REGISTERED NUMBER: 15440911 (England and Wales)

Group Strategic Report, Report of the Director and

Consolidated Financial Statements

for the Period 24 January 2024 to 31 December 2024

for

RDCP Electrical 1 Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTOR:

P S Clunn

REGISTERED OFFICE:

Lynton House 7-12 Tavistock Square

London

WC1H 9LT

REGISTERED NUMBER:

15440911 (England and Wales)

AUDITORS:

Derek Young & Co Accountants LLP

Statutory Auditors

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

The director presents his strategic report of the company and the group for the period 24 January 2024 to 31 December 2024.

REVIEW OF BUSINESS

The parent company has not traded as such, but acquired Worcester Electrical Distributors Ltd on 26 June 2024 for £5m. There were no other transactions in that company during the period save for the issue of a single £1 share.

This is a new group, and hence there are no comparative figures. In the period from 26 June 2024 to 31 December 2024, the group achieved a turnover of £10.4m, a gross profit of 26.6% and the trading profit before exceptional items was £280k.

The exceptional item consisted of group refinancing and restructuring costs of £324k and intercompany balance write offs of £351k.

Closing group reserves amounted to (£422k) due to the consolidation adjustments whereby the parent company's £5m investment in the subsidiary was replaced by £1.32m of goodwill.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's operations expose it to a number of financial risks that include credit risk and liquidity risk.

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

Credit risk

The group has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity risk

The group actively manages its working capital requirements to ensure it has sufficient funds for its operations. The requirement for medium to long term debt finance will be reviewed by the board of directors based on the group's forecast requirements.

ON BEHALF OF THE BOARD:

P S Clunn - Director

30 September 2025

The director presents his report with the financial statements of the company and the group for the period 24 January 2024 to 31 December 2024.

INCORPORATION

The group was incorporated on 24 January 2024 and commenced trading on 26 June 2024.

The group passed a special resolution on 24 January 2025 changing its name from RDCP Investments 24 Ltd to RDCP Electrical 1 Ltd.

PRINCIPAL ACTIVITY

The principal activity of the group in the period under review was that of the distribution of specialist electrical equipment to the trade.

DIVIDENDS

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

FUTURE DEVELOPMENTS

Given the challenges presented by the contraction in the construction industry, the directors are expecting to just maintain current turnover levels and margins, while controlling overheads in order to secure the future prospects of the business.

DIRECTORS

I Dubylovska - appointed 14 June 2024

S Rizvi - appointed 24 January 2024

P S Clunn was appointed as a director after 31 December 2024 but prior to the date of this report.

S Rizvi and I Dubylovska ceased to be directors after 31 December 2024 but prior to the date of this report.

The director who is eligible offers himself for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;

-	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.

AUDITORS

The auditors, Derek Young & Co Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P S Clunn - Director

30 September 2025

Opinion

We have audited the financial statements of RDCP Electrical 1 Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other 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 Consolidated Cash Flow Statement, 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 loss for the period 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 Report of the Director, 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 Director 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 Director 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 Director.

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 Statement of Director's Responsibilities set out on page three, 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 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. As required by International Standard on Quality Management 1, the engagement partner is responsible for overseeing that the audit is conducted in accordance with the firm's quality management policies and procedures. The engagement partner's responsibilities include taking appropriate actions where necessary to address any identified deficiencies or deviations from the firm's policies and procedures.

The firm's policies and procedures are designed to ensure that the audit is conducted in accordance with ISAs UK and applicable legal and regulatory requirements, and that reports issued are appropriate in the circumstances.

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:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the group’s and the parent company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

- the results of our enquiries of management about their own identification and assessment of the risks of irregularities

- any matters we identified having obtained and reviewed the group’s and the parent company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the

financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the group and parent company operate in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s and the parent company's ability to operate or to avoid a material penalty.

As a result of performing the above, we identified management override of controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements ;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Stephen Young BSc FCA (Senior Statutory Auditor)

for and on behalf of Derek Young & Co Accountants LLP

Statutory Auditors

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

30 September 2025

TURNOVER

3

10,381,794

Cost of sales

7,618,318

GROSS PROFIT

2,763,476

Distribution costs

243,882

Administrative expenses

2,063,375

2,307,257

OPERATING PROFIT

5

456,219

Write down of intercompany debtor balances & group restructuring costs

6

674,888

(218,669

)

Interest payable and similar expenses

7

176,217

LOSS BEFORE TAXATION

(394,886

)

Tax on loss

8

27,368

LOSS FOR THE FINANCIAL PERIOD

(422,254

)

Loss attributable to:

Owners of the parent

(422,254

)

LOSS FOR THE PERIOD

(422,254

)

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(422,254

)

Total comprehensive income attributable to:

Owners of the parent

(422,254

)

FIXED ASSETS

Intangible assets

10

1,254,291

Tangible assets

11

348,405

Investments

12

-

1,602,696

CURRENT ASSETS

Stocks

13

1,515,552

Debtors

14

3,820,775

Cash at bank and in hand

83,668

5,419,995

CREDITORS

Amounts falling due within one year

15

6,645,663

NET CURRENT LIABILITIES

(1,225,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

377,028

CREDITORS

Amounts falling due after more than one year

16

799,281

NET LIABILITIES

(422,253

)

CAPITAL AND RESERVES

Called up share capital

20

1

Retained earnings

21

(422,254

)

SHAREHOLDERS' FUNDS

(422,253

)

