Company Registration No. 07778364 (England and Wales)
CONCEPT ELEVATORS (HOLDINGS) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONCEPT ELEVATORS (HOLDINGS) LIMITED
COMPANY INFORMATION
Directors
Mr S Davies
Mr C R Lowe
(Appointed 30 June 2025)
Mr P E Greenwood
(Appointed 30 June 2025)
Mr L E Harvey
(Appointed 30 June 2025)
Mr M G Gleave
(Appointed 30 June 2025)
Mr K Sheehan
(Appointed 30 June 2025)
Company number
07778364
Registered office
Concept House, Norton Canes Business Area
Jerome Road
Norton Canes
Cannock
Staffordshire
WS11 9UE
Auditor
Bache Brown & Co Limited
Swinford House
Albion Street
Brierley Hill
West Midlands
DY5 3EE
CONCEPT ELEVATORS (HOLDINGS) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Income statement
7
Group statement of comprehensive income
8
Group statement of financial position
9
Company statement of financial position
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Company statement of cash flows
14
Notes to the financial statements
15 - 32
CONCEPT ELEVATORS (HOLDINGS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the year ended 31 March 2025.

Review of the business

The Directors are satisfied with the results of the group for the year taking into account the effects of inflation, increased material and labour costs, as well as the increase in corporation tax rates.

The outlook for 2025 is encouraging despite the ongoing current market and economic conditions.

Principal risks and uncertainties

The Directors monitor costs and revenue on a constant basis to protect the financial stability of the group.

The Directors believes that they have taken all necessary and reasonable steps to protect the group. Although the UK is going though a period of significant inflationary increases to costs, the Directors believe they have implemented robust controls to ensure there is minimum risk to the group's performance.

Key performance indicators

The Directors considers that the key financial indicators are turnover, gross profit margin and net profit.

The turnover of the group has increased from £12.66m to £14.37m, an increase of 13.56%. The gross profit for the year was £5.76m giving a margin of 40.09% (2024 - £5.03m giving a margin of 39.77%).

The profit before tax has increased from £1.52m to £1.90m.

On behalf of the board

Mr S Davies
Director
29 September 2025
CONCEPT ELEVATORS (HOLDINGS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the group continued to be that of the installation, maintenance and repair of lift equipment.

The principal activity of the company continued to be that of a holding company.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,098,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr B H R Willats
(Resigned 30 June 2025)
Mr S Davies
Mr C R Lowe
(Appointed 30 June 2025)
Mr P E Greenwood
(Appointed 30 June 2025)
Mr L E Harvey
(Appointed 30 June 2025)
Mr M G Gleave
(Appointed 30 June 2025)
Mr K Sheehan
(Appointed 30 June 2025)
Auditor

The auditor, Bache Brown & Co Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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 group and company, 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;

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

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr S Davies
Director
29 September 2025
CONCEPT ELEVATORS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CONCEPT ELEVATORS (HOLDINGS) LIMITED
- 4 -
Opinion

We have audited the financial statements of Concept Elevators (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 31 March 2025 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CONCEPT ELEVATORS (HOLDINGS) LIMITED
- 5 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 is 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

We assess the risk of material misstatement in respect of fraud by meeting with management to understand where it considered there was susceptibility to fraud.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant reporting frameworks which are likely to affect the company include FRS102, the Companies Act 2006 and the relevant tax laws. In addition we determined that there were no significant laws and regulations which have a direct effect on the amounts and disclosures in the financial statements.

We considered the risk of fraud through management override on controls. We also considered how management bias may impact upon performance targets.

