REGISTERED NUMBER: 05476358 (England and Wales)

COTSWOLD DOORS LTD

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST SEPTEMBER 2024 TO 30TH APRIL 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

6

Statement of Income and Retained Earnings

7

Statement of Financial Position

8

Statement of Cash Flows

9

Notes to the Statement of Cash Flows

10

Notes to the Financial Statements

11

to

19

DIRECTORS:

Mr S P D Campbell

Mr D N Campbell

Mrs N McDermott

SECRETARY:

Mr S P D Campbell

REGISTERED OFFICE:

Unit 1 Whelford Industrial Estate

Whelford Road

FAIRFORD

Gloucestershire

GL7 4DT

REGISTERED NUMBER:

05476358 (England and Wales)

AUDITORS:

Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Lloyds Bank Plc

Bailey Drive

Gillingham Business Park

Gillingham

Kent

ME8 0LS

The directors present their strategic report for the period 1st September 2024 to 30th April 2025.

The principle activity of the company is the manufacture and retails of door sets along with the sale of Ironmongery.

REVIEW OF BUSINESS

Following on from the end of last year, Cotswold Doors Ltd has continued to benefit from the remedial fire door sector where many fire doors are replaced. This has resulted in a higher production of in house produced doors with a higher selling price, resulting in higher margins.

The company has taken a significant step towards optimising operational efficiency to maintain high quality standards.

The company have also been able to maintain cost-effective pricing due to building strong relationships and agreements with suppliers.

PRINCIPAL RISKS AND UNCERTAINTIES

Although the construction industry is a challenging and competitive market. The company's supply of specialised doors creates a favourable sub-sector within the industry and with the increasing market activity, this results in a positive impact on the companies orders.

Inflation has been controlled during the year and expect further improvements in the margin throughout the year. The directors have continued to work with the supply chain to achieve cost-effective pricing through strong relationship agreements.

Customer liquidity is continually monitored as a precaution against bad debts with more proforma accounts and credit insurance.

KEY PERFORMANCE INDICATORS

The directors use the following key performance indicators (KPI's) in reviewing business performance:

Monthly average turnover: 2025 - £0.72m (2024 - £0.71m)

Gross Profit: 2025 - £2.5m (2024 - £3.0m)

Gross profit margin: 2025 - 43.8% (2024 - 34.8%)

Operating Profit/(loss): 2025 - £142k (2024 - (£1.0m))

Debtor days: 2025 - 89 days (2024 - 69 days)

Working capital cycle - net current assets: 2025 - £0.76m (2024 - £0.65m)

FUTURE DEVELOPMENTS

The company has continued to see an improvement in the order book, with a projection of £10 million for the next financial year.

The directors are confident that this projection will result in a busy trading period and therefore have started looking into expanding one of the factory's to ensure they maintain efficient processes and keep to good timely completions.

ON BEHALF OF THE BOARD:

Mr S P D Campbell - Director

8th October 2025

The directors present their report with the financial statements of the company for the period 1st September 2024 to 30th April 2025.

DIVIDENDS

No dividends will be distributed for the period ended 30th April 2025.

DIRECTORS

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

Mr S P D Campbell

Mr D N Campbell

Mrs N McDermott

Other changes in directors holding office are as follows:

Mr J A Wilkinson - resigned 27th September 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr S P D Campbell - Director

8th October 2025

Opinion

We have audited the financial statements of Cotswold Doors Ltd (the 'company') for the period ended 30th April 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the 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 company's affairs as at 30th April 2025 and of its profit 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Emphasis of matter

We draw attention to note two in the financial statements, which describes factors that have been taken into account regarding going concern. Our opinion is not modified in respect of this matter.

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to 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 recognise non-compliance with applicable laws and regulations through the audit planning process;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act, taxation legislation, general data protection regulations (GDPR), employment, and health and safety legislation;

- 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 this susceptibility of the company'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.

