REGISTERED NUMBER: NI036860 (Northern Ireland)

LEITRIM HOLDINGS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

8

Consolidated Statement of Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

P M Loughlin

J Keenan

SECRETARY:

J Keenan

REGISTERED OFFICE:

65 Deerpark Road

Leitrim

Castledawson

Co. Londonderry

BT45 8BS

REGISTERED NUMBER:

NI036860 (Northern Ireland)

AUDITORS:

McAleer Jackson Ltd

Chartered Accountants & Statutory Auditors

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Danske Bank

North Business Centre

1 - 2 Broadway

Ballymena

Co. Antrim

BT43 7AA

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

REVIEW OF BUSINESS

The directors consider the results during the year to be satisfactory given the challenges in the wider economy.

The growth in revenue had been primarily achieved through the facilities management, construction, property management activities of the Group, as that business focused on delivering on a number of public sector frameworks. The performance of the Group's investment and property interests has been satisfactory.

Throughout the year the Group has been successful in a number of targeted procurements adding new clients and work streams along with diversification and expansion to our existing portfolio. Whilst market conditions in NI and Ireland continue to be highly competitive across the business sectors we operate in. The on-going investment in our people, systems, business development and infrastructure will ensure continued success for the Group.

PRINCIPAL RISKS AND UNCERTAINTIES

This was a challenging year for the Group due to rising inflation, skilled labour shortages and rising costs.

With an ever ageing workforce the construction industry is feeling the effects of a previous lack of investment in attracting a younger generation towards apprenticeships in the industry.

The uncertainty of public budgets is a significant challenge to our business as we strive to provide the highest levels of service to our customers

The directors continue to operate a prudent approach to business operations, along with continued strategic investment in people, systems, digital and innovation, will support the business consolidating existing markets and seek opportunities for diversification and improving service offerings to existing and new clients in the short to medium term.

SECTION 172(1) STATEMENT

he director acknowledges his responsibilities under section 172 of the Companies Act 2006.

This statement describes how the director has taken into account the matters set out in section 172(1) (a) to (f) of the Companies Act 2006, when performing his duty to promote the success of the company. The specific steps taken to address the matters set out in sections (a) to (f) are outlined below:-

(a) The likely consequences of any decision in the long-term

The director regularly reviews his corporate and ethical duties via a corporate governance framework and develops plans that implement strategies. In all strategic decision making, the director considers the long term impact and reputation of the group and effectively mitigates against any risks.

(b) The interests of the Group's employees

The director places the health, safety and wellbeing of employees at the forefront of his approach and encourages significant employee engagement in the process. The director aims to ensure that all employees are in an environment which is safe and secure.

(c) The need to foster the Group's business relationships with suppliers, customers and others

The director historically has a strong relationship with the suppliers, customers and other stakeholders, and is actively developing new business development links and driving best practice within the supply chain. Key relationships with suppliers and customers are multi-layered with multiple contact points, including senior management involvement. The director is committed to the continuous professional development of staff which in turn improves the customer experience.

(d) The impact of the Group's operations on the community and environment

The Group provides support to a number of local, national and international charitable operations. The Group is committed to minimizing any negative impact on the environment within the confines of the effective operation of the business activity.

(e) The desirability of the company maintaining a reputation for high standards of business conduct

The director requires all employees of the group to maintain the highest standards of conduct when dealing with customers, suppliers and other stakeholders. The director does not tolerate behaviours or acts which can be deemed active or passive corruption, collusion or that influence favoritism.

(f) The need to act fairly between members of the company

Meetings between the director and senior management are held to discuss the strategic direction and objectives of the group, business performance and future plans. The director developed a strategic plan for the group, with full involvement of the senior management team.

FINANCIAL RISK MANAGEMENT

The Group uses various financial instruments including cash and various items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance tor the Group's operations.

The existence of these financial instruments exposes the group to a number of financial risks. The group has budgetary and financial reporting procedures, supported by appropriate key performance indicators to manage credit, liquidity and other financial risk.

Credit risk

The Group's principal credit risk is in respect of customer credit arrangements which are managed through strict credit control arrangements and procedures.

Liquidity risk

The Group finances its working capital and investments with its own cash reserves and retains adequate balances to mitigate short and medium term liquidity risk.

KEY PERFORMANCE INDICATORS (KPIS)

The Group's directors are of the opinion that detailed analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

FUTURE OUTLOOK

While the directors remain conscious of the current economic conditions and how ongoing pressures on public finance can have an adverse impact on the Group's future performance, they remain confident that their continued policy of prudent financial management will enable the Group to consolidate its position within its existing market; while at the same time developing opportunities when new tenders or contracts arise.

GOING CONCERN

The Group has considerable financial resources and are in a strong net asset position. The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.

ON BEHALF OF THE BOARD:

J Keenan - Director

12 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the Group is the delivery of facilities management services and property investment, management and development activities.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £151,962 (2024 - £151,962).

