REGISTERED NUMBER: 04954829 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Just Digital Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

K Tkacz

A Grundy

REGISTERED OFFICE:

Kingfisher Way

Hinchbrooks Business Park

Huntingdon

Cambridgeshire

PE29 6FN

REGISTERED NUMBER:

04954829 (England and Wales)

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

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

REVIEW OF BUSINESS

The Company's principal activity continues to be as a supplier of design and print on demand services in mass customisation sectors, which, continue to attract new clients. This strategy along with the launch of new products across the sector and its strong financial foundation, continues to ensure Just Digital remains profitable, retains a positive cash position and the company has continued its strategic plans to achieve further substantial growth.

The overall profit for the company was in line with expectations and the directors' plans for growth.

The Company is now one year into its new ownership with US funeral services business, Messenger. This is enabling new product development and further growth to aid strategic growth as well as having a very supportive parent.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the Company's strategy are subject to several risks, the directors consider the principal ones to be:

Inflation and the Cost Of Living:

During 2024 the Company experienced increases mainly in cost of labour as they remained committed to being a Real Living Wage Foundation Employer. The Company continued focussed price negotiations with its customers and review of its cost base to cover these and justify any increases in pricing.

Competition and Market:

The print industry remains highly competitive.

IT Infrastructure:

Loss of IT infrastructure in the event of a major catastrophe. The company continues to invest in IT infrastructure, updated software, and disaster recovery solutions to minimise the risk.

FINANCIAL KEY PERFORMANCE INDICATORS (‘KPIS’)

The directors report the company's result which shows a turnover of £13,769,178 for the year ended 31 December 2024 compared to £13,747,599 for the year ended 31 December 2023 which, despite a lower death rate on previous year, reflects the companies continued growth strategy and demonstrates proven resilience, despite lower market demand overall.

Given the straightforward nature of the business, the Company's directors are of the opinion that standard profit and loss measurement technique, sufficiently provides an understanding of the Company's development performance and financial position.

Other key performance indicators include the profit/(loss) after taxation. Please refer to the results and dividends section of the directors' report for further information.

FUTURE DEVELOPMENTS

The directors have continued to support the company's growth strategy and continues to invest in technology and people. Great progression has been achieved, supported by a strong management team and board via focused growth, technology and people strategies.

ON BEHALF OF THE BOARD:

A Grundy - Director

30 September 2025

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

DIVIDENDS

An interim dividend of £3.47 per share was paid during the year making a total of £69,475. The directors do not recommend a final dividend.

DIRECTORS

A Grundy has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

N E S Heath - resigned 11 April 2024

A R Hill - resigned 11 April 2024

A J Nash - resigned 11 April 2024

Ms J Saunders - resigned 11 April 2024

K Tkacz - appointed 11 April 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 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.

AUDITORS

CLA Evelyn Partners Ltd resigned as auditors during the year. The auditors, Knights Lowe Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Grundy - Director

30 September 2025

Opinion

We have audited the financial statements of Just Digital Limited (the 'company') for the year ended 31 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 31 December 2024 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the companies operating sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- investigated the rationale behind significant or unusual transactions; and

- specifically tested the used stock valuation including the used stock write-down provision, maintenance contracts, and the buy-back provision. These are areas requiring some level of management judgement and so could be susceptible to management bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC, relevant regulators [Scania for franchise purposes] and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

James Knights (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

30 September 2025

TURNOVER

4

13,769,178

13,747,599

Cost of sales

8,066,495

8,430,296

GROSS PROFIT

5,702,683

5,317,303

Administrative expenses

3,985,541

4,388,132

OPERATING PROFIT

6

1,717,142

929,171

Interest receivable and similar income

62,571

51,599

1,779,713

980,770

Gain/loss on revaluation of assets

-

529,333

1,779,713

1,510,103

Interest payable and similar expenses

7

93,454

177,045

PROFIT BEFORE TAXATION

1,686,259

1,333,058

Tax on profit

8

337,309

243,640

PROFIT FOR THE FINANCIAL YEAR

1,348,950

1,089,418

FIXED ASSETS

Intangible assets

10

315,492

269,621

Tangible assets

11

1,522,003

2,035,406

1,837,495

2,305,027

CURRENT ASSETS

Stocks

12

504,147

564,283

Debtors

13

4,860,280

2,342,943

Cash at bank and in hand

921,113

2,435,194

6,285,540

5,342,420

CREDITORS

Amounts falling due within one year

14

2,141,138

2,267,012

NET CURRENT ASSETS

4,144,402

3,075,408

TOTAL ASSETS LESS CURRENT LIABILITIES

5,981,897

5,380,435

CREDITORS

Amounts falling due after more than one year

15

(978,045

)

(1,511,667

)

PROVISIONS FOR LIABILITIES

18

(749,895

)

(894,286

)

NET ASSETS

4,253,957

2,974,482

CAPITAL AND RESERVES

Called up share capital

19

20,005

20,005

Capital redemption reserve

20,000

20,000

Retained earnings

4,213,952

2,934,477

SHAREHOLDERS' FUNDS

4,253,957

2,974,482

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 Grundy - Director

Called up

Capital

share

Retained

redemption

Other

Total

capital

earnings

reserve

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

20,005

2,613,853

20,000

(768,794

)

