REGISTERED NUMBER: 06379641 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Level Peaks Associates Ltd

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

Notes to the Financial Statements

13

Directors:

K T Mann

M J Smith

C P Willis

Registered office:

Unit 4 Hereford Trade Park

Holmer Road

Hereford

HR4 9SG

Registered number:

06379641 (England and Wales)

Senior statutory auditor:

Mr Russell Spencer

Auditors:

Acre Accountancy Limited

Statutory Auditor

Certified Accountants

Unit 2 Foley Works

Foley Trading Estate

Hereford

Herefordshire

HR1 2SF

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

Review of business

The core business has continued to perform well across both new and existing markets. Current contracts continue to perform well with on-going and recurrent deliveries to core customers having a positive impact on all stakeholders. New contracts and market segments continue to be explored alongside the in-house development of new products. Overseas business opportunities continue to be explored, and those current contracts continue to perform.

One key contract ceased at the end of the financial year, however revenue will continue to be realised from this until 2026 and the business has identified new growth strategies in these markets to ensure that there are no gaps in revenue.

The business continues to be formally acknowledged by third parties, one of the awards achieved by Level Peaks Associates during 2025 was the prestigious Kings Award 2025 for International Trade.

The company is recognised as a consistent and reliable professional supplier of very high-quality systems within the chosen marketplace. Investment in the brand and reputation continues to have a positive effect to include ongoing development of our website, advertising and appropriate channels of social media, targeted marketing activities continue to create new opportunities. This has all enabled continued exploration of diversification opportunities.

Staff have continued to be trained with relevant new skills to positively support the current business delivery model, this has improved efficiency and delivered the business model more effectively.

The company finds itself on a solid footing and continues to grow in terms of staffing, expertise and financial stability enabling full delivery of the strategic business plan. The company is strongly placed within the marketplace with its broad in-house expertise to bid for and successfully win multiple new contracts during the next financial year, safeguarding future revenue streams.

Principal risks and uncertainties

UK Government spending has been under constant review for the duration of the period, as a result of this MOD projects continue to suffer both administrative and financial delays, core issues being that procurement plans and priorities are not routinely communicated to suppliers in a timely manner. This risk has been mostly mitigated by winning new contracts with new suppliers with similar system requirements along with identifying new purchasing mechanisms. The business continues to track and manage the requirements of the MOD as they are communicated, managing them effectively from that point onwards.

The geopolitical landscape has proved challenging this past year. Unpredictable relationships between world leaders have caused significant volatility in both currency markets and in the cost of raw materials.

This has had an adverse impact on the global markets, impacting foreign exchange rates, in particular the USD$ which continues to be volatile as the markets react to tariff announcements. The business has successfully mitigated this volatility in part by pro-active FOREX trading alongside adjusting its internal exchange rate risk on contracts.

The risk of rising interest rates has subsided during this reporting period, however inflation remains above target. The business continues to monitor the impact of this on its overheads with sufficient cash reserves maintained to ensure these costs are serviced with no overdraft currently in place.

Increases in costs have been on the whole absorbed and further mitigated by adjusting prices to customers. The business continues to monitor its core suppliers for competitiveness and manages costs appropriately, making savings where possible, ensuring value for money for the customer is maintained.

As the business continues to grow in new markets, becoming more visible to a broader range-of customers on multiple platforms has required us to obtain and retain an ISO27001 accreditation alongside Cyber Essentials Plus. Multi layered management information plans are in place and all staff are required to undertake on going cyber and security awareness training alongside in-house cyber specialists within the group.

Financial key performance indicators

The Company uses a number of key financial performance indicators in assessing and driving performance. The key financial indicators used by the Company are as follows:

2025

2024

Turnover (£)

42,512,103

54,999,439

Gross profit (£)

8,416,227

12,983,999

GP (%)

19.80

23.61

Profit after tax (£)

2,083,472

5,947,565

The Board are satisfied with the performance of the Company and have continued to invest in order to diversify and future-proof business entities.

