REGISTERED NUMBER: 13179086 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MILESTONE GROUP INVESTMENTS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

7

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

12

Consolidated Statement of Financial Position

13

Company Statement of Financial Position

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Statement of Cash Flows

17

Notes to the Consolidated Statement of Cash Flows

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

S E Demetriou

S X Ioannou

M E Loizias

REGISTERED OFFICE:

3 Beauchamp Court

10 Victors Way

Chipping Barnet

Barnet

EN5 5TZ

REGISTERED NUMBER:

13179086 (England and Wales)

AUDITORS:

AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

The directors present their strategic report for Milestone Group Investments Limited for the year ended 31 December 2024. The group continues to focus on public sector building and construction, a sector in which it has established a strong market presence.

REVIEW OF BUSINESS

The year 2024 represents a period of significant strategic transition for the Group. Following the decision made in the prior year to discontinue ancillary construction activities, the Group executed a planned wind-down of all associated operations, including its subsidiary, Milestone Regenerations Limited.

The subsidiary's financial results for the period reflect this cessation of activity, reporting a gross loss of £554,798 (2023: £114,645) and an EBITDA of £690,991 (2023: £539,667) and. The Board's approval of the subsidiary's dissolution formally concludes this process.

Despite the complexities and resource allocation required to manage the discontinued operations, the Group's core business, focused on the UK public sector construction pipeline, performed robustly.

Key financial highlights from continuing operations include:

- Turnover: Increased to £25,616,338 (2023: £19,506,536), representing a significant increase in business activity.

- Gross Profit: Rose to £4,975,423 (2023: £3,761,445), demonstrating effective cost management within core projects.

- EBITDA: Achieved £1,352,612 (2023: £1,214,879), indicating strong underlying profitability.

While the net profit margin for continuing operations saw a minor reduction to 3.76% (2023: 4.23%), the completion of the restructuring phase is expected to drive future improvements. With all management and operational resources now concentrated on the core business, the Group is confident in its ability to achieve double-digit growth and enhance its profitability in the fiscal year 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group's activities expose it to a number of principal risks and uncertainties that could have a material impact on its financial performance and position. The Board regularly reviews and assesses these risks, implementing strategies to mitigate their potential effects.

1. Economic and Market Risks

The construction industry is highly sensitive to the broader economic climate. The Group's performance is susceptible to fluctuations in economic growth, inflation, and interest rates.

- Economic Volatility: The UK public sector construction pipeline, which is the Group's core focus, is subject to government spending policies and fiscal changes. A downturn in public spending or shifts in government priorities could lead to project delays or cancellations, impacting the Group's revenue stream.

- Inflation and Supply Chain Disruption: High inflation, particularly in raw materials and labor costs, can erode profit margins on fixed-price contracts. While the Group aims to mitigate this through contract terms and prudent financial management, prolonged inflationary pressures pose a significant risk. Further, the ongoing geopolitical landscape can create supply chain disruptions, affecting the availability and cost of essential materials.

2. Operational Risks

Operational risks are inherent in the construction industry and relate to the day-to-day execution of projects.

- Project Delivery and Contract Management: The risk of project overruns, delays, or disputes can result in financial penalties and reputational damage. The Group manages this risk through robust project management controls, regular client communication, and detailed contract reviews.

- Subcontractor and Supplier Performance: The Group relies on a network of subcontractors and suppliers. Their financial instability, poor performance, or failure to meet deadlines could directly impact the Group's project delivery and financial results. This risk is mitigated through a rigorous due diligence process and ongoing monitoring of key partners.

- Health and Safety: As a construction company, the Group faces significant health and safety risks. Failure to comply with regulations can lead to serious accidents, resulting in fines, legal action, and reputational harm. The Group maintains a strong health and safety culture, with continuous training and strict adherence to all relevant regulations.

3. Regulatory and Compliance Risks

The Group operates in a highly regulated environment, and non-compliance with legal and regulatory requirements poses a substantial risk.

- Regulatory Changes: Changes in legislation, such as building safety regulations, environmental laws, or tax laws (e.g., CIS), can increase compliance costs or require significant operational changes. The Group proactively monitors regulatory developments to ensure timely adaptation.

