REGISTERED NUMBER: SC753198 (Scotland)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30th June 2025

for

M&W Security Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

to

6

Consolidated Income Statement

7

Consolidated Other 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

to

23

DIRECTORS:

S J F Morley

P Williamson

Mrs N Kaur

REGISTERED OFFICE:

1st Floor Left

161 Brooms Road

Dumfries

DUMFRIESSHIRE

DG1 2SH

REGISTERED NUMBER:

SC753198 (Scotland)

AUDITORS:

Farries, Kirk & McVean

Chartered Accountants

Statutory Auditors

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

The directors present their strategic report of the company and the group for the year ended 30th June 2025.

The group provide manned guarding and reception services for property assets and individuals and continues to employ almost 1,000 security personnel throughout the UK. Fundamental to the group's success is the military ethos that pervades all aspects of the way the group is run, and all contact with customers. Alongside this approach is a focus on innovation. A key area of innovation has been the creation of PROception, a front of house concept, making the modern reception part of a building's security strategy, It is a natural combination with the group's manned guarding services for buildings where there is a reception, and our clients are recognising the significant benefits of combining the two services to the significant enhancement of a building's security.

The experience and expertise contained across our employee base is significant and in the current economic environment it is crucial that we remain an employer of choice with competitive pay levels together with providing a positive and engaging work environment. To deliver a premium security service is only possible by having a high quality of personnel to do so.

REVIEW OF BUSINESS

Ignoring goodwill amortised on consolidation, the key financial and other performance indicators during the year were as follows:

2025

2024

Change

£'000000

£'000000

%

Turnover

37,836

36,968

+2%

Gross Profit

5,260

4,874

+8%

Profit before tax

347

129

+169%

Current assets as % of current liabilities

56%

67%

-16%

Average number of employees

933

991

-6%

The increase in sales and profits reflects the increase in demand for our security solutions.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to competition from both national security providers and employee retention.

Competitive risk

The company has contracts which are subject to periodic competitive tender. Renewal of these contracts is uncertain and is based on financial and other performance criteria. To minimise competitive risk the company continues to invest in its commercial department which is tasked with managing the process of re-tendering of existing and of new opportunities. The continued growth in sales bears witness to our growth strategy and of this investment.

Financial instrument risk

The company continues to trade from internally generated working capital and has access to an external borrowing facility which is secured on its debtor book.

ON BEHALF OF THE BOARD:

P Williamson - Director

10th December 2025

The directors present their report with the financial statements of the company and the group for the year ended 30th June 2025.

DIVIDENDS

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

DIRECTORS

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

S J F Morley

P Williamson

Mrs N Kaur

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.

AUDITORS

The auditors, Farries, Kirk & McVean, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Williamson - Director

10th December 2025

Opinion

We have audited the financial statements of M&W Security Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th June 2025 which comprise the Consolidated Income Statement, Consolidated Other 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 30th June 2025 and of the group's loss 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 assessed the susceptibility of the group's financial statements to material misstatement as being low risk. The directors are very involved in the day to day management of the business and have a focus on controls to address potential fraud and error.

- the nature of the group's activities are not significantly regulated. We have discussed applicable laws and regulations with the directors. This has enabled us to gain an understanding of those laws and regulations that are applicable to the group and the procedures they operate to ensure compliance.

- we have discussed the legal and regulatory framework the group operates under with the directors. This has enabled us to gain an understanding of those applicable to the group and the procedures they operate to ensure compliance.

- we have obtained an understanding of the group's policies and procedures on fraud risk through two way communication with the management and have no knowledge of any actual, suspected or alleged fraud.

- the Senior Statutory Auditor is satisfied that the engagement audit staff were competent to and capable of recognising non-compliance with laws and regulation. No details of any non-compliance were communicated to us and no such potential instances were noted during the audit process.

We have reached these conclusions following enquiries made of those charged with governance and senior staff and following audit testing procedures and review of financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

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.

