REGISTERED NUMBER: 11728231 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FORTIS VISION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

Directors:

N Todd

D Borthwick

Registered office:

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

Registered number:

11728231 (England and Wales)

Senior statutory auditor:

Steven Collins

Auditors:

Baverstocks Limited

Statutory Auditor

Chartered Certified Accountants

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

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

Review of business

During 2024 Fortis Vision continued the positive sales trajectory achieved in recent years, delivering another year of strong results. A key strategic focus has been on consolidation, investment in staff operating systems, building for the future and controlled growth going into 2025 and beyond. As a result, significant investment in the overhead and employment costs are shown, providing a foundation for alignment and strategic positioning for the future and regulatory changes within the construction sector.

Turnover and profitability remained strong and on target. This was supported by a strategic focus on the hotel and leisure sector along with a sustained pipeline of major contracts within Purpose-Built Student Accommodation (PBSA). In addition, significant projects in the Care Home sector have helped reduce concentration risk by bolstering and diversifying revenue streams - a target for the business.

Gross profit margin has remained positive within a challenging period for construction following new legislation and client uncertainty around planned works and statutory approvals. Client delay, remodelling and deferred projects have altered several contracts, and the business has shown its capability and versatility to ensure turnover and gross profit remain strong. Investment in our management teams, professional services offerings, procurement approaches and new regulatory preparation has positioned the business for significant growth in projects governed by The Building Safety Act. This alignment with the regulatory requirements and framework, forms part of the longer-term strategic plan for the business.

The company's continued excellent delivery record has enabled larger contracts to be undertaken, providing a platform for secured turnover throughout the year and into future years. This has facilitated efficiencies in delivery, quality and within supply chain management by providing a basis to reduce the turnover peaks and troughs previously experienced within the PBSA sector.

Fortis Vision's drive for efficiency and future planning has seen a large focus on investment into management positions, developing teams and upgrading operating systems. Significant investment in staff has seen a 58.2% increase in employment costs, with staff numbers increasing from 42 to 59. This ensures the scale and resilience needed for increasingly complex projects and preparing the groundwork for potential strategic initiatives such as a partial management buy-out in 2025. Additional increases in overhead include 35.4% on operating systems and procedures, increased activity costs such as indirect wages and staff development expenses. This supports the longer-term plan to drive for sustained, controlled growth, driven by efficiencies and a broader, aligned offering to clients.

Principal risks and uncertainties

The Directors maintain a robust risk-management framework reviewed at each Board meeting. Key risk areas and mitigating actions include:

1. Competitive Environment, our established "in-occupation" delivery model, ability to manage design works through the regulatory gateways, strong culture, and supply chain partnerships continue to differentiate us.

2. Financial Risk, with significant cash reserves and insured client debt, the Company faces low liquidity or credit risk.

3. Execution Risk, ongoing investment in leadership and project controls ensures consistent quality of delivery on large complex contracts.

4. Supply Chain Concentration, our Procurement Team expanded our approved subcontractor base and appointed an additional buyer to strengthen resilience.

5. People & Retention, employee welfare and development remain central, supporting high retention and attracting top industry personnel.

6. Health & Safety, continuous auditing and the dedicated HSEQ function safeguard compliance and site safety standards.

7. ESG Strategy, attaining our Building a Safer Future, Champion Status sets us out there as a leader in Governance.

Financial position

The Company continues to invest in its fixed plant and machinery, investing over £425,000 in fixed assets within the year.

The Company has continued to seek contracts that allow for the Company's turnover to be more evenly spread over the calendar year. The success of this strategy led to an increase in work in progress and trade debtors at 31 December 2024. Work in progress equates to 11 days trading and Trade debtors amounts to 32 days trading.

Although the Company's net cash position fell from £4.17 million to £2.44 million, the net current assets increased 52% to £2.81 million. The Company's net current asset ratio increased from 126% to 135%.

Overall, the Company's shareholders funds increased by 54% from £2.08 million to £3.21 million. This was the result of the Company's decision to re-invest a greater proportion of the annual profits in the business to continue its growth path without seeking third party funding.

Outlook

The Directors are confident that 2025 will deliver further turnover growth with turnover in the seven months to July 2025 26% ahead of the equivalent period in 2024. A significant amount of the 2025 budgeted turnover is already secured through signed contracts, providing clear visibility of revenue.

