REGISTERED NUMBER: 04756328 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

INTERACTIVE PROJECTS & DESIGN LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

Directors:

J G Tully

P G Barber

J Tully

Secretary:

J Tully

Registered office:

Chesnut House

Chesnut Street

Darlington

Co. Durham

DL1 1QL

Registered number:

04756328 (England and Wales)

Senior statutory auditor:

Lee Harris BSc (Hons), FCCA

Auditors:

Mitchell Gordon LLP

Accountants and Statutory Auditor

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

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

Fair review of the company's business

The company provides shopfitting and building services principally in the Commercial, Retail, Industrial and Local Authority sectors across the UK and Republic of Ireland. The strength of our business is our design and build capability and willingness to work with clients to achieve their aspirations for the completed project. We have continued the structured growth of the business since 2003 and remain in a strong position going forward to increase sales beyond the level achieved in 2025. The management team is strong and stable with adequate capacity for future business growth.

PERFORMANCE

In 2025 turnover was lower than in the previous year and profitability was lower than expectations. However, profits were still retained to increase the net assets of the Company. All projects were completed on time and within budget to the client's satisfaction.

COMPANY'S PERFORMANCE FOR THE YEAR ENDED 31 MARCH 2026

Company sales for the year ended 31 March 2026 are forecast to be £12m based on current secured orders. Positive feedback has been received from our existing clients and we anticipate a similar level of new business opportunities. In 2025 as well as continuing our contracts with our existing clients we continued to gain a number of new clients who we are working closely with to establish further growth moving forward for the year ending 31st March 2026/2027.

In 2025 turnover was lower than expected mainly due to uncertainty within the retail sector with a number of clients proceeding with caution with their proposed programmes. One of our main clients have also been unable to source as many suitable properties as they would have preferred to allow additional stores to be added to their portfolio. However, our new client business portfolio has continued to grow during the year to 31st March 2025 and well into the new financial year 2025/2026.

Principal risks and uncertainties facing the entity

Following the uncertainty of a new government being elected together with the economic issues this has brought, these issues remain key uncertainties within the Commercial, Retail and Industrial sectors, with difficulty in predicting the direction of the economy. In addition to this, supply chain problems and an overall increase in material costs are still a risk to the Company although we are still well placed to be minimally impacted by the effects that the uncertainty of the unsettled economy brings. We retain significant cash reserves and are not reliant upon external funding so any unforeseen impact can be managed internally and controlled while remaining financially strong. While certain areas within the Commercial, Retail and Industrial sectors will slow and be adversely affected by the uncertainties we now face, the discounted retail stores, who contribute to a large percentage of our turnover, are expected to remain strong and continue to grow.

Key financial performance indicators

The Board work with a number of key performance indicators to manage the business. They are a combination of financial and non financial measures. Our aim over the next four to five years is still to increase turnover at an average rate of 5% per annum. This is seen by the Board as a level that is sustainable and capable of being supported with adequate financial and human resources. With careful management, profits should be realised in line with turnover.

Net asset base and liquidity are important to the stability of the Company. To achieve the growth objective set out above it will be necessary for the Company to retain profits to fund working capital. The company will therefore seek to ensure profits are retained each year to increase the net asset base year on year. This should allow the Company to grow by accepting higher value projects and also to increase volume of projects.

It is acknowledged that liquidity and cash management is important in the construction industry. The Company aim to manage its working capital to ensure that its quick ratio always exceeds 1 and will be preferably higher. This policy avoids financial pressure influencing the way projects are run.

The Company does not operate with bank borrowing facilities and it is our aim to remain cash positive in all the work we undertake. This reduces the risk of outside influences for both the Company and its clients.

Overstretching the management resources of the company can result in added risk for the business. We work with a small range of clients, each with a significant value. Higher levels of project activity are possible but would only be undertaken if the logistics and locations of the projects permit satisfactory management.

The financial KPI's used to measure the company's progress and performance are revenue, gross profit margin operating profit margin, cash generation and net assets.