In response we performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of any significant transactions outside the normal course of business, reviewing accounting estimates for management bias.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved enquiries with management around actual and potential claims. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CONCEPT ELEVATORS (HOLDINGS) LIMITED
- 6 -
Ian Richard Baker (Senior Statutory Auditor)
For and on behalf of Bache Brown & Co Limited
29 September 2025
Chartered Certified Accountants
Statutory Auditor
Swinford House
Albion Street
Brierley Hill
West Midlands
DY5 3EE
CONCEPT ELEVATORS (HOLDINGS) LIMITED
GROUP INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
14,371,112
12,655,334
Cost of sales
(8,609,065)
(7,621,751)
Gross profit
5,762,047
5,033,583
Administrative expenses
(3,856,440)
(3,524,066)
Other operating income
660
660
Operating profit
4
1,906,267
1,510,177
Interest receivable and similar income
6
1,582
3,690
Interest payable and similar expenses
7
(20,018)
(32,481)
Amounts written off investments
8
10,906
43,405
Profit before taxation
1,898,737
1,524,791
Tax on profit
9
(514,145)
(420,860)
Profit for the financial year
1,384,592
1,103,931
Profit for the financial year is all attributable to the owners of the parent company.
CONCEPT ELEVATORS (HOLDINGS) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
£
£
Profit for the year
1,384,592
1,103,931
Other comprehensive income
-
-
Total comprehensive income for the year
1,384,592
1,103,931
Total comprehensive income for the year is all attributable to the owners of the parent company.
CONCEPT ELEVATORS (HOLDINGS) LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
11
-
0
140,700
Tangible assets
12
750,363
764,323
750,363
905,023
Current assets
Stocks
16
934,099
906,303
Debtors
17
1,861,902
1,935,406
Investments
18
467,965
457,059
Cash at bank and in hand
2,255,913
2,382,787
5,519,879
5,681,555
Creditors: amounts falling due within one year
19
(2,315,598)
(2,675,905)
Net current assets
3,204,281
3,005,650
Total assets less current liabilities
3,954,644
3,910,673
Creditors: amounts falling due after more than one year
20
(93,929)
(333,008)
Provisions for liabilities
Deferred tax liability
23
23,272
26,814
(23,272)
(26,814)
Net assets
3,837,443
3,550,851
Capital and reserves
Called up share capital
26
200
200
Profit and loss reserves
3,837,243
3,550,651
Total equity
3,837,443
3,550,851

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 29 September 2025 and are signed on its behalf by:
29 September 2025
Mr S Davies
Director
Company registration number 07778364 (England and Wales)
CONCEPT ELEVATORS (HOLDINGS) LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
511,779
511,779
Investments
13
100
100
511,879
511,879
Current assets
Debtors
17
183,360
243
Investments
18
467,965
457,059
Cash at bank and in hand
437,726
906,851
1,089,051
1,364,153
Creditors: amounts falling due within one year
19
(35,062)
(39,723)
Net current assets
1,053,989
1,324,430
Net assets
1,565,868
1,836,309
Capital and reserves
Called up share capital
26
200
200
Profit and loss reserves
1,565,668
1,836,109
Total equity
1,565,868
1,836,309

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £827,559 (2024 - £947,822 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 29 September 2025 and are signed on its behalf by:
29 September 2025
Mr S Davies
Director
Company registration number 07778364 (England and Wales)
CONCEPT ELEVATORS (HOLDINGS) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
200
3,081,870
3,082,070
Year ended 31 March 2024:
Profit and total comprehensive income
-
1,103,931
1,103,931
Dividends
10
-
(635,150)
(635,150)
Balance at 31 March 2024
200
3,550,651
3,550,851
Year ended 31 March 2025:
Profit and total comprehensive income
-
1,384,592
1,384,592
Dividends
10
-
(1,098,000)
(1,098,000)
Balance at 31 March 2025
200
3,837,243
3,837,443
CONCEPT ELEVATORS (HOLDINGS) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
200
1,523,437
1,523,637
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
947,822
947,822
Dividends
10
-
(635,150)
(635,150)
Balance at 31 March 2024
200
1,836,109
1,836,309
Year ended 31 March 2025:
Profit and total comprehensive income
-
827,559
827,559
Dividends
10
-
(1,098,000)
(1,098,000)
Balance at 31 March 2025
200
1,565,668
1,565,868
CONCEPT ELEVATORS (HOLDINGS) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
31
1,958,290
1,842,836
Interest paid
(20,018)
(32,481)
Income taxes paid
(619,677)
(289,110)
Net cash inflow from operating activities
1,318,595
1,521,245
Investing activities
Purchase of tangible fixed assets
(11,173)
(15,093)
Interest received
1,582
3,690
Net cash used in investing activities
(9,591)
(11,403)
Financing activities
Repayment of bank loans
(335,692)
(106,940)
Payment of finance leases obligations
(2,186)
(4,372)
Dividends paid to equity shareholders
(1,098,000)
(635,150)
Net cash used in financing activities
(1,435,878)
(746,462)
Net (decrease)/increase in cash and cash equivalents
(126,874)
763,380
Cash and cash equivalents at beginning of year
2,382,787
1,619,407
Cash and cash equivalents at end of year
2,255,913
2,382,787
CONCEPT ELEVATORS (HOLDINGS) LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
32
(115,745)
5,627
Income taxes paid
(29,020)
(9,808)
Net cash outflow from operating activities
(144,765)
(4,181)
Investing activities
Interest received
14,990
16
Dividends received
758,650
860,500
Net cash generated from investing activities
773,640
860,516
Financing activities
Dividends paid to equity shareholders
(1,098,000)
(635,150)
Net cash used in financing activities
(1,098,000)
(635,150)
Net (decrease)/increase in cash and cash equivalents
(469,125)
221,185
Cash and cash equivalents at beginning of year
906,851
685,666
Cash and cash equivalents at end of year
437,726
906,851
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 15 -
1
Accounting policies
Company information

Concept Elevators (Holdings) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Concept House, Norton Canes Business Area, Jerome Road, Norton Canes, Cannock, Staffordshire, WS11 9UE.

