REGISTERED NUMBER: 01797547 (England and Wales)

CURE IT COMPOSITES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

J R Gill

M S Chialton

D Moorcroft

E Horrobin

REGISTERED OFFICE:

Giants Hall Farm

Willow Road

Beech Hill

Wigan

Lancashire

WN6 8RY

REGISTERED NUMBER:

01797547 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Garry BA (Hons), FCA

AUDITORS:

McDade Roberts Accountants Limited

Chartered Accountants &Statutory Auditor

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

BANKERS:

Handelsbanken

Unit 5

Beecham Court

Wigan

Lancashire

WN3 6PR

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

REVIEW OF BUSINESS

The principal activity of the company remains as the manufacturer of GRP waterproofing products.

In the year to 31 March 2025, the company achieved a turnover of £24,065,734 (2024: £25,422,821). The company faces cost pressures due the volatility of glass fibre prices and as a result direct costs as a percentage of sales have increased from 67.7% in 2024 to 70.0% in 2025. Consequently, the gross profit margin decreased from 32.3% in 2024 to 31.0% in 2025. Despite these pressures, the directors are pleased with the performance.

The net profit before tax for the year is £1,337,812 (2024: £3,242,503). In addition to the cost pressures referred to above, this has been largely effected by the exceptional item reported in note 6.

Market conditions over the year have had an impact across the construction industry, and though the company has expanded it's market share, sales have been directly impacted as a result with lower spend per account and per order. The outlook for growth in the market for the company over the coming year remains uncertain, however, the directors remain confident that the company will continue to evolve its' sales strategy to reflect this.

In February 2025, the company successfully launched its new "Cure It One" brand. Cure It One takes everything that's great about GRP and simplifies it. It's a one-coat GRP system that's designed to save time, reduce waste, and deliver outstanding performance. The launch of the system will continue over the coming financial year and ensure the company remains a leader in GRP roofing products.

PRINCIPAL RISKS AND UNCERTAINTIES

Market and competition

The company is in a naturally competitive market. However, there is a high level of client retention due to the intense focus on customer service and quality product supply.

Customer Risk

The company currently manages its customer risk by continuously monitoring its exposure to debt levels and didn't face any issue this year. The plan is to continue with this strategy.

People

Retaining and attracting good people is seen as the key to maintain customer service levels. The company tries to invest in its people through a mixture of remuneration, training and providing the right working environment. The company is an equal opportunity employer.

Health and safety

The company needs to comply with all laws and regulations governing health and safety matters. It continues to maintain appropriate policies and procedures.

Financial instruments

The company has established a risk and financial management framework in relation to financial instruments whore primary objectives are to protect the group from events that hinder the achievement of the group's performance objectives. The objectives aim to limit undue counterparty exposure, ensure sufficient working capital exists and monitor the management of risk.

While we believe we have built the company on strong foundations, with low borrowing requirements and major structural investments funded from revenue, we are aware that competitive activity is still rising. The directors amend their marketing and pricing strategies accordingly.

Whilst there has been no change in the foreign exchange risk the directors try to get the price in sterling for the purchases outside the UK, wherever possible.

KEY PERFORMANCE INDICATORS

The main financial Key Performance Indicators (KPI's) are turnover and gross profit. The results for the year are as follows:

31 March 2025£

31 March 2024£

Turnover

24,065,734

25,422,821

Gross Profit

7,459,700

8,216,491

Overall, the directors are satisfied with the results for the year.

FUTURE DEVELOPMENTS

The company intends to continue investing and developing it's "Cure It One" product line, with an emphasis on improving each aspect of the sales channel and broadening the scope for sales over the coming year. This will be in achieved through investment in the sales team and production capacity.

NON FINANCIAL INFORMATION

The company will continue to enhance internal systems, including ISO 9001 and 14001

LEGAL NOTICE

Certain statements contained in the accounts of G&B (North West) Limited include information about current and predicted future operations. While it is the declared intention of the directors to maintain the forward strategy of the company future variations in market conditions and underlying economic conditions may force the board to make short term changes which cannot be predicted for foreseen when writing this report.