As a result of a small management and finance team we identified a risk of fraud through management bias and ability to override of controls, including lack of segregation of duties, which could lead to a misappropriation of cash and other assets. To address this 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;

- investigated the rationale behind significant or unusual transaction; and

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;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HM Revenue & Customs (HMRC) and any legal correspondence.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. 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.

Mr Robert Andrew Beale (Senior Statutory Auditor)

for and on behalf of Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

9th October 2025

TURNOVER

3

5,763,414

8,482,041

Cost of sales

3,236,733

5,528,740

GROSS PROFIT

2,526,681

2,953,301

Administrative expenses

2,370,158

3,923,267

OPERATING PROFIT/(LOSS)

5

156,523

(969,966

)

Interest receivable and similar income

63

1

156,586

(969,965

)

Interest payable and similar expenses

7

14,765

68,712

PROFIT/(LOSS) BEFORE TAXATION

141,821

(1,038,677

)

Tax on profit/(loss)

8

(22,935

)

(34,107

)

PROFIT/(LOSS) FOR THE FINANCIAL PERIOD

164,756

(1,004,570

)

Retained earnings at beginning of period

915,706

1,920,276

RETAINED EARNINGS AT END OF PERIOD

1,080,462

915,706

FIXED ASSETS

Tangible assets

9

559,713

637,849

CURRENT ASSETS

Stocks

10

892,806

834,742

Debtors

11

3,668,868

2,912,666

Cash at bank and in hand

144,281

260,784

4,705,955

4,008,192

CREDITORS

Amounts falling due within one year

12

3,945,368

3,361,216

NET CURRENT ASSETS

760,587

646,976

TOTAL ASSETS LESS CURRENT LIABILITIES

1,320,300

1,284,825

CREDITORS

Amounts falling due after more than one year

13

(141,135

)

(247,481

)

PROVISIONS FOR LIABILITIES

17

(97,703

)

(120,638

)

NET ASSETS

1,081,462

916,706

CAPITAL AND RESERVES

Called up share capital

18

1,000

1,000

Retained earnings

19

1,080,462

915,706

SHAREHOLDERS' FUNDS

1,081,462

916,706

The financial statements were approved by the Board of Directors and authorised for issue on 8th October 2025 and were signed on its behalf by:

Mr S P D Campbell - Director

Cash flows from operating activities

Cash generated from operations

1

33,454

246,442

Interest paid

(8,673

)

(56,255

)

Interest element of hire purchase payments paid

(6,092

)

(12,457

)

Net cash from operating activities

18,689

177,730

Cash flows from investing activities

Purchase of tangible fixed assets

(5,103

)

(112,737

)

Interest received

63

1

Net cash from investing activities

(5,040

)

(112,736

)

Cash flows from financing activities

Loan repayments in year

(63,636

)

(95,455

)

Capital repayments in year

(57,986

)

(104,758

)

Amount withdrawn by directors

(8,530

)

(1,599

)

Net cash from financing activities

(130,152

)

(201,812

)

Decrease in cash and cash equivalents

(116,503

)

(136,818

)

Cash and cash equivalents at beginning of period

2

260,784

397,602

Cash and cash equivalents at end of period

2

144,281

260,784

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Profit/(loss) before taxation

141,821

(1,038,677

)

Depreciation charges

83,239

149,978

Loss on disposal of fixed assets

-

4,349

Finance costs

14,765

68,712

Finance income

(63

)

(1

)

239,762

(815,639

)

(Increase)/decrease in stocks

(58,064

)

561,444

(Increase)/decrease in trade and other debtors

(756,203

)

834,138

Increase/(decrease) in trade and other creditors

607,959

(333,501

)

Cash generated from operations

33,454

246,442

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:

Period ended 30th April 2025

30.4.25

1.9.24

£

£

Cash and cash equivalents

144,281

260,784

Year ended 31st August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

260,784

397,602

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.9.24

Cash flow

At 30.4.25

£

£

£

Net cash

Cash at bank and in hand

260,784

(116,503

)

144,281

260,784

(116,503

)

144,281

Debt

Finance leases

(211,295

)

57,986

(153,309

)

Debts falling due within 1 year

(95,455

)

-

(95,455

)

Debts falling due after 1 year

(121,591

)

63,637

(57,954

)

(428,341

)

121,623

(306,718

)

Total

(167,557

)

5,120

(162,437

)

1.	COMPANY INFORMATION

The company is a private company limited by shares and incorporated in England and Wales.

