REGISTERED NUMBER: 04143955 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

BRISTOL WESSEX BILLING SERVICES 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

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

L A Flowerdew

R E Jefferson

R A Price

A F Pymer

SECRETARIES:

S Lavington

Quayseco Limited

REGISTERED OFFICE:

1 Clevedon Walk

Nailsea

Bristol

BS48 1WA

REGISTERED NUMBER:

04143955 (England and Wales)

AUDITORS:

Gravita Audit Western Limited

Chartered Accountants & Registered Auditors

6-8 Bath Street

Bristol

BS1 6HL

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

Principal activities

The principal activities of the company are meter reading, billing, debt recovery and customer contact management on behalf of our clients.

Overview

For the purposes of this report, Bristol Wessex Billing Services will be referred to as Pelican Business Services (Pelican) which is the trading name of the business.

REVIEW OF BUSINESS

Pelican has continued to provide services in line with our principal activities. Bristol Water (BW) and Wessex Water (WW) still retain equal equity interests in the company.

Operating Costs

Overall operating costs increased by 5.6%, from £19.5m in 2024 to £20.6m in 2025. The continued impact of a competitive job market alongside wider inflationary pressures have caused our costs to increase, particularly in relation to postage costs where price increases have been materially higher than inflation.

Collections

During the period, Pelican collected £580m in 2025 (2024 £518m) for BW and WW combined, representing a 12% increase. This is largely in line with the BW/WW bill increases, although the current cost of living challenges are having some impact on collections.

Customer Measure of Experience (C-MeX)

A key metric for both BW and WW is the water industry C-MeX score which directly impacts the future prices that BW and WW can charge.

The services that Pelican provides to BW and WW primarily impact the Customer Services Score (CSS) which is based on a random sample of customers that have contacted their water company during the survey period. WW ranked 2nd and BW ranked 5th for CSS overall (Billing and Operations) with a separate data share showing that WW ranked 3rd and BW ranked 1st for the Billing element in isolation.

The billing element outcome is particularly pleasing as this is specific to the services that Pelican provides to BW/WW.

These rankings were against a total of 17 water companies that are measured in this way.

Our People

Our employee survey scores continue to remain strong with 96.2% of our people rating Pelican as a good place to work (2024 95.9%).

We reported a 2024/25 mean gender pay gap of 8.7% and a median of 0.3% which represented an increase on 2023/24 where it was 0.6% and -2.2% respectively.

We are very proud of how we compare to the overall national median rate of 13.1%.

A key factor of our success in this area is our positive approach towards flexible working and our aim of attracting women into roles historically filled by men such as meter reading.

Awards

Over the last 12 months Pelican has won the "Best People Development Award" and "Diversity & Inclusion Award" at the South West Contact Centre Awards.

OTHER KEY METRICS

The company continues to perform strongly against other key metrics used within the business. During the current financial year:

-

Our contact centre received 498k calls (2024 469k) excluding our automated phone lines. This increase goes against the downward trend seen in previous years.

-

Email volumes increased to 383k (2024 333k)

-

99.7% of billing contacts were responded to within our five-day SLA.

-

Written billing complaints comprised only 0.15% (2024 0.09%) of overall billing contacts

-

Our average Trustpilot score for 2024/25 was 4.63 against a maximum score of 5 with 84% of customers rating us as Excellent

PRINCIPAL RISKS AND UNCERTAINTIES

The business operates in a market where our customer base is pre-determined based on geography. As such, the customer activity is relatively predictable based on historic trends and the business is able to effectively plan around these.

Our IT systems are fundamental to the services that we provide to our customers, all of which are supported by SLAs with established partners. Pelican has also invested in an extensive business continuity plan; the outcome of which is that team members could be operational within two hours of the plan being invoked, with full systems within 24 hours.

Because of the nature of the Company's business, and more particularly arrangements for funding through BW and WW, it bears no direct financial risks and is fully supported by its parent companies. Letters of on-going support for the current financial year have been provided by both parent companies.

We are confident that the business will continue to trade normally for the foreseeable.

FUTURE DEVELOPMENTS

We will continue to invest in our people and systems to ensure that the business is well placed to meet and exceed our clients' expectations. We are continuing to implement a new billing system which will allow us to further improve on the already high service levels provided to our customers. Planned go-live for this new system is 2027.