1,885,064

Changes in equity

Profit for the year

-

1,089,418

-

-

1,089,418

Other comprehensive income

-

(768,794

)

-

768,794

-

Total comprehensive income

-

320,624

-

768,794

1,089,418

Balance at 31 December 2023

20,005

2,934,477

20,000

-

2,974,482

Changes in equity

Profit for the year

-

1,348,950

-

-

1,348,950

Total comprehensive income

-

1,348,950

-

-

1,348,950

Dividends

-

(69,475

)

-

-

(69,475

)

Balance at 31 December 2024

20,005

4,213,952

20,000

-

4,253,957

1.	STATUTORY INFORMATION

Just Digital 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Revenue is recognised once the goods have been dispatched or awaiting dispatch, or the service has been undertaken. Revenue also includes the value of unfinished customer contracts spanning the year end using the stage of completion method of accounting

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a useful life of four years and amortised on a straight line basis over that period.

Tangible fixed assets

Tangible assets under the cost model are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Leasehold improvements - Over the remaining lease terms

Plant & machinery - 5 years straight line, unless useful life of individual asset is materially different

Fixtures & fittings - 4 years straight line

Promotional material - 4 years on straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of the purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment is recognised immediately in profit or loss.

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.

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.

Rentals paid under operating leases are charges to profit or loss on a straight-line basis over the lease term.

Benefits recieved and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Assets obtained under hire purchase contracts and financed leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

Going concern

Having prepared and considered future cashflow forecasts the directors are confident that the company will continue to trade profitably which will generate operational cash inflows. This combined with the existing cash resources, will be sufficient for the company to meet its liabilities as they fall due into the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Operating leases

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.

Share-Based Payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

(i) Financial assets

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

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

(i) Useful economic lives of tangible assets

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

(ii) Customer contracts

Amounts recoverable on customer contracts, which are included within debtors, are stated at the net value of the work done less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account. Customer contracts represent orders received that have been worked on, but are not completed at the accounting period end. Unfinished orders are valued using the stage of completion method of accounting. Management make an estimate regarding the stage of completion of orders at the accounting period end. The value is calculated by taking 25% of the order value for all orders that have reached the design stage, 50% of the order value for all orders that have reached the proof reading stage, and 75% of the order value for all orders that have reached the print stage.

(iii) Intangible assets

Capitalised software - management make judgment and estimates as to the stage of completion, longevity, and ability to generate future value of capitalised software, which in turn affects the valuation of the intangible assets at the year-end date.

(iv) Provision for Dilapidations

Provision is made for future dilapidation costs which may need to be incurred. These provisions require management’s best estimate of the costs and timing of cashflows along with the discount rate to be used. See note 24 for the provisions balance at year end.

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

£

£

Small format print

2,593,825

2,798,818

Large format print

478,247

494,355

Graphic services

10,651,325

10,398,894

Creative services

45,781

55,532

13,769,178

13,747,599

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

13,763,375

13,738,499

Europe

5,803

9,100

13,769,178

13,747,599

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

5,275,904

5,727,840

Social security costs

465,105

497,122

Other pension costs

187,436

187,906

5,928,445

6,412,868

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

2024

2023

Production, warehouse and logistics

40

42

Design, customer service and sales

118

125

Administration and back office

45

51

203

218

2024

2023

£

£

Directors' remuneration

223,257

478,446

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

Money purchase schemes

4

4

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

156,303

195,252

6.	OPERATING PROFIT

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

2024

2023

£

£

Hire of plant and machinery

267,451

260,131

Other operating leases

397,321

413,585

Depreciation - owned assets

192,910

184,516

Depreciation - assets on hire purchase contracts

397,463

429,681

Profit on disposal of fixed assets

-

(8,000

)

Computer software amortisation

96,747

83,981

Auditors' remuneration

22,760

22,400

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Hire purchase interest

67,397

88,683

Dilapidation provision interest

26,057

49,923

Interest on discounted liabili ties

-

38,439

93,454

177,045

8.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

507,757

357,726

Deferred tax

(170,448

)

(114,086

)

Tax on profit

337,309

243,640

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

1,686,259

1,333,058

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

421,565

313,549

Effects of:

Expenses not deductible for tax purposes

28,562

53,649

Income not taxable for tax purposes

-

(124,509

)

Depreciation in excess of capital allowances

122,945

7,703

Deferred tax

(170,448

)

(6,752

)

Charitable donations

(95

)

-

EMI shares

(65,220

)

-

Total tax charge

337,309

243,640

9.

DIVIDENDS

2024

2023

£

£

Ordinary shares of 1p each

Interim

69,475

-

10.	INTANGIBLE FIXED ASSETS

Development

Computer

costs

software

Totals

£

£

£

COST

At 1 January 2024

-

457,394

457,394

Additions

119,213

23,405

142,618

At 31 December 2024

119,213

480,799

600,012

AMORTISATION

At 1 January 2024

-

187,773

187,773

Amortisation for year

-

96,747

96,747

At 31 December 2024

-

284,520

284,520

NET BOOK VALUE

At 31 December 2024

119,213

196,279

315,492

At 31 December 2023

-

269,621

269,621