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REGISTERED NUMBER: 03520870 (England and Wales)

Strategic Report, Report of the Director and

Audited Financial Statements for the Year Ended 30 April 2025

for

Image Creation Limited

Image Creation Limited (Registered number: 03520870)

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Director | 3 |

Report of the Independent Auditors | 5 |

Statement of Income and Retained Earnings | 9 |

Balance Sheet | 10 |

Cash Flow Statement | 11 |

Notes to the Cash Flow Statement | 12 |

Notes to the Financial Statements | 14 |

Image Creation Limited

Company Information

for the Year Ended 30 April 2025

| DIRECTOR: | A Kipping

| SECRETARY: | Mrs D Kipping

| REGISTERED OFFICE: | Unit 5 -6 Kingsmill Park London Road

| Loudwater

| High Wycombe

| HP10 9UB

| REGISTERED NUMBER: | 03520870 (England and Wales)

| AUDITORS: | Kirk Rice LLP

| The Courtyard

| High Street

| Ascot

| Berkshire

| SL5 7HP

Image Creation Limited (Registered number: 03520870)

Strategic Report

for the Year Ended 30 April 2025

The director presents his strategic report for the year ended 30 April 2025.

REVIEW OF BUSINESS

Image Creation is a multi-disciplined Employee Owner Trust (EOT)

This means our employees are shareholders. They all share in the success or failure of the business and therefore all buy into being as efficient as possible. I would like to think this is quite unique in the sector and does provide us with an invested, committed workforce that I hope will be able to continue add value to our clients across all work streams.

10 years after becoming an EOT our staff are recognized as fantastic assets and the reason why Image Creation's growth occurs.

Our aim is to be a single solution to our clients, in order that they we can offer an efficient project delivery. Covering everything from groundwork, internal fit outs, electrical engineering and fire compliance work, our typical work includes schools and colleges, social housing and high end pharmaceutical lab fit outs. We provide an end-to-end solution, adding value to our clients across all work streams.

PRINCIPAL RISKS AND UNCERTAINTIES

The business is growing and expanding . Sustained growth highlights areas of potential risk. It is important this year Image Creation's leadership team are agile in the way business is complete and identify any weak areas that become exposed and act quickly.

To meet our continued expansion, recruitment will be a key area for 25/26.

DEVELOPMENT AND PERFORMANCE

The EOT model has created an invested, committed workforce in a service sector that defines itself by high standards, competitive pricing but most importantly delivery.

Financially, Image Creation is producing excellent profit based on collective efficiencies within the work force. Gross profit increased in the year by 13% and our profit before tax 44%.

We hold significant cash reserves which will enable us to fund the future growth of the business.

ON BEHALF OF THE BOARD:

A Kipping - Director

29 September 2025

Image Creation Limited (Registered number: 03520870)

Report of the Director

for the Year Ended 30 April 2025

The director presents his report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of commercial refurbishments and fire safety compliance in commercial and educational properties.

DIVIDENDS

No dividends will be distributed for the year ended 30 April 2025.

RESEARCH AND DEVELOPMENT

As government pushes the Green agenda, many projects are BREEAM excellent and require cutting edge technological solutions. Our R & D is being utilized to provide energy solutions in tighter spaces, using multiple differing sources combined to achieve efficiencies for the client and the environment. We feel that especially around the congested London region and Educational Campuses requiring growth but thwarted with available space, this will provide solutions that sets Image Creation aside and continues our growth.

FUTURE DEVELOPMENTS

As we move into the 25/26 year Image Creation will look to fill key positions noted previously. As MD it will be my responsibility to support our teams by providing the resources and knowledge to ensure we can adapt to the needs of our clients.

Having already bought freehold property for the business to work from, we will look to expand and purchase the 2 remaining units on our site. This will provide expansion space and additional parking. Image are committed to efficiency and our solar provides power to 20% of our fleet. The property growth and additional parking will mean we will set target to get this closer to 60%.

Image will now look to sub divide collective responsibilities down from groups of staff to better release the productivity of the staff with their individual skill sets.

Training and development is key and the use of AI will feature in the next 12 months to stay technologically ahead of our competition and deliver solutions quicker for our clients.