2025

2024

Revenue

£11,257,618

£13,823,164

Quick Ratio

3.60

2.64

Operating Profit

10.68%

16.65%

Net Assets

£5,996,737

£5,995,150

Cash Balance

£5,383,961

£4,118,953

On behalf of the board:

J G Tully - Director

15 December 2025

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

Principal activity

The principal activity of the company in the year under review was that of shop design and installation of shop fittings.

Dividends

The total distribution of dividends for the year ended 31 March 2025 will be £968,931.

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 G Tully

P G Barber

J Tully

Statement of directors' responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

Statement as to disclosure of information to auditors

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

Auditors

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

On behalf of the board:

J G Tully - Director

15 December 2025

Opinion

We have audited the financial statements of Interactive Projects & Design Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sectors in which the company operates;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection compliance, 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.

These procedures did not identify any potentially material actual or suspected non-compliance.

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;

- reviewed material journal entries to identify unusual transactions or posting by unusual users;

- 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;

- reading the minutes of meetings of those charged with governance;

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

- reviewing correspondence with HMRC, (enter any other relevant regulators) and the company's legal advisors.

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. For example, 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.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance of fraud and cannot be expected to detect non-compliance with all laws & 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.

Lee Harris BSc (Hons), FCCA (Senior Statutory Auditor)

for and on behalf of Mitchell Gordon LLP

Accountants and Statutory Auditor

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

16 December 2025

Turnover

3

11,257,618

13,823,164

Cost of sales

8,443,573

10,058,480

Gross profit

2,814,045

3,764,684

Administrative expenses

1,612,212

1,463,623

1,201,833

2,301,061

Other operating income

434

-

Operating profit

5

1,202,267

2,301,061

Interest receivable and similar income

91,981

86,998

Profit before taxation

1,294,248

2,388,059

Tax on profit

6

323,730

600,102

Profit for the financial year

970,518

1,787,957

Other comprehensive income

-

-

Total comprehensive income for the year

970,518

1,787,957

Fixed assets

Tangible assets

8

400,897

431,876

Current assets

Debtors

9

2,418,094

4,938,480

Cash at bank and in hand

5,383,961

4,118,953

7,802,055

9,057,433

Creditors

Amounts falling due within one year

10

2,170,183

3,430,318

Net current assets

5,631,872

5,627,115

Total assets less current liabilities

6,032,769

6,058,991

Provisions for liabilities

11

36,032

63,841

Net assets

5,996,737

5,995,150

Capital and reserves

Called up share capital

12

200

200

Retained earnings

13

5,996,537

5,994,950

Shareholders' funds

5,996,737

5,995,150

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

J G Tully - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

200

5,523,887

5,524,087

Changes in equity

Dividends

-

(1,316,894

)

(1,316,894

)

Total comprehensive income

-

1,787,957

1,787,957

Balance at 31 March 2024

200

5,994,950

5,995,150

Changes in equity

Dividends

-

(968,931

)

(968,931

)

Total comprehensive income

-

970,518

970,518

Balance at 31 March 2025

200

5,996,537

5,996,737

Cash flows from operating activities

Cash generated from operations

1

3,058,182

864,035

Tax paid

(502,473

)

(510,447

)

Net cash from operating activities

2,555,709

353,588

Cash flows from investing activities

Purchase of tangible fixed assets

(135,223

)

(278,689

)

Sale of tangible fixed assets

36,137

10,300

Interest received

91,981

86,998

Net cash from investing activities

(7,105

)

(181,391

)

Cash flows from financing activities

Amount withdrawn by directors

(314,666

)

(130,640

)

Movement on related balances

1

186,487

Equity dividends paid

(968,931

)

(1,316,894

)

Net cash from financing activities

(1,283,596

)

(1,261,047

)

Increase/(decrease) in cash and cash equivalents

1,265,008

(1,088,850

)

Cash and cash equivalents at beginning of year

2

4,118,953

5,207,803

Cash and cash equivalents at end of year

2

5,383,961

4,118,953

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

31/3/25

31/3/24

£

£

Profit before taxation

1,294,248

2,388,059

Depreciation charges

128,853

58,882

Loss/(profit) on disposal of fixed assets

1,212

(911

)

