REGISTERED NUMBER: 01806190 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

BERNHARD & CO. LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

S R Nixon

J J Bernhard

I U Hassan

A Crosnier

REGISTERED OFFICE:

11 Homefield Road

Haverhill

CB9 8QP

REGISTERED NUMBER:

01806190 (England and Wales)

AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham

B3 1SW

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

Sustaining Global Leadership in a Shifting Landscape

In the year under review, Bernhard & Co Limited has not only upheld its global leadership in sports turf technologies but has also successfully navigated a period of significant global transition. We have reaffirmed our commitment to delivering world-class grinding machines and turf care solutions to prestigious golf courses and sports facilities across the globe. While supply chain and staffing pressures have shown signs of easing, new challenges including US tariff threats, ongoing geopolitical instability, and foreign exchange volatility have emerged. Through it all, we have remained strategically agile, resolute in our focus, and dedicated to empowering our customers to achieve exceptional cutting precision with simplicity, efficiency, and accuracy.

Navigating New Market Complexities

Our products' international presence remains a core strength and a key focus. The easing of supply chain disruptions and workforce shortages has allowed us to make significant progress in reducing lead times and improving service levels. However, this recovery is now set against a backdrop of wider economic uncertainty and the potential for new trade barriers. The threat of additional US tariffs necessitates careful strategic planning for our key market, while the broader risk of global instability requires heightened vigilance. By proactively managing these complexities, we continue to make a substantial impact on raising the standards of golf courses and sports facilities worldwide.

Sustainability and Conservation as a Constant

Amidst a fluctuating economic climate, our dedication to sustainability and conservation remains a non-negotiable pillar of our operations. We continue to support and develop research and educational programmes, promoting environmentally responsible and sustainable practices within the turf industry. This commitment ensures the longevity and preservation of sports facilities worldwide, providing value that transcends short-term economic cycles.

Innovation as a Shield Against Volatility

Innovation remains central to our strategy, serving as our primary tool for mitigating external risks. Our strengthened team has worked diligently to advance our product portfolio, ensuring we stay at the forefront of technological advancements. This focus allows us to meet our customers' evolving needs and continue to provide comprehensive, high-value solutions, including advisory and installation services for surface air movement and moisture control systems, even in an uncertain global environment.

Principal Risks and Uncertainties

The principal risks and uncertainties facing the company are as follows:

- Foreign Exchange (Forex) Volatility and Trade Wars: Fluctuations in foreign exchange rates, potentially exacerbated by escalating trade wars, pose a significant risk to profitability. The company continues to mitigate this risk through a disciplined approach to forward exchange contracts and strategic financial planning.

- Geopolitical and Macroeconomic Instability: Global conflict, political unrest, and wider economic fragility continue to threaten stable shipping routes, energy prices, and overall production costs. This requires constant monitoring and agile supply chain management.

- US Tariff Threats: The potential for new and increased tariffs on goods imported into the United States presents a direct risk to cost structures and pricing in our most significant market. We are actively evaluating strategies, including potential supply chain adjustments and cost optimisation programmes, to mitigate this impact.

- Supply Chain Resilience: While issues have eased, the global supply chain remains susceptible to shocks. We continue to focus on diversifying our supplier base and proactively sourcing critical components to build resilience against future disruptions.

Key Performance Indicators (KPIs)

The Board monitors the company's progress using the following KPIs:

- Turnover: We aim to continually grow revenue by leveraging our reputation for quality, navigating tariff-related challenges, and expanding our customer base in both new and existing markets.

- Gross Profit Margin: Protecting our margin is a key priority in the face of inflationary pressures and potential tariff costs. We will continue to seek improvements by optimising efficiencies, managing costs effectively, and implementing strategic pricing measures.

- Lead Times: We have made excellent progress in reducing lead times as supply chain and labour issues have eased. Our focus remains on sustaining these improvements and building a more robust and responsive production operation to guard against future volatility.

Looking ahead with Cautious Optimism

As we move forward, Bernhard & Co Limited remains committed to prioritising customer satisfaction, innovation, and sustainability. We will navigate the evolving challenges of trade policy, forex impacts, and economic uncertainty with strategic foresight. Our dedication to excellence and agility will guide our efforts, ensuring we continue to deliver unparalleled value and service to our customers and stakeholders across the globe.

Gratitude and Resolve for the Future

In closing, we express our heartfelt gratitude to our dedicated team, loyal customers, and stakeholders for their incredible support and resilience. The lessons of recent years have made us a stronger, more agile company. We look forward to a future where our collective resolve ensures continued growth, success, and shared prosperity. Together, we are poised for another year of strategic progress and achievement.