ON BEHALF OF THE BOARD:

M S Chialton - Director

11 December 2025

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

DIVIDENDS

The total distribution for the year ended 31 March 2025 will be £959,800 (2024: £483,600).

DIRECTORS

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

J R Gill

M S Chialton

D Moorcroft

Other changes in directors holding office are as follows:

E Horrobin - appointed 3 September 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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.

AUDITORS

The auditors, McDade Roberts Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M S Chialton - Director

11 December 2025

Opinion

We have audited the financial statements of Cure It Composites Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, 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 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.

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 business 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; 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; 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 the 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, relevant regulators, and the company's legal advisors

- obtained a specific third party report to comment on areas of concern.

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.Any suspicious brought to our attention and arising from the audit work conducted have been investigated thoroughly.

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.

Martin Garry BA (Hons), FCA (Senior Statutory Auditor)

for and on behalf of McDade Roberts Accountants Limited

Chartered Accountants &Statutory Auditor

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

11 December 2025

TURNOVER

3

24,065,734

25,422,821

Cost of sales

16,606,034

17,206,330

GROSS PROFIT

7,459,700

8,216,491

Administrative expenses

6,160,487

4,975,165

1,299,213

3,241,326

Other operating income

7,704

14,613

OPERATING PROFIT

5

1,306,917

3,255,939

Interest receivable and similar income

53,013

48,828

1,359,930

3,304,767

Interest payable and similar expenses

7

22,119

62,264

PROFIT BEFORE TAXATION

1,337,811

3,242,503

Tax on profit

8

395,045

962,715

PROFIT FOR THE FINANCIAL YEAR

942,766

2,279,788

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

942,766

2,279,788

FIXED ASSETS

Intangible assets

10

13,574

8,500

Tangible assets

11

2,743,370

2,639,005

Investments

12

-

1,506,104

2,756,944

4,153,609

CURRENT ASSETS

Stocks

13

2,808,436

2,968,593

Debtors

14

4,146,201

3,144,062

Cash at bank and in hand

1,647,403

2,408,796

8,602,040

8,521,451

CREDITORS

Amounts falling due within one year

15

2,525,971

3,840,733

NET CURRENT ASSETS

6,076,069

4,680,718

TOTAL ASSETS LESS CURRENT LIABILITIES

8,833,013

8,834,327

CREDITORS

Amounts falling due after more than one year

16

(77,121

)

(143,904

)

PROVISIONS FOR LIABILITIES

19

(350,309

)

(267,806

)

NET ASSETS

8,405,583

8,422,617

CAPITAL AND RESERVES

Called up share capital

20

51

51

Capital redemption reserve

21

49

49

Retained earnings

21

8,405,483

8,422,517

SHAREHOLDERS' FUNDS

8,405,583

8,422,617

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

M S Chialton - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

51

6,626,329

49

6,626,429

Changes in equity

Profit for the year

-

2,279,788

-

2,279,788

Total comprehensive income

-

2,279,788

-

2,279,788

Dividends

-

(483,600

)

-

(483,600

)

Balance at 31 March 2024

51

8,422,517

49

8,422,617

Changes in equity

Profit for the year

-

942,766

-

942,766

Total comprehensive income

-

942,766

-

942,766

Dividends

-

(959,800

)

-

(959,800

)

Balance at 31 March 2025

51

8,405,483

49

8,405,583

1.	STATUTORY INFORMATION

Cure It Composites Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going Concern

The financial statements have been prepared on a going concern basis. The directors are of the opinion that the company will continue its business in the foreseeable future. Comment has been made within the strategic report regarding the results for the year.

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.

Significant judgements and estimates

In the preparation of the financial statements, the directors have made judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.

