REGISTERED NUMBER: 06821067 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

LDD CONSTRUCTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mr M D Seagroatt

Mrs C Seagroatt

Mr D McIver

Mr S J Gravestock

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

06821067 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

The directors present their strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS

The result for the year is shown on page 9. As shown in the profit and loss account, the company's operating profit for the year was £5,588,163 (2024: £2,570,178).

The company's balance sheet on page 11 shows net assets of £8,647,682 (2024: £4,927,107) at the end of the year, with a cash position of £2,413,061 (2024: £2,594,483). The state of affairs at the balance sheet date is considered to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs. The company does not use derivative financial instruments to manage interest rate costs and as such, no hedge accounting is applied.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the directors are implemented by the company's finance department.

Price risk

The company is exposed to price risk due to normal inflationary increases in the purchase price of goods and services purchased in the UK. The company has no exposure to equity securities price risk as it holds no listed or other equity investment.

Liquidity risk

The company actively maintains short-term debt finance that is designed to ensure that the company has sufficient available funds for operations and planned expansions.

Interest rate risk

The company has both interest bearing assets and interest bearing liabilities. Interest bearing assets include only cash balances which earn interest at fixed rate. The company has a policy of maintaining debt at a fixed rate to ensure certainty of future interest cash flows. The directors will revisit the appropriateness of this policy if the operations of the company change in size or nature.

EMPLOYEES

Staffing levels have stabilized over the past 12 months and more self-employed personnel have been taken on to cover the increased workload in the year. We don't anticipate any substantial increase in directly employed staff over the next 12 months.

The policy of the company is to employ the most suitably qualified persons regardless of age, religion, gender, sexual orientation or ethnic origin or any other grounds not related to a person's ability to work safely and effectively for the business. LDD recognises the importance of ensuring that relevant business information is provided to the employees prior to the employee's commencement date. This is achieved through initial induction (Health Questionnaire, Health & Safety, Anti-Bribery Policy, Skills and Qualifications Assessment) and regular training as required per the Construction Industry Standards.

KEY PERFORMANCE INDICATORS

The key financial performance indicators for the company are as follows:

2025

2024

Measure

Gross profit margin

22.9%

20.3%

Gross profit/Turnover

Debtor days

52 days

50 days

Trade debtors/Turnover (excluding group balances)

Creditor days

80 days

72 days

Trade creditors/Cost of sales (excluding group balances)

- Client satisfaction - Has improved over the years especially considering the relationships developed with our existing customers, with a good spread of work between a lot of the major main contractors in the UK.

- Employee Satisfaction - Maintaining of staff has been a key factor in LDD's growth.

- Qualifications and Skills - Regularly kept up to date and in line with the Construction Industry Standards.

- Fixed assets - company's growth has resulted in constant vehicle and plant purchases.

FUTURE CONTRACTS/ORDER BOOK

The company's level of activity has improved significantly in the last 12 months, mainly attributed to bigger projects being taken on and the industry returning to pre-pandemic levels if not better. The current order book for the next 12 months is similar to that of the last 12 months, with secured packages in excess of £22m and tender bids in excess of £10m for potential projects starting in the 3rd and 4th quarters (Jan-June 2025).

GENERAL OVERVIEW

The construction industry in the foreseeable future seems to be buoyant and those that were able to overcome the difficulties due to the Coronavirus pandemic and the Russia/Ukraine war would have come out of that period in a much stronger position than before. Prices within the industry now seem to be stabilizing, making it easier to tender for projects without having the risk of sudden significant price rises in resources as well as lead times for delivery. We anticipate a strong coming 12 months for the business.

ON BEHALF OF THE BOARD:

Mr M D Seagroatt - Director

28 October 2025

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of being one of the leading construction companies in London, providing various services within the industry, specialising in diamond drilling, concrete cutting, passive fire stopping and demolition services.

DIVIDENDS

The total distribution of dividends for the year ended 30 June 2025 amounted to £nil (2024: £nil).

DIRECTORS

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

Mr M D Seagroatt

Mrs C Seagroatt

Mr D McIver

Mr S J Gravestock

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mr M D Seagroatt - Director

28 October 2025

Opinion

We have audited the financial statements of LDD Construction Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 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:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment, and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where necessary.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected transactions;

- tested the appropriateness of journal entries;

- assessed whether judgements and assumptions made in determining the accounting estimate for the valuation of properties were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

To address the risk that revenue could be misstated due to fraud, we:

- obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard;

- performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions;

- tested a sample of revenue transactions to supporting evidence; and

- tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

28 October 2025

TURNOVER

60,195,133

47,965,096

Cost of sales

(46,423,815

)

(38,236,273

)

GROSS PROFIT

13,771,318

9,728,823

Administrative expenses

(8,183,155

)

(7,158,645

)

OPERATING PROFIT

4

5,588,163

2,570,178

Loan written off

5

(347,500

)

-

5,240,663

2,570,178

Interest receivable and similar income

66,785

4,872

5,307,448

2,575,050

Interest payable and similar expenses

6

(48,322

)

(76,298

)

PROFIT BEFORE TAXATION

5,259,126

2,498,752

Tax on profit

7

(1,538,551

)

(658,454

)

PROFIT FOR THE FINANCIAL YEAR

3,720,575

1,840,298

PROFIT FOR THE YEAR

3,720,575

1,840,298

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,720,575

1,840,298

FIXED ASSETS

Tangible assets

8

1,411,228

896,568

CURRENT ASSETS

Debtors

9

18,405,773

13,226,623

Cash at bank

2,413,061

2,594,483

20,818,834

15,821,106

CREDITORS

Amounts falling due within one year

10

13,228,903

11,088,366

NET CURRENT ASSETS

7,589,931

4,732,740

TOTAL ASSETS LESS CURRENT LIABILITIES

9,001,159

5,629,308

CREDITORS

Amounts falling due after more than one year

11

(81,759

)

