REGISTERED NUMBER: 10843815 (England and Wales)

CS Astra Limited

Group Strategic Report,

Director's Report and

Audited Consolidated Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Group Strategic Report

2

Director's Report

4

Independent Auditors' Report

6

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

Director:

C A Slaughter

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

10843815 (England and Wales)

Auditors:

Cooper Parry Group Limited

Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

The director presents his strategic report of the company and the group for the year ended 31 December 2024.

The director aims to present a balanced and comprehensive review of the development and performance of the group during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.

Review of business

The principal activity of C S Astra Limited is that of a holding company. The group's principal activity is the sale and repair of new and used vehicles, with significant property activities, including property investment, commercial property rental, and property development.

Whilst the 2024 results show a good level of profitability it was another challenging year due to disruption in supply chains affecting the supply of building materials and new and used vehicles. We consider that our key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, these being turnover and gross margin.

2024 £'000

2023 £'000

Turnover

97,305

146,761

Gross profit

9,020

9,438

Operating profit

1,411

4,409

Profit before tax

1,276

4,273

The 2024 results show a full year of trade and group profit before tax is £1,276,419.

Principal risks and uncertainties

The group's operations expose it to a variety of financial risks which include credit risk, liquidity risk and interest rate risk. The group has in place risk management policies which are implemented by the group's finance department. These policies, which are consistent with those from the previous year, seek to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and related finance costs.

Interest rate risk

The group's liquidity position does not place reliance on short term borrowings and hence such perceived risk is considered to be minimal.

Liquidity risk

The group makes efforts to manage the financial risk by the monitoring of cash flow to ensure that the business is able to meet its foreseeable debts as they fall due and to invest any cash assets profitably. A mixture of long-term and short-term debt finance is designed to ensure the group has sufficient funds available for operations and planned expansions.

Credit risk

The group's principal financial assets are stock and trade debtors. The credit risk associated with stock is limited and therefore the principal credit risk arises from its trade debtors.

In order to manage credit risk management set limits for customers based on a combination of payment history and third party credit references. These credit limits are reviewed regularly by management together with the aged debtors and collection history.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.

Section 172(1) statement

The directors are accountable to shareholders for the management, performance and long-term success of the group and we consider they are constantly focused on the key stakeholders who are vital and to a great degree depend on the success of the business. These include:-

Our workforce which remains our greatest asset and of which retention and motivation of is essential. The group always aims therefore to be a reasonable employer in its approach to its employees in key areas including pay, benefits, safety, training, health and well-being.

We aim to create a culture of diversity and inclusion and to ensure that employment and progression within the group is based on equality, aptitude and the ability and willingness to work and not on the basis, of race, individual characteristics, creed or political opinion.

The nature of our business means there is constant focus on working with our suppliers and business partners to ensure the balance is maintained of strong relationships and the need to obtain value for the business.

Being in the maid a retail business the retention and growth of customers is vital to our success and we take great pride in maintaining the excellent reputation for high standards of business conduct that has taken many years to achieve. Great attention is also given to measuring customer satisfaction and taking action as appropriate to ensure that our standards remains high and continue to improve whether measured against our competitors or internal objectives.

On behalf of the board:

C A Slaughter - Director

30 September 2025

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

Principal activity

The principal activity of the group in the year under review was that of a motor trader.

Dividends

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

Director

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

Streamlined energy and carbon reporting

Type

2023 Consumed kwh

2023 Emissions metric tonnes CO2e

2024 Consumed kwh

2024 Emissions metric tonnes CO2e

Gas (Scope 1)

695,981

127.1

507,850

92.7

Electric (Scope 2)

713,269

147.6

697,700

114.4

Transport (Scope 1)

1,197,279

277.11

1,371,224

316.0

Total

2,606,529

551.8

2,576,774

523.1

Intensity Ratio (Turnover)

3.7

5.6

Intensity Ratio (Employees)

3.5

3.2

The methodology used in the calculation of these disclosures was based on the HM Government Environmental Reporting Guidelines 2019 and the Greenhouse Gas Reporting conversion factors of 2024.

Consumption data was extracted from supplier invoices across all sites.

The intensity ratio has been calculated by applying metric tonnes equivalent per £m turnover (tCO2e/£m).

It is important to note that our business moved to an agency style agreement during 2023 which was effective for the whole of 2024 the consequence of which reduced our turnover by approximately one third from £146.7m to £97.3m which impacted significantly on the calculation used for comparison of the intensity ratio.

