RICHFORD MOTOR SERVICES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTOR:

P C Richford

REGISTERED OFFICE:

Dunsford Road

Meadow Lane Industrial Estate

Alfreton

Derbyshire

DE55 7RH

REGISTERED NUMBER:

03626276 (England and Wales)

SENIOR STATUTORY AUDITOR:

Hari Vasdev MEng FCA

AUDITORS:

Sibbalds Limited

Chartered Accountants and Statutory Auditor

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Richford Motor Services Ltd are a leading Vehicle Recovery Operator within the UK, operating out of 13 depots with more coming online once secured and fully refurbished. We are always on the lookout for new sites that will be a good fit for our business and customer requirements. Our Financial accounts reflect continued solid trading and a robust Balance Sheet, despite a higher cost base and challenging economic conditions. The company is financially stable, allowing for investment in new vehicles and new depots and, therefore, delivering the capacity for continued growth, now that our fleet has been substantially renewed and a larger operating area can be covered.

The Recovery Industry continues to be a challenging and competitive market, work volumes fluctuate daily and, therefore, can just like the weather, be unpredictable. We will always strive to provide the best and most reliable service to our customers and our business model and ongoing solid performance shows our continued ability to adapt to this challenging environment.

The director regards turnover, gross profit margin and EBITDA as the key performance indicators of the business.

Turnover declined by 4.72% from £15.2m in 2024 to £14.34m in 2025, largely down to a decrease in storage income, which had been boosted during the period following Covid-19.

Gross profit margin has decreased slightly by 2.3% to 80.5% (2024: 82.8%) due to a change in our sales mix to include more sales of vehicles and equipment. We now act as agents for First Mover machinery. Fuel costs have been more predictable this year, and we monitor this on a weekly basis.

EBITDA has decreased from £4.151m in 2024 to £2.706m in 2025, because of the factors outlined above and a general inflationary increase in operating costs such as salaries and insurance.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company manages its exposure to financial risk by researching credit worthiness of customers. Our accounts team report to the Managing Director weekly and liaise with account managers to reduce overdue debtors.

Quarterly Management Accounts provide accurate financial performance of the Company and provide reassurance to financial bodies.

We remain dynamic and versatile spreading our customer base across various work providers ensuring constant workflow to complement our vehicles, plant, machinery, and employees.

We have a dedicated team monitoring our fuel prices and consumption and liaising with fuel providers to determine the best price per litre to protect our profitability. Fuel prices have been more stable in the last year, having been extremely volatile during the previous trading period.

FUTURE DEVELOPMENTS

The Company continues to tender for new vehicle recovery contracts and works hard to retain existing contracts. The EV and alternative fuel market will continue to grow and develop, although at a slower rate than originally anticipated, and we are confident that opportunities for future growth will arise in this area. We are continuing to invest in and supply the First Mover compact battery-operated vehicle mover and other compact removal solutions for EV's and future alternative fuelled vehicles and machinery. Since the year-end we have noticed a sharp increase in these types of recoveries, and we expect that trend to continue. As noted above, we will continue to monitor the availability of new sites that will complement our existing depots and extend our operating area and enable the continued expansion of the business.

VEHICLE AVAILABILITY ISSUES

We have been responsive to the introduction and expansion of Clean Air Zones and the investment in our fleet ensures that we are compliant with the latest emission standards. Our Fleet renewal programme is almost complete.

ENVIRONMENTAL MATTERS

The company is acutely aware of the environmental impact of the vehicle recovery industry and the need to contribute to a reduction and hopefully a reversal of climate change. We are currently finalising our environmental policy before applying for ISO accreditation and continue investigating and investing in the various options available for reducing our carbon footprint.

ON BEHALF OF THE BOARD:

P C Richford - Director

22 December 2025

The director presents his 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 vehicle recovery and repair.

DIVIDENDS

Interim dividends were paid on 30 June 2024 to Richford Holdings Limited totalling £150,000. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £150,000.

DIRECTOR

P C Richford held office during the whole of the period from 1 April 2024 to the date of this report.

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

The company's financial assets and liabilities consist of trade debtors and creditors, cash and bank balances, bank loans and overdrafts, finance leases and hire purchase contracts.