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

P S Clunn - Director

FIXED ASSETS

Intangible assets

10

-

Tangible assets

11

-

Investments

12

5,000,000

5,000,000

CURRENT ASSETS

Debtors

14

1

NET CURRENT ASSETS

1

TOTAL ASSETS LESS CURRENT LIABILITIES

5,000,001

CREDITORS

Amounts falling due after more than one year

16

5,000,000

NET ASSETS

1

CAPITAL AND RESERVES

Called up share capital

20

1

SHAREHOLDERS' FUNDS

1

Company's profit for the financial year

-

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

P S Clunn - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

1

-

1

Total comprehensive income

-

(422,254

)

(422,254

)

Balance at 31 December 2024

1

(422,254

)

(422,253

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

1

-

1

Balance at 31 December 2024

1

-

1

Cash flows from operating activities

Cash generated from operations

1

662,150

Interest paid

(176,217

)

Tax paid

25,767

Net cash from operating activities

511,700

Cash flows from investing activities

Purchase of intangible fixed assets

(1,322,404

)

Purchase of tangible fixed assets

(395,823

)

Sale of tangible fixed assets

13,302

Net cash from investing activities

(1,704,925

)

Cash flows from financing activities

New loans in year

1,500,000

Loan repayments in year

(223,108

)

Share issue

1

Net cash from financing activities

1,276,893

Increase in cash and cash equivalents

83,668

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

83,668

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

£

Loss before taxation

(394,886

)

Depreciation charges

107,088

Profit on disposal of fixed assets

(4,859

)

Finance costs

176,217

(116,440

)

Increase in stocks

(1,515,552

)

Increase in trade and other debtors

(3,820,775

)

Increase in trade and other creditors

6,114,917

Cash generated from operations

662,150

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024

31.12.24

24.1.24

£

£

Cash and cash equivalents

83,668

-

3.	ANALYSIS OF CHANGES IN NET DEBT

At 24.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

-

83,668

83,668

-

83,668

83,668

Debt

Debts falling due within 1 year

-

(477,611

)

(477,611

)

Debts falling due after 1 year

-

(799,281

)

(799,281

)

-

(1,276,892

)

(1,276,892

)

Total

-

(1,193,224

)

(1,193,224

)

1.	STATUTORY INFORMATION

RDCP Electrical 1 Ltd 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.

On 24 January 2025, the company changed its registered name from RDCP Investments 24 Ltd to RDCP Electrical 1 Ltd. The change was registered at Companies House under the Companies Act 2006. This change does not affect the company’s legal status, its rights or obligations, and it continues as the same legal entity as before the change of name.

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.

Basis of consolidation

The group financial statements consolidate the financial statements of RDCP Electrical 1 Ltd and its subsidiary undertaking up to 31 December each year.

Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains control and continue to be consolidated until the date that such control ceases.

Significant judgements and estimates

The financial statements do not contain any significant judgements or estimation uncertainty.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over the term of the lease

Fixtures, fittings & equipment

-

10% - 25% on cost

Motor vehicles

-

25% on cost

Tangible fixed assets are stated at cost less depreciation.

Business combination

On 26 June 2024, RDCP Electrical 1 Ltd, acquired 100% of the issued share capital of Worcester Electrical Distributors Ltd.

The acquisition has been accounted for as a business combination in accordance with FRS 102 Section 19.

The consideration transferred amounted to £5m. The fair value of the net assets acquired was £3.7m, giving rise to goodwill of £1.3m which has been recognised within intangible assets.

Stocks

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

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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.

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.

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the customer, the amount of revenue can be measured reliably, and it is probable that the economic benefits will flow to the company. This is generally the point at which goods are delivered to, or collected by, the customer in accordance with the agreed delivery terms.

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the group's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

£

Sale of goods

10,381,794

10,381,794

4.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

1,275,182

Social security costs

126,288

Other pension costs

102,449

1,503,919

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

Administration

20

Sales

22

Warehouse

26

68

The average number of employees by undertakings that were proportionately consolidated during the period was NIL.

£

Directors' remuneration

116,004

Directors' pension contributions to money purchase schemes

40,015

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

Money purchase schemes

2

5.	OPERATING PROFIT

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

£

Depreciation - owned assets

38,975

Profit on disposal of fixed assets

(4,859

)

Goodwill amortisation

68,113

Auditors' remuneration

6,696

- Other services

4,121

Other leases (property)

109,717

6.	EXCEPTIONAL ITEMS

£

Write down of intercompany debtor balances & group restructuring costs

(674,888

)

The exceptional item mostly relates to group refinancing & restructuring following the former parent company of Worcester Electrical Distributors Limited (WED) going into administration on 3 July 2024. The balance owed to WED by the new parent company is £631,975 less than the balance owed by the former parent company. The appropriate portion of this cost has been included in these consolidated accounts based on time-apportionment. Also included in WED's accounts is £628,314 in connection with group refinancing and restructuring costs which has also been time-apportioned for these consolidated accounts. The remainder of the exceptional item comprises the write off of a balance owed by a company in the wider group that was liquidated during 2024.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Bank interest

4,844

Factoring interest

171,373

176,217

8.

TAXATION

Analysis of the tax charge

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

£

Current tax:

UK corporation tax

27,368

Tax on loss

27,368

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

£

Loss before tax

(394,886

)

Loss multiplied by the standard rate of corporation tax in the UK of 25%

(98,722

)

Effects of:

Expenses not deductible for tax purposes

120,058

Depreciation in excess of capital allowances

8,884

Other short term timing differences

17,028

Group relief

(19,880

)

Total tax charge

27,368

9.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

10.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

Additions

1,322,404

At 31 December 2024

1,322,404

AMORTISATION

Amortisation for period

68,113

At 31 December 2024

68,113

NET BOOK VALUE

At 31 December 2024

1,254,291