STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TLA DISTRIBUTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditor

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

D Curtis

Mrs E L Tomlinson

R Sharpe

D C Curtis

T B Griffiths

A Wylie

SECRETARY:

D Curtis

REGISTERED OFFICE:

63-69 Moorbridge Road

Bingham

Nottinghamshire

NG13 8GG

REGISTERED NUMBER:

03572974 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr James Timothy Card FCCA

AUDITOR:

Hewitt Card Limited

Statutory Auditor

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The Company's objectives are to provide from stock a comprehensive and high quality supply of switch and fuse gear along with associated products to industry users.

This is achieved through a developing branch network and the employment of knowledgeable staff together with ensuring the supply of products from industry leading names.

REVIEW OF BUSINESS

The Board feel the result for the year is relatively pleasing, specifically when viewed in conjunction with the economic and political uncertainties faced during this time.

The Company has managed funds and resources prudently throughout and has maintained a balanced position providing supply and support to key industries while maintain financial discipline to ensure continued profitability and returns to stakeholders while working within the finance available and regulations imposed.

Profits generated have been used to strengthen the Company's working capital and also support investment in increased and improved warehousing facilities that are expected to come fully operational in 2026.

At the end of the year the Board are satisfied with both the result achieved and the overall year end position; and to date the Company continues to trade satisfactorily.

The key performance indicators of the Company are given below:

2025

2024

Gross profit

£9.0m

£9.3m

Gross profit percentage

25.74%

26.65%

Net profit/(loss)

£1.47m

£1.8m

Stockholding days

85

65

Debtor days

76

99

Shareholders funds

£11.5m

£10m

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks facing the Company is the maintenance of a diverse and credit worthy customer base along with effective management of working capital.

The Company manages it's cash flow through borrowing secured on the Company's debtors. These levels are continually reviewed to ensure projected needs are covered.

The Company's exposure to debt is managed through debt control with review of the Company's customer base to ensure there is no concentration of risk.

Stock levels are reviewed regularly to both ensure continuity of supply and combat obsolete stock.

ON BEHALF OF THE BOARD:

D Curtis - Director

17 November 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 28 February 2025.

DIRECTORS

The directors during the year under review were:

D Curtis

Mrs E L Tomlinson

R Sharpe

D C Curtis

T B Griffiths

A Wylie

The directors holding office at 28 February 2025 did not hold any beneficial interest in the issued share capital of the company at 1 March 2024 or 28 February 2025.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditor is 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 auditor is aware of that information.

AUDITOR

The auditors, Hewitt Card Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D Curtis - Director

17 November 2025

Opinion

We have audited the financial statements of TLA Distribution Limited (the 'company') for the year ended 28 February 2025 which comprise the Statement of 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 28 February 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor 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 Auditor thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditor 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:

We have adopted a risk based approach based upon analytical procedures and knowledge of the clients systems and environment it operates in.

This enables us to design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for the audit opinion.

To obtain an understanding of internal control where relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control.

To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

To conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.

The likelihood of detecting irregularities is inherently difficult and we have designed our tests and procedures to reduce this risk.

- We have enquired of management and the company's solicitors around actual and potential litigation and claims.

- Review of company minutes of meetings of those charged with governance.

- Reviewing financial statements disclosure and testing supporting documentation to assess compliance with applicable laws and regulations.

- Review and testing of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions.

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 Auditor.

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 Auditor 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.

Mr James Timothy Card FCCA (Senior Statutory Auditor)

for and on behalf of Hewitt Card Limited

Statutory Auditor

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

17 November 2025

TURNOVER

35,020,428

34,936,580

Cost of sales

26,003,573

25,626,968

GROSS PROFIT

9,016,855

9,309,612

Distribution costs

124,726

112,622

Administrative expenses

6,558,729

6,431,887

6,683,455

6,544,509

OPERATING PROFIT

5

2,333,400

2,765,103

Interest payable and similar expenses

6

80,459

91,465

PROFIT BEFORE TAXATION

2,252,941

2,673,638

Tax on profit

7

782,696

896,946

PROFIT FOR THE FINANCIAL YEAR

1,470,245

1,776,692

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,470,245

1,776,692

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

2,466,077

2,030,460

2,466,077

2,030,460

CURRENT ASSETS

Stocks

11

7,338,099

6,183,647

Debtors

12

7,904,641

9,481,518

Cash at bank and in hand

2,686,302

1,338,347

17,929,042

17,003,512

CREDITORS

Amounts falling due within one year

13

8,063,888

8,002,483

NET CURRENT ASSETS

9,865,154

9,001,029

TOTAL ASSETS LESS CURRENT LIABILITIES

12,331,231

11,031,489

CREDITORS

Amounts falling due after more than one year

14

(670,824

)

(834,086

)

PROVISIONS FOR LIABILITIES

18

(118,104

)

(125,345

)

NET ASSETS

11,542,303

10,072,058

CAPITAL AND RESERVES

Called up share capital

19

200

200

Retained earnings

20

11,542,103

10,071,858

SHAREHOLDERS' FUNDS

11,542,303

10,072,058

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

D Curtis - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2023

200

8,295,166

8,295,366

Changes in equity

Total comprehensive income

-

1,776,692

1,776,692

Balance at 29 February 2024

200

10,071,858

10,072,058

Changes in equity

Total comprehensive income

-

1,470,245

1,470,245

Balance at 28 February 2025

200

11,542,103

11,542,303

Cash flows from operating activities

Cash generated from operations

1

3,291,769

2,289,583

Interest paid

(33,429

)