- Legal and Contractual Compliance: Failure to adhere to the terms of contracts or legal obligations, including employment law and the Bribery Act, could lead to costly litigation and damage to the Group's reputation.

4. Impact of Subsidiary Dissolution

The decision to wind down and dissolve its subsidiary operations, Milestone Regenerations Limited, introduced additional, albeit carefully managed, risks. The Board acknowledged and assessed the potential for economic volatility, regulatory changes, and supply chain disruptions during this process. To mitigate these risks, the Board sought and acted on professional legal and financial advice to ensure that all obligations and liabilities were definitively settled. This diligence was critical in ensuring that no further financial or legal liabilities would arise, allowing the Group to focus on its core, profitable operations.

NON-FINANCIAL INFORMATION

The Board is committed to sustainable business practices that consider the long-term impact of its operations on stakeholders, the environment, and society. This report outlines our approach to key non-financial matters in accordance with FRS 102 reporting requirements.

1. Environmental Responsibility

The Group recognizes its responsibility to manage and mitigate its environmental impact throughout its construction operations. Our approach focuses on three core areas:

- Waste Management: We are committed to minimizing construction waste through effective site planning, recycling, and responsible disposal. Where possible, we source recycled or reclaimed materials to reduce landfill contributions.

- Energy Efficiency: We implement energy-saving measures on-site and in our offices to reduce our carbon footprint. This includes the use of modern, fuel-efficient plant and machinery and optimizing logistics to reduce transport emissions.

- Sustainable Sourcing: We prioritize the procurement of materials from environmentally responsible suppliers who comply with recognized standards and certifications.

2. Employee Welfare

Our employees are our most valuable asset. The Group is dedicated to fostering a safe, healthy, and supportive working environment that promotes professional growth and well-being.

- Health and Safety: We maintain a rigorous health and safety management system that meets all legal requirements and industry best practices. Regular training, site audits, and a proactive approach to risk assessment are fundamental to our operations.

- Training and Development: We invest in our employees' skills through continuous training programs, including accredited professional development courses and on-the-job training. This ensures our workforce is highly skilled and adaptable to new industry technologies and methods.

- Fair Employment: We are committed to equal opportunities and fair employment practices. We foster a diverse and inclusive workplace where all employees are treated with respect and dignity, irrespective of their background.

3. Section 172 Statement

The directors of the Group have a duty under Section 172 of the Companies Act 2006 to act in a way that they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. In fulfilling this duty, the directors consider the following factors:

- Long-Term Consequences: Decisions are made with a view to the long-term sustainability and growth of the business, beyond short-term financial gains.

- Interests of Stakeholders: The interests of key stakeholders, including employees, suppliers, customers, and the communities in which we operate, are integral to our decision-making. We maintain open communication channels to understand their perspectives and needs.

- Business Relationships: We strive to maintain high standards of business conduct and foster strong, collaborative relationships with suppliers and clients. This is critical for building trust and ensuring reliable project delivery.

- Community and Environmental Impact: We consider the impact of our operations on the local community and the environment, as outlined in the sections above. We aim to contribute positively to the areas where we work through local employment and responsible practices.

- Reputation: The Group's reputation for quality, integrity, and reliability is a fundamental asset. The Board is mindful of maintaining this reputation by upholding the highest ethical standards in all its activities.

The directors' decisions, including the strategic refocus on the UK public sector and the wind-down of ancillary operations, were made after a careful consideration of these factors to ensure the long-term success and resilience of the Group.

KEY PERFORMANCE INDICATORS

The board monitors the following KPIs to assess the group's performance:

2024

2023

£

£

Continued

Discontinued

Continued

Discontinued

Turnover

25,616,338

468,144

19,506,536

2,466,941

Gross profit

4,975,423

-554,798

3,761,445

-114,645

EBITDA

1,352,612

-690,991

1,214,879

-539,667

GOING CONCERN AND FUTURE PROSPECTS

The directors have reviewed the group's financial position and believe it remains strong. The decision to wind down Milestone Regenerations Limited, while impacting overall results, does not affect the group's ability to continue as a going concern. The group is well-positioned to pursue further growth, focusing on its core construction activities and leveraging its strong market position.