DIRECTOR

A Kipping held office during the whole of the period from 1 May 2024 to the date of this report.

MEDIUM-SIZED COMPANIES EXEMPTION

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

Image Creation Limited (Registered number: 03520870)

Report of the Director

for the Year Ended 30 April 2025

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Kirk Rice LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Kipping - Director

29 September 2025

Report of the Independent Auditors to the Members of

Image Creation Limited

Opinion

We have audited the financial statements of Image Creation Limited (the 'company') for the year ended 30 April 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, 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 30 April 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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.

Report of the Independent Auditors to the Members of

Image Creation Limited

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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Image Creation Limited

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.

Our audit approach was developed by obtaining an understanding of the company’s activities, the key functions undertaken on behalf of the Board by management and by service organisations, and the overall control environment. Based on this understanding we assessed those aspects of the company’s transactions and balances which were most likely to give rise to a material misstatement and were most susceptible to irregularities including fraud or error. Specifically, we identified what we considered to be key audit risks and planned our audit approach accordingly.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with Companies Act 2006, IFRS, and regulations which affect the company’s products.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with Companies Act 2006, IFRS, and regulations which affect the company’s products.

We focused on laws and regulations that could give rise to a material misstatement in the company financial statements. Our tests included, but were not limited to:

- Agreement of the financial statements disclosures to underlying supporting documentation;

- Enquiries of management;

- Considering the effectiveness of control environment in monitoring compliance with laws and regulations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

Report of the Independent Auditors to the Members of

Image Creation Limited

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.

Andrew Beet (Senior Statutory Auditor)

for and on behalf of Kirk Rice LLP

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

30 September 2025

Image Creation Limited (Registered number: 03520870)

Statement of Income and Retained Earnings

for the Year Ended 30 April 2025

| 30.4.25 |  | 30.4.24

| as | restated |

| Notes | £ | £ |

TURNOVER | 4 | 15,189,699 |  | 14,835,523 |  |

Cost of sales | 8,472,557 |  | 8,865,906 |  |

GROSS PROFIT | 6,717,142 |  | 5,969,617 |  |

Administrative expenses | 4,384,348 |  | 4,305,276 |  |

2,332,794 |  | 1,664,341 |  |

Other operating income | 5 | 2,050 |  | 70 |  |

OPERATING PROFIT | 7 | 2,334,844 |  | 1,664,411 |  |

Interest receivable and similar income | 8 | 60,898 |  | 9,550 |  |

2,395,742 |  | 1,673,961 |  |

Interest payable and similar expenses | 9 | 42,382 |  | 43,154 |  |

PROFIT BEFORE TAXATION | 2,353,360 |  | 1,630,807 |  |

Tax on profit | 10 | 605,952 |  | 415,721 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,747,408 |  | 1,215,086 |  |

Retained earnings at beginning of year | 4,161,648 |  | 2,946,562 |  |

RETAINED EARNINGS AT END OF YEAR | 5,909,056 |  | 4,161,648 |  |

Image Creation Limited (Registered number: 03520870)

Balance Sheet

30 April 2025

| 30.4.25 | 30.4.24 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 12 | 1,514,041 |  | 1,161,994 |  |

CURRENT ASSETS

Stocks | 13 | 173,682 |  | - |  |

Debtors | 14 | 2,424,928 |  | 1,519,269 |  |

Cash at bank | 5,332,129 |  | 4,906,240 |  |

7,930,739 |  | 6,425,509 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,298,438 |  | 3,327,126 |  |

NET CURRENT ASSETS | 4,632,301 |  | 3,098,383 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,146,342 |  | 4,260,377 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (79,062 | ) | (98,629 | ) |

PROVISIONS FOR LIABILITIES | 18 | (158,124 | ) | - |  |

NET ASSETS | 5,909,156 |  | 4,161,748 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 100 |  | 100 |  |

Retained earnings | 20 | 5,909,056 |  | 4,161,648 |  |

SHAREHOLDERS' FUNDS | 5,909,156 |  | 4,161,748 |  |

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

A Kipping - Director

Image Creation Limited (Registered number: 03520870)

