REGISTERED NUMBER: 02366728 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

KIERNAN CONSTRUCTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Mr P A Kiernan

Mrs C J Kiernan

Mr J D Eccles

Mr C R Ward

Mr D Moore

Mrs S C Warner

Mr M O'Malley

SECRETARY:

Mrs C J Kiernan

REGISTERED OFFICE:

Rowan House

8 Rough Hey

Ribbleton

Preston

Lancashire

PR2 5AR

REGISTERED NUMBER:

02366728 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

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

REVIEW OF BUSINESS

The current results are an expected improvement on the previous year. The business is still challenged by inflationary movements, climate and government uncertainty and general economic pressures. Kiernan's have used a strategy to manage its risk exposure and to focus on the best opportunities available. This approach has proved effective, and the company future is now secure with a return to past turnover levels and projected growth year on year predicted.

The 12 months to June 2025 were satisfactory for the company following previous challenging periods felt by the company and the industry as a whole. Foundations have been laid for ongoing productivity and efficiency gains. A strengthened and motivated management team and tough decision-making have meant that we are performing well for 2025-2026, with turnover and margins already ahead of the business plan. We are pleased to have been able to prioritise our strong customer relationships despite the inflationary environment and market conditions of previous years and as a result, already secured turnover of c.£15m.

As a family-owned business with a history spanning more than 50 years this return to expected levels of turnover/profitability, helped by the transition to a more selective approach to the projects we work on, and a diversified workload will see Kiernan's take a prominent role in its sector. There are a number of opportunities ahead that will continue to project the business growth over the next 12 months and beyond. The business leads with our reputation of quality, customer experience, and steadfast reliability. Our focus remains on enhancing capability to meet changing consumer trends and deliver productivity, to ensure Kiernan's is well placed for future progress. Our future success is backed by the continued achievement of BS EN ISO 9001:2015 Quality Management Systems and BS EN ISO 45001:2018 OH&S Management Systems with a BSI accredited assessor, which will give all our customers confidence in the processes and outcomes of the work we undertake.

The company has continued to invest in the future by providing a comprehensive employee training programme. We have also invested heavily in sustainable assets and products and continue to do so, in an effort to help the company reach its goal of net zero carbon footprint.

The company's principal activities during the year continued to be building and civil engineering and our key financial and other performance indicators during the year were as follows

2025

2024

Change

£'000

£'000

Turnover

22,827

12,659

80.3%

Gross Profit

2,756

862

219.7%

Profit After Tax

1,004

-32

3,137%

Equity Shareholders' Funds

5,415

4,411

22.8%

Current Assets as % of

Current Liabilities (Quick Ratio)

193%

248%

-55%

Average Number of Employees

51

49

1.4%

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties are the potential adverse global economic issues within the construction industry, along with wider global economic problems linked to worldwide conflicts. Other key business risks are the competition in the market place, rising costs and potential litigation and disputes arising on contracts.

DEVELOPMENT AND PERFORMANCE

As at the date of this report, our order book remains strong, despite the global uncertainties. In partnership with our core clients, we are developing sustainable and stable growth.

ON BEHALF OF THE BOARD:

Mrs C J Kiernan - Director

1 December 2025

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

DIVIDENDS

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

FUTURE DEVELOPMENTS

The directors do not envisage any significant changes in the way the company operates in the foreseeable future.

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 P A Kiernan

Mrs C J Kiernan

Mr J D Eccles

Mr C R Ward

Mr D Moore

Mrs S C Warner

Mr M O'Malley

Other changes in directors holding office are as follows:

Mr G Jennings - resigned 30 April 2025

Mr J Kiernan - resigned 6 December 2024

Mr P J Troubridge - resigned 20 November 2024

FINANCIAL INSTRUMENTS

The company's exposure to price risk, credit risk. liquidity risk and cash flow risk is monitored by the directors and appropriate procedures are implemented accordingly.

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:

Mrs C J Kiernan - Director

1 December 2025

Opinion

We have audited the financial statements of Kiernan Construction Limited (the 'company') for the year ended 30 June 2025 which comprise the Statement of 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 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:

Based on our understanding of the entity and the industry in which it operates, we are required to identify principal risks of non-compliance with laws and regulations that could have a material impact on the financial statements. This includes general regulatory requirements applicable to construction sites, such as relevant health and safety obligations, as well as the requirements of the Companies Act 2006, which directly influence the preparation of the financial statements.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal fraud risks related to the posting of inappropriate journals and the manipulation of accounting estimates in order to influence reported profitability. Significant accounting estimates susceptible to management bias include the valuation of work-done receivables.

