REGISTERED NUMBER: 04698955 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SYCHEM LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditor

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

M Barnes

C Wreyford

T J Barnes

D A Harding

L Barnes

A S Faulkner

R H Clarke

SECRETARY:

T J Barnes

REGISTERED OFFICE:

Sutherland House

1759 London Road

Leigh On Sea

Essex

SS9 2RZ

BUSINESS ADDRESS:

3 Mayflower Close

Chandlers Ford

Hampshire

SO53 4BU

REGISTERED NUMBER:

04698955 (England and Wales)

AUDITOR:

affinia

Sutherland House

1759 London Road

Leigh On Sea

Essex

SS9 2RZ

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

Sychem Limited is a private limited company based in the UK that specializes in providing disinfection, sterilization, and decontamination solutions. With over 40 years of experience, the company serves a range of sectors, including healthcare, pharmaceuticals, and laboratories. Sychem's business model revolves around a comprehensive, end-to-end approach, which includes the supply of capital equipment (such as autoclaves and washer-disinfectors), specialist chemicals, and consumables, as well as providing UKAS-accredited validation, maintenance, and aftersales support.

FAIR REVIEW OF BUSINESS

Market constraints made the market for capital projects challenging for Sychem throughout the year however, the need for maintenance and service by its customers increased during the year.

With the variability of capital projects the business has made it's key focus on the growth of it's service offerings in all of the market place that it is active in.

PRINCIPAL RISKS AND UNCERTAINTIES

Regulatory risk

The group's products and machines are manufactured to the highest quality standards to maintain industry accreditations and comply with all relevant laws and licenses.

Quality management is therefore a key priority for the business and regular monitoring is carried out. Any failings could lead to litigation and reputational damage.

The company has rigorous recruitment procedures to ensure technical staff and engineers have the appropriate qualifications and experience. Ongoing training programmes are in place.

Economic conditions and government policy

Customer appetite for capital investment will be partly influenced by macro economic factors such as interest rates, availability of finance, political stability and government tax policy.

The company manages its exposure to foreign exchange fluctuations by taking out hedging contracts where suitable.

Competition

The company remains ever alert to new entrants to the market.

The company prides itself on its reputation with customers and suppliers and by maintaining good relations throughout the supply chain, the group is able to offer an excellent level of service to clients thereby ensuring repeat custom.

Bank funding

The company does utilise bank funding for capital investment or short term working capital requirements. It maintains a good relationship with the bank and ensures that it meets it obligations under any covenant agreements.

FUTURE DEVELOPMENTS

The company will continue to work with it's extensive customer base to deliver capital projects, repair services and consumables. The residual supply of medical equipment left over from the closure of a fellow subsidiary, Sychem Surgical Limited, has been transferred to Sychem Ltd during the period since the balance sheet date. .

Sychem continues to look for opportunities to drive growth and expand its operations in strategic locations.

KEY PERFORMANCE INDICATORS

The key performance indicators of the company are:

Turnover decreased by 16%

Gross profit margin 52% (2023: 48%)

EBITDA - loss - £301,656 (2023: Profit- £747,119)

Shareholders funds decreased by 29%

ON BEHALF OF THE BOARD:

A S Faulkner - Director

30 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of sale and service of equipment to the medical and laboratory industries

DIVIDENDS

No interim dividends were paid during the year on any of the shares.

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

DIRECTORS

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

M Barnes

C Wreyford

T J Barnes

D A Harding

L Barnes

Other changes in directors holding office are as follows:

A S Faulkner - appointed 2 January 2024

R H Clarke - appointed 2 January 2024

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 auditor is 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 auditor is aware of that information.

AUDITOR

The auditor, affinia, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A S Faulkner - Director

30 September 2025

Qualified opinion

I have audited the financial statements of Sychem Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other 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, except for the possible effect on the corresponding figures of the matters described in the Basis for Qualified Opinion paragraph, 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 qualified opinion

We were not appointed as auditor of the company until after 31 December 2022 and thus did not observe the counting of physical inventories or verify the status and condition of work in progress on projects as at the end of that year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £957,133 held at 31st December 2022 by using other audit procedures.