The group consists of Concept Elevators (Holdings) Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Concept Elevators (Holdings) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Leasehold land and buildings
Straight line over 50 years
Plant and equipment
25% reducing balance
Fixtures and fittings
15% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -

Freehold land and buildings is not depreciated as the Directors believe that the residual value will be at least the purchase price.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 19 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 20 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.18
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 21 -
1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods and services
14,371,112
12,655,334
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
14,371,112
12,655,334
2025
2024
£
£
Other revenue
Interest income
1,582
3,690
Grants received
660
660
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
36
(1,101)
Government grants
(660)
(660)
Fees payable to the group's auditor for the audit of the group's financial statements
2,500
2,500
Depreciation of owned tangible fixed assets
25,133
25,083
Depreciation of tangible fixed assets held under finance leases
-
2,270
Amortisation of intangible assets
140,700
140,700
Operating lease charges
522,627
434,527
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Directors and senior management
4
4
2
2
Staff
97
89
-
-
Total
101
93
2
2

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
4,545,952
4,316,678
-
0
-
0
Social security costs
498,316
469,166
-
-
Pension costs
200,997
158,893
-
0
-
0
5,245,265
4,944,737
-
0
-
0
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
1,553
1,593
Other interest income
29
2,097
Total income
1,582
3,690
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Interest receivable and similar income
(Continued)
- 23 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
1,553
1,593
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
6,441
30,702
Other finance costs:
Interest on finance leases and hire purchase contracts
432
864
Other interest
13,145
915
Total finance costs
20,018
32,481
8
Amounts written off investments
2025
2024
£
£
Fair value gains/(losses) on financial instruments
Gain on financial assets held at fair value through profit or loss
10,906
43,405
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
517,687
422,697
Deferred tax
Origination and reversal of timing differences
(3,542)
(1,837)
Total tax charge
514,145
420,860
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Taxation
(Continued)
- 24 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,898,737
1,524,791
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
474,684
381,198
Tax effect of expenses that are not deductible in determining taxable profit
40,006
39,954
Tax effect of income not taxable in determining taxable profit
(165)
(165)
Tax at marginal rate
(380)
(127)
Taxation charge
514,145
420,860
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
1,098,000
635,150
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
1,407,000
Amortisation and impairment
At 1 April 2024
1,266,300
Amortisation charged for the year
140,700
At 31 March 2025
1,407,000
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
140,700
The company had no intangible fixed assets at 31 March 2025 or 31 March 2024.
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 25 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
511,779
168,026
94,625
127,569
24,600
926,599
Additions
-
0
-
0
1,774
9,399
-
0
11,173
At 31 March 2025
511,779
168,026
96,399
136,968
24,600
937,772
Depreciation and impairment
At 1 April 2024
-
0
31,089
52,640
60,758
17,789
162,276
Depreciation charged in the year
-
0
3,361
6,342
13,727
1,703
25,133
At 31 March 2025
-
0
34,450
58,982
74,485
19,492
187,409
Carrying amount
At 31 March 2025
511,779
133,576
37,417
62,483
5,108
750,363
At 31 March 2024
511,779
136,937
41,985
66,811
6,811
764,323
Company
Freehold land and buildings
£
Cost
At 1 April 2024 and 31 March 2025
511,779
Depreciation and impairment
At 1 April 2024 and 31 March 2025
-
0
Carrying amount
At 31 March 2025
511,779
At 31 March 2024
511,779