The director manages the company's exposure to financial risk by researching the credit worthiness of customers, imposing reduced payment terms for certain accounts, and by seeking advice from providers of finance and financial advisors who know the industry.

The company does not trade in foreign currencies.

The company does not trade speculatively in derivatives or similar instruments.

DISCLOSURE IN THE STRATEGIC REPORT

Certain matters required by regulation to be dealt with in the Report of the Director have been dealt with in the Strategic Report. These include future developments.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

P C Richford - Director

22 December 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102 and Companies Act 2006.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

-Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Obtaining third-party confirmation of material bank balances.

- Documenting and verifying all significant related party and consolidated balances and transactions.

-Reviewing sensitive expense accounts for evidence of non-compliance with laws and regulations or fraud.

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.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

-

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Hari Vasdev MEng FCA (Senior Statutory Auditor)

for and on behalf of Sibbalds Limited

Chartered Accountants and Statutory Auditor

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

23 December 2025

TURNOVER

3

14,162,608

15,049,026

Cost of sales

3,271,744

3,155,588

GROSS PROFIT

10,890,864

11,893,438

Administrative expenses

8,733,254

8,361,457

OPERATING PROFIT

5

2,157,610

3,531,981

Interest receivable and similar income

78,057

19,122

2,235,667

3,551,103

Interest payable and similar expenses

6

955,069

700,738

PROFIT BEFORE TAXATION

1,280,598

2,850,365

Tax on profit

7

415,596

1,134,364

PROFIT FOR THE FINANCIAL YEAR

865,002

1,716,001

Retained earnings at beginning of year

9,494,699

7,928,698

Dividends

8

(150,000

)

(150,000

)

RETAINED EARNINGS AT END OF YEAR

10,209,701

9,494,699

FIXED ASSETS

Tangible assets

9

16,269,259

13,434,244

CURRENT ASSETS

Stocks

10

824,925

241,492

Debtors

11

4,805,651

4,263,033

Cash at bank

3,440,271

4,300,079

9,070,847

8,804,604

CREDITORS

Amounts falling due within one year

12

4,724,403

3,759,317

NET CURRENT ASSETS

4,346,444

5,045,287

TOTAL ASSETS LESS CURRENT LIABILITIES

20,615,703

18,479,531

CREDITORS

Amounts falling due after more than one year

13

(7,423,805

)

(6,418,231

)

PROVISIONS FOR LIABILITIES

17

(2,982,193

)

(2,566,597

)

NET ASSETS

10,209,705

9,494,703

CAPITAL AND RESERVES

Called up share capital

18

4

4

Retained earnings

10,209,701

9,494,699

SHAREHOLDERS' FUNDS

10,209,705

9,494,703

The financial statements were approved and authorised for issue by the director and authorised for issue on 22 December 2025 and were signed by:

P C Richford - Director

Cash flows from operating activities

Cash generated from operations

25

2,784,005

3,851,347

Interest paid

(24,008

)

(57,992

)

Interest element of finance lease payments paid

(931,061

)

(642,746

)

Tax paid

147,260

(8,998

)

Net cash from operating activities

1,976,196

3,141,611

Cash flows from investing activities

Purchase of tangible fixed assets

43,212

(254,318

)

Sale of tangible fixed assets

2,036,347

849,800

Interest received

78,057

19,122

Net cash from investing activities

2,157,616

614,604

Cash flows from financing activities

Loan repayments in year

(186,085

)

(181,822

)

Capital repayments in year

(3,852,932

)

(2,077,565

)

Amount introduced by the director

164,900

170,091

Amount withdrawn by the director

(600,725

)

(170,864

)

Amounts loaned to other group companies

(368,778

)

-

Equity dividends paid

(150,000

)

(150,000

)

Net cash from financing activities

(4,993,620

)

(2,410,160

)

(Decrease)/increase in cash and cash equivalents

(859,808

)

1,346,055

Cash and cash equivalents at beginning of year

26

4,300,079

2,954,024

Cash and cash equivalents at end of year

26

3,440,271

4,300,079

1.	STATUTORY INFORMATION

Richford Motor Services 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 company has changed its financial year end from 30 September to 31 March and this is the first financial reporting period adopting the new year end date, hence the extended 18 month period. For this reason, the comparative information is not entirely comparable.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions regarding the carrying amounts of the company's assets and liabilities. These are based on historical experience and other factors that are considered relevant. They are reviewed on a regular basis and changes recognised in the period in which the estimate is revised. Actual results may differ from these estimates.