Continued sector diversification, strengthened management capability, and a strong balance sheet place Fortis Vision in an excellent position to capitalise on opportunities across PBSA, Hospitality, and the expanding Care Home market.

On behalf of the board:

N Todd - Director

30 September 2025

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

Principal activity

The principal activity of the company in the year under review was that of full service refurbishment contractor.

Dividends

The total distribution of dividends for the year ended 31 December 2024 will be £ 1,691,528 .

Directors

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

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, Baverstocks Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

N Todd - Director

30 September 2025

Opinion

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to assessing the risks of material misstatement due to fraud and noncompliance with laws and regulations was as follows:-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to compliance with the Companies Act 2006, Financial Reporting Standard 102, relevant tax legislation, employment legislation and the legislation affecting companies within the construction industry.

We assessed the risks of material misstatements in respect of fraud and determined that the principal risks were related to posting of journal entries to manipulate the results for the financial year. We made enquiries of management during the audit to determine any instances of fraud, while also discussing the areas of risk in relation to audit as part of our audit team meeting.

Based upon the results of our risk assessment we designed our audit procedures to identify noncompliance with such laws and regulations identified above and also material misstatements in respect of fraud as follows:-

-

We obtained an understanding of the legal and regulatory framework in relation to the entity and how it complies with this framework. This included discussions with management, reviews of legal and professional fees and reviews of compliance with the legislation.

-

We discussed with the management the entity's policies and procedures including systems and controls. Compliance with these was tested via discussion and walkthrough testing of controls.

-

We enquired of management of their policies and procedures in relation to fraud and their knowledge of any actual, suspected, or alleged fraud.

-

We ensured compliance with Pay as You Earn, Construction Industry Scheme and Value Added Tax laws via reviewing returns and correspondence.

-

We discussed with management to ensure continued compliance with employment and construction industry legislation.

-

We considered the risk of fraud through management override, and, in response, we incorporated testing of manual journal entries into our audit approach. This included the testing of journal entries throughout the year as well as year end journals.

-

We agreed the financial statement disclosures to underlying supporting documentation.

-

We enquired of management if there were any potential litigation or claims.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities from fraud are inherently more difficult to detect than those arising from error.

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 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.

Steven Collins (Senior Statutory Auditor)

for and on behalf of Baverstocks Limited

Statutory Auditor

Chartered Certified Accountants

Dickens House

Guithavon Street

Witham

Essex

CM8 1BJ

30 September 2025

Turnover

3

42,878,726

41,287,792

Cost of sales

33,469,575

31,131,879

Gross profit

9,409,151

10,155,913

Administrative expenses

5,363,950

3,435,542

4,045,201

6,720,371

Other operating income

4

11,280

-

Operating profit

6

4,056,481

6,720,371

Associated Company Loan

Write Off

7

-

893,389

4,056,481

5,826,982

Interest receivable and similar income

26,784

33,975

4,083,265

5,860,957

Interest payable and similar expenses

8

125,808

10,451

Profit before taxation

3,957,457

5,850,506

Tax on profit

9

1,140,018

1,635,152

Profit for the financial year

2,817,439

4,215,354

Profit for the year

2,817,439

4,215,354

Other comprehensive income

-

-

Total comprehensive income for the year

2,817,439

4,215,354

Fixed assets

Tangible assets

11

674,683

437,820

Current assets

Stocks

12

1,316,738

301,986

Debtors

13

7,011,219

4,542,327

Cash at bank and in hand

2,439,764

4,169,081

10,767,721

9,013,394

Creditors

Amounts falling due within one year

14

7,956,602

7,170,132

Net current assets

2,811,119

1,843,262

Total assets less current liabilities

3,485,802

2,281,082

Creditors

Amounts falling due after more than one year

15

(165,099

)

(110,496

)

Provisions for liabilities

18

(111,495

)

(87,289

)

Net assets

3,209,208

2,083,297

Capital and reserves

Called up share capital

19

100

100

Retained earnings

20

3,209,108

2,083,197

Shareholders' funds

3,209,208

2,083,297

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:

N Todd - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

2,067,843

2,067,943

Changes in equity

Dividends

-

(4,200,000

)

(4,200,000

)

Total comprehensive income

-

4,215,354

4,215,354

Balance at 31 December 2023

100

2,083,197

2,083,297

Changes in equity

Dividends

-

(1,691,528

)

(1,691,528

)

Total comprehensive income

-

2,817,439

2,817,439

Balance at 31 December 2024

100

3,209,108

3,209,208

1.	Statutory information

Fortis Vision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no estimates and assumptions that have a significant risk of causing material adjustment in the financial statements.

