REGISTERED NUMBER: 02827315 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2025

FOR

BAKER & BELLFIELD LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Mrs C L Knight

Mr J C Baker

Mrs L K Baker

Mr P Baker

Mr S Bhushan

SECRETARY:

Mrs C L Knight

REGISTERED OFFICE:

Display House Display House

Hortonwood 7

Telford

Shropshire

TF1 7GP

REGISTERED NUMBER:

02827315 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

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

REVIEW OF BUSINESS

The 2024 and 2025 periods have continued to be a challenging period for the company as reflected in the financial statements. The company has continued to navigate through some tough trading conditions resulting in periods of cashflow constraints. Turnover has shown improvement largely as a result of the efforts over the last year to ensure jobs are delivered in a timely manner. The company was impacted by rising material, and labour, costs on long term projects where no price escalations were contracted, and was also impacted by extended shipping periods for products destined for Europe and North America.

There were gradual improvements throughout 2024 which have continued into 2025 with the financial position steadily improving. In addition, working capital has been supported by the asset based lending facility, providing the necessary head room and flexibility to manage ongoing and upcoming projects.

With its focus on specialised engineered interior product for the Rail and Airport sectors, the company has continued to build on its forward order book, with projects now secured up to and including 2029. The addition of a US manufacturing site has enabled it to broaden its customer portfolio, and it now targets projects for the US railroad market, as well as continuing to support its existing UK and European customers.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit risk

The company's main credit risk is associated with trade debtors. Amounts recorded in the balance sheet are stated net of allowances for doubtful accounts. The company has long standing relationships with significant customers and credit checks are preformed on new customers.

Liquidity risk

At the end of 2024 the company ceased use of an invoice discounting facility that was used to minimise its credit risk from slow paying customers. Where short term funding is required funds are advanced from shareholders including the parent company.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors considers turnover, earnings before interest, tax and depreciation (EBITDA), net movement in cash and room occupancy to be the key financial performance indicators of the group. The results for the year were as follows:

2025

2024

£

£

Turnover

8,256,349

6,821,284

EBITDA

1,161,847

393,311

Net movement in cash

547,796

(66,498)

ON BEHALF OF THE BOARD:

Mrs C L Knight - Director

29th October 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of manufacture of other plastic products

DIVIDENDS

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

RESEARCH AND DEVELOPMENT

The company continues to work alongside customer requirements and develop new products that meet safety regulations and customer design specifications.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will remain competitive. They believe that the company is in a reasonable financial position and that the risks that have been identified are being well managed. With careful focus on appropriate diversification and development of new products, as well as continuing review of the state of the market and the activities of competitors, the directors are confident in the company's ability to maintain and build on this position, albeit with cautious growth expectations.

DIRECTORS

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

Mrs C L Knight

Mr J C Baker

Mrs L K Baker

Mr P Baker

Mr S Bhushan

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 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:

Mrs C L Knight - Director

29th October 2025

Opinion

We have audited the financial statements of Baker & Bellfield Limited (the 'company') for the year ended 31st January 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 31st January 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, as outlined above, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and its likely future developments, including in relation to the legal and regulatory framework applicable and how the entity and is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- reviewing minutes of meetings of those charged with governance;

- assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with laws and regulations; and

- performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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.

Darren Foot FCA (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

29th October 2025

6,821,284

TURNOVER

3

8,256,349

4,242,341

Cost of sales

5,405,904

2,578,943

GROSS PROFIT

2,850,445

2,308,729

Administrative expenses

1,798,274

270,214

OPERATING PROFIT

5

1,052,171

141,749

Interest payable and similar expenses

6

131,422

128,465

PROFIT BEFORE TAXATION

920,749

74,945

Tax on profit

7

8,422

53,520

PROFIT FOR THE FINANCIAL YEAR

912,327

53,520

PROFIT FOR THE YEAR

912,327

-

OTHER COMPREHENSIVE INCOME

-

53,520

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

912,327

Note

Prior year adjustment

8

(213,144

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

699,183

FIXED ASSETS

969,755

Tangible assets

9

1,039,288

CURRENT ASSETS

1,627,920

Stocks

10

1,605,722

4,473,026

Debtors

11

4,627,948

1,390

Cash at bank

549,186

6,102,336

6,782,856

CREDITORS

4,733,705

Amounts falling due within one year

12

2,379,419

1,368,631

NET CURRENT ASSETS

4,403,437

2,338,386

TOTAL ASSETS LESS CURRENT LIABILITIES

5,442,725

CREDITORS

(1,074,769

)

Amounts falling due after more than one year

13

(3,466,812

)

(266,055

)

PROVISIONS FOR LIABILITIES

17

(239,237

)

