from investing activities

Purchase of tangible fixed assets

(159,145

)

(77,375

)

Sale of tangible fixed assets

14,000

22,407

Interest received

94,603

64,270

Net cash from investing activities

(50,542

)

9,302

Cash flows from financing activities

Equity dividends paid

(5,000,000

)

(5,000,000

)

Cash withdrawn from Money Market

3,834,877

2,951,634

Net cash from financing activities

(1,165,123

)

(2,048,366

)

Increase in cash and cash equivalents

4,723,570

17,186

Cash and cash equivalents at beginning of year

2

2,577,575

2,560,389

Cash and cash equivalents at end of year

2

7,301,145

2,577,575

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

2024

2023

£

£

Profit before taxation

8,700,483

7,536,812

Depreciation charges

253,020

268,635

Profit on disposal of fixed assets

(6,337

)

(7,586

)

Finance income

(94,603

)

(64,270

)

8,852,563

7,733,591

Decrease/(increase) in stocks

725,013

(775,877

)

(Increase)/decrease in trade and other debtors

(2,669

)

66,063

Decrease in trade and other creditors

(530,117

)

(3,702,360

)

Cash generated from operations

9,044,790

3,321,417

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

7,301,145

2,577,575

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

2,577,575

2,560,389

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

2,577,575

4,723,570

7,301,145

2,577,575

4,723,570

7,301,145

Liquid resources

Current asset investments

3,834,877

(3,834,877

)

-

3,834,877

(3,834,877

)

-

Total

6,412,452

888,693

7,301,145

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of tail lifts and spare parts 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. This is usually on the dispatch of the goods.

Tangible fixed assets

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

Land and buildings - 2% on cost and not provided

Fixtures and fittings - 20% 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.

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 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 year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and 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 other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,334,269

1,161,485

Social security costs

152,183

144,270

Other pension costs

49,906

44,291

1,536,358

1,350,046

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

2024

2023

General Employees (including Directors)

39

34

2024

2023

£

£

Directors' remuneration

225,402

220,058

Directors' pension contributions to money purchase schemes

7,804

7,488

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

Money purchase schemes

1

1

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

225,402

220,058

Pension contributions to money purchase schemes

7,804

7,488

4.	OPERATING PROFIT

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

2024

2023

£

£

Depreciation - owned assets

253,020

268,635

Profit on disposal of fixed assets

(6,337

)

(7,586

)

Auditors remuneration

14,440

13,920

5.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

2,222,815

1,797,412

Deferred tax

5,449

2,091

Tax on profit

2,228,264

1,799,503

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:

2024

2023

£

£

Profit before tax

8,700,483

7,536,812

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

2,175,121

1,884,203

Effects of:

Expenses not deductible for tax purposes

17,179

1,202

Depreciation in excess of capital allowances

36,852

39,754

(Profit)/Loss on disposal of assets

(6,337

)

(1,810

)

Deferred tax

5,449

2,091

Tax rate change in year

-

(125,937

)

Total tax charge

2,228,264

1,799,503

From 1 April 2023, the main rate of Corporation Tax increased from 19% to 25%.

6.

DIVIDENDS

2024

2023

£

£

Interim

5,000,000

5,000,000

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Buildings

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

12,551,412

14,621

502,976

13,069,009

Additions

-

-

159,145

159,145

Disposals

-

-

(30,701

)

(30,701

)

At 31 December 2024

12,551,412

14,621

631,420

13,197,453

DEPRECIATION

At 1 January 2024

876,154

5,445

259,536

1,141,135

Charge for year

177,404

1,835

73,781

253,020

Eliminated on disposal

-

-

(23,038

)

(23,038

)

At 31 December 2024

1,053,558

7,280

310,279

1,371,117

NET BOOK VALUE

At 31 December 2024

11,497,854

7,341

321,141

11,826,336

At 31 December 2023

11,675,258

9,176

243,440

11,927,874

The directors believe the value of the properties to have grown since the purchases in 2000, 2016 and 2021, however they have decided not to adopt a revaluation policy.

8.

STOCKS

2024

2023

£

£

Raw materials

1,185,410

1,285,201

Finished goods

844,124

1,469,346

2,029,534

2,754,547

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,704,383

11,798,542

Other debtors

177,185

102,669

Sundry debtors and prepayments

-

298

Prepayments and accrued income

87,343

64,733

11,968,911

11,966,242

10.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Money market account

-

3,834,877

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

14,147,173

14,617,600

Tax

-

882,740

VAT

1,715,313

1,865,222

Sundry creditors & accruals

614,805

540,085

Taxation & social security

194,880

179,381

16,672,171

18,085,028

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

61,475

56,026

Deferred

tax

£

Balance at 1 January 2024

56,026

Accelerated Capital Allowances

5,449

Balance at 31 December 2024

61,475

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

550,000

Ordinary

£1

550,000

550,000

14.

RESERVES

Retained

earnings

£

At 1 January 2024

14,370,061

Profit for the year

6,472,219

Dividends

(5,000,000

)

At 31 December 2024

15,842,280

Called-up share capital - represent the nominal value of shares that have been issued

Profit and loss account - includes all current and prior retained profits and losses

15.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme and an auto-enrolment NEST scheme. The pension cost for the year ended 31 December 2024 represents the contributions payable by the company to the schemes amounted to £49,906 (2023: £44,291).