(582,850

)

PROVISIONS FOR LIABILITIES

15

(271,718

)

(119,351

)

NET ASSETS

8,647,682

4,927,107

CAPITAL AND RESERVES

Called up share capital

16

1,000

1,000

Retained earnings

17

8,646,682

4,926,107

SHAREHOLDERS' FUNDS

8,647,682

4,927,107

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2025 and were signed on its behalf by:

Mr M D Seagroatt - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2023

1,000

3,085,809

3,086,809

Changes in equity

Total comprehensive income

-

1,840,298

1,840,298

Balance at 30 June 2024

1,000

4,926,107

4,927,107

Changes in equity

Total comprehensive income

-

3,720,575

3,720,575

Balance at 30 June 2025

1,000

8,646,682

8,647,682

Cash flows from operating activities

Cash generated from operations

1

3,229,232

3,363,081

Interest paid

(48,322

)

(76,298

)

Interest element of hire purchase payments paid

(53,384

)

(47,445

)

Tax paid

(894,113

)

(105,479

)

Net cash from operating activities

2,233,413

3,133,859

Cash flows from investing activities

Purchase of tangible fixed assets

(958,834

)

(304,752

)

Sale of tangible fixed assets

40,300

54,250

Interest received

66,785

4,872

Net cash from investing activities

(851,749

)

(245,630

)

Cash flows from financing activities

Loan repayments in year

(399,999

)

(481,263

)

Capital repayments in year

(207,020

)

(274,148

)

Amount introduced by directors

-

68,968

Amount withdrawn by directors

(90,000

)

-

Amounts paid to group undertakings

(866,067

)

(606,126

)

Net cash from financing activities

(1,563,086

)

(1,292,569

)

(Decrease)/increase in cash and cash equivalents

(181,422

)

1,595,660

Cash and cash equivalents at beginning of year

2

2,594,483

998,823

Cash and cash equivalents at end of year

2

2,413,061

2,594,483

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

2025

2024

£

£

Profit before taxation

5,259,126

2,498,752

Depreciation charges

444,174

349,394

Profit on disposal of fixed assets

(40,300

)

(42,601

)

Interest on HP

53,384

47,445

Finance costs

48,322

76,298

Finance income

(66,785

)

(4,872

)

5,697,921

2,924,416

Increase in trade and other debtors

(5,367,107

)

(2,972,587

)

Increase in trade and other creditors

2,898,418

3,411,252

Cash generated from operations

3,229,232

3,363,081

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 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

2,413,061

2,594,483

Year ended 30 June 2024

30.6.24

1.7.23

£

£

Cash and cash equivalents

2,594,483

998,823

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.24

Cash flow

At 30.6.25

£

£

£

Net cash

Cash at bank

2,594,483

(181,422

)

2,413,061

2,594,483

(181,422

)

2,413,061

Debt

Finance leases

(456,208

)

207,020

(249,188

)

Debts falling due within 1 year

(400,000

)

66,666

(333,334

)

Debts falling due after 1 year

(333,334

)

333,334

-

(1,189,542

)

607,020

(582,522

)

Total

1,404,941

425,598

1,830,539

1.	STATUTORY INFORMATION

LDD Construction 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.

Going concern

The financial statements have been prepared on a going concern basis, as described in the Directors' Report. This assumes that sufficient funds will be available for the company to continue in operational existence for the foreseeable future.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include:

- assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge, and

- the provision required for any bad or doubtful debts.

Turnover

Turnover is recognised when the services are performed. Turnover is reduced for estimated customer retentions, refunds and other similar allowances.

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.

Improvements to property

-

25% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that 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 receipts discounted at a market rate of interest.

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

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

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

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

Hire purchase and leasing commitments

Assets that are held by the company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the company's policy on borrowing costs (see the accounting policy above). Contingent rentals are recognised as expenses in the periods in which they are incurred.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight­line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

7,359,418

7,246,162

Social security costs

41,591

39,553

Other pension costs

310,814

457,350

7,711,823

7,743,065

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

2025

2024

Administrations and management staff

79

63

Operatives staff

55

55

134

118

2025

2024

£

£

Directors' remuneration

327,000

330,609

Directors' pension contributions to money purchase schemes

132,642

338,642

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

99,000

100,250

Pension contributions to money purchase schemes

120,000

200,000

4.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

274,824

231,698

Depreciation - assets on hire purchase contracts

169,350

117,695

Profit on disposal of fixed assets

(40,300

)

(42,601

)

Auditors' remuneration

58,439

47,148

5.	EXCEPTIONAL ITEMS

2025

2024

£

£

Loan written off

(347,500

)

-

During the year, loans amounting to £347,500 owed by Universal Acquisitions Limited were written off as the amounts were irrecoverable.The loans were within the group.

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

48,322

76,298

7.

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

1,386,184

629,936

(Over)/under provision of tax

-

(50,163

)

Total current tax

1,386,184

579,773

Deferred tax:

Origination and reversal of

timing differences

152,367

78,681

Tax on profit

1,538,551

658,454

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

5,259,126

2,498,752

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

1,314,782

624,688

Effects of:

Expenses not deductible for tax purposes

223,770

75,143

Capital allowances in excess of depreciation

(142,293

)

(59,245

)

Adjustments to tax charge in respect of previous periods

-

(50,163

)

Adjustment for deferred tax

152,367

78,681

(Profit)/Loss on disposal of assets

(10,075

)

(10,650

)

Total tax charge

1,538,551

658,454