FUTURE DEVELOPMENTS

The directors do not forsee any future developments in the forthcoming year outside of normal trading.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end.

DIRECTORS

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

P M Loughlin

J Keenan

POLITICAL DONATIONS AND EXPENDITURE

The Group made charitable donations amounting to £25,843 during the year (2024 - £22,475). No donations for political purposes were made during the year.

STREAMLINED ENERGY AND CARBON REPORTING

In line with the 'Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018' and related accompanying government guidance 'Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting requirements: March 2019', the Group presents details of its carbon and energy usage.

In line with the associated regulations and guidance, the Group has provided combined reporting for companies meeting the Companies Act definition of a 'large' company and where annual energy consumption is greater than 40,000 kWh.

Accordingly the following report is based on the energy and carbon usage of Leitrim Holdings Limited, Leitrim No 1 Ltd and Combined Facilities Management Ltd. The activities of these companies include the delivery of facilities management services and property investment, management and development activities.

Energy and emissions report

Energy Consumption (kWh)

Carbon Emissions (tCO2e)

Intensity Ratio Emission per £million turnover

2025

2024

2025

2024

2025

2024

Diesel

4,356,651

3,757,837

1,130.68

974.25

19.69

18.89

Petrol

8,214

12,819

1.90

2.97

0.03

0.06

Heating OIl

89,973

98,580

24.55

26.90

0.43

0.52

Natural Gas

83,710

7,315

16.97

1.48

0.30

0.03

Electricity

121,171

87,582

21.45

15.50

0.37

0.30

Total

4,659,719

3,964,133

1,195.55

1,021.10

20.82

19.80

2025

Total Scope 1 - 1,174.10

Total Scope 2 - 22.45

Methodology

To determine emissions for the year ended 31 March 2025, the group used a methodology compliant with the Greenhouse Gas ('GHG') Protocol and incorporated the UK Government GHG conversion factors for green-house gas reporting. All energy sources were initially converted to kWH using Carbon Trust Conversion factors.

Electricity consumption and gas usage was based on data taken from meter readings. Fuel consumption was derived from invoice records.The collected consumption data was then converted into kWh and greenhouse gas emissions associated with each activity using the annually updated emission factors from the UK Government.

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £million turnover.

Energy Efficiency Measures Implemented

During the reporting year, the following initiatives were implemented:

1.93% Fleet upgraded to Euro 6 standard with an objective to replace the remaining pre-Euro 6 vehicles with Euro-6 standard vehicles

2.Improved driver behaviour monitoring, reviewed regularly with senior management.

3.Sensor lighting installed in all owned depots.

4.Employee awareness campaign ("Switch Off") launched to baseline energy habits and set reduction goals.

5. CFM have maintained ISO 14001 certified Environmental Management System.

DIRECTORS' RESPONSIBILITIES STATEMENT

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Keenan - Director

12 December 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page six, 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.

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 further 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, environmental regulations and health and safety laws, together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We tailored our response to those identified risks to include enquiring of management and external legal advisors concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with tax authorities and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. We apply professional scepticism throughout the audit to consider deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the group's remuneration policies, and performance targets;

- results of our enquiries of management and other key persons about the group's own policies for the identification and assessment of the risks of irregularities, including those that may occur either as a result of fraud or error, and matters we identified from our review of the group's policies, procedures and internal controls; and

- the matters discussed among the audit engagement team regarding potential indicators of fraud and where it might occur in the financial statements;

- design of audit procedures responsive to those risks that incorporate unpredictability around the nature, timing and extent of our testing.

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.

MICHAEL BARNETT (Senior Statutory Auditor)

for and on behalf of McAleer Jackson Ltd

Chartered Accountants & Statutory Auditors

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

12 December 2025

TURNOVER

3

57,433,240

51,569,389

Cost of sales

50,408,507

45,996,043

GROSS PROFIT

7,024,733

5,573,346

Administrative expenses

3,399,540

2,663,115

3,625,193

2,910,231

Other operating income

147,606

99,958

OPERATING PROFIT

5

3,772,799

3,010,189

Income from fixed asset investments

5,514

4,394

Interest receivable and similar income

243,563

183,838

249,077

188,232

PROFIT BEFORE TAXATION

4,021,876

3,198,421

Tax on profit

6

1,008,523

740,825

PROFIT FOR THE FINANCIAL YEAR

3,013,353

2,457,596

OTHER COMPREHENSIVE INCOME

-

292,278

Income tax relating to other comprehensive income

-

(49,653

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

242,625

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,013,353

2,700,221

Profit attributable to:

Owners of the parent

3,013,353

2,457,596

Total comprehensive income attributable to:

Owners of the parent

3,013,353

2,700,221

FIXED ASSETS

Tangible assets

9

4,051,570

3,963,857

Investments

10

4,207,709

1,087,111

Investment property

11

725,000

725,000

8,984,279

5,775,968

CURRENT ASSETS

Stocks

12

505,858

519,345

Debtors

13

1,885,350

2,008,437

Prepayments and accrued income

6,560,941

8,257,560

Cash at bank

6,925,255

6,916,937

15,877,404

17,702,279

CREDITORS

Amounts falling due within one year

14

8,304,927

9,808,224

NET CURRENT ASSETS

7,572,477

7,894,055

TOTAL ASSETS LESS CURRENT LIABILITIES

16,556,756

13,670,023

PROVISIONS FOR LIABILITIES

18

572,640

547,298

NET ASSETS

15,984,116

13,122,725

CAPITAL AND RESERVES

Called up share capital

19

5,332

5,332

Revaluation reserve

20

242,625

242,625

Capital redemption reserve

20

14,668

14,668

Retained earnings

20

15,721,491

12,860,100

SHAREHOLDERS' FUNDS

15,984,116

13,122,725

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

J Keenan - Director

FIXED ASSETS

Tangible assets

9

844,449

854,599

Investments

10

4,227,509

1,106,911

Investment property

11

725,000

725,000

5,796,958

2,686,510

CURRENT ASSETS

Debtors

13

1,107,227

1,098,920

Cash at bank

5,478,059

6,816,620

6,585,286

7,915,540

CREDITORS

Amounts falling due within one year

14

151,553

77,329

NET CURRENT ASSETS

6,433,733

7,838,211

TOTAL ASSETS LESS CURRENT LIABILITIES

12,230,691

10,524,721

PROVISIONS FOR LIABILITIES

18

35,130

35,418

NET ASSETS

12,195,561

10,489,303

CAPITAL AND RESERVES

Called up share capital

19

5,332

5,332

Revaluation reserve

20

196,466

196,466

Capital redemption reserve

20

14,668

14,668

Retained earnings

20

11,979,095

10,272,837

SHAREHOLDERS' FUNDS

12,195,561

10,489,303

Company's profit for the financial year

1,858,220

3,627,080

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

J Keenan - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

5,332

10,554,466

-

14,668

10,574,466

Changes in equity

Dividends

-

(151,962

)

-

-

(151,962

)

Total comprehensive income

-

2,457,596

242,625

-

2,700,221

Balance at 31 March 2024

5,332

12,860,100

242,625

14,668

13,122,725

Changes in equity

Dividends

-

(151,962

)

-

-

(151,962

)

Total comprehensive income

-

3,013,353

-

-

3,013,353

Balance at 31 March 2025

5,332

15,721,491

242,625

14,668

15,984,116

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

5,332

6,797,719

-

14,668

6,817,719

Changes in equity

Total comprehensive income

-

3,627,080

196,466

-

3,823,546

Dividends

-

(151,962

)

-

-

(151,962

)

Balance at 31 March 2024

5,332

10,272,837

196,466

14,668

10,489,303

Changes in equity

Total comprehensive income

-

1,858,220

-

-

1,858,220

Dividends

-

(151,962

)

-

-

(151,962

)

Balance at 31 March 2025

5,332

11,979,095

196,466

14,668

12,195,561

Cash flows from operating activities

Cash generated from operations

1

4,546,806

4,645,486

Tax paid

(499,352

)

(768,531

)

Net cash from operating activities

4,047,454

3,876,955

Cash flows from investing activities

Purchase of intangible fixed assets

-

(40,000

)

Purchase of tangible fixed assets

(687,610

)

(2,364,815

)

Purchase of fixed asset investments

(3,000,000

)

-

Sale of tangible fixed assets

58,289

46,218

Sale of fixed asset investments

-

434,438

Interest received

122,965

77,878

Dividends received

5,514

4,394

Net cash from investing activities

(3,500,842

)

(1,841,887

)

Cash flows from financing activities

Equity dividends paid

(151,962

)

(151,962

)

Net cash from financing activities

(151,962

)

(151,962

)

Increase in cash and cash equivalents

394,650

1,883,106

Cash and cash equivalents at beginning of year

2

6,530,605

4,647,499

Cash and cash equivalents at end of year

2

6,925,255

6,530,605

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

2025

2024

£

£

Profit before taxation

4,021,876

3,198,421

Depreciation charges

559,425

440,806

Profit on disposal of fixed assets

(17,817

)

(23,420

)

Impairment of intellectual property

-

40,000

Finance income

(249,077

)

(188,232

)

4,314,407

3,467,575

Decrease/(increase) in stocks

13,487

(12,402

)

Decrease/(increase) in trade and other debtors

1,819,706

(2,410,360

)

(Decrease)/increase in trade and other creditors

(1,600,794

)

3,600,673

Cash generated from operations

4,546,806

4,645,486

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

6,925,255

6,916,937

Bank overdrafts

-

(386,332

)

6,925,255

6,530,605

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

6,916,937

4,647,499

Bank overdrafts

(386,332

)

-

6,530,605

4,647,499

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

6,916,937

8,318

6,925,255

Bank overdrafts

(386,332

)

386,332

-

6,530,605

394,650

6,925,255

Total

6,530,605

394,650

6,925,255