ON BEHALF OF THE BOARD:

S R Nixon - Director

27 November 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 the manufacture and sale of horticultural equipment.

DIVIDENDS

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

DIRECTORS

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

S R Nixon

J J Bernhard

I U Hassan

A Crosnier

Other changes in directors holding office are as follows:

S G Bernhard ceased to be a director after 30 June 2025 but prior to the date of this report.

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.

AUDITORS

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

ON BEHALF OF THE BOARD:

S R Nixon - Director

27 November 2025

Opinion

We have audited the financial statements of Bernhard & Co. 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 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:

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 commercial knowledge and experience of the industry sector;

- 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, anti-bribery, employment, environmental 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;

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 relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates 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;

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

- reviewing correspondence with HMRC and other relevant parties.

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.

Morgan Davies FCA (Senior Statutory Auditor)

for and on behalf of Prime

Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham

B3 1SW

5 December 2025

TURNOVER

15,940,408

13,104,922

Cost of sales

9,503,224

7,861,036

GROSS PROFIT

6,437,184

5,243,886

Distribution costs

1,771,569

1,689,939

Administrative expenses

2,957,462

2,451,586

4,729,031

4,141,525

1,708,153

1,102,361

Other operating income

15,034

1,751

OPERATING PROFIT

4

1,723,187

1,104,112

Profit on sale of investment

5

-

58,428

1,723,187

1,162,540

Interest payable and similar expenses

6

101,782

121,476

Other finance costs

21

2,000

9,000

103,782

130,476

PROFIT BEFORE TAXATION

1,619,405

1,032,064

Tax on profit

7

445,434

451,210

PROFIT FOR THE FINANCIAL YEAR

1,173,971

580,854

PROFIT FOR THE YEAR

1,173,971

580,854

OTHER COMPREHENSIVE INCOME

Actuarial gain/loss on pension liability

(52,000

)

64,000

Movement on deferred tax relating

to pension asset/liability

13,000

(18,000

)

Excess depreciation on freehold property

(3,930

)

(3,930

)

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(42,930

)

42,070

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,131,041

622,924

FIXED ASSETS

Intangible assets

9

914,423

705,818

Tangible assets

10

2,032,785

2,437,343

2,947,208

3,143,161

CURRENT ASSETS

Stocks

11

2,923,471

3,289,134

Debtors

12

2,871,317

1,884,674

Cash at bank and in hand

835,558

2,484

6,630,346

5,176,292

CREDITORS

Amounts falling due within one year

13

2,416,691

2,178,939

NET CURRENT ASSETS

4,213,655

2,997,353

TOTAL ASSETS LESS CURRENT LIABILITIES

7,160,863

6,140,514

CREDITORS

Amounts falling due after more than one year

14

(918,572

)

(954,347

)

PROVISIONS FOR LIABILITIES

18

(178,277

)

(217,194

)

PENSION LIABILITY

21

(39,000

)

(75,000

)

NET ASSETS

6,025,014

4,893,973

CAPITAL AND RESERVES

Called up share capital

19

100

100

Revaluation reserve

20

381,191

385,121

Retained earnings

20

5,643,723

4,508,752

SHAREHOLDERS' FUNDS

6,025,014

4,893,973

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2025 and were signed on its behalf by:

S R Nixon - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 July 2023

100

4,301,247

389,051

4,690,398

Changes in equity

Total comprehensive income

-

626,854

(3,930

)

622,924

Dividends

-

(419,349

)

-

(419,349

)

Balance at 30 June 2024

100

4,508,752

385,121

4,893,973

Changes in equity

Total comprehensive income

-

1,134,971

(3,930

)

1,131,041

Balance at 30 June 2025

100

5,643,723

381,191

6,025,014

1.	STATUTORY INFORMATION

Bernhard & Co. 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 as modified by the revaluation of certain assets.

Going concern

The company continues to be profitable and the directors have a reasonable expectation that the company will continue in operational existence for at least 12 months form the date of approval of the financial statements. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision effects both current and future periods.

In preparing these financial statements, the directors have made the following judgements:

During the year, the company capitalised development costs. These development costs relate to product innovation, and the criteria for capitalisation under FRS 102 Section 18 have been met. The directors have reviewed the carrying amount of capitalised development costs as of the reporting date and confirm that no impairment has been identified.

