REGISTERED NUMBER: 08023858 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Wolf Laundry Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

J A Brown

M Keller

T E Marder

D T Riley

J Billcliffe

REGISTERED OFFICE:

Unit 5b Ashroyds Way

Hoyland

Barnsley

South Yorkshire

S74 9SB

REGISTERED NUMBER:

08023858 (England and Wales)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

LS1 2EE

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

PRINCIPLE ACTIVITIES AND REVIEW OF BUSINESS

The principle activity of the company continued to be that of the sale, rental and maintenance of commercial laundry equipment.

During the year Wolf Laundry integrated with both subsidiaries (Brewer & Bunney Ltd and Pee Gee Ltd) through a hive-up. The integration of subsidiary company (Pee Gee Limited) and fellow group company (Brewer & Bunney Ltd) into the main trading company (Wolf Laundry Ltd) represents a strategic initiative aimed at enhancing the efficiency and growth of the overall Wolf Laundry Group.

PRINCIPLE RISKS AND UNCERTAINTIES

There is a risk that new projects are not secured with new and existing customers due to the competitive market.

The board mitigate this risk by ensuring the company provides unrivalled service levels at competitive price points.

The business will be exposed to operational risks as the business continues to grow organically and through acquisition. This risk is managed by the investment in talent through management.

Due to the nature of operations and finance structure the directors assert that there are no material risks arising from currency risk of liquidity risk. Credit risk is managed by the company investing in the credit control team to ensure that customer invoices are paid to credit terms.

KEY FINANCIAL PERFORMANCE INDICATORS

The board monitors the progress of the company by reference to the following key performance indicators which are shown for the last 3 years:

2024

2023

2022

Turnover

£14,682,783

£12,280,161

£8,488,671

Gross Profit Margin

67%

61%

61%

Operating Profit Margin

10%

4%

7%

The gross and operating margins in any given financial period are impacted by the level of turnover generated from each sector of the business.

NON-FINANCIAL KEY PERFORMANCE INDICATORS

The group monitors a number of non-financial key performance indicators broadly split between the headings of time to fix and cost to serve. Additionally, the group monitors staff utilisation, customer retention, customer satisfaction, Health, Safety, Environment and Quality ('HSEQ') and Environmental, Social and Governance ('ESG') matters.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

Financial risks are managed through accounting controls and accurate management information. Management accounts are produced monthly so management are aware of any problems before they occur.

Price risks are continuously reviewed on a periodic basis to reduce exposure to price increases. Being a direct supplier of Schulthess means costs are reviewed with the manufacturer.

ON BEHALF OF THE BOARD:

J A Brown - Director

30 September 2025

The directors present their 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.

DIRECTORS

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

J A Brown

M Keller

T E Marder

D T Riley

J Billcliffe

MATTERS DISCOVERED IN THE STRATEGIC REPORT

Disclosures with regards to principal activity, review of the business, future developments, principal risks and uncertainties and financial and other key performance indicators are included within the strategic report.

FINANCIAL RISK MANAGEMENT

The Company's operations expose it to a variety of financial risks that include the effects of changes in debt market prices, credit risk, liquidity risk and interest rate risk. The Company has in place a risk management programme that seeks to limit the adverse effects of these risks on the financial performance of the company.

Given the size of the Company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The Company's finance department implements the policies set by the board of directors.

LIQUIDITY RISK

The Company currently has cash balances, which provide sufficient available funds for operations and

planned expansions.

CURRENCY RISK

The Company has foreign currency bank accounts into which it received monies from the customers and makes payments to suppliers. The Company considers that this policy meets its objectives of managing exposure to currency risk.

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

The auditors, S&W Audit (a trading name of S&W Partners Audit Limited), will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

J A Brown - Director

30 September 2025

Opinion

We have audited the financial statements of Wolf Laundry 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 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 other information comprises the information included in the Strategic report, Report of the Directors and Financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Strategic Report, Report of the Directors and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extend other explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 give 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 pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect irregularities. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained a general understanding of the Company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity's policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the Company's industry and regulation.

We understand that the Company complies with the framework through:

- Outsourcing accounts preparation and tax compliance to external experts.

- Subscribing to relevant updates from external experts, and making changes to internal procedures and controls as necessary.

- The Directors' close involvement in the day-to-day running of the business, meaning that any litigation or claims would come to their attention directly.

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the Company's ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the Company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.

- UK Taxation Law

- Specific industry standards

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

- Made enquiries of management regarding compliance with laws and regulations and any known non-compliance in the year

- Reviewed legal expense accounts

- Obtaining written management representations regarding the adequacy of procedures in place.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:

- Manipulation of the financial statements, especially revenue, via fraudulent manual journal entries.

- Incorrect recognition of revenue

The procedures we carried out to gain evidence in the above areas included:

- Testing of manual journal entries, selected based on specific risk assessments applied based on the client processes and controls surrounding manual journals; and

- Testing a sample of revenue transactions to underlying documentation, including ensuring revenue is recognised in the correct period and has occurred

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

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.