Audit procedures performed in order to mitigate the risks highlighted include the following:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud.

- Evaluation of the design and implementation of the management's controls to prevent and detect irregularities.

- Reviewing key correspondence with regulatory authorities in relation to compliance with relevant regulations.

- Challenging assumptions and judgements made by the management as well as explanations given.

- Identifying and testing journal entries, in particular those posted with unusual account combinations.

- Testing specific procedures and amounts based around work in progress and contract income receivable.

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

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.

Charles Bryning FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

1 December 2025

TURNOVER

22,826,976

12,658,514

Cost of sales

20,070,999

11,796,543

GROSS PROFIT

2,755,977

861,971

Administrative expenses

1,598,183

1,368,021

1,157,794

(506,050

)

Other operating income

235,556

467,727

OPERATING PROFIT/(LOSS)

5

1,393,350

(38,323

)

Interest receivable and similar income

37,601

10,397

1,430,951

(27,926

)

Interest payable and similar expenses

6

67,121

33,826

PROFIT/(LOSS) BEFORE TAXATION

1,363,830

(61,752

)

Tax on profit/(loss)

7

360,110

(29,745

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

1,003,720

(32,007

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,003,720

(32,007

)

FIXED ASSETS

Tangible assets

8

1,183,644

1,170,190

CURRENT ASSETS

Stocks

9

67,408

66,284

Debtors

10

8,147,295

4,867,211

Cash at bank and in hand

1,605,462

1,339,056

9,820,165

6,272,551

CREDITORS

Amounts falling due within one year

11

(5,085,368

)

(2,524,780

)

NET CURRENT ASSETS

4,734,797

3,747,771

TOTAL ASSETS LESS CURRENT LIABILITIES

5,918,441

4,917,961

CREDITORS

Amounts falling due after more than one year

12

(234,776

)

(264,991

)

PROVISIONS FOR LIABILITIES

15

(268,555

)

(241,580

)

NET ASSETS

5,415,110

4,411,390

CAPITAL AND RESERVES

Called up share capital

16

25,000

25,000

Retained earnings

17

5,390,110

4,386,390

SHAREHOLDERS' FUNDS

5,415,110

4,411,390

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

Mr P A Kiernan - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2023

25,000

4,418,397

4,443,397

Changes in equity

Total comprehensive income

-

(32,007

)

(32,007

)

Balance at 30 June 2024

25,000

4,386,390

4,411,390

Changes in equity

Total comprehensive income

-

1,003,720

1,003,720

Balance at 30 June 2025

25,000

5,390,110

5,415,110

1.	STATUTORY INFORMATION

Kiernan 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.

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.

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 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Kiernan Construction Limited as an individual company and do not contain consolidated financial information as the parent of a group as all subsidiary undertakings have been excluded from the consolidation on the grounds of immateriality.

Turnover

Turnover comprises the value of work performed, goods sold and services provided excluding Value Added Tax. Amounts in respect of contracts included in turnover, net of payments received on account, are shown in debtors as amounts recoverable on contracts. Cash received in excess of the value of work done is shown in creditors as payments on account.

In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion. An appropriate proportion of the anticipated contract profit is recognised in the profit and loss account based on the stage of completion of the work done and the expected end life outcome.

Provision is made for anticipated contract losses. Pre-contract costs incurred before it is virtually certain that a contract will be awarded are charged to the profit and loss account. Once virtually certain of a contract award, costs are held as amounts recoverable on contracts and form part of the accounting for the contract as a whole.

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.

Plant and machinery

-

at variable rates on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:

Raw materials, consumables and goods for resale - purchase cost on a first-in, first out basis

Work in progress and finished goods - cost of direct materials and labour plus attributable overheads based on a normal level of activity.

Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

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.

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.

Investments

Investments are held at cost less provision for diminution in value.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, 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 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 in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies and key source of estimation uncertainty

The following are the key sources of estimation uncertainty that the directors have assessed as being applicable to the entity and that have the most significant effect on the amounts recognised in the financial statements. It is deemed that there are no critical accounting judgements.