We have therefore included a further calculation of (tC02e/employee).

Energy efficiency actions taken

We continue to make ongoing improvements to plant and equipment as we refurbish our current sites and seek to improve efficiency and reduce the use of energy and waste wherever possible.

Along with the UK's transition to electric vehicles, of which the Volvo brand which we represent is at the forefront, we continue to invest heavily in improvements to our vehicle charging infrastructure across all our sites and have significantly increased our own use of electric and hybrid vehicles. We completed the installation of solar energy panels at our Eltham location which were operational from February 2024 and also commenced a further installation at our Guildford site towards the end of 2024 which will be active from March 2025. We continue to upgrade showrooms, workshops and office areas with more energy efficient LED lighting.

Director's responsibilities statement

The director is responsible for preparing the Group Strategic Report, the Director's Report 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 the group and of the profit or loss of the group 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

On behalf of the board:

C A Slaughter - Director

30 September 2025

Opinion

We have audited the financial statements of CS Astra Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group 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 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 group's and the parent 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 Group Strategic Report and the Director's Report, but does not include the financial statements and our Auditors' Report 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 Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Director's Report 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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; or

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

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement, 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 group's and the parent 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 group or the parent 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 an Auditors' Report 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:

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

We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of 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 Auditors' Report.

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 an Auditors' Report 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.

Lorraine Clark ACCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

30 September 2025

Turnover

3

97,304,968

146,760,782

Cost of sales

(88,285,036

)

(137,323,214

)

Gross profit

9,019,932

9,437,568

Administrative expenses

(8,252,967

)

(6,369,625

)

766,965

3,067,943

Other operating income

4

644,384

1,341,436

Operating profit

1,411,349

4,409,379

Interest receivable and similar income

127,690

187,832

1,539,039

4,597,211

Interest payable and similar expenses

7

(262,620

)

(323,999

)

Profit before taxation

8

1,276,419

4,273,212

Tax on profit

10

17,527

(510,722

)

Profit for the financial year

1,293,946

3,762,490

Other comprehensive income

-

-

Total comprehensive income for the year

1,293,946

3,762,490

Profit attributable to:

Owners of the parent

1,077,584

3,284,875

Non-controlling interests

216,362

477,615

1,293,946

3,762,490

Total comprehensive income attributable to:

Owners of the parent

1,077,584

3,284,875

Non-controlling interests

216,362

477,615

1,293,946

3,762,490

Fixed assets

Intangible assets

12

(3,354,599

)

(4,653,153

)

Tangible assets

13

16,907,894

13,958,335

Investments

14

239,513

239,513

13,792,808

9,544,695

Current assets

Stocks

15

9,666,707

11,512,525

Debtors

16

8,856,626

9,512,641

Cash at bank and in hand

4,475,849

7,254,354

22,999,182

28,279,520

Creditors

Amounts falling due within one year

17

7,332,543

10,425,624

Net current assets

15,666,639

17,853,896

Total assets less current liabilities

29,459,447

27,398,591

Creditors

Amounts falling due after more than one year

18

(2,523,857

)

(1,817,071

)

Provisions for liabilities

22

(1,792,205

)

(1,732,081

)

Net assets

25,143,385

23,849,439

Capital and reserves

Called up share capital

23

8,656

8,656

Retained earnings

24

22,637,650

21,560,066

Shareholders' funds

22,646,306

21,568,722

Non-controlling interests

25

2,497,079

2,280,717

Total equity

25,143,385

23,849,439

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

C A Slaughter - Director

Fixed assets

Intangible assets

12

-

-

Tangible assets

13

9,096,292

9,294,157

Investments

14

3,497,738

3,357,519

12,594,030

12,651,676

Current assets

Debtors

16

6,721,374

6,318,614

Cash at bank

293,741

1,392,289

7,015,115

7,710,903

Creditors

Amounts falling due within one year

17

13,374,045

12,907,269

Net current liabilities

(6,358,930

)

(5,196,366

)

Total assets less current liabilities

6,235,100

7,455,310

Creditors

Amounts falling due after more than one year

18

(1,062,500

)

-

Provisions for liabilities

22

-

(180,902

)

Net assets

5,172,600

7,274,408

Capital and reserves

Called up share capital

23

8,656

8,656

Retained earnings

24

5,163,944

7,265,752

Shareholders' funds

5,172,600

7,274,408

Company's loss for the financial year

(2,101,808

)

(2,245,799

)