On behalf of the board:

M J Smith - Director

19 November 2025

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

Dividends

An interim dividend of £500 per share on the Ordinary A 10p shares was paid on 21 March 2025. The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary B £1.00 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 31 March 2025 will be £ 500,000 .

Dividends of £500,000 (2024: £5,352,381) were declared and paid in the year. All dividends were paid to the parent company Ridgmont Holdings Limited.

Directors

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

K T Mann

M J Smith

C P Willis

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 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, Acre Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

M J Smith - Director

19 November 2025

Opinion

We have audited the financial statements of Level Peaks Associates Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 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.

Responsibilities of directors

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

We enquired with management about the legal framework that the company operates in. We also enquired about the risk of fraud and whether they were aware of any instances of fraud.

We communicated the outcome of this risk assessment with the audit team and planned our audit work accordingly. Our work in these areas is limited to analytical procedures and inspection of relevant documentation. Where a breach of operational regulations is not disclosed to us, or it is not evident from documentation that we receive during the audit, an audit will not detect that breach.

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.

Mr Russell Spencer (Senior Statutory Auditor)

for and on behalf of Acre Accountancy Limited

Statutory Auditor

Certified Accountants

Unit 2 Foley Works

Foley Trading Estate

Hereford

Herefordshire

HR1 2SF

26 November 2025

TURNOVER

3

42,512,103

54,999,439

Cost of sales

(34,095,876

)

(42,016,040

)

GROSS PROFIT

8,416,227

12,983,399

Distribution costs

(2,093,149

)

(2,261,978

)

Administrative expenses

(3,766,824

)

(2,823,094

)

OPERATING PROFIT

5

2,556,254

7,898,327

Interest receivable and similar income

5,911

17,213

2,562,165

7,915,540

Amounts written off investments

6

(43,688

)

-

2,518,477

7,915,540

Interest payable and similar expenses

7

(78,522

)

(16,954

)

PROFIT BEFORE TAXATION

2,439,955

7,898,586

Tax on profit

8

(356,483

)

(1,951,021

)

PROFIT FOR THE FINANCIAL YEAR

2,083,472

5,947,565

PROFIT FOR THE YEAR

2,083,472

5,947,565

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,083,472

5,947,565

FIXED ASSETS

Tangible assets

10

227,129

223,558

Investments

11

100

100

227,229

223,658

CURRENT ASSETS

Stocks

12

1,522,942

3,145,157

Debtors

13

9,576,045

1,989,484

Cash at bank and in hand

7,399,775

1,313,118

18,498,762

6,447,759

CREDITORS

Amounts falling due within one year

14

(14,540,886

)

(4,059,495

)

NET CURRENT ASSETS

3,957,876

2,388,264

TOTAL ASSETS LESS CURRENT LIABILITIES

4,185,105

2,611,922

CREDITORS

Amounts falling due after more than one year

15

-

(10,289

)

NET ASSETS

4,185,105

2,601,633

CAPITAL AND RESERVES

Called up share capital

20

111

111

Retained earnings

21

4,184,994

2,601,522

SHAREHOLDERS' FUNDS

4,185,105

2,601,633

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

M J Smith - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

111

2,006,338

2,006,449

Changes in equity

Dividends

-

(5,352,381

)

(5,352,381

)

Total comprehensive income

-

5,947,565

5,947,565

Balance at 31 March 2024

111

2,601,522

2,601,633

Changes in equity

Dividends

-

(500,000

)

(500,000

)

Total comprehensive income

-

2,083,472

2,083,472

Balance at 31 March 2025

111

4,184,994

4,185,105

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going Concern

The directors have reviewed budgets and forecasts for a period of 12 months from approval of the financial statements, considering this and the profits generated by the Company, as well as adequate resources, the directors are confident they are able to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Staffing structures and business opportunities are continually assessed with resources flexed and deployed to support ongoing delivery.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 29.28(b) and 29.29;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Level Peaks Associates Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, 1NewCo Ltd, Foley Trading Estate, Hereford, HR1 2SF.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and key sources of estimation uncertainty that the directors have made in the process of applying the company's accounting policies and that have a significant effect on the amounts recognised in the financial statements.

