REGISTERED NUMBER: 02577303 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PHOENIX SURFACING LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Statement of Financial Position

8

Statement of Changes in Equity

9

Statement of Cash Flows

10

Notes to the Statement of Cash Flows

11

Notes to the Financial Statements

12

DIRECTORS:

Mr J W Atherton-Ham

Mr M L Butler

Mr T K Greasley

Mr J S Haluch

Mr P E Knighton

Mr A S Lauder

Mr T Taylor

SECRETARY:

Ms S Bolton

REGISTERED OFFICE:

12 Henson Close

Telford Way Industrial Estate

Kettering

Northamptonshire

NN16 8PZ

REGISTERED NUMBER:

02577303 (England and Wales)

AUDITORS:

Cube Partners Limited

Chartered Accountants and Registered Auditors

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

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

REVIEW OF BUSINESS

The results for the year and financial position of the company are detailed on the annexed accounts.

Turnover showed a significant 8% increase from the previous year to £25,001,392 (2024: £23,217,753).

The surfacing division have contributed to some of the major infrastructure development projects in Northamptonshire during the period and this increased activity is reflected in the turnover for the year.

The roofing products division maintained a steady result. The economy driven reduction in domestic refurbishments was offset by winning more commercial work.

The traffic management division continues its early stage growth, increasing turnover through an extended customer base.

Gross profit margins reduced slightly to 24% (2024: 26%), reflecting the impact of the competitive landscape.

During the year the business continued to focus on operational improvements, and the use of improved systems, ensuring that we continue to provide the best possible service to our customers.

The net profit before tax of £1,173,626 (2024: £754,115) represented an improved 5% (2024: 3%) return on sales.

PRINCIPAL RISKS AND UNCERTAINTIES

Economic uncertainty and increased costs of employment and borrowing continue to impact our markets, but we have seen some increase in investment in infrastructure.

Given the cashflow strain on some businesses, we continue with increased credit checking and vigilant debt collection procedures.

Our industry has seen a significant increase in the theft of, and damage to, equipment and vehicles. We utilise additional security measures and tracking systems, but the escalation of criminal activity is a concern.

FUTURE DEVELOPMENTS

The company monitors developing technologies, identifying and implementing those which enable us to meet sustainability obligations and continue to work safely and productively. Increasingly, we utilise electric vehicles where appropriate in our fleet.

ON BEHALF OF THE BOARD:

Mr T K Greasley - Director

10 October 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of surfacing subcontractors and the merchanting of bituminous products.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

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

Mr J W Atherton-Ham

Mr M L Butler

Mr T K Greasley

Mr J S Haluch

Mr P E Knighton

Mr A S Lauder

Mr T Taylor

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Cube Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr T K Greasley - Director

10 October 2025

Opinion

We have audited the financial statements of Phoenix Surfacing Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, 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 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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:

We considered the central laws and regulations and identified those of significance to the entity. The significant laws and regulations include waste management, health and safety, employment laws and UK tax laws. We undertook an enquiry of management and those charged with governance to evaluate those of significance and any instances of non-compliance..

Through discussion, and where appropriate, written representations, we obtained an understanding of the entity’s policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud.

Where necessary documentation scrutiny was used to determine the significance of any instances of non-compliance of central laws and regulations or fraud.

We 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.

The audit team remained vigilant throughout the audit for any evidence of non-compliance or fraud.

The risk of management override of controls and understatement of revenue were identified to have the greatest risk of material misstatement from irregularities, including fraud, on the financial statements. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of regularities, sample testing on the posting of journals, reviewing of regulatory correspondence and professional fees, detailed substantive testing on the completeness of income, and reviewing accounting estimates for biases.

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.

