REGISTERED NUMBER: 07661510 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

UTILITY SUPPORT SOLUTIONS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

DIRECTOR:

Mr I McDonald

REGISTERED OFFICE:

Penshaw Way

Portobello Industrial Estate

Chester le Street

Co. Durham

DH3 2SA

REGISTERED NUMBER:

07661510 (England and Wales)

AUDITORS:

Momentum Taxation and Accountancy Ltd

-Statutory Auditor

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

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

REVIEW OF BUSINESS

The company provides civils and reinstatement works for the utilities, construction and highway maintenance sectors.

The turnover remained relatively consistent at £10.4m compared to £10.7m in the previous year, a decrease of 2.8%.

Gross profit increased to £2.8m (26% of turnover) from £2.5m (20% of turnover).

Retained earnings increased to £ 4.7m from £3.9m.

Liquidity whilst slightly down on last year remains healthy at 259% (289% in 2023)..

PRINCIPAL RISKS AND UNCERTAINTIES

The director does not consider there to be any immediate risks likely to have a significant impact on the short or long term value of the business.

There are no immediately identifiable market risks to the company. Contracts with key customers are in place and ongoing. The director and management team undertake regular reviews including but not limited to operations, customer feedback, cashflow and labour usage.

Operational risks are those of health, safety and environmental (HSE) performance and the company minimises risks through its robust health and safety management and training systems.

The company is exposed to financial risk in common with all other businesses in the current climate. Increases in interest rates, material and fuel prices could all have a detrimental effect. The company seeks to mitigate these by negotiating suitable agreements with both suppliers and customers. As a result, exposure to price rises are being managed.

The company's key focus is on securing fairly priced contracts, developing the workforce and improving operational efficiency.

KEY PERFORMANCE INDICATORS

The company uses the following key performance indicators to review the financial performance:

2024

2023

Turnover

£10.4m

£10.7m

Gross Profit margin

31.11%

26.29%

Liquidity

259%

289%

DIRECTOR'S STATEMENT OF COMPLIANCE WITH PROMOTING THE SUCCESS OF THE COMPANY

The director of the company must act in accordance with the general duties detailed in section 172 of the UK Companies Act 2006. A director must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole.

Considering the potential consequences that a decision may have on employees, suppliers and other stakeholders is of great importance. Acting with integrity and promoting high standards throughout the business is fundamental to how the company operates.

The director aims to increase the value of the business by maintaining long term relationships and creating opportunities for the employees to fulfil their potential.

ON BEHALF OF THE BOARD:

Mr I McDonald - Director

29 September 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

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

RESEARCH AND DEVELOPMENT

The company undertakes research and development in relation to technical engineering solutions provided and value engineering proposals for their contractors.

FUTURE DEVELOPMENTS

The director and management team are committed to growing the business in a sustainable manner. They continue to invest in plant & machinery and labour to facilitate growth. The focus of the business is on delivering effective and efficient solutions to their customers to maximise profitability.

DIRECTOR

Mr I McDonald held office during the whole of the period from 1 January 2024 to the date of this report.

FINANCIAL INSTRUMENTS

Treasury operations and Financial Instruments

The company manages the liquidity and interest risks associated with the company's activities.

The company has various financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cashflow interest rate risk on floating rate deposits.

Credit risk

Investments of cash surpluses are made through banks approved by the director.

All contractors who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

DONATIONS AND EXPENDITURE

The company charitable donations during the year totalling £29,610

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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

The auditors, Momentum Taxation and Accountancy Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr I McDonald - Director

29 September 2025

Qualified Opinion

We have audited the financial statements of Utility Support Solutions 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, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, 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 qualified opinion

We have audited the financial statements for Utility Support Solutions Limited for the year ended 31 December 2024. In doing so the following matter arose. Included in other debtors is an amount owed by MAM Group a related party, totalling £2,382,790 (2023 - £2,381,581). We have been unable to obtain sufficient appropriate audit evidence to support the recoverability of this debt and so were unable to determine whether any provision for impairment is required.

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, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

Arising solely from the limitation of scope regarding the recoverability of a related party debtor as described in the Basis for qualified opinion section, we have the following matters in relation to which Companies Act 2006 requires us to report to you:

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

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 director's remuneration specified by law are not made.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. We also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements,recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the more remote that the non-compliances (eg with laws and regulations) are from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

Peter Cartwright (Senior Statutory Auditor)

for and on behalf of Momentum Taxation and Accountancy Ltd

-Statutory Auditor

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

30 September 2025

TURNOVER

10,386,395

10,663,859

Cost of sales

7,154,595

7,860,123

GROSS PROFIT

3,231,800

2,803,736

Administrative expenses

2,143,003

2,397,837

1,088,797

405,899

Other operating income

1,417

26,744

OPERATING PROFIT

4

1,090,214

432,643

Interest receivable and similar income

65,520

34,743

1,155,734

467,386

Interest payable and similar expenses

5

90,227

52,761

PROFIT BEFORE TAXATION

1,065,507

414,625

Tax on profit

6

270,526

(372,800

)