Critical accounting judgements and key sources of estimation uncertainty

In the process of of applying the company's accounting policies a critical accounting judgement has been made to recognise provisions old and obsolete stock items. In line with the policy the stock value has been adjusted by the specific provision made.

Turnover

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

The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

Turnover also includes the income receivable by the company from the sale of Installation Guarantee Protection to customers. This protection guarantees the customer for up to 25 years from the date of installation for any defects proven from the fault of installation or fixing procedures. If certain conditions are met, the company is obliged to repair the defect free of charge to customers.

Website

Website costs are initially recognised at cost. After initial recognition, the website is measured at cost less any accumulated amortisation and any accumulated impairment losses.

The website is amortised evenly over 3 years from the date it is brought into use.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

in accordance with the property

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Where appropriate the estimated residual value of the assets are taken into account when calculating depreciation.

Tangible fixed assets are initially recognised at cost. After initial recognition, tangible fixed assets are included at cost less any accumulated depreciation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax

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

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

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Employee benefit trust

Throughout the year the parent company has operated an employee benefit trust. This was set up in order to give short term financial assistance to the employees of the company. Although the entity has transferred funds to an intermediary, it is deemed that the company has exchanged one asset for another and that the payment itself does not represent an immediate expense. As such the value of the trusts asset and liabilities is included within the company's balance sheet.

Financial instruments

Financial assets and liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value net of transaction costs, and are measured subsequently reference to the repayment terms.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method, less any impairment.

Provision for liabilities

Provisions for the expected costs of maintenance under guarantees are charged against profits when products have been invoiced. The effect of the time value of money is not considered material and therefore provisions are not discounted.

Where necessary specific provisions are provided for based on if the directors consider there to be a present obligation as a result of a past event and where a transfer of economic benefits is probable to settle the obligation. Provisions are measured at the best estimate of the amount required to settle the obligation at the reporting date.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Roofing supplies and services

24,065,734

25,422,821

24,065,734

25,422,821

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,354,757

3,210,069

Social security costs

360,471

301,319

Other pension costs

420,540

365,232

4,135,768

3,876,620

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

2025

2024

Directors and administration

16

16

Sales and marketing

20

17

Production and transport

53

49

Research and development

1

1

Site maintenance

2

3

92

86

2025

2024

£

£

Directors' remuneration

316,774

296,275

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

Money purchase schemes

3

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

172,937

201,500

5.	OPERATING PROFIT

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

2025

2024

£

£

Other operating leases

169,740

160,987

Depreciation - owned assets

502,531

503,309

Depreciation - assets on hire purchase contracts

45,857

71,984

Profit on disposal of fixed assets

(6,242

)

(3,387

)

Website amortisation

5,551

-

Auditors' remuneration

11,500

11,000

Foreign exchange differences

995

96

6.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

(375,098

)

-

During the year, the company recognised an exceptional item within administrative expenses. The exceptional item relates to the write-down of loans receivable from entities controlled by a director. Management consider this item exceptional due to its material size and non-recurring nature, which is not reflective of the company's underlying trading performance.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

7,103

47,595

Hire purchase

15,016

14,669

22,119

62,264

8.

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

312,542

867,639

Deferred tax

82,503

95,076

Tax on profit

395,045

962,715

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

1,337,811

3,242,503

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

334,453

810,626

Effects of:

Expenses not deductible for tax purposes

76,152

68,311

Capital allowances in excess of depreciation

(27,826

)

-

Depreciation in excess of capital allowances

-

20,487

Losses surrendered by other group company

(50,258

)

-

Enhanced research and development expenditure

(29,281

)

(25,335

)

Deferred tax

82,503

95,076

Under/over provision in previous years

9,302

(6,450

)

Total tax charge

395,045

962,715

9.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

959,800

483,600

10.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 April 2024

8,500

Additions

10,625

At 31 March 2025

19,125

AMORTISATION

Amortisation for year

5,551

At 31 March 2025

5,551

NET BOOK VALUE

At 31 March 2025

13,574

At 31 March 2024

8,500