Turnover

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:-

-

the amount of turnover can be measured reliably;

-

it is probable that the company will receive the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

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.

Motor Vehicles

-

25% on reducing balance

Office Equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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.

Turnover

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

4.	Other operating income

2024

2023

£

£

Sundry Receipts

11,280

-

5.	Employees and directors

2024

2023

£

£

Wages and salaries

3,308,078

2,136,872

Social security costs

372,596

229,800

Other pension costs

333,045

169,648

4,013,719

2,536,320

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

2024

2023

Cost of sales

38

29

Administration

19

11

Directors

2

2

59

42

2024

2023

£

£

Directors' remuneration

49,136

89,821

Directors' pension contributions to money purchase schemes

120,840

40,840

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

Money purchase schemes

1

1

6.	Operating profit

The operating profit is stated after charging:

2024

2023

£

£

Hire of Plant and Machinery

386,973

246,671

Depreciation - owned assets

128,869

98,223

Depreciation - assets on hire purchase contracts

60,992

9,582

Auditors Remuneration

15,000

15,000

7.	Exceptional items

2024

2023

£

£

Associated Company Loan

Write Off

-

(893,389

)

8.

Interest payable and similar expenses

2024

2023

£

£

Bank Loan Interest

490

803

Other Interest Payable

11,383

6,582

HMRC Interest Paid

85,624

-

Penalties and Interest

8,234

-

Hire Purchase Interest

20,077

3,066

125,808

10,451

9.

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

1,115,812

1,623,061

Deferred Taxation

24,206

12,091

Tax on profit

1,140,018

1,635,152

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

3,957,457

5,850,506

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

989,364

1,462,627

Effects of:

Expenses not deductible for tax purposes

155,472

274,677

Utilisation of tax losses

(4,818

)

-

Super deduction capital allowances claimed

-

(61

)

Profits chargeable at historical lower rates

-

(102,091

)

Total tax charge

1,140,018

1,635,152

10.

Dividends

2024

2023

£

£

Ordinary shares of £1.00 each

Interim

1,691,528

4,200,000

11.	Tangible fixed assets

Motor

Office

Vehicles

Equipment

Totals

£

£

£

Cost

At 1 January 2024

575,274

115,718

690,992

Additions

271,283

155,441

426,724

At 31 December 2024

846,557

271,159

1,117,716

Depreciation

At 1 January 2024

198,568

54,604

253,172

Charge for year

132,634

57,227

189,861

At 31 December 2024

331,202

111,831

443,033

Net book value

At 31 December 2024

515,355

159,328

674,683

At 31 December 2023

376,706

61,114

437,820

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

Vehicles

£

Cost

At 1 January 2024

136,383

Additions

181,161

At 31 December 2024

317,544

Depreciation

At 1 January 2024

9,582

Charge for year

60,992

At 31 December 2024

70,574

Net book value

At 31 December 2024

246,970

At 31 December 2023

126,801

12.

Stocks

2024

2023

£

£

Work in Progress

1,316,738

301,986

13.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade Debtors

3,708,896

1,427,840

Amounts owed by group undertakings

1,360,081

2,178,118

Amounts owed by participating interests

412,373

194,643

Other Debtors

350,300

20,000

Directors Current Accounts

4,889

-

Prepayments and Accrued Income

1,174,680

721,726

7,011,219

4,542,327

14.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts (see note 16)

10,354

10,102

Hire purchase contracts (see note 17)

56,042

16,055

Trade Creditors

3,304,446

2,953,253

Corporation Tax

445,812

1,521,490

Social Security and Other

Taxes

831,486

1,068,609

Other Creditors

156,074

146,254

Accruals and Deferred Income

3,152,388

1,454,369

7,956,602

7,170,132

15.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans (see note 16)

6,160

16,514

Hire purchase contracts (see note 17)

158,939

93,982

165,099

110,496

16.

Loans

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank Loans

10,354

10,102

Amounts falling due between one and two years:

Bank Loans

6,160

-

Amounts falling due between two and five years:

Bank Loans

-

16,514