Cash Flow Statement

for the Year Ended 30 April 2025

| 30.4.25 |  | 30.4.24

| as | restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,188,584 |  | 2,933,501 |  |

Interest paid | (36,644 | ) | (37,560 | ) |

Interest element of hire purchase payments paid | (5,738 | ) | (5,594 | ) |

Tax paid | (289,183 | ) | 143,536 |  |

Net cash from operating activities | 857,019 |  | 3,033,883 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (472,259 | ) | (31,520 | ) |

Sale of tangible fixed assets | - |  | 2,961 |  |

Interest received | 60,898 |  | 9,550 |  |

Net cash from investing activities | (411,361 | ) | (19,009 | ) |

Cash flows from financing activities

Capital repayments in year | (19,769 | ) | (20,169 | ) |

Net cash from financing activities | (19,769 | ) | (20,169 | ) |

Increase in cash and cash equivalents | 425,889 |  | 2,994,705 |  |

Cash and cash equivalents at beginning of year | 2 | 4,906,240 |  | 1,911,535 |  |

Cash and cash equivalents at end of year | 2 | 5,332,129 |  | 4,906,240 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Cash Flow Statement

for the Year Ended 30 April 2025

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

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Profit before taxation | 2,353,360 |  | 1,630,807 |  |

| Depreciation charges | 120,212 |  | 54,270 |  |

| Profit on disposal of fixed assets | - |  | (2,961 | ) |

| Finance costs | 42,382 |  | 43,154 |  |

| Finance income | (60,898 | ) | (9,550 | ) |

2,455,056 |  | 1,715,720 |  |

| Increase in stocks | (173,682 | ) | - |  |

| (Increase)/decrease in trade and other debtors | (905,659 | ) | 271,137 |  |

| (Decrease)/increase in trade and other creditors | (187,131 | ) | 946,644 |  |

| Cash generated from operations | 1,188,584 |  | 2,933,501 |  |

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 30 April 2025

| 30.4.25 |  | 1.5.24

£ | £ |

| Cash and cash equivalents | 5,332,129 |  | 4,906,240 |  |

| Year ended 30 April 2024

| 30.4.24 |  | 1.5.23

| as restated |

£ | £ |

| Cash and cash equivalents | 4,906,240 |  | 1,911,535 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Cash Flow Statement

for the Year Ended 30 April 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.5.24 | Cash flow | At 30.4.25

£ | £ | £ |

| Net cash |

| Cash at bank | 4,906,240 |  | 425,889 |  | 5,332,129 |  |

4,906,240 |  | 425,889 |  | 5,332,129 |  |

| Debt

| Finance leases | (118,397 | ) | 19,769 |  | (98,628 | ) |

(118,397 | ) | 19,769 |  | (98,628 | ) |

| Total | 4,787,843 |  | 445,658 |  | 5,233,501 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

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

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

2. | 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.

| Critical accounting judgements

| The vans operated by the company are held on leases. It is the director's opinion that the leases are operating leases and the lease costs have therefore been included in the profit and loss account for the year.

| Turnover and other income

| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

| Rendering of services

| When the outcome of a transaction can be estimated reliably, turnover from project work is recognized by reference to the stage of completion at the balance sheet date.

| Where the outcome cannot be measured reliably, turnover is recognized only to the extent of the expenses recognized that are recoverable.

| Construction contracts

| When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognized by reference to the stage of completion at the balance sheet date.

| Where the outcome cannot be measured reliably, contract costs are recognized as an expense in the period in which they are incurred and contract turnover is recognized to the extent of costs incurred that it is probable will be recoverable.

| Interest Income

| Interest income is recognized when received.

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

3. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 5% on cost

| Plant and machinery | - | 25% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 25% on cost

| Stocks

| Stock, materials and consumables are valued at the lower of cost and net realizable value, after making due allowance for obsolete and slow moving items.

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

3. | ACCOUNTING POLICIES - continued

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, 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 instrument.

