REGISTERED NUMBER: 12816481 (England and Wales)

LINCOLNSHIRE HORTICULTURE LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

G W Elkington

Mrs K B E Elkington

W M J Dean

REGISTERED OFFICE:

Newton Lane

Ruskington

Sleaford

Lincolnshire

NG34 9EB

REGISTERED NUMBER:

12816481 (England and Wales)

SENIOR STATUTORY AUDITOR:

Theo Banos BA FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the non-complex nature of our business.

Review of the business

The group's principal activity is the operation of garden centres. We consider that our key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, these being turnover, gross profit and profit before tax, as shown on the Statement of Comprehensive Income.

Turnover has increased 7.9% (2024 - 8.7%) from the previous year. The group continues to be profitable and the balance sheet remains strong with net assets of £11,113,751 (2024 - £9,874,182).

In view of the straight forward nature of the business, we do not consider that any more detailed financial analysis is necessary for an understanding of the development, performance and position of the group.

Overall, the directors are pleased with the performance in the year.

Principal risks and uncertainties

As for many of our customers and competitors, the business environment in which we operate continues to be challenging due to a number of market conditions. Although the cost of living crisis does not pose a significant risk to the group, it may impact upon both the supply chain and the wider health of the economy, reducing consumer spending.

We believe the group is able to continue to meet the challenges within the current environment due to its well established business operations and strong reputation.

ON BEHALF OF THE BOARD:

Mrs K B E Elkington - Director

4 December 2025

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

DIVIDENDS

An interim dividend of £40 per share was paid on 20 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 4,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report.

G W Elkington

Mrs K B E Elkington

W M J Dean

It is with great sadness the directors report the death of Mr Stephen Elkington on 30 April 2025.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

Mrs K B E Elkington - Director

4 December 2025

Opinion

We have audited the financial statements of Lincolnshire Horticulture Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with directors and other management obtained as part of the work required by auditing standards. We have also discussed with the directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit. The potential impact of different laws and regulations varies considerably.

Firstly, the group is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase reported profitability and management bias in accounting estimates and judgemental areas of the financial statements such as depreciation policies. Audit procedures performed by the engagement team included the identification and testing of unusual material journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods and data used by management to make those estimates, reperforming the calculation and reviewing the outcome of prior year estimates.

Secondly, the group is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection. This inspection included an assessment of the company's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Theo Banos BA FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

4 December 2025

TURNOVER

7,575,758

7,022,368

Cost of sales

3,300,254

3,073,643

GROSS PROFIT

4,275,504

3,948,725

Administrative expenses

2,875,759

2,579,543

1,399,745

1,369,182

Other operating income

106,019

111,799

OPERATING PROFIT

4

1,505,764

1,480,981

Interest receivable and similar income

193,718

180,078

1,699,482

1,661,059

Interest payable and similar expenses

5

4,024

1,216

PROFIT BEFORE TAXATION

1,695,458

1,659,843

Tax on profit

6

451,888

374,830

PROFIT FOR THE FINANCIAL YEAR

1,243,570

1,285,013

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,243,570

1,285,013

Profit attributable to:

Owners of the parent

1,243,570

1,285,013

Total comprehensive income attributable to:

Owners of the parent

1,243,570

1,285,013

FIXED ASSETS

Tangible assets

9

3,747,788

3,974,631

Investments

10

-

-

3,747,788

3,974,631

CURRENT ASSETS

Stocks

11

898,119

887,874

Debtors

12

33,126

50,110

Cash at bank and in hand

7,405,067

5,813,539

8,336,312

6,751,523

CREDITORS

Amounts falling due within one year

13

920,348

784,372

NET CURRENT ASSETS

7,415,964

5,967,151

TOTAL ASSETS LESS CURRENT LIABILITIES

11,163,752

9,941,782

PROVISIONS FOR LIABILITIES

14

50,000

67,600

NET ASSETS

11,113,752

9,874,182

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

16

11,113,652

9,874,082

SHAREHOLDERS' FUNDS

11,113,752

9,874,182

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:

Mrs K B E Elkington - Director

FIXED ASSETS

Tangible assets

9

-

-

Investments

10

100

100

100

100

CURRENT ASSETS

Debtors

12

-

4,000

Cash at bank

5,831,538

3,700,559

5,831,538

3,704,559

CREDITORS

Amounts falling due within one year

13

1,040,372

30,493

NET CURRENT ASSETS

4,791,166

3,674,066

TOTAL ASSETS LESS CURRENT LIABILITIES

4,791,266

3,674,166

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

16

4,791,166

3,674,066

SHAREHOLDERS' FUNDS

4,791,266

3,674,166

Company's profit for the financial year

1,121,099

1,191,447

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:

Mrs K B E Elkington - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

8,585,069

8,585,169

Changes in equity

Dividends

-

4,000

4,000

Total comprehensive income

-

1,285,013

1,285,013

Balance at 31 March 2024

100

9,874,082

9,874,182

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

1,243,570

1,243,570

Balance at 31 March 2025

100

11,113,652

11,113,752

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

2,478,619

2,478,719

Changes in equity

Dividends

-

4,000

4,000

Total comprehensive income

-

1,191,447

1,191,447

Balance at 31 March 2024

100

3,674,066

3,674,166

Changes in equity

Dividends

-

(4,000

)

(4,000

)

Total comprehensive income

-

1,121,099

1,121,099

Balance at 31 March 2025

100

4,791,165

4,791,265

Cash flows from operating activities

Cash generated from operations

1

1,837,908

1,890,723

Interest paid

(4,024

)

(1,216

)

Tax paid

(409,016

)

(272,397

)

Net cash from operating activities

1,424,868

1,617,110

Cash flows from investing activities

Purchase of tangible fixed assets

(27,058

)

(316,396

)

Sale of tangible fixed assets

-

23,833

Interest received

193,718

180,078

Net cash from investing activities

166,660

(112,485

)

Cash flows from financing activities

Amount introduced by directors

4,000

-

Amount withdrawn by directors

-

(8,000

)

Equity dividends paid

(4,000

)

4,000

Net cash from financing activities

-

(4,000

)

Increase in cash and cash equivalents

1,591,528

1,500,625

Cash and cash equivalents at beginning of year

2

5,813,539

4,312,914

Cash and cash equivalents at end of year

2

7,405,067

5,813,539

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

2025

2024

£

£

Profit before taxation

1,695,458

1,659,843

Depreciation charges

252,917

271,933

Loss/(profit) on disposal of fixed assets

984

(5,767

)

Finance costs

4,024

1,216

Finance income

(193,718

)

(180,078

)

1,759,665

1,747,147

(Increase)/decrease in stocks

(10,245

)

50,352

Decrease in trade and other debtors

16,984

5,698

Increase in trade and other creditors

71,504

87,526

Cash generated from operations

1,837,908

1,890,723

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

7,405,067

5,813,539

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

5,813,539

4,312,914

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

5,813,539

1,591,528

7,405,067

5,813,539

1,591,528

7,405,067

Total

5,813,539

1,591,528

7,405,067

1.	STATUTORY INFORMATION

Lincolnshire Horticulture Limited is a private limited company incorporated in England and Wales. The address of the registered office is given on the company information page and the nature of the company's operations and principal activities are detailed in the strategic report.

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.

Basis of consolidation

The group financial statements consolidate the financial statements of Lincolnshire Horticulture Limited and its subsidiary undertakings drawn up to 31 March 2025. The parent company has taken advantage of section 408 of the Companies House Act 2006 and has not included its own Profit and Loss Account in these financial statements.

Business combinations

Acquisitions of subsidiaries and businesses are accounted for using the merger accounting method. With the merger accounting method the carrying values of the assets and liabilities of the parties to the combination are not required to be adjusted to fair value, although appropriate adjustments have been made to achieve uniformity of accounting policies in the combining entities.

The results and cash flows of all the combining entities have been brought into the financial statements of the combined entity from the beginning of the financial year in which the combination occurred, adjusted so as to achieve uniformity of accounting policies.

Significant judgements and estimates

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

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

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the useful economic lives of tangible assets. The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each balance sheet date. The effects of any revision are recognised in profit or loss when the changes arise.

Turnover recognition

Turnover represents the fair value of consideration received for net invoiced sales of gardening, homeware and related goods along with the provision of catering services. Turnover is recognised on the day of sale.

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

- 4% on cost

Leasehold property

- 10% on cost

Plant and machinery

- 20% on reducing balance

Fixtures and fittings

- 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

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

Financial instruments

The group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,864,300

1,585,230

Social security costs

104,210

92,968

Other pension costs

18,354

24,391

1,986,864

1,702,589

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

2025

2024

Directors

4

4

Retail and catering

108

106

112

110

2025

2024

£

£

Directors' remuneration

136,450

121,659

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

Money purchase schemes

1

1

Directors' pension contributions in the year were £1,217 (2024 - £1,064).

4.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

18,354

19,036

Depreciation - owned assets

252,917

271,933

Loss/(profit) on disposal of fixed assets

984

(5,767

)

Auditors' remuneration - audit services

10,900

10,050

Auditors' remuneration - other services

4,380

3,400

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest paid

2,956

5

Interest payable

1,068

1,211

4,024

1,216

6.

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

469,488

390,530

Deferred tax

(17,600

)

(15,700

)

Tax on profit

451,888

374,830

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

1,695,458

1,659,843

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

423,865

414,961

Effects of:

Expenses not deductible for tax purposes

-

(7,397

)

Capital allowances in excess of depreciation

-

(15,527

)

Depreciation in excess of capital allowances

45,623

-

Other adjustments

(17,600

)

(17,207

)

Total tax charge

451,888

374,830

7.	INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.

DIVIDENDS

2025

2024

£

£

Interim dividends paid/(revers ed)

4,000

(4,000

)