We were therefore unable to determine whether there was any consequential effect on the cost of sales for the year ended 31st December 2023. Our audit opinion on the financial statements for the period ended 31st December 2023 was modified accordingly. Our opinion on the current period's financial statements is also modified because of the possible effect of this matter on the comparability of the current period's figures and the corresponding figures.

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, I 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 I have performed, I 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.

My 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 my Report of the Auditor thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

In my 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 I am 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, I have not identified material misstatements in the Strategic Report or the Report of the Directors.

In respect solely of the limitation on our work relating to corresponding figures referred to above:

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

- we were unable to determine whether adequate accounting records had been maintained.

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

- returns adequate for our audit have not been received 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.

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

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 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.

Auditor's responsibilities for the audit of the financial statements

My 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 Auditor that includes my 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 my procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the entity through written and verbal communication. In addition, we drew on our professional knowledge of the industry to aid our understanding.

We obtained an understanding of the systems in place designed to ensure compliance with the relevant legislation and evaluated whether these are sufficient or alternatively whether the risk of non-compliance is heightened. We also made specific enquiries of management and those charged with governance as to whether there have been any known instances of non-compliance and the results of their risk assessment.

We briefed the identified laws and regulations to our audit team, ensuring they are aware of those considered significant in nature. At the same time, the responsible individual considered whether the engagement team has the collective competence to recognise non-compliance with laws and regulations.

The company's financial statements are directly affected by company law, applicable financial reporting standards and tax legislation. Our audit tests are designed to provide sufficient expectation that we will highlight instances of non-compliance.

Owing to the nature of the entity's trade, we have identified that non-compliance with specific legislation has the potential to materially affect the disclosures in the financial statements by way of litigation or fines and penalties. Such legislation includes GDPR, employment and health and safety legislation.

In addition to holistically considering where and how fraud may occur within the company, the following specific procedures were also undertaken:

- Scrutinising journal entries, in particular those crediting cash or a revenue account; journal entries with unusual nominal combinations or journal entries posted by management;

- Evaluating assumptions made by management, in particular where these involve material accounting estimates;

- Making sure our samples include an appropriate number of random of entries selected on a random basis;

- Undertaking analytical procedures with a view to identifying unusual movements in account balances which could be indicative of fraud.

We did not identify nor do we suspect any material fraudulent activity having undertaken the above procedures.

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 my 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 my Report of the Auditor.

Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.

Graham Powling FCA (Senior Statutory Auditor)

for and on behalf of affinia

Sutherland House

1759 London Road

Leigh On Sea

Essex

SS9 2RZ

30 September 2025

TURNOVER

3

10,459,603

12,493,500

Cost of sales

5,050,585

6,437,797

GROSS PROFIT

5,409,018

6,055,703

Distribution costs

23,747

16,330

Administrative expenses

5,686,927

5,292,254

5,710,674

5,308,584

OPERATING (LOSS)/PROFIT

5

(301,656

)

747,119

Interest receivable and similar income

1,836

1,860

(299,820

)

748,979

Interest payable and similar expenses

7

16,348

11,037

(LOSS)/PROFIT BEFORE TAXATION

(316,168

)

737,942

Tax on (loss)/profit

8

(25,004

)

254,447

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(291,164

)

483,495

(LOSS)/PROFIT FOR THE YEAR

(291,164

)

483,495

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(291,164

)

483,495

FIXED ASSETS

Intangible assets

9

49,484

57,705

Tangible assets

10

423,380

527,699

472,864

585,404

CURRENT ASSETS

Stocks

11

1,310,254

1,502,661

Debtors

12

2,532,936

3,411,750

Cash at bank

125,803

46,988

3,968,993

4,961,399

CREDITORS

Amounts falling due within one year

13

2,412,152

2,671,209

NET CURRENT ASSETS

1,556,841

2,290,190

TOTAL ASSETS LESS CURRENT LIABILITIES

2,029,705

2,875,594

CREDITORS

Amounts falling due after more than one year

14

(86,765

)

(168,486

)

PROVISIONS FOR LIABILITIES

18

(101,682

)

(126,686

)

NET ASSETS

1,841,258

2,580,422

CAPITAL AND RESERVES

Called up share capital

19

2,000

450,000

Retained earnings

20

1,839,258

2,130,422

SHAREHOLDERS' FUNDS

1,841,258

2,580,422

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:

A S Faulkner - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

450,000

1,646,927

2,096,927

Changes in equity

Total comprehensive income

-

483,495

483,495

Balance at 31 December 2023

450,000

2,130,422

2,580,422

Changes in equity

Issue of share capital

(448,000

)

-

(448,000

)

Total comprehensive income

-

(291,164

)

(291,164

)

Balance at 31 December 2024

2,000

1,839,258

1,841,258

1.	STATUTORY INFORMATION

Sychem 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Research & development

Research & Development costs are capitalised and amortised over the anticipated earning period of the technology commencing in the year in which the first revenues are received

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Free on Loan

-

20% on cost

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

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets:

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities:

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financing liabilities classified as payable within one year are not amortised.

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

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Contract revenue and work-in-progress

Contract revenue is recognised when the revenue can be separated from the sale of goods and the outcome of the contract can be estimated reliably. Costs initially incurred securing the contract are expensed to the profit and loss account.

The extent to which contract revenue is recognised is dependent upon the stage of completion. The company recognises revenue based on the physical proportion of the contact completed. At such time this cannot be measured reliably, the company recognises revenue to the extent contract costs are incurred.

Amounts due from customers for contract work is recorded as work-in-progress and included within trade and other debtors. Amounts due to customers for contract work is recorded as deferred income and included in trade and other creditors.

3.

TURNOVER

The turnover and loss (2023 - 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

£

£

Servicing

4,373,841

4,041,357

Consumables and cleaning

1,663,926

1,377,936

Equipment sales

4,421,836

7,074,207

10,459,603

12,493,500

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,808,130

2,722,450

Social security costs

339,519

306,214

Other pension costs

244,846

201,797

3,392,495

3,230,461

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

2024

2023

Employees

66

61

2024

2023

£

£

Directors' remuneration

421,708

387,264

Directors' pension contributions to money purchase schemes

61,333

50,400

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

Money purchase schemes

5

3

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

123,890

122,510

Pension contributions to money purchase schemes

7,200

7,200

5.	OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024

2023

£

£

Hire of plant and machinery

13,560

24,724

Other operating leases

-

1,740

Depreciation - owned assets

51,351

51,557

Depreciation - assets on hire purchase contracts

53,989

34,852

(Profit)/loss on disposal of fixed assets

(2,854

)

269

Goodwill amortisation

8,221

8,220

Auditors' remuneration

20,500

19,500

Auditors' remuneration for non audit work

33,841

27,777

6.	EXCEPTIONAL ITEMS

2024

2023

£

£

Loan write off

(66,130

)

(5,882

)

In the prior year a loan to the value of £5,882 due from a company under the common control of one of the company's directors was written off.

In the year a loan to the value of £66,130 due from a group company was written off.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Hire purchase

16,348

11,037

8.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

-

154,639

Deferred tax

(25,004

)

99,808

Tax on (loss)/profit

(25,004

)

254,447

9.	INTANGIBLE FIXED ASSETS

Patents

and

Development

Goodwill

licences

costs

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

164,405

19,722

147,411

331,538

AMORTISATION

At 1 January 2024

126,422

-

147,411

273,833

Amortisation for year

8,221

-

-

8,221

At 31 December 2024

134,643

-

147,411

282,054

NET BOOK VALUE

At 31 December 2024

29,762

19,722

-

49,484

At 31 December 2023

37,983

19,722

-

57,705

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Free on

machinery

fittings

vehicles

Loan

Totals

£

£

£

£

£

COST

At 1 January 2024

521,716

80,961

353,405

10,000

966,082

Additions

4,900

2,070

-

-

6,970

Disposals

-

-

(30,235

)

(10,000

)

(40,235

)

At 31 December 2024

526,616

83,031

323,170

-

932,817

DEPRECIATION

At 1 January 2024

290,760

44,373

93,250

10,000

438,383

Charge for year

35,228

5,799

64,313

-

105,340

Eliminated on disposal

-

-

(24,286

)

(10,000

)

(34,286

)

At 31 December 2024

325,988

50,172

133,277

-

509,437

NET BOOK VALUE

At 31 December 2024

200,628

32,859

189,893

-

423,380

At 31 December 2023

230,956

36,588

260,155

-

527,699