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

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

| Basic Financial Assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

| Basic Financial Liabilities

| Basic financial liabilities, including creditors and bank loans are classified as debt and initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.

| Debt instruments are subsequently carried at amortized cost, using the effective rate of interest.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognized initially at transaction price and subsequently measured at amortized cost using the effective interest method.

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

3. | ACCOUNTING POLICIES - continued

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Hire purchase and leasing commitments

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

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

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

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

3. | ACCOUNTING POLICIES - continued

| Employee benefits and pension costs

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

| The cost of any unused holiday entitlement is recognized in the period in which the employee's services are received.

| Termination benefits are recognized immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

| Going concern

| At the time of approving the financial statements the directors review cash flow forecasts and ensure that sufficient funds are available to give a reasonable expectation that the company has adequate resources to continue in operations existence for the foreseeable future. This the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the principal activities of the company.

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

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| General Construction | 5,468,291 |  | 5,340,788 |  |

| Electrical works | 5,316,395 |  | 5,192,433 |  |

| Roofing | 1,518,970 |  | 1,483,553 |  |

| Other Projects | 2,886,043 |  | 2,818,749 |  |

15,189,699 |  | 14,835,523 |  |

| An analysis of turnover by geographical market is given below:

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| United Kingdom | 15,189,699 |  | 14,835,523 |  |

15,189,699 |  | 14,835,523 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

5. | OTHER OPERATING INCOME

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Sundry receipts | 2,050 |  | 70 |  |

6. | EMPLOYEES AND DIRECTORS

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Wages and salaries | 3,002,356 |  | 2,776,770 |  |

| Social security costs | 244,352 |  | 289,788 |  |

| Other pension costs | 171,844 |  | 371,344 |  |

3,418,552 |  | 3,437,902 |  |

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

| 30.4.25 |  | 30.4.24

| as | restated |

| Electrical staff | 22 |  | 20 |  |

| Fabric staff | 20 |  | 20 |  |

42 |  | 40 |  |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Director's remuneration | 207,164 |  | 273,282 |  |

| Information regarding the highest paid director is as follows:

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Emoluments etc | 207,164 |  | 273,282 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

7. | OPERATING PROFIT

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

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Hire of plant and machinery | 137,162 |  | 129,114 |  |

| Other operating leases | 163,707 |  | 154,867 |  |

| Depreciation - owned assets | 77,776 |  | 10,747 |  |

| Depreciation - assets on hire purchase contracts | 42,436 |  | 42,436 |  |

| Profit on disposal of fixed assets | - |  | (2,961 | ) |

| Auditors' remuneration | 18,000 |  | - |  |

8. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Deposit account interest | 60,898 |  | 9,550 |  |

9. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Other interest | 36,644 |  | 37,560 |  |

| Hire purchase interest | 5,738 |  | 5,594 |  |

42,382 |  | 43,154 |  |

10. | TAXATION

| Analysis of the tax charge

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

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Current tax:

| UK corporation tax | 447,828 |  | 415,721 |  |

| Deferred tax | 158,124 |  | - |  |

| Tax on profit | 605,952 |  | 415,721 |  |

| UK corporation tax has been charged at 25% .

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

10. | TAXATION - continued

| 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:

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Profit before tax | 2,353,360 |  | 1,630,807 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 588,340 |  | 407,702 |  |

| Effects of:

| Expenses not deductible for tax purposes | 1,833 |  | 2,891 |  |

| Capital allowances in excess of depreciation | (15,807 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 5,128 |  |

| Adjustments to tax charge in respect of previous periods | (126,538 | ) | - |  |

| Deferred tax- origination and reversal of timing differences | 158,124 |  | - |  |

| Total tax charge | 605,952 |  | 415,721 |  |

11. | PRIOR YEAR ADJUSTMENT

| The loan from the director of £750,000 was included in the previous year's financial statements as falling due more than one year from the balance sheet date. This has been amended in these financial statements to be shown as falling due within one year. The loan was originally due to be repaid on 31 December 2024, but the repayment date was extended to 30 April 2026.

| There is no effect on the profit for the period.

