REGISTERED NUMBER: 14183391 (England and Wales)

E G LEWIS GROUP INVESTMENT SERVICES LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

7

Consolidated Other Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

T F Lewis

Mrs S W Lewis

R Perry

Mrs C Scoberg

G Summerhayes

REGISTERED OFFICE:

Tank Farm Road

Llandarcy

Neath

SA10 6EN

REGISTERED NUMBER:

14183391 (England and Wales)

AUDITORS:

Bevan Buckland LLP (Statutory Auditors)

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

The directors present their strategic report of the company and the group for the year ended 31 January 2025.

REVIEW OF BUSINESS

During the financial year, E G Lewis Group Investments Ltd achieved revenue of £7.8 million, driven by strong demand across our core markets. A gross profit margin of 41% was achieved, reflecting efficiency improvements and cost-control measures implemented during the year.

Looking forward, we see significant opportunities in supporting industries transitioning to sustainable practices, such as the hire of energy-efficient equipment and green energy solutions. Additionally, the continued growth in infrastructure projects and construction activity offers strong demand for our services. Our strategy will focus on further expanding our fleet, investing in assets, and exploring new sectors where equipment hire is increasingly essential.

ON BEHALF OF THE BOARD:

T F Lewis - Director

30 October 2025

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

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £40 per share.

The total distribution of dividends for the year ended 31 January 2025 will be £ 4,000 .

DIRECTORS

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

T F Lewis

Mrs S W Lewis

R Perry

Mrs C Scoberg

G Summerhayes

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

T F Lewis - Director

30 October 2025

Opinion

We have audited the financial statements of E G Lewis Group Investment Services Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 January 2025 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of directors

As explained more fully in the 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent 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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

enquiring of management, including obtaining and reviewing supporting documentation, concerning the Company's policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;

-

the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

-

discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas;

-

Assumptions used for valuing work in progress at the year end, and;

-

Potential for deferring income already earned at the year end.

-

obtaining an understanding of the legal and regulatory frameworks that the Company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the Company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

-

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

-

enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-

assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

-

evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also 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.

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.

Alison Vickers (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP (Statutory Auditors)

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

30 October 2025

TURNOVER

3

7,839,233

10,748,475

Cost of sales

4,630,124

6,445,240

GROSS PROFIT

3,209,109

4,303,235

Administrative expenses

1,515,503

1,364,669

1,693,606

2,938,566

Other operating income

2,466

20,421

OPERATING PROFIT

5

1,696,072

2,958,987

Related party loan waiver

6

500,000

-

1,196,072

2,958,987

Interest receivable and similar income

15,290

26,769

1,211,362

2,985,756

Interest payable and similar expenses

7

50,555

85,461

PROFIT BEFORE TAXATION

1,160,807

2,900,295

Tax on profit

8

421,833

993,462

PROFIT FOR THE FINANCIAL YEAR

738,974

1,906,833

Profit attributable to:

Owners of the parent

738,974

1,906,833

PROFIT FOR THE YEAR

738,974

1,906,833

OTHER COMPREHENSIVE INCOME

Increase in FV of Investment Property

-

791,666

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

791,666

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

738,974

2,698,499

Total comprehensive income attributable to:

Owners of the parent

738,974

2,698,499

FIXED ASSETS

Intangible assets

11

273,257

382,560

Tangible assets

12

627,848

601,920

Investments

13

-

-

Investment property

14

3,505,000

3,505,000

4,406,105

4,489,480

CURRENT ASSETS

Stocks

15

4,500

-

Debtors

16

269,300

950,585

Cash at bank

1,868,463

1,722,456

2,142,263

2,673,041

CREDITORS

Amounts falling due within one year

17

1,303,738

2,698,547

NET CURRENT ASSETS/(LIABILITIES)

838,525

(25,506

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,244,630

4,463,974

CREDITORS

Amounts falling due after more than one year

18

(506,516

)

(460,638

)

PROVISIONS FOR LIABILITIES

21

(453,287

)

(453,287

)

ACCRUALS AND DEFERRED INCOME

22

(7,242

)

(7,438

)

