REGISTERED NUMBER: 04462191 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st December 2024

for

William Gilder Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

Mr William Gilder

Mr Melvyn Evans

REGISTERED OFFICE:

Teddington Hands

Evesham Road

Tewkesbury

Gloucestershire

GL20 8NE

REGISTERED NUMBER:

04462191 (England and Wales)

AUDITORS:

Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

BANKERS:

Barclays Bank Plc

128 High Street

Cheltenham

Gloucestershire

GL50 1EG

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

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year 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's principal activities during the year have remained unchanged.

We consider that our key finance performance indicators are those that communicate the financial performance and strength of the Company as a whole, these being turnover, gross margin and return on equity.

The gross profit for the year amounted to £2,273,625 compared to £2,704,208 in the previous year, this represents a gross margin of 11.08% as compared with 13.89% for the previous year.

There was an operating profit for the year of £1,377,218 compared to £1,729,711 in the previous year.

The Directors and Management continue to focus their efforts on regular detailed reporting of the Business segments to identify under performed areas with a view to improving efficiency, and highlighting commercial issues which require resolution.

The aim continues to be to develop and profitably grow the business by targeted organic growth.

PRINCIPAL RISKS AND UNCERTAINTIES

As a leader in the market, the company works hard to maintain its position at the forefront.

The Directors have identified certain significant risks to the business and these are identified below together with measures which have been taken to mitigate them.

The company has provided security over the loans and bank overdraft by way of fixed and floating charges over the company and also its related parties by way of a cross party guarantee. The directors regularly monitor the net cash position across the company and takes action as required.

Customers. The Company is working with Customers who do not pose a significant risk of non-payment, although their finances are monitored. Business is secured from different business units, so that the closure of one would not be expected to pose significant problems to the Company.

Business interruption. Contingency plans have been prepared to enable us to react swiftly to rectify any interruption caused by failure of computer systems or utilities.

The Directors have reviewed the Company's insurance policies which are fully up to date.

The Company takes comprehensive measures to ensure the health and safety of employees and the environment in which they work are safe. The Directors consider that the Company is fully compliant with all relevant legislation.

RESEARCH AND DEVELOPMENT ACTIVITIES

Research and development activities continues to be a high priority with the development of new products and maintaining the technological excellence of existing products. During the year ended 31 December 2024, William Gilder Limited continued to invest resources into advancing its activities and procedures to provide high quality goods to its customers.

ON BEHALF OF THE BOARD:

Mr William Gilder - Director

30th September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of transport of waste liquids and solids, machinery trading, provision of truck stop facilities, property rental, farming and the sale of livestock.

DIVIDENDS

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

DIRECTORS

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

Mr William Gilder

Mr Melvyn Evans

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The company has made qualifying third party indemnity provisions for the benefit of its directors during the period. These provisions remain in force at the reporting date.

DISCLOSURE IN THE STRATEGIC REPORT

Information regarding credit risk and research and development can be found in the Strategic 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). 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr William Gilder - Director

30th September 2025

Opinion

We have audited the financial statements of William Gilder Limited (the 'company') for the year ended 31st December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 31st 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.

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.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, we have:

-

obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework; and

-

inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Companies Act 2006 (and related legislation), laws and regulations relating to the employment and payment of staff including, but not limited to, the Employment Rights Act 1996, the National Minimum Wage Act 1998 and the Pensions Act 2008, and laws and regulations relating to tax compliance, specifically corporation tax and VAT.

We performed audit procedures to detect non-compliances which may have a material impact on the financial statements, which included reviewing the financial statement disclosures. This includes sample testing of monthly payroll records for the calculation of gross wages, payroll taxes and pension costs. We have also reviewed corporation tax and VAT calculation for the year for indications of material errors, including testing of the VAT treatment on a sample of sales and purchases.

We identified the areas of the financial statements most susceptible to fraud to be management's judgement in calculating recharges to and from other group companies. Audit procedures performed included, but were not limited to, reviewing managements reasoning and workings behind these calculations.

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.

Robert Iestyn Richards FCA CTA FCCA (Senior Statutory Auditor)

for and on behalf of Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

30th September 2025

TURNOVER

4

20,519,594

19,472,389

Cost of sales

18,245,969

16,768,181

GROSS PROFIT

2,273,625

2,704,208

Administrative expenses

1,387,277

1,395,059

886,348

1,309,149

Other operating income

490,870

420,562

OPERATING PROFIT

7

1,377,218

1,729,711

Interest receivable and similar income

8

22,654

9,016

1,399,872

1,738,727

Gain/loss on revaluation of assets

421,224

(526,901

)

1,821,096

1,211,826

Interest payable and similar expenses

9

1,014,106

881,931

PROFIT BEFORE TAXATION

806,990

329,895

Tax on profit

10

114,366

385,312

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

692,624

(55,417

)

OTHER COMPREHENSIVE INCOME

Revaluation of tangible fixed assets

855,616

(474,949

)

Income tax relating to other comprehensive income

(209,905

)

(137,703

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

645,711

(612,652

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,338,335

(668,069

)

FIXED ASSETS

Tangible assets

12

26,537,552

24,541,534

Investment property

13

3,972,000

3,760,000

30,509,552

28,301,534

CURRENT ASSETS

Stocks

14

1,404,217

1,386,279

Debtors

15

9,178,358

8,722,046

Cash at bank and in hand

1,671,583

555,783

12,254,158

10,664,108

CREDITORS

Amounts falling due within one year

16

13,080,333

15,082,426

NET CURRENT LIABILITIES

(826,175

)

(4,418,318

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,683,377

23,883,216

CREDITORS

Amounts falling due after more than one year

17

(11,430,065

)

(7,330,943

)

PROVISIONS FOR LIABILITIES

21

(2,440,857

)