Gerald McGill, BA CA (Senior Statutory Auditor)

for and on behalf of Farries, Kirk & McVean

Chartered Accountants

Statutory Auditors

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

11th December 2025

TURNOVER

3

37,835,539

36,968,018

Cost of sales

(32,575,933

)

(32,094,391

)

GROSS PROFIT

5,259,606

4,873,627

Administrative expenses

(5,187,876

)

(5,053,519

)

71,730

(179,892

)

Other operating income

7,432

7,341

OPERATING PROFIT/(LOSS)

5

79,162

(172,551

)

Interest payable and similar expenses

6

(232,300

)

(198,021

)

LOSS BEFORE TAXATION

(153,138

)

(370,572

)

Tax on loss

7

(134,298

)

(74,372

)

LOSS FOR THE FINANCIAL YEAR

(287,436

)

(444,944

)

Loss attributable to:

Owners of the parent

(287,436

)

(444,944

)

LOSS FOR THE YEAR

(287,436

)

(444,944

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(287,436

)

(444,944

)

Total comprehensive income attributable to:

Owners of the parent

(287,436

)

(444,944

)

FIXED ASSETS

Intangible assets

9

4,000,000

4,500,000

Tangible assets

10

100,833

121,186

Investments

11

-

-

4,100,833

4,621,186

CURRENT ASSETS

Debtors

12

5,861,476

5,238,132

Cash at bank and in hand

160,283

1,214,462

6,021,759

6,452,594

CREDITORS

Amounts falling due within one year

13

(10,671,988

)

(9,657,239

)

NET CURRENT LIABILITIES

(4,650,229

)

(3,204,645

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(549,396

)

1,416,541

CREDITORS

Amounts falling due after more than one year

14

-

(1,650,673

)

PROVISIONS FOR LIABILITIES

18

-

(27,828

)

NET LIABILITIES

(549,396

)

(261,960

)

CAPITAL AND RESERVES

Called up share capital

19

2

2

Retained earnings

20

(549,398

)

(261,962

)

SHAREHOLDERS' FUNDS

(549,396

)

(261,960

)

The financial statements were approved by the Board of Directors and authorised for issue on 10th December 2025 and were signed on its behalf by:

P Williamson - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

6,596,680

6,596,680

6,596,680

6,596,680

CURRENT ASSETS

Cash in hand

2

2

CREDITORS

Amounts falling due within one year

13

(6,901,871

)

(5,129,509

)

NET CURRENT LIABILITIES

(6,901,869

)

(5,129,507

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(305,189

)

1,467,173

CREDITORS

Amounts falling due after more than one year

14

-

(1,650,673

)

NET LIABILITIES

(305,189

)

(183,500

)

CAPITAL AND RESERVES

Called up share capital

19

2

2

Retained earnings

20

(305,191

)

(183,502

)

SHAREHOLDERS' FUNDS

(305,189

)

(183,500

)

Company's loss for the financial year

(121,689

)

(183,502

)

The financial statements were approved by the Board of Directors and authorised for issue on 10th December 2025 and were signed on its behalf by:

P Williamson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st July 2023

2

182,982

182,984

Changes in equity

Total comprehensive income

-

(444,944

)

(444,944

)

Balance at 30th June 2024

2

(261,962

)

(261,960

)

Changes in equity

Total comprehensive income

-

(287,436

)

(287,436

)

Balance at 30th June 2025

2

(549,398

)

(549,396

)

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st July 2023

2

-

2

Changes in equity

Total comprehensive income

-

(183,502

)

(183,502

)

Balance at 30th June 2024

2

(183,502

)

(183,500

)

Changes in equity

Total comprehensive income

-

(121,689

)

(121,689

)

Balance at 30th June 2025

2

(305,191

)

(305,189

)

Cash flows from operating activities

Cash generated from operations

1

(1,019,575

)

1,561,082

Interest paid

(232,300

)

(198,021

)

Tax paid

(48,330

)