A stock provision was recognised during the year to cover slow-moving and obsolete stock. The provision was determined based on an assessment of the recoverable amount of inventories in light of current market conditions and historical sales data. The directors have reviewed the carrying amount of inventory at the reporting date and confirm that the provision is adequate to cover expected losses on inventory.

The company recognised a net defined benefit pension liability on the balance sheet. The obligation was calculated based on an actuarial valuation, applying the projected unit credit method in compliance with FRS 102 Section 28. The directors have reviewed the assumptions used in the actuarial valuation, which were determined to be appropriate for the company's circumstances.

The company has recognised a warranty provision in respect of products sold with warranty coverage. The provision is based on the company's past experience with warranty claims, expected future claims, and recent trends in claim frequency and cost. The directors have reviewed the warranty provision at the reporting date and believe it is sufficient to cover future warranty obligations based on current information.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Development costs are being amortised evenly over their estimated useful life of seven years.

Tangible fixed assets

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

Freehold property

-

1% on cost

Plant and machinery

-

33.33% on cost

Fixtures and fittings

-

33.33% on cost

Motor vehicles

-

33.33% on cost

Other assets

-

Straight line over 30 years

Stocks

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

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Research and development

General research expenditure is written off in the year in which it is incurred.

Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. It is amortised over seven years.

Foreign currencies

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

Pension costs and other post-retirement benefits

For defined contribution schemes the amount charged in the profit and loss account in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

For Schemes regarded as defined benefit schemes, the amounts charged in the profit and loss account are the contributions payable in respect of the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

The Schemes regarded as defined benefit schemes are funded, with the assets of the scheme held separately from those of the company, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained annually.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,534,693

2,336,106

Social security costs

175,395

146,762

Other pension costs

118,096

110,692

2,828,184

2,593,560

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

2025

2024

Employees

61

58

2025

2024

£

£

Directors' remuneration

216,835

218,049

Directors' pension contributions to money purchase schemes

43,787

68,133

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

131,072

119,520

Pension contributions to money purchase schemes

37,723

33,583

4.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

124,983

85,132

Profit on disposal of fixed assets

(11,198

)

(2,620

)

Patents and licences amortisation

63,299

-

Development costs amortisation

267,901

217,908

Auditors' remuneration

29,000

22,750

Foreign exchange differences

115,320

(6,297

)

5.	EXCEPTIONAL ITEMS

2025

2024

£

£

Profit on sale of investment

-

58,428

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

101,501

121,476

Corporation tax interest

281

-

101,782

121,476

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

523,281

316,813

Under/(Over) provision in

prior year

(6,442

)

100,283

Total current tax

516,839

417,096

Deferred tax

(71,405

)

34,114

Tax on profit

445,434

451,210

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

1,619,405

1,032,064

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

404,851

258,016

Effects of:

Expenses not deductible for tax purposes

114,567

85,365

Capital allowances in excess of depreciation

-

(11,306

)

Depreciation in excess of capital allowances

6,663

-

Adjustments to tax charge in respect of previous periods

(6,442

)

100,283

Profit on disposal

(2,800

)

(15,262

)

Deferred tax movement

(71,405

)

34,114

Total tax charge

445,434

451,210

Tax effects relating to effects of other comprehensive income

2025

Gross

Tax

Net

£

£

£

Actuarial gain/loss on pension liability

(52,000

)

-

(52,000

)

Movement on deferred tax relating

to pension asset/liability

13,000

-

13,000

Excess depreciation on freehold property

(3,930

)

-

(3,930

)

(42,930

)

-

(42,930

)

2024

Gross

Tax

Net

£

£

£

Actuarial gain/loss on pension liability

64,000

-

64,000

Movement on deferred tax relating

to pension asset/liability

(18,000

)

-

(18,000

)

Excess depreciation on freehold property

(3,930

)

-

(3,930

)

42,070

-

42,070

8.

DIVIDENDS

2025

2024

£

£

A Ordinary shares of 0.0001 each

Interim

-

419,349

9.	INTANGIBLE FIXED ASSETS

Patents

and

Development

licences

costs

Totals

£

£

£

COST

At 1 July 2024

-

1,525,364

1,525,364

Additions

189,915

349,890

539,805

At 30 June 2025

189,915

1,875,254

2,065,169

AMORTISATION

At 1 July 2024

-

819,546

819,546

Amortisation for year

63,299

267,901

331,200

At 30 June 2025

63,299

1,087,447

1,150,746

NET BOOK VALUE

At 30 June 2025

126,616

787,807

914,423

At 30 June 2024

-

705,818

705,818