NET ASSETS

4,277,585

3,542,611

CAPITAL AND RESERVES

Called up share capital

23

100

100

Revaluation reserve

24

1,752,631

1,752,631

Retained earnings

24

2,524,854

1,789,880

SHAREHOLDERS' FUNDS

4,277,585

3,542,611

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

T F Lewis - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

3,931,600

3,931,600

Investment property

14

-

-

3,931,600

3,931,600

CURRENT ASSETS

Debtors

16

999,900

968,500

Cash at bank

691,606

23,806

1,691,506

992,306

CREDITORS

Amounts falling due within one year

17

678,361

959,945

NET CURRENT ASSETS

1,013,145

32,361

TOTAL ASSETS LESS CURRENT LIABILITIES

4,944,745

3,963,961

CAPITAL AND RESERVES

Called up share capital

23

100

100

Retained earnings

4,944,645

3,963,861

SHAREHOLDERS' FUNDS

4,944,745

3,963,961

Company's profit for the financial year

984,784

3,970,041

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

T F Lewis - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 February 2023

100

(110,953

)

960,965

850,112

Changes in equity

Dividends

-

(6,000

)

-

(6,000

)

Total comprehensive income

-

1,906,833

791,666

2,698,499

Balance at 31 January 2024

100

1,789,880

1,752,631

3,542,611

Changes in equity

Dividends

-

(4,000

)

-

(4,000

)

Total comprehensive income

-

738,974

-

738,974

Balance at 31 January 2025

100

2,524,854

1,752,631

4,277,585

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

100

(180

)

(80

)

Changes in equity

Dividends

-

(6,000

)

(6,000

)

Total comprehensive income

-

3,970,041

3,970,041

Balance at 31 January 2024

100

3,963,861

3,963,961

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

984,784

984,784

Balance at 31 January 2025

100

4,944,645

4,944,745

Cash flows from operating activities

Cash generated from operations

1

1,176,788

2,019,105

Interest paid

(50,555

)

(85,461

)

Tax paid

(702,659

)

(372,686

)

Net cash from operating activities

423,574

1,560,958

Cash flows from investing activities

Purchase of tangible fixed assets

(258,857

)

(767,375

)

Sale of tangible fixed assets

-

103,500

Interest received

15,290

26,769

Net cash from investing activities

(243,567

)

(637,106

)

Cash flows from financing activities

Loan repayments in year

-

(704,165

)

Amount introduced by directors

-

30,000

Amount withdrawn by directors

(30,000

)

(30,000

)

Equity dividends paid

(4,000

)

(6,000

)

Net cash from financing activities

(34,000

)

(710,165

)

Increase in cash and cash equivalents

146,007

213,687

Cash and cash equivalents at beginning of year

2

1,722,456

1,508,769

Cash and cash equivalents at end of year

2

1,868,463

1,722,456

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

2025

2024

£

£

Profit before taxation

1,160,807

2,900,295

Depreciation charges

224,190

167,163

Loss/(profit) on disposal of fixed assets

8,739

(9,886

)

Amortisation of Goodwill

109,303

109,303

Finance costs

50,555

85,461

Finance income

(15,290

)

(26,769

)

1,538,304

3,225,567

Increase in stocks

(4,500

)

-

Decrease in trade and other debtors

678,231

169,365

Decrease in trade and other creditors

(1,035,247

)

(1,375,827

)

Cash generated from operations

1,176,788

2,019,105

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

1,868,463

1,722,456

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

1,722,456

1,508,769

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank

1,722,456

146,007

1,868,463

1,722,456

146,007

1,868,463

Debt

Debts falling due within 1 year

(125,837

)

85,857

(39,980

)

Debts falling due after 1 year

(460,638

)

(45,878

)

(506,516

)

(586,475

)

39,979

(546,496

)

Total

1,135,981

185,986

1,321,967

1.	STATUTORY INFORMATION

E G Lewis Group Investment Services Ltd 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 General 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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover from the sale of goods is recognised in the profit and loss account when significant risks and rewards of ownership have been transferred to the buyer. No turnover is recognised if there are significant uncertainties regarding recovery of the consideration due to associated costs, or there is the possibility of return of the goods. Turnover represents the sale of goods/revenue from contracts, excluding tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Motor vehicles

-

25% reducing balance and 25% on cost

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Financial instruments

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

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

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

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies are initially recognised at transaction price unless the measurement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Pension costs and other post-retirement benefits

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

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

Employee Benefits

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

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

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provisions for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Short term creditors are measured at the transaction price. Bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

7,839,233

10,748,475

7,839,233

10,748,475

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,047,581

5,430,243

Social security costs

430,313

597,978

Other pension costs

87,401

134,063

4,565,295

6,162,284

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

2025

2024

Admin

84

119

The average number of employees by undertakings that were proportionately consolidated during the year was 84 (2024 - 119 ) .

2025

2024

£

£

Directors' remuneration

150,550

149,570

5.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

224,190

167,163

Loss/(profit) on disposal of fixed assets

8,739

(9,886

)

Goodwill amortisation

109,303

109,303

Auditors' remuneration

33,816

24,000