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

C A Slaughter - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 January 2023

8,656

18,275,191

18,283,847

1,803,102

20,086,949

Changes in equity

Total comprehensive income

-

3,284,875

3,284,875

477,615

3,762,490

Balance at 31 December 2023

8,656

21,560,066

21,568,722

2,280,717

23,849,439

Changes in equity

Total comprehensive income

-

1,077,584

1,077,584

216,362

1,293,946

Balance at 31 December 2024

8,656

22,637,650

22,646,306

2,497,079

25,143,385

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

8,656

9,511,551

9,520,207

Changes in equity

Total comprehensive income

-

(2,245,799

)

(2,245,799

)

Balance at 31 December 2023

8,656

7,265,752

7,274,408

Changes in equity

Total comprehensive income

-

(2,101,808

)

(2,101,808

)

Balance at 31 December 2024

8,656

5,163,944

5,172,600

Cash flows from operating activities

Cash generated from operations

30

2,504,600

(1,269,687

)

Interest paid

(262,620

)

(323,999

)

Tax paid

30,003

(560,807

)

Net cash from operating activities

2,271,983

(2,154,493

)

Cash flows from investing activities

Purchase of tangible fixed assets

(3,717,303

)

(3,163,565

)

Sale of tangible fixed assets

-

102,973

Interest received

127,690

187,832

Net cash from investing activities

(3,589,613

)

(2,872,760

)

Cash flows from financing activities

New loans in year

1,250,000

2,350,000

Loan repayments in year

(2,110,875

)

(406,608

)

Amount withdrawn by directors

(600,000

)

(24,472

)

Net cash from financing activities

(1,460,875

)

1,918,920

Decrease in cash and cash equivalents

(2,778,505

)

(3,108,333

)

Cash and cash equivalents at beginning of year

31

7,254,354

10,362,687

Cash and cash equivalents at end of year

31

4,475,849

7,254,354

1.	Statutory information

CS Astra 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 General 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.

The financial statements are prepared in sterling which is the functional currency of the group and rounded to the nearest pound.

Going concern

The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future. The company and group therefore continues to adopt the going concern basis in preparing its financial statements.

Basis of consolidation

The financial statements consolidate the accounts of CS Astra Limited and all of its subsidiary undertakings ('subsidiaries').

Significant judgements and estimates

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in provisions against amounts due to the company. A detailed review of amounts owed to the company are carried out at the year end date. Whilst every attempt is made to ensure that the provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provisions. Slow moving and obsolete stocks are monitored during the year. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remain a risk that the provisions do not match the ultimate unrealised value of stock held.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Sales of motor vehicles and accessories are recognised on the earlier of full payment by, or delivery date to, the customer together with associated manufacturer vehicle bonus income. Any other manufacturer income in relation to achieving targets is recognised on an accrual basis. Servicing revenue is recognised on the completion of the agreed work.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.

Amortisation is provided at the following rates:

Goodwill

-

10% Straight line

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.

Tangible fixed assets

Tangible fixed assets are held at cost less accumulated depreciation and impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property

-

2% on cost

Short leasehold

-

20% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

5-10% on cost

Motor vehicles

-

15-33% on cost

Computer equipment

-

10-25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Pension costs and other post-retirement benefits

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

Basic financial instruments

A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs).

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the group becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the group will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the group's cash management.

Financial liabilities and equity instruments issued by the group are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Investments

(i) Subsidiary undertakings

Investments in subsidiaries are valued at cost less provision for impairment.

(ii) Partnership interest

Partnership interests are held at cost, plus profit shares owing to the company.

3.

Turnover

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

All turnover arose within the United Kingdom.

4.	Other operating income

2024

2023

£

£

Sundry receipts

-

223,200

Finance commission

644,384

968,466

Profit on sale of tangible fixed assets

-

149,770

644,384

1,341,436

5.	Employees and directors

2024

2023

£

£

Wages and salaries

5,882,744

5,472,714

Social security costs

433,888

390,746

Other pension costs

121,634

105,714

6,438,266

5,969,174

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

2024

2023

Sales

60

52

Service and parts

84

84

Administration

22

22

166

158

The average number of employees by undertakings that were proportionately consolidated during the year was 166 (2023 - 158 ) .

6.	Directors' emoluments

2024

2023

£

£

Director's remuneration

173,507

191,550

Director's pension contributions to money purchase schemes

23,664

23,967

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

Money purchase schemes

1

1