REGISTERED NUMBER: 08126863 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Oem Appliances Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Profit and Loss Account

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Mr B Johnson

Mr S Johnson

Mrs H Johnson

REGISTERED OFFICE:

Unit 8

Centenary Park

Coronet Way

Salford

Greater Manchester

M50 1RE

REGISTERED NUMBER:

08126863 (England and Wales)

AUDITORS:

Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

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

REVIEW OF BUSINESS

Business Overview

OEM Appliances Limited specialises in the B2B retail of kitchen appliances, offering a diverse range of products including cooker hoods, ovens, hobs, and sinks. The company emphasizes affordability and quality, catering to trade customers, being other retailers, the construction industry, and the leisure industry.

Going concern

The company is funded by intercompany loans within its parent For Everyone Group Limited. For Everyone Group Limited had a significantly better year in 2024 than in 2023. Despite the negative economic conditions, the group significantly reduced their losses. Work was underway to improve performance in 2024.

OEM Appliances Limited started a programme of improving profitability through implementing operational efficiencies during the financial year and continuing into 2025. At the time of writing the report, this is ongoing, demonstrated by increasing gross profit by 3.95 percentage points.

The group continues to be funded by third party lenders, Close Invoice Finance Ltd (Close), through an invoice financing facility, stock-based lending facility and term loan which grants the company working capital to run its day-to-day operations. This funding arrangement is provided with monthly covenant conditions on debt servicing and cash headroom.

After reviewing the company forecasts and projections up to 31 December 2026, the Directors have a reasonable expectation that the group has adequate resources and support to continue in operational existence for the foreseeable future whilst meeting covenants. The group therefore continues to adopt the going concern basis in preparing its financial statements.

Business Model

Operating primarily as a B2B distributor, OEM Appliances sources products from various manufacturers, including its in-house brand, SIA. The company maintains a streamlined supply chain to ensure timely delivery and competitive pricing. Customer service excellence and a user-friendly online shopping experience are central to its operations.

Principal Risks and Uncertainties

1. Supply Chain Disruptions: Potential delays or shortages from suppliers could impact product availability.

2. Market Competition: Intense competition may affect market share and profit margins.

3. Economic Factors: Economic downturns could reduce consumer spending on non-essential items.

4. Technological Changes: Rapid advancements in technology require continuous adaptation to meet consumer expectations.

Key Performance Indicators (KPIs)

2024

2023

Turnover '000

£22,071

£21,782

Gross profit %

12.19%

8.24%

Future Prospects

OEM Appliances aims to strengthen its market position by expanding its product offerings and enhancing the SIA brand. The company plans to invest in marketing initiatives to increase brand awareness and attract a broader customer base. Additionally, efforts to optimise operational processes are expected to contribute to sustained growth and profitability.

ON BEHALF OF THE BOARD:

Mr S Johnson - Director

24 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.

Mr B Johnson

Mr S Johnson

Mrs H Johnson

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Thompson Wright (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Johnson - Director

24 September 2025

Opinion

We have audited the financial statements of Oem Appliances Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, 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 loss 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 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.

We were not appointed as auditors of OEM Appliances Limited until after 31st December 2022 and thus did not observe the counting of physical stock at the beginning of the prior year. We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31st December 2022 which are stated in the balance sheet at £86,563.

As a result of this matter, we were unable to determine whether any adjustments might have been found necessary in respect of recorded or unrecorded stock, and the elements making up the profit and loss account, statement of changes in equity and statement of cash flows.

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 three, 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.

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

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.

-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 and data protection, anti-bribery, employment, and health and safety legislation as well as regulations relating to the import and distribution of household appliances.

-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; and

-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; and

-investigated the rationale behind significant or unusual transactions.

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; and

-reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, 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.

Richard Thompson BA FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

24 September 2025

TURNOVER

22,070,906

21,782,142

Cost of sales

19,380,723

19,986,895

GROSS PROFIT

2,690,183

1,795,247

Administrative expenses

4,160,432

3,052,576

(1,470,249

)

(1,257,329

)

Other operating income

950,004

950,000

OPERATING LOSS

4

(520,245

)

(307,329

)

Interest payable and similar expenses

5

424,778

215,415

LOSS BEFORE TAXATION

(945,023

)

(522,744

)

Tax on loss

6

-

36,713

LOSS FOR THE FINANCIAL YEAR

(945,023

)

(559,457

)

LOSS FOR THE YEAR

(945,023

)

(559,457

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(945,023

)

(559,457

)

FIXED ASSETS

Intangible assets

8

35,839

2,002

Tangible assets

9

525,707

381,877

561,546

383,879

CURRENT ASSETS

Stocks

10

5,879,070

5,377,483

Debtors

11

13,228,087

10,397,385

Cash at bank and in hand

223,712

37,145

19,330,869

15,812,013

CREDITORS

Amounts falling due within one year

12

19,440,859

14,638,047

NET CURRENT (LIABILITIES)/ASSETS

(109,990

)