Finance income

(91,981

)

(86,998

)

1,332,332

2,359,032

Decrease/(increase) in trade and other debtors

2,520,385

(2,763,681

)

(Decrease)/increase in trade and other creditors

(794,535

)

1,268,684

Cash generated from operations

3,058,182

864,035

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

5,383,961

4,118,953

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

4,118,953

5,207,803

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

4,118,953

1,265,008

5,383,961

4,118,953

1,265,008

5,383,961

Total

4,118,953

1,265,008

5,383,961

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements have been prepared under the going concern basis of accounting as the directors have a reasonable expectation that the company will remain in business for the foreseeable future.

Turnover

Turnover represents the value of work carried out and goods sold during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Office equipment

-

25% on cost and 10% on cost

Motor vehicles

-

25% on reducing balance

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

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

Pension costs and other post-retirement benefits

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 and loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

31/3/25

31/3/24

£

£

United Kingdom

11,257,618

13,808,823

Europe

-

14,341

11,257,618

13,823,164

4.	EMPLOYEES AND DIRECTORS

31/3/25

31/3/24

£

£

Wages and salaries

1,379,673

1,290,673

Social security costs

66,376

52,226

Other pension costs

83,987

79,884

1,530,036

1,422,783

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

31/3/25

31/3/24

Directors

3

3

Direct labour

13

14

Administration and management

14

13

30

30

31/3/25

31/3/24

£

£

Directors' remuneration

40,000

40,000

Directors' pension contributions to money purchase schemes

71,013

71,013

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

Money purchase schemes

3

3

5.	OPERATING PROFIT

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

31/3/25

31/3/24

£

£

Depreciation - owned assets

128,853

58,882

Loss/(profit) on disposal of fixed assets

1,212

(911

)

Auditors' remuneration

8,415

8,015

Foreign exchange differences

18

52

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/3/25

31/3/24

£

£

Current tax:

UK corporation tax

351,539

545,591

Under-provision in prior years

-

2,924

Total current tax

351,539

548,515

Deferred tax

(27,809

)

51,587

Tax on profit

323,730

600,102

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:

31/3/25

31/3/24

£

£

Profit before tax

1,294,248

2,388,059

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

323,562

597,015

Effects of:

Expenses not deductible for tax purposes

247

214

Capital allowances in excess of depreciation

-

(51,638

)

Depreciation in excess of capital allowances

27,730

-

Under-provision in previous year

-

2,924

Movement in deferred tax charge

(27,809

)

51,587

Total tax charge

323,730

600,102

7.

DIVIDENDS

31/3/25

31/3/24

£

£

Ordinary shares of £1 each

Paid during the year

600,000

900,000

A Ordinary shares of £1 each

Paid during the year

368,931

416,894

968,931

1,316,894

8.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

Motor

property

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

5,871

17,007

121,860

686,790

831,528

Additions

-

714

-

134,509

135,223

Disposals

-

-

-

(214,644

)

(214,644

)

At 31 March 2025

5,871

17,721

121,860

606,655

752,107

DEPRECIATION

At 1 April 2024

2,985

16,688

94,479

285,500

399,652

Charge for year

587

279

10,960

117,027

128,853

Eliminated on disposal

-

-

-

(177,295

)

(177,295

)

At 31 March 2025

3,572

16,967

105,439

225,232

351,210

NET BOOK VALUE

At 31 March 2025

2,299

754

16,421

381,423

400,897

At 31 March 2024

2,886

319

27,381

401,290

431,876

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

2,241,277

4,857,020

Other debtors

52,725

47,497

Prepayments

124,092

33,963

2,418,094

4,938,480

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

720,499

1,322,490

Tax

162,764

313,698

Social security and other taxes

44,382

99,602

VAT

128,120

400,732

Other creditors

129,481

131,205

Directors' current accounts

379,694

694,360

Accrued expenses

605,243

468,231

2,170,183

3,430,318