Looking forward, the group will continue to invest in technology, staff development, and sustainability initiatives to enhance its competitive advantage and support long-term growth.

CONCLUSION

The directors are pleased with the group's performance in 2024, particularly the robust results from continuing operations. The decision to cease operations at Milestone Regenerations Limited reflects a strategic focus on areas that align with the group's core strengths. The board remains confident in the group's ability to achieve its strategic objectives and deliver sustained value to its stakeholders.

ON BEHALF OF THE BOARD:

S X Ioannou - Director

29 September 2025

The directors present their 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 construction and building.

DIVIDENDS

An interim dividend of £878.27 per share was paid on 26 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 263,480 .

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

S E Demetriou

S X Ioannou

M E Loizias

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 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 group's auditors are aware of that information.

AUDITORS

The auditors, AGK Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S X Ioannou - Director

29 September 2025

Opinion

We have audited the financial statements of Milestone Group Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 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 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 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 Group 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 Group 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 Group 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 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 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 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 directors' remuneration specified by law are not made; or

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

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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 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 directors either intend to liquidate the group or the parent 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 recognize non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the group through discussions with directors and other

management, and from our commercial knowledge and experience of the industry;

- 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 group'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, and the group'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.

Alekos Christofi FCCA (Senior Statutory Auditor)

for and on behalf of AGK Partnership Ltd

Chartered Accountants & Statutory Auditors

1 Kings Avenue

London

N21 3NA

29 September 2025

TURNOVER

3

25,616,338

468,144

26,084,482

Cost of sales

(20,640,915

)

(1,022,942

)

(21,663,857

)

GROSS PROFIT/(LOSS)

4,975,423

(554,798

)

4,420,625

Administrative expenses

(3,888,151

)

(136,163

)

(4,024,314

)

OPERATING PROFIT/(LOSS)

5

1,087,272

(690,961

)

396,311

Interest receivable and similar income

12,440

-

12,440

Interest payable and similar expenses

7

(47,505

)

-

(47,505

)

PROFIT/(LOSS) BEFORE TAXATION

1,052,207

(690,961

)

361,246

Tax on profit/(loss)

8

(92,483

)

-

(92,483

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

959,724

(690,961

)

268,763

Profit/(loss) attributable to:

Owners of the parent

268,763

TURNOVER

3

19,506,536

2,466,941

21,973,477

Cost of sales

(15,745,091

)

(2,581,586

)

(18,326,677

)

GROSS PROFIT/(LOSS)

3,761,445

(114,645

)

3,646,800

Administrative expenses

(2,786,986

)

(425,028

)

(3,212,014

)

OPERATING PROFIT/(LOSS)

5

974,459

(539,673

)

434,786

Exceptional -operational setup

6

(6,154

)

-

(6,154

)

968,305

(539,673

)

428,632

Interest receivable and similar income

3,285

6

3,291

Interest payable and similar expenses

7

(26,740

)

-

(26,740

)

PROFIT/(LOSS) BEFORE TAXATION

944,850

(539,667

)

405,183

Tax on profit/(loss)

8

(119,961

)

-

(119,961

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

824,889

(539,667

)

285,222

Profit/(loss) attributable to:

Owners of the parent

290,391

Non-controlling interests

(5,169

)

285,222

PROFIT FOR THE YEAR

268,763

285,222

OTHER COMPREHENSIVE INCOME

Gain/loss on revaluation of intangibles

7,771

-

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

7,771

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

276,534

285,222

Total comprehensive income attributable to:

Owners of the parent

276,534

290,391

Non-controlling interests

-

(5,169

)

276,534

285,222

FIXED ASSETS

Intangible assets

11

20,682

12,911

Tangible assets

12

410,764

521,020

Investments

13

-

-

431,446

533,931

CURRENT ASSETS

Stocks

14

185,030

41,801

Debtors

15

4,487,835

6,829,919

Cash at bank and in hand

2,341,642

1,982,306

7,014,507

8,854,026

CREDITORS

Amounts falling due within one year

16

6,255,076

8,087,818

NET CURRENT ASSETS

759,431

766,208

TOTAL ASSETS LESS CURRENT LIABILITIES

1,190,877

1,300,139

CREDITORS

Amounts falling due after more than one year

17

(98,081

)