The registered office address is Unit 1 Whelford Industrial Estate, Whelford Road, Fairford, Gloucestershire, GL7 4DT and the registered number is 05476358.

These financial statements are presented in British Pounds (GBP), which is the company's functional and presentational currency.

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.

Going concern

During the previous financial year, a customer of the company went into liquidation. This customer represented 4% of the total turnover. After careful review of projections and contract enquiries, the directors are confident that the impact of this customers liquidation will not adversely affect the company in the long run. The directors have projected increased business from other existing and new clients that will account for the loss of this customer. The directors are also confident that the stock held for this customer will be used by the company who will take over the development project in the future.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

- Determined whether the leases entered into by the company as lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determined the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determined an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determined an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determined an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

- Determined an appropriate provision for credit notes expected from suppliers in relation to costs already incurred.

Turnover

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

The company recognises turnover when the amount of turnover can be reliably measured and the company has fulfilled its responsibilities under the contract, as amended for retaining stock for customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

Straight line over 15 years

Plant and machinery

-

15 & 20% reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after make due allowance for obsolete and slow moving items. The cost of inventories is measured using the first-in first-out basis.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.

TURNOVER

The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

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

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Sale of goods

5,763,414

8,482,041

5,763,414

8,482,041

4.	EMPLOYEES AND DIRECTORS

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Wages and salaries

1,305,682

2,143,670

Social security costs

137,952

212,449

Other pension costs

23,830

36,323

1,467,464

2,392,442

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

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

Sales and distribution

41

43

Administration

25

27

66

70

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Directors' remuneration

174,796

335,981

Directors' pension contributions to money purchase schemes

991

2,642

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

Money purchase schemes

2

2

5.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Hire of plant and machinery

19,091

26,254

Depreciation - owned assets

48,286

84,443

Depreciation - assets on hire purchase contracts

34,953

65,535

Loss on disposal of fixed assets

-

4,349

Foreign exchange differences

-

91

6.	AUDITORS' REMUNERATION

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

8,979

20,970

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Bank loan interest

8,673

20,113

PAYE interest paid

-

2,852

VAT interest

-

33,290

Hire purchase

6,092

12,457

14,765

68,712

8.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the period was as follows:

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Deferred tax

(22,935

)

(34,107

)

Tax on profit/(loss)

(22,935

)

(34,107

)

Reconciliation of total tax credit included in profit and loss

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

Period

1.9.24

to

Year Ended

30.4.25

31.8.24

£

£

Profit/(loss) before tax

141,821

(1,038,677

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

35,455

(259,669

)

Effects of:

Expenses not deductible for tax purposes

2,570

9,641

Capital allowances in excess of depreciation

(362

)

-

Depreciation in excess of capital allowances

-

144

Utilisation of tax losses

(54,848

)

-

on deferred tax

Unprovided tax losses

(5,750

)

215,777

Total tax credit

(22,935

)

(34,107

)

9.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

Totals

£

£

£

£

COST

At 1st September 2024

32,359

1,633,168

64,298

1,729,825

Additions

-

5,103

-

5,103

At 30th April 2025

32,359

1,638,271

64,298

1,734,928

DEPRECIATION

At 1st September 2024

16,561

1,028,669

46,746

1,091,976

Charge for period

1,438

80,046

1,755

83,239

At 30th April 2025

17,999

1,108,715

48,501

1,175,215

NET BOOK VALUE

At 30th April 2025

14,360

529,556

15,797

559,713

At 31st August 2024

15,798

604,499

17,552

637,849