REGISTERED NUMBER: SC312487 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements For The Year Ended 30 November 2024

for

Andrew Strain Construction Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

DIRECTORS:

A C Strain

C Eason

P Duffy

REGISTERED OFFICE:

Blackfaulds House

Drumhead Place

Glasgow East Investment Park

Glasgow

G32 8EY

REGISTERED NUMBER:

SC312487 (Scotland)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

The directors present their strategic report for the year ended 30 November 2024.

REVIEW OF BUSINESS

The director aims to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties faced.

The business has seen a period of continued growth in the year despite rising global costs, cost of living crisis and a challenging marketplace. The company has continued to grow its turnover with an annual increase of with turnover increasing by 28%. A strong management team, effective cost control, expansion into new sectors and ongoing development of staff have all contributed towards the continued growth of the company.

The Statement of Financial Position on page 9 of the financial statements shows that the company's net assets have also improved over the previous year. Net assets have increased by 24% to £3,616,439 (2023: £2,906,315).

The company's directors aim to continue to develop, expand and grow the business over the coming year with continued investment in IT and it's staff to facilitate expected future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The company takes all necessary measures to identify and manage risks to the business.

The principal risks and uncertainties affecting the business include the following:

Contract risk: the company conducts a significant element of its business under customer contracts. The main perceived risk in year ahead will be the impact of substantial price increases, particularly in relation to materials and fuel. The situation is being closely monitored and with robust tendering procedures and effective operational management the directors are confident that any negative effects will be minimised.

Health and safety: health and safety risks are continually assessed by management and we constantly look to ensure that we provide a safe working environment for all.

Commercial relationships: the Company maintains strong relationships with its key customers, with appropriate credit terms agreed and closely managed. The business also maintains a credit insurance policy covering credit lines in the event of default.

DEVELOPMENT AND PERFORMANCE

The company continues to focus on its core business of groundworks and since the year end has continued to be successful in winning significant levels of new work. The company has diversified into the corporate sector in the year and continues to develop within this sector. The social housing sector remains a key source of income for the company. The directors continue to monitor and manage the market conditions to ensure the company remains proactive to change.

KEY PERFORMANCE INDICATORS

Key performance measures reviewed by the director and senior management team include; turnover, operating profit and net profit.

ON BEHALF OF THE BOARD:

A C Strain - Director

4 December 2025

The directors present their report with the financial statements of the company for the year ended 30 November 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of undertaking of groundwork contracts within the construction industry.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £2,400.00 per share.

The total distribution of dividends for the year ended 30 November 2024 will be £ 240,000 .

DIRECTORS

A C Strain has held office during the whole of the period from 1 December 2023 to the date of this report.

Other changes in directors holding office are as follows:

C Eason - appointed 16 January 2024

P Duffy - appointed 16 January 2024

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:

A C Strain - Director

4 December 2025

Opinion

We have audited the financial statements of Andrew Strain Construction Limited (the 'company') for the year ended 30 November 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 November 2024 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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- 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 identified the laws and regulations applicable to the company through discussions with directors and other management, and from our wider knowledge and experience;

- 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 and FRS 102 (Section 1A).

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

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, including banking controls, to mitigate risks of fraud and non-compliance with laws and regulations

Audit response to risks identified

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

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and

- Investigated the rationale behind significant or unusual transactions.

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;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual and potential litigation and claims; and

- Reviewing correspondence with HMRC, Companies House and the company's legal advisors.

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 directors 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.

Graham Cantlay (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

4 December 2025

TURNOVER

33,359,095

26,059,847

Cost of sales

28,949,430

22,189,288

GROSS PROFIT

4,409,665

3,870,559

Administrative expenses

3,506,305

2,486,126

903,360

1,384,433

Other operating income

120,222

-

OPERATING PROFIT

4

1,023,582

1,384,433

Interest receivable and similar income

10,959

-

1,034,541

1,384,433

Interest payable and similar expenses

5

31,537

36,539

PROFIT BEFORE TAXATION

1,003,004

1,347,894

Tax on profit

6

52,880

191,106

PROFIT FOR THE FINANCIAL YEAR

950,124

1,156,788

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

950,124

1,156,788

FIXED ASSETS

Tangible assets

9

656,993

790,916

CURRENT ASSETS

Debtors

10

5,648,517

5,202,359

Cash at bank

2,460,554

1,513,224

8,109,071

6,715,583

CREDITORS

Amounts falling due within one year

11

4,790,510

4,087,207

NET CURRENT ASSETS

3,318,561

2,628,376

TOTAL ASSETS LESS CURRENT LIABILITIES

3,975,554

3,419,292

CREDITORS

Amounts falling due after more than one year

12

(205,221

)

(329,054

)

PROVISIONS FOR LIABILITIES

16

(153,894

)

(183,923

)

NET ASSETS

3,616,439

2,906,315

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

3,616,339

2,906,215

SHAREHOLDERS' FUNDS

3,616,439

2,906,315

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

A C Strain - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2022

100

1,894,427

1,894,527

Changes in equity

Dividends

-

(145,000

)

(145,000

)

Total comprehensive income

-

1,156,788

1,156,788

Balance at 30 November 2023

100

2,906,215

2,906,315

Changes in equity

Dividends

-

(240,000

)

(240,000

)

Total comprehensive income

-

950,124

950,124

Balance at 30 November 2024

100

3,616,339

3,616,439

Cash flows from operating activities

Cash generated from operations

1

1,561,934

1,760,927

Interest paid

(12,953

)

(18,635

)

Interest element of hire purchase payments paid

(18,584

)

(17,904

)