(189,799

)

PROVISIONS FOR LIABILITIES

20

(99,658

)

(130,256

)

NET ASSETS

993,138

980,084

CAPITAL AND RESERVES

Called up share capital

21

300

300

Fair value reserve

22

7,771

-

Retained earnings

22

985,067

979,784

SHAREHOLDERS' FUNDS

993,138

980,084

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S X Ioannou - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

1,701

1,501

1,701

1,501

CURRENT ASSETS

Debtors

15

1,537,829

45,220

Cash at bank and in hand

376

5,510

1,538,205

50,730

CREDITORS

Amounts falling due within one year

16

1,451,584

74,355

NET CURRENT ASSETS/(LIABILITIES)

86,621

(23,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

88,322

(22,124

)

CAPITAL AND RESERVES

Called up share capital

21

300

300

Retained earnings

88,022

(22,424

)

SHAREHOLDERS' FUNDS

88,322

(22,124

)

Company's profit/(loss) for the financial year

373,926

(10,782

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S X Ioannou - Director

Called up

Fair

share

Retained

value

capital

earnings

reserve

£

£

£

Balance at 1 January 2023

300

694,562

-

Changes in equity

Total comprehensive income

-

285,222

-

Balance at 31 December 2023

300

979,784

-

Changes in equity

Dividends

-

(263,480

)

-

Total comprehensive income

-

268,763

7,771

Balance at 31 December 2024

300

985,067

7,771

Non-controlling

Total

Total

interests

equity

£

£

£

Balance at 1 January 2023

694,862

5,169

700,031

Changes in equity

Total comprehensive income

285,222

(5,169

)

280,053

Balance at 31 December 2023

980,084

-

980,084

Changes in equity

Dividends

(263,480

)

-

(263,480

)

Total comprehensive income

276,534

-

276,534

Balance at 31 December 2024

993,138

-

993,138

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

300

(11,642

)

(11,342

)

Changes in equity

Total comprehensive income

-

(10,782

)

(10,782

)

Balance at 31 December 2023

300

(22,424

)

(22,124

)

Changes in equity

Dividends

-

(263,480

)

(263,480

)

Total comprehensive income

-

373,926

373,926

Balance at 31 December 2024

300

88,022

88,322

Cash flows from operating activities

Cash generated from operations

1

989,470

954,597

Interest paid

(47,505

)

(26,740

)

Tax paid

(116,566

)

8,303

Net cash from operating activities

825,399

936,160

Cash flows from investing activities

Purchase of tangible fixed assets

(157,598

)

(343,643

)

Sale of tangible fixed assets

14,848

-

Interest received

12,440

3,291

Net cash from investing activities

(130,310

)

(340,352

)

Cash flows from financing activities

Capital repayments in year

(72,273

)

177,706

Purchase of NCI shares

-

5,649

Equity dividends paid

(263,480

)

-

Net cash from financing activities

(335,753

)

183,355

Increase in cash and cash equivalents

359,336

779,163

Cash and cash equivalents at beginning of year

2

1,982,306

1,203,143

Cash and cash equivalents at end of year

2

2,341,642

1,982,306

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

2024

2023

£

£

Profit before taxation

361,246

405,183

Depreciation charges

252,900

241,210

Finance costs

47,505

26,740

Finance income

(12,440

)

(3,291

)

649,211

669,842

Increase in stocks

(143,229

)

(51

)

Decrease/(increase) in trade and other debtors

2,342,191

(1,779,521

)

(Decrease)/increase in trade and other creditors

(1,858,703

)

2,064,327

Cash generated from operations

989,470

954,597

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,341,642

1,982,306

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,982,306

1,203,143

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,982,306

359,336

2,341,642

1,982,306

359,336

2,341,642

Debt

Finance leases

(365,520

)

72,273

(293,247

)

(365,520

)

72,273

(293,247

)

Total

1,616,786

431,609

2,048,395