(2,078,153

)

NET ASSETS

15,812,455

14,474,120

CAPITAL AND RESERVES

Called up share capital

22

2

2

Revaluation reserve

23

3,668,698

3,022,987

Non-distributable reserve

23

123,346

90,300

Retained earnings

23

12,020,409

11,360,831

SHAREHOLDERS' FUNDS

15,812,455

14,474,120

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

Mr William Gilder - Director

Called up

share

Retained

Revaluation

Non-distributable

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1st January 2023

2

11,426,624

3,635,639

79,924

15,142,189

Changes in equity

Total comprehensive income

-

(65,793

)

(612,652

)

10,376

(668,069

)

Balance at 31st December 2023

2

11,360,831

3,022,987

90,300

14,474,120

Changes in equity

Total comprehensive income

-

659,578

645,711

33,046

1,338,335

Balance at 31st December 2024

2

12,020,409

3,668,698

123,346

15,812,455

1.	STATUTORY INFORMATION

William Gilder 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 as modified by the revaluation of certain assets.

The company has taken advantage of the following disclosure exemptions 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;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

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.

GOING CONCERN

In preparing these financial statements, the directors have considered whether the going concern basis of preparation remains appropriate. To make this assessment the directors have considered the current financial position of the company and anticipated future cashflows for a period of at least 12 months from the signing of these financial statements.

The company is reliant on short term borrowings from the bank, which are secured by way of legal charges over the company and other subsidiaries of the parent company William Gilder Group Limited.

TURNOVER

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has passed to the buyer (usually on dispatch of the goods) and the amount of turnover can be measured reliably.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses, except for freehold property which are measured at fair value.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery

-

10% on cost and 25%, 20% and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

33% on reducing balance

Office furniture

-

15% on reducing balance

Leasehold property

-

10% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to the profit or loss.

Freehold property is not depreciated. The residual value at the end of the useful economic life is not expected to be materially different from the revalued cost.

Freehold property included within assets under construction are not depreciated during the period of construction, on the basis that it is impractical to reliably revalue such assets until the construction has been completed.

GOVERNMENT GRANTS

Government grants are recognised on the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable.

A grant that imposes specified future performance-related conditions is recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

FINANCIAL INSTRUMENTS

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations 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 payables are recognised initially at transaction.

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.

RESEARCH AND DEVELOPMENT

Expenditure on research and development is written off in the year in which it is incurred.

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

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.

HIRE PURCHASE LEASES

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payment. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest payments. The interest is charged to the income statement so as to produce a constant rate of interest over the lease term.

OPERATING LEASES

Rents receivable and payable under operating leases are credited or charged to the income statement on a straight line basis over the term of the individual leases to which they relate.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The company makes estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Depreciation

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimates, based on the technological advancement, future investment, economic utilisation and the physical condition of the assets.

Rates of depreciation are considered on a line by line basis and disclosed within the accounting policy for depreciation.

Valuation of freehold property

Freehold property is revalued to its deemed market value at the end of each year, either by an independent valuer or by the directors of the company. The actual valuation may have been significantly different had the freehold property been put up for sale by the company at the year end.

The year end value of freehold property included within tangible fixed assets can be found in note 12 and the year end value of freehold property included within investment property can be found in note 13.

4.

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:

2024

2023

£

£

Transport services

18,100,666

17,142,549

Machinery sales

800,662

590,994

Machinery parts and services

495,696

512,161

Fuel sales

101,915

141,154

Livestock sales

866,273

774,003

Other services

154,382

311,528

20,519,594

19,472,389

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

5,288,503

5,094,242

Social security costs

538,959

512,024

Other pension costs

102,529

97,433

5,929,991

5,703,699

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

2024

2023

Employees

138

137

All pension costs relate to defined contribution schemes only.

6.	DIRECTORS' EMOLUMENTS

2024

2023

£

£

Directors' remuneration

66,314

66,629

Directors' pension contributions to money purchase schemes

166

166

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

Money purchase schemes

1

1

7.	OPERATING PROFIT

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

2024

2023

£

£

Operating lease income

(166,886

)

(193,570

)

Depreciation - owned assets

2,015,461

1,917,848

Profit on disposal of fixed assets

(281,861

)

(278,381

)

Auditors' remuneration

13,500

13,000

Foreign exchange differences

20

(32

)

Rent paid under operating leases

68,000

68,000

Government grant income

(92,154

)

-

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

2024

2023

£

£

Bank interest receivable

10,524

34

HMRC interest received

12,130

8,982

22,654

9,016

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest payable

755,425

680,776

Hire purchase interest payable

258,681

201,155

1,014,106

881,931

10.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

Group relief compensation

(38,433

)

(196,521

)

Deferred tax:

Origination and reversal of timing differences

152,799

385,470

Prior year adjustments

-

(691

)

Effect of changes in tax rate

-

197,054

Total deferred tax

152,799

581,833

Tax on profit

114,366

385,312

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

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

2024

2023

£

£

Profit before tax

806,990

329,895

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.521%)

201,748

77,595

Effects of:

Expenses not deductible for tax purposes

2,059

998

Impairment (and reversal) of property

(94,292

)

114,271

Depreciation on tangible fixed assets excluded from the capital allowance pool

4,851

4,565

Super deduction on additions to tangible fixed assets

-

(8,480

)

Prior year adjustments

-

(691

)

Effect on deferred tax of changes in tax rates

-

197,054

Total tax charge

114,366

385,312

Tax effects relating to effects of other comprehensive income

2024

Gross

Tax

Net

£

£

£

Revaluation of tangible fixed assets

855,616

(209,905

)

645,711

2023

Gross

Tax

Net

£

£

£

Revaluation of tangible fixed assets

(474,949

)

(137,703

)

(612,652

)