ON BEHALF OF THE BOARD:

S Lavington - Secretary

31 October 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of meter reading, billing, debt recovery and customer contact management on behalf of our clients

DIRECTORS

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

L A Flowerdew

R A Price

A F Pymer

Other changes in directors holding office are as follows:

R E Jefferson - appointed 24 April 2024

C F Skellett - resigned 24 April 2024

DONATIONS

During the year, the following donations were made:

- £1,504 for sponsorship

- £690 to St Peters Hospice

DISABLED EMPLOYEES

Applications for employment from disabled persons are always fully considered,bearing in mind the respective aptitudes and abilities of the applicant concerned in the event of members of staff becoming disabled every effort is made to ensure that their employment within the company continues and appropriate training is arranged. It is the policy of the company that training, career development and promotion of a disabled person should, as far as possible, be identical to that of a person who does not suffer from a disability.

DIRECTORS' INDEMNITIES

The directors of BWBSL who are appointed by WW have the benefit of an indemnity as an Outside Entity under the Outside Directorship Extension which is a qualifying third party indemnity as defined by section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.

ENGAGEMENT WITH EMPLOYEES

A people survey was conducted during the year to ascertain the levels of engagement and to highlight any areas of opportunity. Following a senior management review of the survey scores and associated comments, our People Promise was updated with the aim of improving leadership and engagement across the business.

The plan considers four main areas - keeping you informed, developing your potential, looking after you and celebrating your successes.

Our People Council continues to flourish with representation from all parts of the business. This council acts as a route for two-way communication and is complementary to our other communication channels such as the intranet and the Managing Director's weekly update.

We will continue to survey our people twice annually with the aim of monitoring the effectiveness of people initiatives and to also identify further opportunities to enhance engagement across the business.

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.

AUDITORS

The auditors, Gravita Audit Western Limited, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Lavington - Secretary

31 October 2025

Opinion

We have audited the financial statements of Bristol Wessex Billing Services Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

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

o We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which it operates. We determined the following laws and regulations of most significance were: Companies Act 2006, UKGAAP and UK corporate taxation laws.

o We obtained an understanding of how the company complies with those legal and regulatory frameworks by making enquiries of management.

o We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur.

Audit procedures performed by the engagement team included:

o Identifying and assessing the effectiveness of controls management has in place to prevent and detect fraud;

o Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

o Challenging assumptions and judgements made by management in its significant accounting estimates;

o Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and

o Assessing the extent of compliance with the relevant laws and regulations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions.

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.

Matthew Bracher BSc FCA (Senior Statutory Auditor)

for and on behalf of Gravita Audit Western Limited

Chartered Accountants & Registered Auditors

6-8 Bath Street

Bristol

BS1 6HL

1 November 2025

TURNOVER

4

19,652

18,515

Cost of sales

(13,380

)

(12,401

)

GROSS PROFIT

6,272

6,114

Administrative expenses

(7,277

)

(7,155

)

(1,005

)

(1,041

)

Other operating income

944

1,026

OPERATING LOSS

6

(61

)

(15

)

Interest receivable and similar income

71

56

PROFIT BEFORE TAXATION

10

41

Tax on profit

7

(4

)

(5

)

PROFIT FOR THE FINANCIAL YEAR

6

36

PROFIT FOR THE YEAR

6

36

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

6

36

CURRENT ASSETS

Debtors

8

2,023

2,571

Cash at bank

1,704

1,324

3,727

3,895

CREDITORS

Amounts falling due within one year

9

(3,660

)

(3,834

)

NET CURRENT ASSETS

67

61

TOTAL ASSETS LESS CURRENT LIABILITIES

67

61

CAPITAL AND RESERVES

Called up share capital

12

-

-

Retained earnings

13

67

61

SHAREHOLDERS' FUNDS

67

61

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:

L A Flowerdew - Director

A F Pymer - Director

Called up

share

Retained

Total

capital

earnings

equity

£'000

£'000

£'000

Balance at 1 April 2023

-

25

25

Changes in equity

Profit for the year

-

36

36

Total comprehensive income

-

36

36

Balance at 31 March 2024

-

61

61

Changes in equity

Profit for the year

-

6

6

Total comprehensive income

-

6

6

Balance at 31 March 2025

-

67

67

Cash flows from operating activities

Cash generated from operations

1

320

(254

)

Tax paid

(11

)

-

Net cash from operating activities

309

(254

)

Cash flows from investing activities

Interest received

71

56

Net cash from investing activities

71

56

Cash flows from financing activities

Increase in amounts owed to groups

-

(492

)