997,562

NET ASSETS

1,736,676

CAPITAL AND RESERVES

100

Called up share capital

18

100

50

Capital redemption reserve

19

50

997,412

Retained earnings

19

1,736,526

997,562

1,736,676

The financial statements were approved by the Board of Directors and authorised for issue on 29th October 2025 and were signed on its behalf by:

Mrs C L Knight - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st February 2023

100

1,015,224

50

1,015,374

Changes in equity

Total comprehensive income

-

266,664

-

266,664

Capital distribution

-

(71,332

)

-

(71,332

)

Balance at 31st January 2024

100

1,210,556

50

1,210,706

Prior year adjustment

-

(213,144

)

-

(213,144

)

As restated

100

997,412

50

997,562

Changes in equity

Total comprehensive income

-

912,327

-

912,327

Capital distribution

-

(173,213

)

-

(173,213

)

Balance at 31st January 2025

100

1,736,526

50

1,736,676

1.	STATUTORY INFORMATION

Baker & Bellfield 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.

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.

The values shown have been rounded to the nearest whole £1.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated

with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Tangible fixed assets

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

Leasehold improvements - Over life of lease/50 years straight line

Plant and machinery - 10% reducing balance

Fixtures and fittings - 15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads that have been incurred to bring the stock to their present location and condition.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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 balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the 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

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Pension costs and other post-retirement benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contribution have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as reduction in the proceeds of the associated capital instrument.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

31.1.25

31.1.24

as

restated

£

£

United Kingdom

4,578,373

4,548,291

Europe

267,622

196,037

United States of America

3,410,354

2,076,956

8,256,349

6,821,284

4.	EMPLOYEES AND DIRECTORS

31.1.25

31.1.24

as

restated

£

£

Wages and salaries

2,368,832

2,527,039

Social security costs

342,496

264,857

Other pension costs

54,839

44,117

2,766,167

2,836,013

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

31.1.25

31.1.24

as

restated

Employees

75

81

31.1.25

31.1.24

as

restated

£

£

Directors' remuneration

316,616

277,732

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

Money purchase schemes

5

5

Information regarding the highest paid director is as follows:

31.1.25

31.1.24

as

restated

£

£

Emoluments etc

115,000

114,996

5.	OPERATING PROFIT

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

31.1.25

31.1.24

as

restated

£

£

Depreciation - owned assets

103,471

104,263

Loss on disposal of fixed assets

-

16,422

Auditors' remuneration

12,100

11,000

Foreign exchange differences

(23,255

)

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.1.25

31.1.24

as

restated

£

£

Bank interest

4,328

1

Bank loan interest

10,405

37,188

Invoice finance fees

108,013

94,957

Credit card interest

8,365

3,689

Hire purchase

311

5,914

131,422

141,749

7.

TAXATION

Analysis of the tax charge

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

31.1.25

31.1.24

as

restated

£

£

Current tax:

UK corporation tax

-

14,760

Prior period tax adjustment

(14,760

)

-

Total current tax

(14,760

)

14,760

Deferred tax

23,182

60,185

Tax on profit

8,422

74,945

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:

31.1.25

31.1.24

as

restated

£

£

Profit before tax

920,749

128,465

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.030%)

230,187

30,870

Effects of:

Expenses not deductible for tax purposes

10,930

7,212

Capital allowances in excess of depreciation

(21,688

)

-

Depreciation in excess of capital allowances

-

8,771

Utilisation of tax losses

(37,144

)

-

Adjustments to tax charge in respect of previous periods

(14,760

)

-

Enhanced research and development

(86,000

)

(82,556

)

Marginal relief

-

(756

)

Deferred tax movement

23,182

60,185

Affect of prior year adjustment

-

51,219

Group relief

(96,285

)

-

Total tax charge

8,422

74,945

8.	PRIOR YEAR ADJUSTMENT

During the 2025 year credit notes relating to the 2024 year end where raised and considered to be material to adjust. Majority of theses credit notes were raised due to the items no longer being required by the customers.

9.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Totals

property

machinery

Equipment

£

£

£

£

COST

At 1st February 2024

2,764,399

421,778

1,972,599

370,022

Additions

173,004

-

171,914

1,090

At 31st January 2025

2,937,403

421,778

2,144,513

371,112

DEPRECIATION

At 1st February 2024

1,794,644

286,237

1,279,967

228,440

Charge for year

103,471

8,435

75,199

19,837

At 31st January 2025

1,898,115

294,672

1,355,166

248,277

NET BOOK VALUE

At 31st January 2025

1,039,288

127,106

789,347

122,835

At 31st January 2024

969,755

135,541

692,632

141,582