Company No: 06321511 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	250,931		169,134
		250,931		169,134
Current assets
Debtors	4	527,982		576,986
Cash at bank and in hand		187,371		312,187
		715,353		889,173
Creditors: amounts falling due within one year	5	( 591,059)		( 747,009)
Net current assets		124,294		142,164
Total assets less current liabilities		375,225		311,298
Creditors: amounts falling due after more than one year	6	( 99,782)		( 42,286)
Provision for liabilities		( 31,461)		( 8,862)
Net assets		243,982		260,150
Capital and reserves
Called-up share capital	7	195		195
Share premium account		9,965		9,965
Profit and loss account		233,822		249,990
Total shareholder's funds		243,982		260,150

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Channel Assist Limited (registered number: 06321511) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

Victoria Anne Lipscombe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Channel Assist Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Home Office Pennyroyal Court, Station Road, Tring, HP23 5QY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

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

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	4 years straight line
Fixtures and fittings	4 years straight line
Computer equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Contributions to Employee Ownership Trust

The Employee Ownership Trust has a controlling interest in the company. Controlling interest is measured by having more than 50% of the ordinary share capital, the voting rights, entitlement to profits available for distribution and assets on winding up. The shares are held for the benefit of all eligible employees (as a group) in accordance with the trust deed and law. The contribution to the Employee Ownership Trust is accounted for as a deduction within equity and is funded out of distributable reserves.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	39		34

3. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	246,917		193,683		70,613		511,213
Additions	118,871		8,750		40,565		168,186
At 31 March 2025	365,788		202,433		111,178		679,399
Accumulated depreciation
At 01 April 2024	97,076		185,505		59,498		342,079
Charge for the financial year	73,116		3,831		9,442		86,389
At 31 March 2025	170,192		189,336		68,940		428,468
Net book value
At 31 March 2025	195,596		13,097		42,238		250,931
At 31 March 2024	149,841		8,178		11,115		169,134

4. Debtors

	2025		2024
	£		£
Trade debtors	506,506		543,272
Amounts owed by directors	644		0
Prepayments	11,775		31,749
Other debtors	9,057		1,965
	527,982		576,986

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	86,211		101,715
Amounts owed to directors	0		187
Accruals	54,927		236,489
Taxation and social security	373,234		372,252
Obligations under finance leases and hire purchase contracts	45,845		18,089
Other creditors	30,842		18,277
	591,059		747,009

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	99,782		42,286

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
145 A ordinary shares of £ 1.00 each	145		145
10 B ordinary shares of £ 1.00 each	10		10
40 D ordinary shares of £ 1.00 each	40		40
	195		195

8. Related party transactions

Other related party transactions

	2025		2024
	£		£
Contribution to EOT	491,077		975,245

On 26th February 2024 the Channel Assist Limited Employee Share Trust (the 'EOT') purchased 145 Ordinary A, 10 Ordinary B and 40 Ordinary D shares, being 100% of the company's issued share capital and the EOT held a controlling interest in the company. £491,077 (2024 - £975,245) was contributed from the company to the EOT and treated as a deduction within equity. This was contributed by the company and funded by reserves.