Decrease in amounts owed to groups

-

689

Net cash from financing activities

-

197

Increase/(decrease) in cash and cash equivalents

380

(1

)

Cash and cash equivalents at beginning of year

2

1,324

1,325

Cash and cash equivalents at end of year

2

1,704

1,324

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

2025

2024

£'000

£'000

Profit before taxation

10

41

Finance income

(71

)

(56

)

(61

)

(15

)

Decrease in trade and other debtors

551

89

Decrease in trade and other creditors

(170

)

(328

)

Cash generated from operations

320

(254

)

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 March 2025

31.3.25

1.4.24

£'000

£'000

Cash and cash equivalents

1,704

1,324

Year ended 31 March 2024

31.3.24

1.4.23

£'000

£'000

Cash and cash equivalents

1,324

1,325

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£'000

£'000

£'000

Net cash

Cash at bank

1,324

380

1,704

1,324

380

1,704

Total

1,324

380

1,704

1.	COMPANY INFORMATION

Bristol Wessex Billing Services 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 (£).

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the directors have received confirmation from the parent companies that they will continue to provide support to the Company for a period of at least 12 months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements

The company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by Section 402 of the Companies Act 2006.

Significant judgements and estimates

The directors do not consider there to be significant estimates or judgements made during the preparation of the financial statements.

Turnover

Turnover represents income receivable in the ordinary course of business, excluding VAT, for services provided. All turnover is within the UK and of the same class of business to the provision of customer services, billing, meter reading and debt collection activities.

Turnover is recognised in the period in which the services are provided when all of the following conditions are satisfied: the amount of turnover can be measured reliably, it is probable that the company will receive the consideration due, and the costs incurred can be measured reliably.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 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, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. 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.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Hire purchase and leasing commitments

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. The assets of the plan are held separately from the company in independently administered funds.

Multi-employer pension plan

The company is a member of two pension schemes, one operated by BW (Water Companies' Pension Scheme) and one operated by WW (Wessex Water Pension Scheme) that provide defined benefits based on final pensionable pay. Given that it has not been possible to identify the underlying assets and liabilities attributable to each participating company, multi-employer treatment is applied, which results in accounting for the schemes on a defined contribution basis, as explained above.

4.

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:

2025

2024

£'000

£'000

United Kingdom

19,652

18,515

19,652

18,515

The whole of the turnover is attributable to the principal activity of the company.

5.	EMPLOYEES AND DIRECTORS

2025

2024

£'000

£'000

Wages and salaries

11,470

10,670

Social security costs

1,040

934

Other pension costs

870

798

13,380

12,402

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

2025

2024

Customer service

309

309

Administration

47

48

356

357

2025

2024

£

£

Directors' remuneration

-

-

The directors of the company did not receive any remuneration from the company during the year (2024 - £NIL), as they were paid by the parent companies. Their activities are deemed to be wholly attributable to their services to the parent companies.

6.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£'000

£'000

Other operating leases

181

172

Auditors' remuneration

11

15

Defined contribution pension

870

798

During the year auditors charged £4,000 for non audit services. The previous auditor charged £9,000 for non audit services.

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£'000

£'000

Current tax:

UK corporation tax

4

4

Deferred tax

-

1

Tax on profit

4

5

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£'000

£'000

Profit before tax

10

41

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 19%)

3

8

Effects of:

Short term timing differences leading to an increase (decrease) in taxation

2

(2

)

Non taxable income

(1

)

(1

)

Total tax charge

4

5

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£'000

£'000

Trade debtors

47

61

Amounts owed by group undertakings

1,201

1,749

Other debtors

16

6

Deferred tax asset

4

3

Prepayments and accrued income

755

752

2,023

2,571

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£'000

£'000

Trade creditors

578

628

Amounts owed to group undertakings

936

1,331

Tax

-

7

Social security and other taxes

230

219

VAT

496

432

Other creditors

208

104

Accrued expenses

1,212

1,113

3,660

3,834

Amounts owed to group undertakings are unsecured, interest free, have no fixed repayment date and are repayable on demand.

10.	FINANCIAL INSTRUMENTS

2025

2024

£'000

£'000

Financial assets

Cash at bank and in hand

1,704

1,324

Trade debtors

47

61

Amounts owed by group undertakings

1,201

1,749

2,952

3,134

Financial liabilities

Trade creditors

(578

)

(628

)

Amounts owed to group undertakings

(936

)

(1,331

)

Accruals

(1,212

)

(1,113

)

(2,726

)

(3,072

)