REGISTERED NUMBER: 04656447 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

The Birchman Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

Mr I G Wyrley-Birch

Mr R M Taylor

SECRETARY:

ITA Secretaries Limited

REGISTERED OFFICE:

Units Scf 1&2, South Core

Western International Market

Hayes Road

Southall

Middlesex

UB2 5XJ

REGISTERED NUMBER:

04656447 (England and Wales)

SENIOR STATUTORY AUDITOR:

Paul Laxton FCCA

AUDITORS:

Xeinadin Audit Limited

Chartered Accountants & Statutory Auditors

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD

The directors present their Strategic Report as required by the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 Chapter 4A Section 414A, as updated in Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) 2016 for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activities of the group continue to be management and IT consultancy and software sales. The business is principally related to services around Digital Transformation, Business Change, Solution Implementation, Managed Services, Continuous Business Improvement, and sales of SAP software.

The business continued to strengthen its market position in 2024, and overall, the directors are satisfied with the performance of the group. Throughout the year, the group continued to maintain and build on the relationships with its existing customer base whilst also adding significant new customers and increasing investment in sales, marketing and the development of intellectual property.

A close relationship with SAP is essential as the group continues as a leading Value-Added Reseller (VAR) of their software licences and cloud services in the UK. During 2021 the group became a member of United VARs and this membership has strengthened the group's relationship with SAP and provided additional revenue. Through this membership the group is recognised as an SAP Platinum Partner with particular focus on SAP ERP (SAP S/4HANA Public Cloud, Private Cloud and On-premise) and the use of the SAP Business Technology Platform for integrations and innovations.

Consulting services revenue remained steady and has shown significant growth potential as customers move to the latest version of ERP software (SAP S/4HANA), and customers increase investment in digital transformation. The group's focus on technology business change and transformation continues to support new consulting service engagements.

FUTURE DEVELOPMENTS

The directors expect the business to continue to be profitable in 2025.

The business is well-placed to support the following industry trends and continue to grow:

o Companies' strategy to become more agile through digital transformation.

o Companies' IT strategy to move to cloud services, adopt new innovations and increase protection from cyber security threats.

o For the SAP install base, the move from legacy SAP ERP to SAP S/4HANA.

o Strong outlook for SAP S/4HANA Public Cloud as customers replace alternative legacy ERP solutions with SAP ERP and growing mid-market companies choose SAP ERP.

o Companies' demand for continuous business improvement through process and solution optimisation, automation and the adoption of best practices.

RESULTS AND KEY PERFORMANCE INDICATORS

Revenues for the year to 31 December 2024 were £24,316,825 (2023: £22,616,843) and the profit for the year before taxation amounted to £6,728,118 (2023: £7,111,267). The group finished the year with net assets of £6,696,266 (2023: £7,632,097).

The directors have a number of key performance indicators by which they measure the ongoing activities of the group. These measures include revenue, gross margin, operating margin, cash balances, aged receivables, staff utilisation and customer service level agreements.

The group companies maintain a balance of permanent employees and external partners to ensure that the business is both adaptable to accommodate growth and flexible in terms of cost base. The resource mix allows the directors to manage any fluctuations in revenue, should they occur.

PRINCIPAL RISKS AND UNCERTAINTIES

The global economic challenges arising from the situation in and with Ukraine, the Middle East and China; and the increased rate of taxes and inflation continue to present challenges for the group and its customers. There is a risk that USA tariffs extend to services which would impact the group and the goods tariff may present challenges to the group's customers. However, the group continues to be agile and competitive as a business.

Despite the wider economic disruption caused by the challenges above, the directors believe that the business is well protected for the medium and long-term.

The group has annuity revenue from a wide range of customers for both managed services and software licences.

The business is modestly exposed to fluctuations in the exchange rate with the US dollar. However, a hedge is created by ensuring that any external costs related directly to a revenue contract in US dollars are in the same currency.

ON BEHALF OF THE BOARD:

Mr R M Taylor - Director

30 September 2025

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

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of management and IT consultancy and software sales.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £5,974,000 (2023: £7,400,800).