Tax paid

(46,990

)

113,850

Net cash from operating activities

1,483,407

1,838,238

Cash flows from investing activities

Purchase of tangible fixed assets

(85,074

)

(191,221

)

Interest received

10,959

-

Net cash from investing activities

(74,115

)

(191,221

)

Cash flows from financing activities

New loans in year

50,489

-

Loan repayments in year

-

(55,238

)

Capital repayments in year

(72,225

)

(65,944

)

Amount withdrawn by directors

(259,623

)

(15,778

)

Equity dividends paid

(240,000

)

(145,000

)

Net cash from financing activities

(521,359

)

(281,960

)

Increase in cash and cash equivalents

887,933

1,365,057

Cash and cash equivalents at beginning of year

2

1,513,224

148,167

Cash and cash equivalents at end of year

2

2,401,157

1,513,224

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

2024

2023

£

£

Profit before taxation

1,003,004

1,347,894

Depreciation charges

218,997

259,035

Finance costs

31,537

36,539

Finance income

(10,959

)

-

1,242,579

1,643,468

(Increase)/decrease in trade and other debtors

(334,993

)

898,111

Increase/(decrease) in trade and other creditors

654,348

(780,652

)

Cash generated from operations

1,561,934

1,760,927

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 November 2024

30.11.24

1.12.23

£

£

Cash and cash equivalents

2,460,554

1,513,224

Bank overdrafts

(59,397

)

-

2,401,157

1,513,224

Year ended 30 November 2023

30.11.23

1.12.22

£

£

Cash and cash equivalents

1,513,224

148,167

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.23

Cash flow

At 30.11.24

£

£

£

Net cash

Cash at bank and in hand

1,513,224

947,330

2,460,554

Bank overdrafts

-

(59,397

)

(59,397

)

1,513,224

887,933

2,401,157

Debt

Finance leases

(322,602

)

72,225

(250,377

)

Debts falling due within 1 year

(49,716

)

(4

)

(49,720

)

Debts falling due after 1 year

(124,307

)

49,727

(74,580

)

(496,625

)

121,948

(374,677

)

Total

1,016,599

1,009,881

2,026,480

1.	STATUTORY INFORMATION

Andrew Strain Construction Limited is a private company, limited by shares , registered in Scotland. 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.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities reported at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Revenue on long term contracts for services is recognised according to the stage of completion reached on the contract by measuring a proportion of costs incurred for work performed to total estimated costs. Estimating the costs to completion and therefore the total contract costs is a key judgement in respect of revenue recognition on these contracts. Management bases their judgements of revenue and the assessment of the expected outcome of each contract on the latest information available. This includes contract valuations, and forecast costs to complete. The estimates of the contract positions and the profit or loss earned to date is updated regularly and the impact of any change in the accounting estimates are reflected in the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the income statement turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.

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.

Short leasehold

-

Straight line over 7 years

Fixed plant and equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

5,543,159

2,935,349

Social security costs

565,732

298,523

Other pension costs

211,132

102,619

6,320,023

3,336,491

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

2024

2023

Staff

128

75

2024

2023

£

£

Directors' remuneration

183,488

12,570

Directors' pension contributions to money purchase schemes

86,158

48,867

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Hire of plant and machinery

3,686,114

2,151,387

Depreciation - owned assets

144,441

174,982

Depreciation - assets on hire purchase contracts

74,556

84,053

Auditors' remuneration

18,075

14,950

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

8

4,537

Bank loan interest

12,945

14,098

Hire purchase

18,584

17,904

31,537

36,539

6.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

82,909

222,617

Deferred tax

(30,029

)

(31,511

)

Tax on profit

52,880

191,106

UK corporation tax has been charged at 25% (2023 - 23%).

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:

2024

2023

£

£

Profit before tax

1,003,004

1,347,894

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23%)

250,751

310,016

Effects of:

Expenses not deductible for tax purposes

30,006

11,572

Depreciation in excess of capital allowances

33,481

15,488

R&D tax claim

(231,329

)

(114,460

)

Deferred tax

(30,029

)

(31,510

)

Total tax charge

52,880

191,106

7.

DIVIDENDS

2024

2023

£

£

Ordinary shares shares of £1 each

Final

240,000

145,000

8.	PRIOR PERIOD RECLASSIFICATION

During the year, consultancy costs were reallocated from Administrative expenses to Cost of sales. The prior year has been restated to reflect these changes and results in the below impact upon the Statement of Comprehensive Income:

Administrative expenses

£377,319

Cost of sales

(£377,319

)

9.	TANGIBLE FIXED ASSETS

Fixed

Fixtures

Short

plant and

and

leasehold

equipment

fittings

£

£

£

COST

At 1 December 2023

96,646

1,438,487

25,681

Additions

-

-

-

At 30 November 2024

96,646

1,438,487

25,681

DEPRECIATION

At 1 December 2023

41,420

827,570

14,688

Charge for year

13,806

152,729

2,748

At 30 November 2024

55,226

980,299

17,436

NET BOOK VALUE

At 30 November 2024

41,420

458,188

8,245

At 30 November 2023

55,226

610,917

10,993

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2023

166,566

75,034

1,802,414

Additions

49,458

35,616

85,074

At 30 November 2024

216,024

110,650

1,887,488

DEPRECIATION

At 1 December 2023

86,918

40,902

1,011,498

Charge for year

32,277

17,437

218,997

At 30 November 2024

119,195

58,339

1,230,495

NET BOOK VALUE

At 30 November 2024

96,829

52,311

656,993

At 30 November 2023

79,648

34,132

790,916