PROFIT FOR THE FINANCIAL YEAR

794,981

787,425

PROFIT FOR THE YEAR

794,981

787,425

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

794,981

787,425

FIXED ASSETS

Tangible assets

7

2,213,490

991,113

Investment property

8

300,353

-

2,513,843

991,113

CURRENT ASSETS

Stocks

9

38,469

33,201

Debtors

10

5,129,032

4,871,174

Cash at bank and in hand

1,235,565

892,423

6,403,066

5,796,798

CREDITORS

Amounts falling due within one year

11

2,476,110

2,006,193

NET CURRENT ASSETS

3,926,956

3,790,605

TOTAL ASSETS LESS CURRENT LIABILITIES

6,440,799

4,781,718

CREDITORS

Amounts falling due after more than one year

12

(1,285,606

)

(692,031

)

PROVISIONS FOR LIABILITIES

16

(456,126

)

(185,601

)

NET ASSETS

4,699,067

3,904,086

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

4,698,967

3,903,986

SHAREHOLDERS' FUNDS

4,699,067

3,904,086

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

Mr I McDonald - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

3,116,561

3,116,661

Changes in equity

Total comprehensive income

-

787,425

787,425

Balance at 31 December 2023

100

3,903,986

3,904,086

Changes in equity

Total comprehensive income

-

794,981

794,981

Balance at 31 December 2024

100

4,698,967

4,699,067

Cash flows from operating activities

Cash generated from operations

1

1,265,581

584,951

Interest paid

(708

)

(521

)

Interest element of hire purchase payments paid

(89,519

)

(52,240

)

Tax paid

154,182

150,572

Net cash from operating activities

1,329,536

682,762

Cash flows from investing activities

Purchase of tangible fixed assets

(167,690

)

(56,599

)

Purchase of investment property

(300,353

)

-

Sale of tangible fixed assets

128,700

128,435

Interest received

65,520

34,743

Net cash from investing activities

(273,823

)

106,579

Cash flows from financing activities

Loan repayments in year

(10,000

)

(10,240

)

Capital repayments in year

(712,745

)

(442,398

)

Amount introduced by directors

-

235,739

Amount withdrawn by directors

10,174

(835,739

)

Net cash from financing activities

(712,571

)

(1,052,638

)

Increase/(decrease) in cash and cash equivalents

343,142

(263,297

)

Cash and cash equivalents at beginning of year

2

892,423

1,155,720

Cash and cash equivalents at end of year

2

1,235,565

892,423

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

2024

2023

£

£

Profit before taxation

1,065,507

414,625

Depreciation charges

467,669

336,790

Loss on disposal of fixed assets

13,155

49,474

Finance costs

90,227

52,761

Finance income

(65,520

)

(34,743

)

1,571,038

818,907

(Increase)/decrease in stocks

(5,268

)

3,626

Increase in trade and other debtors

(422,020

)

(2,522

)

Increase/(decrease) in trade and other creditors

121,831

(235,060

)

Cash generated from operations

1,265,581

584,951

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,235,565

892,423

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

892,423

1,155,720

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1/1/24

Cash flow

changes

At 31/12/24

£

£

£

£

Net cash

Cash at bank

and in hand

892,423

343,142

1,235,565

892,423

343,142

1,235,565

Debt

Finance leases

(1,004,680

)

712,745

-

(1,956,145

)

Debts falling due

within 1 year

(10,000

)

-

-

(10,000

)

Debts falling due

after 1 year

(15,000

)

10,000

-

(5,000

)

(1,029,680

)

722,745

-

(1,971,145

)

Total

(137,257

)

1,065,887

-

(735,580

)

1.	STATUTORY INFORMATION

Utility Support Solutions 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.

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.

The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Recoverable value of recognised receivables

The recoverability of trade and other receivables is regularly reviewed in the light of available economic information specific to each receivable and provisions are recognised for balances considered to be irrecoverable.

Estimates included within these financial statements include depreciation and asset impairments (for example provisions against debtors). None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor bear significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 of its financial instruments.

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

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Turnover

Turnover represents revenue recognised by the company in respect of service contracts when the company obtains the right to the consideration and includes amounts received in relation to compensation and settlements from customers.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost and 33% on reducing balance

Investment property

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

Stocks

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

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 of its financial instruments.

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

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all of the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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. Financial liabilities classified as payable within one year are not amortised.

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

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements and the effective interest method is used to apportion those payments.

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.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,134,147

2,308,038

Social security costs

211,360

229,489

Other pension costs

54,525

74,796

2,400,032

2,612,323

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

2024

2023

Admin staff

15

14

Site staff

44

57

Director

1

1

60

72

2024

2023

£

£

Director's remuneration

30,000

30,000