32,651

Net cash from operating activities

(1,300,205

)

1,395,712

Cash flows from investing activities

Purchase of tangible fixed assets

(78,234

)

(120,932

)

Sale of tangible fixed assets

-

6,300

Net cash from investing activities

(78,234

)

(114,632

)

Cash flows from financing activities

New loans in year

-

183,502

Loan repayments in year

(2,110,579

)

(538,108

)

Amount withdrawn by directors

-

(13,275

)

Net cash from financing activities

(2,110,579

)

(367,881

)

(Decrease)/increase in cash and cash equivalents

(3,489,018

)

913,199

Cash and cash equivalents at beginning of year

2

1,169,994

256,795

Cash and cash equivalents at end of year

2

(2,319,024

)

1,169,994

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

2025

2024

£

£

Loss before taxation

(153,138

)

(370,572

)

Depreciation charges

598,588

593,613

Profit on disposal of fixed assets

-

(729

)

Other provisions

(27,828

)

(7,172

)

Finance costs

232,300

198,021

649,922

413,161

(Increase)/decrease in trade and other debtors

(622,672

)

2,103,672

Decrease in trade and other creditors

(1,046,825

)

(955,751

)

Cash generated from operations

(1,019,575

)

1,561,082

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 30th June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

160,283

1,214,462

Bank overdrafts

(2,479,307

)

(44,468

)

(2,319,024

)

1,169,994

Year ended 30th June 2024

30.6.24

1.7.23

£

£

Cash and cash equivalents

1,214,462

256,795

Bank overdrafts

(44,468

)

-

1,169,994

256,795

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.7.24

Cash flow

At 30.6.25

£

£

£

Net cash

Cash at bank and in hand

1,214,462

(1,054,179

)

160,283

Bank overdrafts

(44,468

)

(2,434,839

)

(2,479,307

)

1,169,994

(3,489,018

)

(2,319,024

)

Debt

Debts falling due within 1 year

(2,121,409

)

459,905

(1,661,504

)

Debts falling due after 1 year

(1,650,673

)

1,650,673

-

(3,772,082

)

2,110,578

(1,661,504

)

Total

(2,602,088

)

(1,378,440

)

(3,980,528

)

1.	STATUTORY INFORMATION

M&W Security Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxation. Turnover represents revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

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

Long leasehold

-

over the lease term

Plant and machinery

-

Straight line over contract term

Motor vehicles

-

25% on cost

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

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.

Invoice financing

The group use Invoice Financing through Lloyds Group to accelerate the receipt of funds due from debtors. No rights are transferred to the finance provider, all benefits and risks remain with the group and all finance is potentially repayable therefore linked presentation is not appropriate. Accordingly debtors are disclosed in full within the balance sheet and the associated finance is included within creditors due within one year.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the services charged to customers, including any amounts charged on for third parties.

Trade Creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probably that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the group.

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

2025

2024

£

£

Services rendered

37,835,539

36,968,018

37,835,539

36,968,018

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

30,036,641

29,947,347

Social security costs

3,350,838

3,051,557

Other pension costs

559,427

555,816

33,946,906

33,554,720

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

2025

2024

Directors

2

2

Management and administration

52

52

Service and product provision

879

937

933

991

The average number of employees by undertakings that were proportionately consolidated during the year was 933 (2024 - 991 ) .

2025

2024

£

£

Directors' remuneration

308,259

313,653

Directors' pension contributions to money purchase schemes

2,642

2,642

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

168,205

165,904

Pension contributions to money purchase schemes

1,321

1,321

5.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

139,451

129,909

Depreciation - owned assets

98,587

93,612

Profit on disposal of fixed assets

-

(729

)

Goodwill amortisation

500,000

500,000

Auditors' remuneration

11,000

11,000

Taxation compliance services

1,000

1,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Debt factor interest

33,009

-

HMRC interest & penalties

77,602

14,519

Interest payable

121,689

183,502

232,300

198,021