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Motor vehicles
-
0
6,811
-
0
-
0
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 26 -
13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
100
100
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024 and 31 March 2025
100
Carrying amount
At 31 March 2025
100
At 31 March 2024
100
14
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Concept Elevators (UK) Limited
England & Wales
Ordinary shares
100.00
15
Financial instruments
Group
Company
2025
2024
2025
2024
£
£
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
467,965
457,059
467,965
457,059
16
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
279,375
272,596
-
-
Work in progress
654,724
633,707
-
-
934,099
906,303
-
-
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,691,677
1,783,111
-
0
-
0
Amounts owed by group undertakings
-
-
183,360
243
Prepayments and accrued income
170,225
152,295
-
0
-
0
1,861,902
1,935,406
183,360
243
18
Current asset investments
Group
Company
2025
2024
2025
2024
£
£
£
£
Listed investments
467,965
457,059
467,965
457,059
19
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
21
-
0
107,522
-
0
-
0
Obligations under finance leases
22
-
0
2,186
-
0
-
0
Payments received on account
79,660
139,998
-
0
-
0
Trade creditors
1,117,953
1,258,237
-
0
-
0
Corporation tax payable
320,690
422,680
24,507
28,991
Other taxation and social security
521,299
481,576
-
-
Other creditors
51,881
43,829
55
231
Accruals and deferred income
224,115
219,877
10,500
10,501
2,315,598
2,675,905
35,062
39,723
20
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
21
-
0
228,170
-
0
-
0
Government grants
24
26,235
26,895
-
0
-
0
Other creditors
67,694
77,943
-
0
-
0
93,929
333,008
-
-
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
20
Creditors: amounts falling due after more than one year
(Continued)
- 28 -
Amounts included above which fall due after five years are as follows:
Payable by instalments
-
8,042
-
-
21
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
-
0
335,692
-
0
-
0
Payable within one year
-
0
107,522
-
0
-
0
Payable after one year
-
0
228,170
-
0
-
0

Group

Included in bank loans is a secured loan totalling £NIL (2024 - £52,359), which is secured by a fixed charge over the leasehold property and a floating charge over the assets of the business.

Both the secured and unsecured bank loans were repaid in the year.

22
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
-
0
2,618
-
0
-
0
Less: future finance charges
-
0
(432)
-
0
-
0
-
2,186
-
0
-
0

All finance leases were repaid in the year.

23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
23,272
26,814
The company has no deferred tax assets or liabilities.
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
23
Deferred taxation
(Continued)
- 29 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 April 2024
26,814
-
Credit to profit or loss
(3,542)
-
Liability at 31 March 2025
23,272
-

The deferred tax liability set out above is expected to reverse within future periods and relates to accelerated capital allowances that are expected to mature. £5,250 is expected to mature in the next financial year.

24
Government grants
Group
Company
2025
2024
2025
2024
£
£
£
£
Arising from government grants
26,235
26,895
-
-

Deferred government grants relates to grants received to assist with the acquisition of the leasehold property. This is amortised over 50 years.

25
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
200,997
158,893

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

26
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary A shares of £1 each
100
100
100
100
200
200
200
200
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 30 -
27
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
367,003
408,416
-
-
Between two and five years
317,353
441,961
-
-
684,356
850,377
-
-
28
Events after the reporting date

On 30 June, the group was acquired by Andwis Group Limited

29
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
370,092
278,440
30
Controlling party

The ultimate controlling party is Mr B H R Willats who own 100% of the issued share capital.

CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 31 -
31
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
1,384,592
1,103,931
Adjustments for:
Taxation charged
514,145
420,860
Finance costs
20,018
32,481
Investment income
(1,582)
(3,690)
Amortisation and impairment of intangible assets
140,700
140,700
Depreciation and impairment of tangible fixed assets
25,133
27,353
Other gains and losses
(10,906)
(43,405)
Movements in working capital:
(Increase)/decrease in stocks
(27,796)
4,620
Decrease/(increase) in debtors
73,504
(230,149)
(Decrease)/increase in creditors
(158,858)
390,795
Decrease in deferred income
(660)
(660)
Cash generated from operations
1,958,290
1,842,836
32
Cash (absorbed by)/generated from operations - company
2025
2024
£
£
Profit for the year after tax
827,559
947,822
Adjustments for:
Taxation charged
24,536
29,008
Investment income
(773,640)
(860,516)
Other gains and losses
(10,906)
(43,405)
Movements in working capital:
Increase in debtors
(183,117)
(171)
Decrease in creditors
(177)
(67,111)
Cash (absorbed by)/generated from operations
(115,745)
5,627
33
Analysis of changes in net funds - group
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
2,382,787
(126,874)
2,255,913
Borrowings excluding overdrafts
(335,692)
335,692
-
Obligations under finance leases
(2,186)
2,186
-
2,044,909
211,004
2,255,913
CONCEPT ELEVATORS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 32 -
34
Analysis of changes in net funds - company
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
906,851
(469,125)
437,726
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