Rachel Markus ACA (Senior Statutory Auditor)

for and on behalf of Cube Partners Limited

Chartered Accountants and Registered Auditors

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

13 October 2025

TURNOVER

3

25,001,392

23,217,753

Cost of sales

18,976,485

17,239,596

GROSS PROFIT

6,024,907

5,978,157

Administrative expenses

4,993,754

5,243,513

1,031,153

734,644

Other operating income

138,635

-

OPERATING PROFIT

5

1,169,788

734,644

Interest receivable and similar income

11,860

38,287

1,181,648

772,931

Interest payable and similar expenses

7

8,022

18,816

PROFIT BEFORE TAXATION

1,173,626

754,115

Tax on profit

8

285,797

264,613

PROFIT FOR THE FINANCIAL YEAR

887,829

489,502

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

887,829

489,502

FIXED ASSETS

Tangible assets

10

2,169,438

2,124,296

Investments

11

-

-

2,169,438

2,124,296

CURRENT ASSETS

Stocks

12

277,230

178,042

Debtors

13

4,384,964

4,249,312

Cash at bank and in hand

2,432,912

1,790,778

7,095,106

6,218,132

CREDITORS

Amounts falling due within one year

14

3,710,269

3,678,950

NET CURRENT ASSETS

3,384,837

2,539,182

TOTAL ASSETS LESS CURRENT LIABILITIES

5,554,275

4,663,478

CREDITORS

Amounts falling due after more than one year

15

-

(54,788

)

PROVISIONS FOR LIABILITIES

18

(490,377

)

(432,621

)

NET ASSETS

5,063,898

4,176,069

CAPITAL AND RESERVES

Called up share capital

19

200,000

200,000

Share premium

20

220,000

220,000

Retained earnings

20

4,643,898

3,756,069

SHAREHOLDERS' FUNDS

5,063,898

4,176,069

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2025 and were signed on its behalf by:

Mr T K Greasley - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

200,000

4,066,567

220,000

4,486,567

Changes in equity

Dividends

-

(800,000

)

-

(800,000

)

Total comprehensive income

-

489,502

-

489,502

Balance at 31 March 2024

200,000

3,756,069

220,000

4,176,069

Changes in equity

Total comprehensive income

-

887,829

-

887,829

Balance at 31 March 2025

200,000

4,643,898

220,000

5,063,898

Cash flows from operating activities

Cash generated from operations

1

1,217,028

(368,701

)

Interest element of hire purchase payments paid

(8,022

)

(18,816

)

Tax paid

(194,765

)

(323,876

)

Net cash from operating activities

1,014,241

(711,393

)

Cash flows from investing activities

Purchase of tangible fixed assets

(1,322,192

)

(1,048,646

)

Sale of tangible fixed assets

268,757

109,600

Interest received

11,860

38,287

Net cash from investing activities

(1,041,575

)

(900,759

)

Cash flows from financing activities

Capital repayments in year

(129,522

)

(124,659

)

Change in amounts owed to group company

797,778

1,082,474

Change in amount due from group

1,212

226,807

Equity dividends paid

-

(800,000

)

Net cash from financing activities

669,468

384,622

Increase/(decrease) in cash and cash equivalents

642,134

(1,227,530

)

Cash and cash equivalents at beginning of year

2

1,790,778

3,018,308

Cash and cash equivalents at end of year

2

2,432,912

1,790,778

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

2025

2024

£

£

Profit before taxation

1,173,626

754,115

Depreciation charges

1,062,159

952,931

Profit on disposal of fixed assets

(53,866

)

(79,609

)

Finance costs

8,022

18,816

Finance income

(11,860

)

(38,287

)

2,178,081

1,607,966

(Increase)/decrease in stocks

(99,188

)

22,564

Increase in trade and other debtors

(136,864

)

(1,064,068

)

Decrease in trade and other creditors

(725,001

)

(935,163

)

Cash generated from operations

1,217,028

(368,701

)

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,432,912

1,790,778

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,790,778

3,018,308

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

1,790,778

642,134

2,432,912

1,790,778

642,134

2,432,912

Debt

Finance leases

(181,069

)

129,522

(51,547

)

(181,069

)

129,522

(51,547

)

Total

1,609,709

771,656

2,381,365

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Phoenix Surfacing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts 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 revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is the total amount receivable by the company for the goods supplied and services provided, excluding VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and benefits of ownership of the product have been transferred by the buyer.

