REGISTERED NUMBER: 02473091 (England and Wales)

Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 March 2025

for

M C Stennett & Sons Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

7

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

to

19

DIRECTORS:

Mr M C Stennett

Mrs G M Stennett

Mr C Stennett

SECRETARY:

Mrs G M Stennett

REGISTERED OFFICE:

The Coach House

Park Farm

Fornham St Genevieve

Bury St Edmunds

Suffolk

IP28 6TS

REGISTERED NUMBER:

02473091 (England and Wales)

SENIOR STATUTORY AUDITOR:

James Knights ACA BSc

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

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

PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS

The principal activities of the company during the year were those of road haulage, storage and allied support services.

The directors are satisfied with both the trading performance of the company during the year to 31st March 2025 and the financial position as at that date.

The company's gross profit shows a gross profit margin of 13.4% (2024: 11.5%).

The company has remained profitable, and it has achieved a post-tax return on capital employed of 7.8% (2024:3.5%) which the directors consider is satisfactory in difficult market conditions.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's financial and commercial risks are kept under regular review by the directors and senior management. Policies are in place to ensure such risks are minimised primarily through safe working practices, regular risk assessments and the maintenance and regular review of commercial insurance cover.

FUTURE DEVELOPMENTS

The directors aim to continue the trend to growth, in particular growing the company's capital value and where appropriate, extending and rationalising investments consistent with overall business objectives.

ON BEHALF OF THE BOARD:

Director

3 December 2025

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

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of road haulage, storage and allied support services.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 40,000 .

DIRECTORS

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

Mr M C Stennett

Mrs G M Stennett

Mr C Stennett

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

Mr C Stennett - Director

3 December 2025

Opinion

We have audited the financial statements of M C Stennett & Sons Limited (the 'company') for the year ended 31 March 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 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatement in respect of irregularities, including fraud. 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 the director and other management, and from our commercial knowledge and experience of the companies operating 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, 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; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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;

- 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 the accounting estimates were indicative of potential bias;

- 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;

- reviewing correspondence with HMRC, relevant regulators including the Environment Agency 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.

James Knights ACA BSc (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

4 December 2025

TURNOVER

6,756,278

6,782,703

Cost of sales

5,850,878

6,002,949

GROSS PROFIT

905,400

779,754

Administrative expenses

560,241

644,045

345,159

135,709

Other operating income

20,123

14,911

OPERATING PROFIT

5

365,282

150,620

Interest receivable and similar income

53,415

49,146

418,697

199,766

Interest payable and similar expenses

6

21,792

19,954

PROFIT BEFORE TAXATION

396,905

179,812

Tax on profit

7

98,579

56,887

PROFIT FOR THE FINANCIAL YEAR

298,326

122,925

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

298,326

122,925

FIXED ASSETS

Tangible assets

9

2,622,853

2,438,744

CURRENT ASSETS

Stocks

10

82,589

125,209

Debtors

11

2,234,482

2,245,496

Cash at bank and in hand

459,279

436,939

2,776,350

2,807,644

CREDITORS

Amounts falling due within one year

12

964,945

995,750

NET CURRENT ASSETS

1,811,405

1,811,894

TOTAL ASSETS LESS CURRENT LIABILITIES

4,434,258

4,250,638

CREDITORS

Amounts falling due after more than one year

13

-

(129,598

)

PROVISIONS FOR LIABILITIES

16

(632,956

)

(578,064

)

NET ASSETS

3,801,302

3,542,976

CAPITAL AND RESERVES

Called up share capital

17

1,000

1,000

Share premium

18

208,072

208,072

Retained earnings

18

3,592,230

3,333,904

SHAREHOLDERS' FUNDS

3,801,302

3,542,976

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

Mr M C Stennett - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

1,000

3,250,979

208,072

3,460,051

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

122,925

-

122,925

Balance at 31 March 2024

1,000

3,333,904

208,072

3,542,976

Changes in equity

Dividends

-

(40,000

)

-

(40,000

)

Total comprehensive income

-

298,326

-

298,326

Balance at 31 March 2025

1,000

3,592,230

208,072

3,801,302

1.	STATUTORY INFORMATION

M C Stennett & Sons 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 3.17(d);

•

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

•

the requirement of paragraph 33.7.

Significant judgements and estimates

In the application of the Company's accounting policies, which are described below, 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 estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised if 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 and key sources of estimation uncertainty in applying the Company's accounting policies

The following are critical judgements including those involving estimations, that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Depreciation of tangible fixed assets

Tangible fixed assets are recognised at cost and depreciated on the basis appropriate to charge to the profit and loss the economic consumption of those assets during the accounting period. The charge is calculated as described below and is based on the directors knowledge of the reduction in the residual value of tractor units and trailers on average over the investment cycle of each class of asset. The rates of depreciation are kept under review such that assets are written down to residual value at the end of the economic lives of the assets.