EVENTS SINCE THE END OF THE YEAR

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

DIRECTORS

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

Mr I G Wyrley-Birch

Mr R M Taylor

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr R M Taylor - Director

30 September 2025

Opinion

We have audited the financial statements of The Birchman Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent 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 group or the parent 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

o Enquiry of management and those charged with governance around actual and potential litigation and claims;

o Reviewing minutes of meetings of those charged with governance;

o Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

o Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Group is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, data protection laws, anti-bribery, money laundering, employment law compliance recognising the nature of the Group's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

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.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Paul Laxton FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Chartered Accountants & Statutory Auditors

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD

30 September 2025

TURNOVER

24,316,825

22,616,843

Cost of sales

14,961,582

13,147,069

GROSS PROFIT

9,355,243

9,469,774

Administrative expenses

2,647,686

2,365,248

6,707,557

7,104,526

Other operating income

93,544

(35

)

OPERATING PROFIT

5

6,801,101

7,104,491

Interest receivable and similar income

102

6,776

6,801,203

7,111,267

Interest payable and similar expenses

6

73,085

-

PROFIT BEFORE TAXATION

6,728,118

7,111,267

Tax on profit

7

1,689,949

1,673,013

PROFIT FOR THE FINANCIAL YEAR

5,038,169

5,438,254

Profit attributable to:

Owners of the parent

5,038,169

5,438,254

PROFIT FOR THE YEAR

5,038,169

5,438,254

OTHER COMPREHENSIVE INCOME

-

219

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

219

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

5,038,169

5,438,473

Total comprehensive income attributable to:

Owners of the parent

5,038,169

5,438,473

FIXED ASSETS

Tangible assets

11

23,755

17,949

Investments

12

-

-

23,755

17,949

CURRENT ASSETS

Debtors

13

4,186,514

4,369,319

Cash at bank

12,761,232

12,854,973

16,947,746

17,224,292

CREDITORS

Amounts falling due within one year

14

10,275,235

9,610,144

NET CURRENT ASSETS

6,672,511

7,614,148

TOTAL ASSETS LESS CURRENT LIABILITIES

6,696,266

7,632,097

CAPITAL AND RESERVES

Called up share capital

15

835

835

Share premium

16

29,950

29,950

Pre-acquisition reserves

16

99

99

Retained earnings

16

6,665,382

7,601,213

6,696,266

7,632,097

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:

Mr R M Taylor - Director

FIXED ASSETS

Tangible assets

11

671

1,015

Investments

12

1

1

672

1,016

CURRENT ASSETS

Debtors

13

2,791,274

3,344,609

Cash at bank

32,457

932,860

2,823,731

4,277,469

CREDITORS

Amounts falling due within one year

14

632,451

525,956

NET CURRENT ASSETS

2,191,280

3,751,513

TOTAL ASSETS LESS CURRENT LIABILITIES

2,191,952

3,752,529

CAPITAL AND RESERVES

Called up share capital

15

835

835

Share premium

16

29,950

29,950

Retained earnings

16

2,161,167

3,721,744

2,191,952

3,752,529

Company's profit for the financial year

4,413,423

6,497,376

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:

Mr R M Taylor - Director

Called up

share

Retained

Share

Pre-acquisition

Total

capital

earnings

premium

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

1,054

9,563,540

29,950

99

9,594,643

Changes in equity

Profit for the year

-

5,438,254

-

-

5,438,254

Cancellation of shares

-

219

-

-

219

Total comprehensive income

-

5,438,473

-

-

5,438,473

Dividends

-

(7,400,800

)

-

-

(7,400,800

)

Issue of share capital

(219

)

-

-

-

(219

)

Balance at 31 December 2023

835

7,601,213

29,950

99

7,632,097

Changes in equity

Profit for the year

-

5,038,169

-

-

5,038,169

Total comprehensive income

-

5,038,169

-

-

5,038,169

Dividends

-

(5,974,000

)

-

-

(5,974,000

)

Balance at 31 December 2024

835

6,665,382

29,950

99

6,696,266

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

1,054

4,624,949

29,950

4,655,953

Changes in equity

Profit for the year

-

6,497,376

-

6,497,376

Cancellation of shares

-

219

-

219

Total comprehensive income

-

6,497,595

-

6,497,595

Dividends

-

(7,400,800

)

-

(7,400,800

)

Issue of share capital

(219

)

-

-

(219

)

