REGISTERED NUMBER: 03376322 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

GARRARD WINDOWS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Statement of Financial Position

11

Statement of Changes in Equity

12

Statement of Cash Flows

13

Notes to the Statement of Cash Flows

14

Notes to the Financial Statements

16

DIRECTORS:

Mr S Leek

Miss N S Williams

Mrs R Wiffin

Mr A J Webb

SECRETARY:

Miss N S Williams

REGISTERED OFFICE:

260 - 270

Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

BUSINESS ADDRESS:

Units 1 and 2 Harvington Park

Westfield Road

Pitstone

Beds

LU7 9GX

REGISTERED NUMBER:

03376322 (England and Wales)

AUDITORS:

FKCA Limited

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

The directors present their strategic report for the year ended 28 February 2025.

REVIEW OF BUSINESS

Fair review of the business

The key financial highlights are as follows:

2025

2024

2023

2022

Turnover

£29,874,236

£32,230,740

£34,823,790

£35,449,701

Turnover growth/(fall)

(7%)

(7%)

(2%)

(41%)

Gross profit margin

27%

25%

29%

30%

Profit/(loss) before tax

£87,691

(£333,813)

£2,169,116

£2,544,238

Far from the much promised return to growth in the economy, the reality seems to be an economy that is broadly speaking flat-lining, impending vastly increased employment costs (above inflation increases in the minimum wage coupled with huge increases in employers NI), continuing high interest rates, and a general lack of "feel good factor" among both the business community, and the general public. As a result, despite an increase in our customer base, our sales have continued to fall, although probably less than the average for our sector.

Nonetheless, we have managed to stem the losses of the previous year and return a small profit, which should continue, as we are now striving to cut costs (mainly by reducing staff) to maximise gross profits as sales fluctuate.

Future developments

We have a strong net worth, and by concentrating on maintaining profitability we should be in a good position to return to growth (no doubt with fewer competitors in the market) when eventually the economy does start to improve.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's financial instruments comprise bank balances, hire purchase, trade debtors and trade creditors. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments are covered below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of current and short term deposit accounts at varying rates of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Operational risk is managed by a defined structure for managing production and costs which is monitored by the Board on a regular basis.

ON BEHALF OF THE BOARD:

Miss N S Williams - Director

14 October 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture and sale of double glazed windows and doors.

DIVIDENDS

The total distribution of dividends for the period ended 28 February 2025 will be £Nil (2024 - £Nil).

DIRECTORS

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

Mr S Leek

Miss N S Williams

Mrs R Wiffin

Mr A J Webb

DISCLOSURE IN THE STRATEGIC REPORT

Information relating to principal risks and uncertainties the company is facing as well as the future developments of the company has been disclosed in the Strategic Report.

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:

Miss N S Williams - Director

14 October 2025

Opinion

We have audited the financial statements of Garrard Windows Limited (the 'company') for the year ended 28 February 2025 which comprise the Income Statement, Other 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 28 February 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 four, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud 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;

- 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 sector in which the company operates;

- We focused on specific laws and regulations which we considered may have a direct impact material effect on the financial statements, or the operations of the company which included the Companies Act 2006, taxation legislation, employment, environmental 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 and the team remained alert to instances of non-compliance throughout the audit.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

- Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

- Investigated the rationale behind significant or unusual transactions.

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.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

27 October 2025

TURNOVER

3

29,874,236

32,230,740

Cost of sales

21,816,797

24,331,576

GROSS PROFIT

8,057,439

7,899,164

Administrative expenses

8,009,107

8,280,702

48,332

(381,538

)

Other operating income

13,625

54,103

OPERATING PROFIT/(LOSS)

6

61,957

(327,435

)

Interest receivable and similar income

57,383

40,794

119,340

(286,641

)

Interest payable and similar expenses

7

31,649

47,172

PROFIT/(LOSS) BEFORE TAXATION

87,691

(333,813

)

Tax on profit/(loss)

8

20,972

(83,353

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

66,719

(250,460

)

PROFIT/(LOSS) FOR THE YEAR

66,719

(250,460

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

66,719

(250,460

)

FIXED ASSETS

Tangible assets

9

765,253

899,746

CURRENT ASSETS

Stocks

10

3,795,133

4,619,102

Debtors

11

2,457,906

2,743,183

Cash at bank and in hand

4,329,973

3,070,206

10,583,012

10,432,491

CREDITORS

Amounts falling due within one year

12

2,777,761

2,725,085

NET CURRENT ASSETS

7,805,251

7,707,406

TOTAL ASSETS LESS CURRENT LIABILITIES

8,570,504

8,607,152

CREDITORS

Amounts falling due after more than one year

13

(88,630

)