1,173,966

TOTAL ASSETS LESS CURRENT LIABILITIES

451,556

1,557,845

CREDITORS

Amounts falling due after more than one year

13

990,111

1,151,377

NET (LIABILITIES)/ASSETS

(538,555

)

406,468

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

(538,655

)

406,368

SHAREHOLDERS' FUNDS

(538,555

)

406,468

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr S Johnson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

1,942,060

1,942,160

Changes in equity

Dividends

-

(976,235

)

(976,235

)

Total comprehensive income

-

(559,457

)

(559,457

)

Balance at 31 December 2023

100

406,368

406,468

Changes in equity

Total comprehensive income

-

(945,023

)

(945,023

)

Balance at 31 December 2024

100

(538,655

)

(538,555

)

1.	STATUTORY INFORMATION

Oem Appliances 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, which assumes that the group will continue its operations for the foreseeable future. This assessment is based on detailed forecasts prepared by management and reviewed by the group’s principal lender. These forecasts demonstrate that the group is expected to maintain sufficient working capital and cash flow to meet its obligations as they fall due over the 12 months from the date of approval of these financial statements, including servicing debt, funding operations, and meeting commitments to employees and suppliers.

The group’s ability to continue as a going concern is dependent on maintaining adequate headroom within its invoice financing facility and the continued support of suppliers. The directors are continuing to address the position, working closely with the group's stakeholders to ensure that this position continues to be maintained.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of financial statements in conformity with generally accepted principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Some of these estimates and judgements are inherently uncertain and subject to change. The impact of any change in accounting estimates is reflected in the period in which the estimate is revised, if the revision only affects the period, or in the period of the revision and future periods if the revision affects both current and future periods. In this period the directors believe that the critical accounting policies where judgements or estimations are necessarily applied are as follows.

Critical judgements in applying the company's accounting policies

There were no critical judgements made in applying the company's accounting policies.

Critical accounting estimates and assumptions

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions 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;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

Turnover

Turnover represents net invoiced sales of goods and marketing services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2012, is being amortised evenly over its estimates useful life of ten years, a period deemed appropriate by the directors.

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.

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

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimates of useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, of economic utilisation of the assets.

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.

Impairment of debtors

Management perform ongoing reviews of the recoverability of debtor balances. An allowance for doubtful debts is maintained for potential credit losses based on management's assessment of the expected collectability of amounts receivable. The allowance for bad debts is reviewed periodically to assess the adequacy of the allowance.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

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

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

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,858,753

1,477,718

Social security costs

221,572

158,124

Other pension costs

58,520

67,867

2,138,845

1,703,709

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

2024

2023

Admin

19

14

Operations

30

20

49

34

2024

2023

£

£

Directors' remuneration

69,260

13,310

Directors' pension contributions to money purchase schemes

330

-

4.	OPERATING LOSS

The operating loss is stated after charging:

2024

2023

£

£

Hire of plant and machinery

40,397

22,576

Other operating leases

439,333

111,693

Depreciation - owned assets

27,741

24,274

Depreciation - assets on hire purchase contracts

137,541

56,346

Loss on disposal of fixed assets

1,413

20,788

Goodwill amortisation

-

32,812

Computer software amortisation

4,003

97

Auditors' remuneration

6,100

9,100

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

355,799

196,497

Hire purchase

68,979

18,918

424,778

215,415

6.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

HMRC settlement agreement

-

75,000

Deferred tax

-

(38,287

)

Tax on loss

-

36,713

7.

DIVIDENDS

2024

2023

£

£

"A" Ordinary shares of £1 each

Interim

-

976,235

8.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 January 2024

750,000

2,099

752,099

Additions

-

37,840

37,840

At 31 December 2024

750,000

39,939

789,939

AMORTISATION

At 1 January 2024

750,000

97

750,097

Amortisation for year

-

4,003

4,003

At 31 December 2024

750,000

4,100

754,100

NET BOOK VALUE

At 31 December 2024

-

35,839

35,839

At 31 December 2023

-

2,002

2,002

9.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

17,057

21,023

18,575

Additions

-

15,472

6,458

Disposals

-

(650

)

-

At 31 December 2024

17,057

35,845

25,033

DEPRECIATION

At 1 January 2024

1,397

15,413

9,005

Charge for year

2,116

3,498

3,500

Eliminated on disposal

-

-

-

At 31 December 2024

3,513

18,911

12,505

NET BOOK VALUE

At 31 December 2024

13,544

16,934

12,528

At 31 December 2023

15,660

5,610

9,570

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

353,076

83,448

493,179

Additions

314,435

15,099

351,464

Disposals

(60,111

)

-

(60,761

)

At 31 December 2024

607,400

98,547

783,882

DEPRECIATION

At 1 January 2024

46,475

39,012

111,302

Charge for year

137,541

18,627

165,282

Eliminated on disposal

(18,409

)

-

(18,409

)

At 31 December 2024

165,607

57,639

258,175

NET BOOK VALUE

At 31 December 2024

441,793

40,908

525,707

At 31 December 2023

306,601

44,436

381,877