Revenue from services provided is recognised when the company has performed its obligations and in exchange obtained the right to considerations.

In respect of incomplete contracts, and to the extent that a right to consideration arises, the amount of revenue recognised reflects the accrual of the right to this consideration by reference to the value of work performed to date. Revenue not billed to clients is included in debtors and payments received on account in excess of the relevant amount of revenue are included in creditors.

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.

Plant and machinery

-

25% on cost and 20% on cost

Motor vehicles

-

33% on cost and 25% on cost

Office equipment

-

20% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

Investments in subsidiary undertakings

Investments in subsidiary undertakings are stated at cost less any provision for impairment. Cost includes the purchase price and any directly attributable costs of acquisition. The carrying values of investments are reviewed for indicators of impairment at each reporting date. Where there is objective evidence that an investment is impaired, its carrying amount is reduced to its recoverable amount and the impairment loss is recognised in the profit and loss account.

Stocks

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

Work in progress

Work in progress is valued on the basis of direct cost. Provision is made for any foreseeable losses, where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income and under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year 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 year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

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

3.

TURNOVER

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

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

2025

2024

£

£

Rendering of services

25,001,392

23,217,753

25,001,392

23,217,753

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,108,700

3,824,548

Social security costs

356,595

412,842

Other pension costs

219,327

263,758

4,684,622

4,501,148

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

2025

2024

Number of staff

66

60

2025

2024

£

£

Directors' remuneration

710,860

996,346

Directors' pension contributions to money purchase schemes

30,000

134,350

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

280,740

255,551

Pension contributions to money purchase schemes

10,000

104,350

5.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

2,133

961

Other operating leases

65,803

61,026

Depreciation - owned assets

1,015,597

837,556

Depreciation - assets on hire purchase contracts

46,562

115,375

Profit on disposal of fixed assets

(53,866

)

(79,609

)

Auditors' remuneration

15,000

16,000

Accountancy and taxation fees

2,472

7,168

Foreign exchange differences

-

952

6.	EXCEPTIONAL ITEMS

During the prior year, exceptional expenditure of £466,191 was incurred on professional and settlement fees in relation to the sale of the company. £357,121 of these costs were posted to remuneration costs.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase

8,022

18,816

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

228,041

219,745

Deferred tax

57,756

44,868

Tax on profit

285,797

264,613

UK corporation tax was charged at 25%) in 2024.

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

1,173,626

754,115

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

293,407

188,529

Effects of:

Expenses not deductible for tax purposes

(9,954

)

74,954

Depreciation in excess of capital allowances

2,534

1,320

Structures and building allowance

(190

)

(190

)

Total tax charge

285,797

264,613

9.

DIVIDENDS

2025

2024

£

£

Ordinary shares of 1 each

Interim

-

800,000

10.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

2,268,237

2,653,892

114,238

5,036,367

Additions

786,166

529,618

6,408

1,322,192

Disposals

(533,880

)

(385,033

)

-

(918,913

)

At 31 March 2025

2,520,523

2,798,477

120,646

5,439,646

DEPRECIATION

At 1 April 2024

1,352,327

1,473,692

86,052

2,912,071

Charge for year

503,448

545,480

13,231

1,062,159

Eliminated on disposal

(417,168

)

(286,854

)

-

(704,022

)

At 31 March 2025

1,438,607

1,732,318

99,283

3,270,208

NET BOOK VALUE

At 31 March 2025

1,081,916

1,066,159

21,363

2,169,438

At 31 March 2024

915,910

1,180,200

28,186

2,124,296

The net book value of tangible fixed assets includes £12,614 (2024: £169,801) in respect of assets held under hire purchase contracts.