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

12. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and |  | Motor |  | Computer |

| property |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 May 2024 | 1,052,928 |  | 387 |  | 212,734 |  | 35,276 |  | 1,301,325 |  |

| Additions | 466,130 |  | - |  | - |  | 6,129 |  | 472,259 |  |

| At 30 April 2025 | 1,519,058 |  | 387 |  | 212,734 |  | 41,405 |  | 1,773,584 |  |

| DEPRECIATION

| At 1 May 2024 | - |  | 97 |  | 106,367 |  | 32,867 |  | 139,331 |  |

| Charge for year | 64,409 |  | 97 |  | 53,184 |  | 2,522 |  | 120,212 |  |

| At 30 April 2025 | 64,409 |  | 194 |  | 159,551 |  | 35,389 |  | 259,543 |  |

| NET BOOK VALUE

| At 30 April 2025 | 1,454,649 |  | 193 |  | 53,183 |  | 6,016 |  | 1,514,041 |  |

| At 30 April 2024 | 1,052,928 |  | 290 |  | 106,367 |  | 2,409 |  | 1,161,994 |  |

| Included in cost of land and buildings is freehold land of £ 230,878 (2024 - £ 144,633 ) which is not depreciated.

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 169,744 |  |

| DEPRECIATION

| At 1 May 2024 | 84,872 |  |

| Charge for year | 42,436 |  |

| At 30 April 2025 | 127,308 |  |

| NET BOOK VALUE

| At 30 April 2025 | 42,436 |  |

| At 30 April 2024 | 84,872 |  |

13. | STOCKS

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Materials and consumables | 173,682 |  | - |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Trade debtors | 1,944,215 |  | 1,425,536 |  |

| Other debtors | - |  | 7,011 |  |

| Prepayments and accrued income | 480,713 |  | 86,722 |  |

2,424,928 |  | 1,519,269 |  |

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Hire purchase contracts (see note 17) | 19,566 |  | 19,768 |  |

| Trade creditors | 691,398 |  | 684,157 |  |

| Tax | 574,366 |  | 415,721 |  |

| Social security and other taxes | 63,124 |  | 121,258 |  |

| VAT | 471,925 |  | 183,327 |  |

| Other creditors | 943,029 |  | 1,080,816 |  |

| Accruals and deferred income | 535,030 |  | 822,079 |  |

3,298,438 |  | 3,327,126 |  |

| Included in other creditors is a loan from the director. This attracts an interest rate of 5% and is due for repayment on 30 April 2026.

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Hire purchase contracts (see note 17) | 79,062 |  | 98,629 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

17. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 30.4.25 |  | 30.4.24 |

| as | restated |

£ | £ |

| Net obligations repayable:

| Within one year | 19,566 |  | 19,768 |  |

| Between one and five years | 79,062 |  | 98,629 |  |

98,628 |  | 118,397 |  |

| Hire purchase agreements relate to company vehicles.

| Non-cancellable |

| operating leases |

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Within one year | 125,647 |  | 151,981 |  |

| Between one and five years | 297,321 |  | 135,647 |  |

422,968 |  | 287,628 |  |

18. | PROVISIONS FOR LIABILITIES

| 30.4.25 |  | 30.4.24

| as | restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 158,124 |  | - |  |

| Deferred |

| tax |

£ |

| Provided during year | 158,124 |  |

| Balance at 30 April 2025 | 158,124 |  |

Image Creation Limited (Registered number: 03520870)

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.4.25 |  | 30.4.24

| value: |  | as restated |

£ | £ |

| 100 | Ordinary | 1 | 100 |  | 100 |  |

| Ordinary shares have equal rights to dividends, votes and on the winding up of the company.

20. | RESERVES

| Retained

| earnings

£ |

| At 1 May 2024 | 4,161,648 |  |

| Profit for the year | 1,747,408 |  |

| At 30 April 2025 | 5,909,056 |  |

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension plan for its employees and directors. The amount recognized as an expense in the period was £171,844 (2024: £371,344).

| Of this £60,000 related to the director in 2025 and £110,000 in 2024.

22. | EMPLOYEE OWNERSHIP TRUST

| The share capital of the company is owned 100% by Image Creation Trustees Limited, on behalf of Image Creation employee ownership trust.