(38,615

)

Interest element of hire purchase payments paid

(47,030

)

(52,850

)

Tax paid

(903,602

)

(883,424

)

Net cash from operating activities

2,307,708

1,314,694

Cash flows from investing activities

Purchase of tangible fixed assets

(862,507

)

(485,210

)

Sale of tangible fixed assets

79,739

49,960

Net cash from investing activities

(782,768

)

(435,250

)

Cash flows from financing activities

Loan repayments in year

(60,112

)

(56,788

)

Capital repayments in year

(116,873

)

171,162

Net cash from financing activities

(176,985

)

114,374

Increase in cash and cash equivalents

1,347,955

993,818

Cash and cash equivalents at beginning of year

2

1,338,347

344,529

Cash and cash equivalents at end of year

2

2,686,302

1,338,347

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

28.2.25

29.2.24

£

£

Profit before taxation

2,252,941

2,673,638

Depreciation charges

332,185

325,083

Loss/(profit) on disposal of fixed assets

14,966

(5,823

)

Finance costs

80,459

91,465

2,680,551

3,084,363

Increase in stocks

(1,154,452

)

(451,212

)

Decrease/(increase) in trade and other debtors

1,576,877

(1,568,289

)

Increase in trade and other creditors

188,793

1,224,721

Cash generated from operations

3,291,769

2,289,583

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 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

2,686,302

1,338,347

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

1,338,347

344,529

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank and in hand

1,338,347

1,347,955

2,686,302

1,338,347

1,347,955

2,686,302

Debt

Finance leases

(567,198

)

116,873

(450,325

)

Debts falling due within 1 year

(61,532

)

(5,901

)

(67,433

)

Debts falling due after 1 year

(450,932

)

66,013

(384,919

)

(1,079,662

)

176,985

(902,677

)

Total

258,685

1,524,940

1,783,625

1.	STATUTORY INFORMATION

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

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Sale of goods

Turnover from the sale of goods is recognised when;

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

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold

- the amount of turnover can be measured reliably

- it is probable that the economic benefits associated with the transaction will flow to the company

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

Intangible fixed assets - development costs

Expenditure on research and development is charged to the profit and loss account in the year in which it is incurred with the exception of expenditure incurred in respect of the development of major new products where the outcome of those projects is assessed as being reasonably certain as regards viability and technical feasibility. Such expenditure is capitalised and amortised straight line over the estimated period of sale for each product, commencing in the year that sales of the product are first made.

Amortisation is provided over 2 years on a straight line basis.

Tangible fixed assets

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

Freehold property

-

2% on cost

Short leasehold

-

Straight line over 5 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

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

Stock is valued on the AVCO basis.

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.

Cash and cash equivalents are basic financial assets and 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 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, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

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

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Slow moving stock

The company holds a diverse range of stock and closely monitors the movement of each line. The company recognises the need to be prudent and to provide a basis upon which to identify slow moving stock. Provision is provided based on the length of time since there was activity and the write down is scaled up to a maximum of 100% of cost.

4.	EMPLOYEES AND DIRECTORS

28.2.25

29.2.24

£

£

Wages and salaries

3,279,741

3,388,744

Social security costs

318,774

309,096

Other pension costs

235,269

241,369

3,833,784

3,939,209

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

28.2.25

29.2.24

92

90

28.2.25

29.2.24

£

£

Directors' remuneration

639,653

391,323

Directors' pension contributions to money purchase schemes

130,685

83,417

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

Money purchase schemes

6

6

Information regarding the highest paid director is as follows:

28.2.25

29.2.24

£

£

Emoluments etc

163,358

198,058

Pension contributions to money purchase schemes

59,999

59,999

5.	OPERATING PROFIT

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

28.2.25

29.2.24

£

£

Hire of plant and machinery

75,494

101,965

Depreciation - owned assets

213,181

154,889

Depreciation - assets on hire purchase contracts

119,004

170,193

Loss/(profit) on disposal of fixed assets

14,966

(5,823

)

Auditors' remuneration

17,575

16,375

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

28.2.25

29.2.24

£

£

Invoice discounting interest

-

76

Other interest

165

2,249

Loan

33,264

36,290

Hire purchase

47,030

52,850

80,459

91,465

7.

TAXATION

Analysis of the tax charge

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

28.2.25

29.2.24

£

£

Current tax:

UK corporation tax

789,937

902,771

Under/(Over) provision from previous year

-

(17

)

Total current tax

789,937

902,754

Deferred tax:

Origination and reversal of timing differences

(7,241

)

(5,808

)

Tax on profit

782,696

896,946

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:

28.2.25

29.2.24

£

£

Profit before tax

2,252,941

2,673,638

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.491%)

563,235

654,801

Effects of:

Expenses not deductible for tax purposes

218,399

237,942

Income not taxable for tax purposes

-

(1,426

)

Depreciation in excess of capital allowances

8,303

11,454

Adjustments to tax charge in respect of previous periods

-

(17

)

Deferred tax

(7,241

)

(5,808

)

Total tax charge

782,696

896,946

8.	PENSION COMMITMENTS

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

The total cost of contributions in the period is £235,269 (2024: £477,670). At 28th February 2025 £163,370 was outstanding in respect of contributions (2024:£196,301)