Turnover and revenue recognition

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

Haulage income is recognised upon completion of the underlying work. Work in progress at the accounting date is insignificant and no allowance is made.

Storage income is recognised in accordance with the terms of the underlying contracts. Where contracts straddle the accounting date income is neither accrued nor deferred unless the amounts are material in relation to total storage income. Where amounts are material, income is accrued or deferred so as to recognise revenue on a constant basis over the contract period.

Tangible fixed assets

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

Leasehold improvements

- 10 - 25% on cost

Plant and machinery

- 25% on cost, or 25% on reducing balance

Motor vehicles

- 20 - 25% on reducing balance

Depreciation charged to the profit and loss account is analysed between that applying to revenue producing assets, where the charge is shown under cost of sales and support assets the depreciation on which is charged to administrative overheads.

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 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 and depreciated over their estimated useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The pension costs charged in the financial statements represent the contributions payable by the company during the year.

Contributions have commenced to an employees defined contribution scheme. The assets of the scheme are held and administered independently from those of the company.

Financial instruments

Financial assets and financial liabilities are recognised in accordance with FRS 102 Section 1A when the company becomes a party to the contractual provisions of the instrument.

Currently all financial liabilities are basic financial instruments as defined by section 11 of FRS 102 which are recognised at amortised cost.

Where relevant, derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit or loss account.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,423,112

2,431,971

Social security costs

243,950

251,751

Other pension costs

44,291

43,441

2,711,353

2,727,163

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

2025

2024

Transport, storage and support services

43

40

Management and administration

9

12

52

52

2025

2024

£

£

Directors' remuneration

16,272

16,905

Directors' pension contributions to money purchase schemes

301

310

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

Money purchase schemes

1

1

5.	OPERATING PROFIT

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

2025

2024

£

£

Operating lease rentals - plant and machinery

196

654

Operating lease income

(7,053

)

(14,911

)

Depreciation - owned assets

453,876

410,769

Depreciation - assets on hire purchase contracts

161,367

242,293

Loss on disposal of fixed assets

7,085

16,659

Auditor's remuneration

17,500

17,000

Other non- audit services

19,902

11,810

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank charges

2,009

319

Hire purchase interest

19,783

19,635

21,792

19,954

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

43,687

-

Deferred tax

54,892

56,887

Tax on profit

98,579

56,887

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

396,905

179,812

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

99,226

44,953

Effects of:

Expenses not deductible for tax purposes

3

(1,383

)

Capital allowances in excess of depreciation

(55,542

)

-

Depreciation in excess of capital allowances

-

5,140

Deferred tax charge

54,892

56,887

Losses utilised

-

(48,710

)

Total tax charge

98,579

56,887

8.

DIVIDENDS

2025

2024

£

£

Interim

40,000

40,000

9.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

801,371

590,777

5,820,366

7,212,514

Additions

159,385

-

669,552

828,937

Disposals

-

(1,500

)

(315,450

)

(316,950

)

At 31 March 2025

960,756

589,277

6,174,468

7,724,501

DEPRECIATION

At 1 April 2024

790,869

506,780

3,476,121

4,773,770

Charge for year

12,208

27,334

575,701

615,243

Eliminated on disposal

-

(1,500

)

(285,865

)

(287,365

)

At 31 March 2025

803,077

532,614

3,765,957

5,101,648

NET BOOK VALUE

At 31 March 2025

157,679

56,663

2,408,511

2,622,853

At 31 March 2024

10,502

83,997

2,344,245

2,438,744

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

Motor

vehicles

£

COST

At 1 April 2024

1,149,385

Transfer to ownership

(356,915

)

At 31 March 2025

792,470

DEPRECIATION

At 1 April 2024

366,286

Charge for year

161,367

Transfer to ownership

(186,711

)

At 31 March 2025

340,942

NET BOOK VALUE

At 31 March 2025

451,528

At 31 March 2024

783,099

10.

STOCKS

2025

2024

£

£

Stocks - Fuel and spares

82,589

125,209

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

891,899

961,111

Amounts owed by group undertakings

1,254,136

1,206,280

Amounts owed by participating interests

11,390

155

Other debtors

1,883

4,833

Prepayments and accrued income

75,174

73,117

2,234,482

2,245,496

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 14)

129,598

248,485

Trade creditors

403,120

323,159

Amounts owed to group undertakings

-

3,381

Corporation tax

43,687

-

Social security and other tax

180,645

241,941

Other creditors

45,638

78,484

Employers and employees pension contributions

8,926

8,850

Accruals and deferred income

153,331

91,450

964,945

995,750

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 14)

-

129,598

14.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

129,598

248,485

Between one and five years

-

129,598

129,598

378,083

15.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

129,598

378,083

Finance lease and hire purchase creditors are secured on the underlying tangible fixed assets.

Bank borrowings are secured by a director's personal guarantee of £175,000.

16.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

632,956

578,064