(199,637

)

PROVISIONS FOR LIABILITIES

16

(41,774

)

(34,134

)

NET ASSETS

8,440,100

8,373,381

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

8,440,000

8,373,281

SHAREHOLDERS' FUNDS

8,440,100

8,373,381

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2025 and were signed on its behalf by:

Mr S Leek - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2023

100

8,623,741

8,623,841

Changes in equity

Total comprehensive income

-

(250,460

)

(250,460

)

Balance at 29 February 2024

100

8,373,281

8,373,381

Changes in equity

Total comprehensive income

-

66,719

66,719

Balance at 28 February 2025

100

8,440,000

8,440,100

Cash flows from operating activities

Cash generated from operations

1

1,487,788

211,132

Interest paid

-

(17,118

)

Interest element of hire purchase payments paid

(31,652

)

(30,054

)

Tax paid

-

(254,472

)

Net cash from operating activities

1,456,136

(90,512

)

Cash flows from investing activities

Purchase of tangible fixed assets

(70,387

)

(39,712

)

Sale of tangible fixed assets

17,667

33,567

Interest received

57,383

40,794

Net cash from investing activities

4,663

34,649

Cash flows from financing activities

Capital repayments in year

(201,032

)

(209,464

)

Net cash from financing activities

(201,032

)

(209,464

)

Increase/(decrease) in cash and cash equivalents

1,259,767

(265,327

)

Cash and cash equivalents at beginning of year

2

3,070,206

3,335,533

Cash and cash equivalents at end of year

2

4,329,973

3,070,206

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

2025

2024

£

£

Profit/(loss) before taxation

87,691

(333,813

)

Depreciation charges

246,248

237,093

Loss/(profit) on disposal of fixed assets

8,718

(602

)

Finance costs

31,649

47,172

Finance income

(57,383

)

(40,794

)

316,923

(90,944

)

Decrease in stocks

823,968

548,214

Decrease/(increase) in trade and other debtors

285,277

(368,415

)

Increase in trade and other creditors

61,620

122,277

Cash generated from operations

1,487,788

211,132

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 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

4,329,973

3,070,206

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

3,070,206

3,335,533

3.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 1.3.24

Cash flow

changes

At 28.2.25

£

£

£

£

Net cash

Cash at bank

and in hand

3,070,206

1,259,767

4,329,973

3,070,206

1,259,767

4,329,973

Debt

Finance leases

(383,782

)

201,034

(67,754

)

(250,502

)

(383,782

)

201,034

(67,754

)

(250,502

)

Total

2,686,424

1,460,801

(67,754

)

4,079,471

1.	STATUTORY INFORMATION

Garrard Windows 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.

Going concern

The directors have considered the financial health of the company and are confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.

Significant judgements and estimates

In the application of the company'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.

Turnover

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

Other income

Other income comprises income not arising from the principal activities of the Company and is recognised when it is probable that the economic benefits associated with the transaction will flow to the Company and the amount of the income can be measured reliably.

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.

Improvements to property

-

Over the term of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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 method 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.

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 company 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.

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 company 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 payments, 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.

Derecognition of financial liabilities

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

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:

2025

2024

£

£

Aluminium

8,848,845

11,819,084

PVC

17,935,146

19,462,805

Other

3,090,245

948,851

29,874,236

32,230,740

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

10,815,272

11,895,465

Social security costs

1,007,420

1,092,254

Other pension costs

133,371

118,882

11,956,063

13,106,601

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

2025

2024

Directors

4

4

Factory

188

181

Drivers

16

19

Admin

35

37

243

241

5.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

1,381,000

1,696,116

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

556,000

616,000

6.	OPERATING PROFIT/(LOSS)

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

2025

2024

£

£

Hire of plant and machinery

8,586

9,846

Depreciation - owned assets

123,809

105,461

Depreciation - assets on hire purchase contracts

122,438

131,632

Loss/(profit) on disposal of fixed assets

8,718

(602

)

Auditors' remuneration

10,500

10,650

Auditors' remuneration for non audit work

5,391

7,962

Key management remuneration

Key management includes the directors and members of senior management. The remuneration paid or payable to key management for employee services totalled £1,643,141 (2024: £1,990,904).

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on late payment of

corporation tax

-

17,118

Hire purchase

31,649

30,054

31,649

47,172