Valuation of stocks

Management have made judgements and assumptions when assessing the carrying value of stock. They consider that stock is appropriately held at the lower of cost and net realisable value. At each balance sheet date stocks are reviewed for impairment. If stocks are impaired the carrying value is reduced. The provision is based upon the ageing of the individual stock lines at the year end.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

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

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

- the company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

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

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

Tangible fixed assets

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

Freehold property

-

10% on cost

Fixtures and fittings

-

25-33% straight line

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished foods include labour and attributable overheads.

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

Financial instruments

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

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

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

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

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

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

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.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

31,510,263

32,005,172

Europe

11,001,840

22,994,267

42,512,103

54,999,439

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,267,622

2,266,055

Social security costs

248,234

361,676

Other pension costs

101,331

91,098

2,617,187

2,718,829

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

2025

2024

Employees

37

35

2025

2024

£

£

Directors' remuneration

186,835

174,560

Directors' pension contributions to money purchase schemes

11,592

11,200

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

Money purchase schemes

1

1

5.	OPERATING PROFIT

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

2025

2024

£

£

Other operating leases

180,261

153,847

Depreciation - owned assets

73,885

92,045

(Profit)/loss on disposal of fixed assets

(2,737

)

93,887

Exchange differences

(190,421

)

(1,028,189

)

Fees payable to auditors for audit of company's annual financial statements

12,950

12,950

Fees payable to auditors in respect of taxation compliance services

2,200

2,200

6.

AMOUNTS WRITTEN OFF INVESTMENTS

2025

2024

£

£

Group balances written off

43,688

-

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

48,829

15,753

Finance lease charges payable

906

1,201

Corporation tax interest

28,787

-

78,522

16,954

8.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

611,302

1,978,059

Adjustments in respect of

previous periods

(262,776

)

-

Total current tax

348,526

1,978,059

Deferred tax

7,957

(27,038

)

Tax on profit

356,483

1,951,021

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

2,439,955

7,898,586

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

609,989

1,974,647

Effects of:

Expenses not deductible for tax purposes

30,456

27,780

Income not taxable for tax purposes

-

(33

)

Depreciation in excess of capital allowances

68

5,818

Adjustments to tax charge in respect of previous periods

(262,776

)

(1,406

)

Group relief

(23,920

)

(55,785

)

Adjustment to deferred tax in respect of prior years

2,666

-

Total tax charge

356,483

1,951,021

9.

DIVIDENDS

2025

2024

£

£

Ordinary A shares of 10p each

Interim

500,000

5,352,381

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2024

31,775

27,113

448,181

210,821

717,890

Additions

2,498

-

30,802

56,499

89,799

Disposals

-

-

-

(14,450

)

(14,450

)

At 31 March 2025

34,273

27,113

478,983

252,870

793,239

Depreciation

At 1 April 2024

1,526

2,237

423,581

66,988

494,332

Charge for year

3,386

8,947

16,057

45,495

73,885

Eliminated on disposal

-

-

-

(2,107

)

(2,107

)

At 31 March 2025

4,912

11,184

439,638

110,376

566,110

Net book value

At 31 March 2025

29,361

15,929

39,345

142,494

227,129

At 31 March 2024

30,249

24,876

24,600

143,833

223,558

The net book value of assets held under finance leases or hire purchase contracts, included in motor vehicles above, are £1,947 (2024: £9,737).

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

100

Net book value

At 31 March 2025

100

At 31 March 2024

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Level Peaks Clothing Limited

Registered office: Unit 4, Hereford Trade Park, Holmer Road, Hereford, HR4 9SG.

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

100

100