Fixed Assets

Accounting for fixed assets involves the use of estimates for (a) the useful live of the assets over which they are to be depreciated , and (b) the existence and any amount of impairment. Details of fixed assets can be found in note 8.

Fixed assets are depreciated using standard accounting policies based over the estimated useful lives. When the company estimates useful lives various factors are considered including expected technology obsolescence and the expected usage of the asset. The company regularly reviews these assets useful lives and future economic utilization and the physical condition of the assets concerned.

The carrying value of the assets is assessed periodically to determine whether there are any indications of any impairment of the value beyond the depreciation charge. If this is the case, an impairment charge is taken against the carrying value of the assets and charged to profit and loss account. The impairment of fixed assets require management judgement in determining the amounts to be impaired, in particular judgement is used when assessing the future cash flows.

Contract Income Receivable

Recognised as a debtor this is the calculated work in progress amount at the end of the accounting period which remains unbilled. The figure is calculated per contract based on internal mechanisms and calculations on a rolling basis.The carrying amount is historically accurate and the amount is usually billed shortly after the period end.

Monthly Cost Report (MCR) Accrual

The company recognises costs incurred but not yet invoiced at the reporting date based on information provided through Monthly Cost Reports (MCRs) prepared by project managers. These reports include an assessment of subcontractor work completed, materials used, and other project-related expenses that have not yet been billed or formally recorded in the accounting system.

Management exercises judgment in determining the appropriate level of accrual, considering the stage of completion of individual projects, subcontractor communications, site records, and historical invoicing patterns. The recognition of these accruals is critical to ensuring the accurate matching of costs to revenue under the percentage-of-completion method.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,228,445

2,081,377

Social security costs

251,900

229,523

Other pension costs

37,005

35,812

2,517,350

2,346,712

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

2025

2024

Production staff

17

19

Administrative staff

13

11

Professional staff

21

19

51

49

2025

2024

£

£

Directors' remuneration

473,002

412,200

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

Money purchase schemes

7

7

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

99,587

94,500

5.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

2025

2024

£

£

Other operating leases

116,244

108,979

Depreciation - owned assets

152,272

164,485

Depreciation - assets on hire purchase contracts

242,505

245,505

Loss on disposal of fixed assets

2,749

983

Auditors' remuneration

11,000

11,000

Auditors' remuneration for non audit work

10,250

10,088

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase

67,121

33,826

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

333,135

-

Deferred tax

26,975

(29,745

)

Tax on profit/(loss)

360,110

(29,745

)

Reconciliation of total tax charge/(credit) 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/(loss) before tax

1,363,830

(61,752

)

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

340,958

(15,438

)

Effects of:

Expenses not deductible for tax purposes

3,493

2,546

Capital allowances in excess of depreciation

(11,316

)

-

Depreciation in excess of capital allowances

-

14,086

Group relief

-

(16,853

)

Deferred tax on accelerated capital allowances

26,975

(14,086

)

Total tax charge/(credit)

360,110

(29,745

)

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2024

1,466,835

143,480

1,106,728

2,717,043

Additions

213,436

26,120

185,387

424,943

Disposals

-

-

(54,780

)

(54,780

)

At 30 June 2025

1,680,271

169,600

1,237,335

3,087,206

DEPRECIATION

At 1 July 2024

937,176

130,303

479,374

1,546,853

Charge for year

206,821

12,855

175,101

394,777

Eliminated on disposal

-

-

(38,068

)

(38,068

)

At 30 June 2025

1,143,997

143,158

616,407

1,903,562

NET BOOK VALUE

At 30 June 2025

536,274

26,442

620,928

1,183,644

At 30 June 2024

529,659

13,177

627,354

1,170,190

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2024

642,500

784,539

1,427,039

Additions

186,346

185,386

371,732

Transfer to ownership

(140,000

)

(331,728

)

(471,728

)

At 30 June 2025

688,846

638,197

1,327,043

DEPRECIATION

At 1 July 2024

220,508

252,142

472,650

Charge for year

131,541

110,964

242,505

Transfer to ownership

(78,133

)

(161,304

)

(239,437

)

At 30 June 2025

273,916

201,802

475,718

NET BOOK VALUE

At 30 June 2025

414,930

436,395

851,325

At 30 June 2024

421,992

532,397

954,389