Matthew Barton BA (Hons) FCA CTA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

West Yorkshire

LS1 2EE

30 September 2025

TURNOVER

3

14,682,783

12,280,161

Cost of sales

4,924,860

4,758,373

GROSS PROFIT

9,757,923

7,521,788

Distribution costs

490,586

444,766

Administrative expenses

7,811,973

6,699,132

8,302,559

7,143,898

1,455,364

377,890

Other operating income

-

160,750

OPERATING PROFIT

5

1,455,364

538,640

Interest payable and similar expenses

7

48,232

38,955

PROFIT BEFORE TAXATION

1,407,132

499,685

Tax on profit

8

434,359

110,238

PROFIT FOR THE FINANCIAL YEAR

972,773

389,447

FIXED ASSETS

Intangible assets

9

1,273,385

1,427,915

Tangible assets

10

2,683,035

2,905,091

Investments

11

1,000

1,000

3,957,420

4,334,006

CURRENT ASSETS

Stocks

12

3,471,585

3,315,284

Debtors

13

3,473,066

2,359,264

Cash at bank

1,557,637

830,526

8,502,288

6,505,074

CREDITORS

Amounts falling due within one year

14

3,792,254

3,085,861

NET CURRENT ASSETS

4,710,034

3,419,213

TOTAL ASSETS LESS CURRENT LIABILITIES

8,667,454

7,753,219

CREDITORS

Amounts falling due after more than one year

15

(4,966,539

)

(5,034,527

)

PROVISIONS FOR LIABILITIES

19

(585,759

)

(576,309

)

NET ASSETS

3,115,156

2,142,383

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

3,115,056

2,142,283

SHAREHOLDERS' FUNDS

3,115,156

2,142,383

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:

J A Brown - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

1,752,836

1,752,936

Changes in equity

Total comprehensive income

-

389,447

389,447

Balance at 31 December 2023

100

2,142,283

2,142,383

Changes in equity

Total comprehensive income

-

972,773

972,773

Balance at 31 December 2024

100

3,115,056

3,115,156

1.	STATUTORY INFORMATION

Wolf Laundry 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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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.

Critical accounting judgements and key sources of estimation uncertainty

There are not considered to be any critical accounting judgements or key sources of estimation uncertainty in the preparation of these financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and regards of ownership of the goods have passed to the buyer (usually on despatch of goods), the amount of revenue can be measured reliably , it is probable that the economic benefits associated with the transaction will flow to the entity ad the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

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

-

20% Straight Line

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

33% Straight Line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over is estimated selling price less costs to sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

At the end of a machine rental the asset in question is booked back into stock at its net realisable value at the rental end date having been depreciated in accordance with the tangible fixed asset accounting policy throughout the rental period.

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 company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal 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, 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 market rate of interest. Financial assets are classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventres, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

2024

2023

£

£

UK sales

14,575,744

10,728,956

European sales

107,000

1,551,205

14,682,774

12,280.161

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,430,970

3,750,317

Social security costs

478,812

401,066

Other pension costs

110,087

89,994

5,019,869

4,241,377

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

2024

2023

Directors

5

5

Sales, finance, and admin

24

24

Production, service and logistics

66

64

95

93

2024

2023

£

£

Directors' remuneration

238,230

232,514

Company pension contributions to defined contribution schemes

330

4,096

238,561

236,610

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2023: 3)

Remuneration disclosed above include the following amounts paid to the highest paid director:

2024

2023

£

£

Directors' remuneration

79,652

77,497

Company pension contributions to defined contribution schemes

110

1,431

79,762

78,928

5.	OPERATING PROFIT

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

2024

2023

£

£

Hire of plant and machinery

24,068

20,902

Other operating leases

61,218

46,978

Depreciation - owned assets

961,054

746,887

Loss/(profit) on disposal of fixed assets

5,988

(10,332

)

Goodwill amortisation

144,442

144,924

Patents and licences amortisation

482

-

Computer software amortisation

13,766

10,446

Foreign exchange differences

(7,377

)

(24,061

)

6.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,000

12,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

510

759

Hire purchase interest payable

17,601

8,235

Interest payable to group companies

30,121

29,961

48,232

38,955

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

424,909

113,531

Deferred tax

9,450

(3,293

)

Tax on profit

434,359

110,238

Reconciliation of total tax charge included in profit and loss

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

2024

2023

£

£

Profit before tax

1,407,132

499,685

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.500%)

351,783

117,426

Effects of:

Expenses not deductible for tax purposes

40,292

6,844

Capital allowances in excess of depreciation

-

(1,959

)

Change in DT rates

42,284

(12,073

)

Total tax charge

434,359

110,238

9.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

Goodwill

licences

software

Totals

£

£

£

£

COST

At 1 January 2024

1,444,426

4,816

134,043

1,583,285

Additions

-

-

4,160

4,160

At 31 December 2024

1,444,426

4,816

138,203

1,587,445

AMORTISATION

At 1 January 2024

144,924

-

10,446

155,370

Amortisation for year

144,442

482

13,766

158,690

At 31 December 2024

289,366

482

24,212

314,060

NET BOOK VALUE

At 31 December 2024

1,155,060

4,334

113,991

1,273,385

At 31 December 2023

1,299,502

4,816

123,597

1,427,915

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

2,002,403

737,959

909,143

3,649,505

Additions

416,264

41,989

358,129

816,382

Disposals

(100,608

)

-

(70,785

)

(171,393

)

At 31 December 2024

2,318,059

779,948

1,196,487

4,294,494

DEPRECIATION

At 1 January 2024

305,912

179,396

259,106

744,414

Charge for year

534,859

86,616

339,579

961,054

Eliminated on disposal

(47,462

)

-

(46,547

)

(94,009

)

At 31 December 2024

793,309

266,012

552,138

1,611,459

NET BOOK VALUE

At 31 December 2024

1,524,750

513,936

644,349

2,683,035

At 31 December 2023

1,696,491

558,563

650,037

2,905,091

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

and 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

1,000

At 31 December 2023

1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Pee Gee Limited

Registered office: Wolf Laundry Unit 5b, Ashroyds Way, Hoyland, Barnsley, England, S74 9SB

Nature of business: That of repairing equipment

%

Class of shares:

holding

Ordinary A and Ordinary B

100.00

Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.