Balance at 31 December 2023

835

3,721,744

29,950

3,752,529

Changes in equity

Profit for the year

-

4,413,423

-

4,413,423

Total comprehensive income

-

4,413,423

-

4,413,423

Dividends

-

(5,974,000

)

-

(5,974,000

)

Balance at 31 December 2024

835

2,161,167

29,950

2,191,952

Cash flows from operating activities

Cash generated from operations

20

7,322,842

6,812,050

Interest paid

(73,085

)

-

Tax paid

(1,356,525

)

(684,274

)

Net cash from operating activities

5,893,232

6,127,776

Cash flows from investing activities

Purchase of tangible fixed assets

(13,075

)

(7,984

)

Cancellation of Shares

-

219

Interest received

102

6,776

Net cash from investing activities

(12,973

)

(989

)

Cash flows from financing activities

Share issue

-

(219

)

Equity dividends paid

(5,974,000

)

(7,400,800

)

Net cash from financing activities

(5,974,000

)

(7,401,019

)

Decrease in cash and cash equivalents

(93,741

)

(1,274,232

)

Cash and cash equivalents at beginning of year

21

12,854,973

14,129,205

Cash and cash equivalents at end of year

21

12,761,232

12,854,973

1.	STATUTORY INFORMATION

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

The principal place of business is Victorian Wing, Hare Hatch Grange, Bath Road, Hare Hatch, Berkshire, RG10 9SA.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Basis of Consolidation

The consolidated financial statements include the financial statements of the parent company and its subsidiaries. Subsidiaries are entities controlled by the Group, where control is defined as the power to govern financial and operating policies to obtain benefits.

Subsidiaries are consolidated from the date control is obtained until the date control ceases. Intra-group balances, transactions, income, and expenses are eliminated in full. Non-controlling interests are presented separately in equity and profit or loss.

Going Concern under FRS 102

The directors have made appropriate enquiries and reviewed budgets and forecasts. After considering these and the current financial position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

The preparation of the financial statements involves management making judgements and estimates that affect the reported amounts of assets, liabilities, income, and expenses. These estimates are based on historical experience and other factors believed to be reasonable under the circumstances. Actual results may differ from these estimates, and management regularly reviews and updates them as needed.

Turnover

Revenue is recognised when control of the goods or services is transferred to the customer. Service revenue, including software implementation and support, is recognised over the period the services are performed. Software revenue from license sales is recognised upon delivery or installation, with any associated support or maintenance fees recognised over the related service period. Revenue is measured at the fair value of the consideration received or receivable.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost and 10% on cost

Computer equipment

-

25% on cost and 20% on cost

Operating Leases

Rentals applicable to operating leases, where substantially all the benefit and risk of ownership remain with the lessor, are charged to the profit and loss account on a straight line basis over the lease term.

Financial instruments

The company has financial assets and financial liabilities which are measured at amortized cost. Financial assets include trade and other receivables and cash and cash equivalents. Financial liabilities include trade payables and other short-term monetary liabilities. The company has no financial instruments measured at fair value through profit or loss.

Financial assets and liabilities are initially recognised at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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

Presentation currency

The presentation currency is £ sterling. The figures in the financial statements are rounded to the nearest £ sterling.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

as restated

£

£

Wages and salaries

4,869,368

3,820,351

Social security costs

473,385

368,915

Other pension costs

78,802

66,801

5,421,555

4,256,067

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

31.12.24

31.12.23

as restated

Directors

2

2

Consultants

40

31

Administration

10

9

52

42

31.12.24

31.12.23

as restated

£

£

Directors' remuneration

294,224

287,015

Directors' pension contributions to money purchase schemes

2,642

2,642

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:

31.12.24

31.12.23

as restated

£

£

Emoluments etc

168,743

161,534

Pension contributions to money purchase schemes

1,321

1,321

Accrued pension at 31 December 2024

240

230

5.	OPERATING PROFIT

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

31.12.24

31.12.23

as restated

£

£

Depreciation - owned assets

7,269

6,068

Auditors' remuneration

24,225

25,050

Foreign exchange differences

(93,544

)

118,424

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

as restated

£

£

Interest payable

73,085

-

7.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

as restated

£

£

Current tax:

UK corporation tax

1,689,949

1,673,013

Tax on profit

1,689,949

1,673,013