The following are the critical accounting judgements and key sources of estimation uncertainty:

Tangible fixed assets are depreciated over their useful economic lives taking into account their residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

The recoverability of debtors is assessed on the likelihood and circumstances of the particular charge.

Turnover

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

Turnover represents the amounts derived from the provision of goods and services to customers during the year. Revenue is recognised in the income statement when a right to the consideration has been obtained through performance.

Tangible fixed assets

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

Leasehold Improvements

-

2% on cost

Plant and machinery

-

15% on reducing balance and 10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

10% on cost and 5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents the invoiced cost of materials on a first in first out basis.

Taxation

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.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

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

Financial assets and liabilities

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans, are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3.

TURNOVER

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

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

5,059,836

4,664,720

Social security costs

509,976

459,930

Other pension costs

97,154

179,159

5,666,966

5,303,809

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

2025

2024

Administrative

7

7

Operational

122

119

129

126

2025

2024

£

£

Director's remuneration

40,212

36,412

Director's pension contributions to money purchase schemes

2,861

2,541

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

Money purchase schemes

1

1

5.	OPERATING PROFIT

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

2025

2024

£

£

Operating lease payments

within cost of sales

38,285

11,723

Operating lease payments

within administrative expenses

1,385,422

1,226,876

Depreciation - owned assets

134,838

269,307

Depreciation - assets on finance leases

1,110,895

1,061,014

Profit on disposal of fixed assets

(697,196

)

(626,527

)

Auditors' remuneration

23,150

25,250

Foreign exchange differences

4,713

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Loan interest

24,008

57,992

Finance lease interest

931,061

642,746

955,069

700,738

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax

415,596

1,134,364

Tax on profit

415,596

1,134,364

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

1,280,598

2,850,365

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

320,150

712,591

Effects of:

Expenses not deductible for tax purposes

21,271

6,567

Utilisation of tax losses

13,599

21,499

Adjustments to tax charge in respect of previous periods

28,588

452,284

Other permanent differences

31,988

(58,577

)

Total tax charge

415,596

1,134,364

In his budget of 3 March 2021. the Chancellor of the Exchequer announced that the UK corporation tax rate will remain at 19% for the years starting 1 April 2021 and 1 April 2022, before increasing to 25% for companies with profits over £250,000 for the year starting 1 April 2023. This has been reflected in the company's financial statements in the current and future years and deferred tax has subsequently been provided at this rate. This will impact the amount of future cash tax payments made by the company.

In the future, the company expects to be able to continue to claim capital allowances in excess of depreciation.

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

150,000

150,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Motor

Improvements

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

1,518,234

730,205

237,254

16,989,122

19,474,815

Additions

458,879

156,174

13,096

4,792,756

5,420,905

Disposals

-

-

(18,028

)

(2,250,732

)

(2,268,760

)

At 31 March 2025

1,977,113

886,379

232,322

19,531,146

22,626,960

DEPRECIATION

At 1 April 2024

231,050

461,421

145,497

5,202,603

6,040,571

Charge for year

30,716

54,104

14,180

1,146,733

1,245,733

Eliminated on disposal

-

-

(16,692

)

(911,911

)

(928,603

)

At 31 March 2025

261,766

515,525

142,985

5,437,425

6,357,701

NET BOOK VALUE

At 31 March 2025

1,715,347

370,854

89,337

14,093,721

16,269,259

At 31 March 2024

1,287,184

268,784

91,757

11,786,519

13,434,244

The net book value of tangible fixed assets includes £ 13,604,834 (2024 - £ 11,420,654 ) in respect of assets held under finance leases.

10.

STOCKS

2025

2024

£

£

Raw materials and consumables

824,925

241,492

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,053,643

1,245,470

Amounts owed by group undertakings

2,089,612

1,720,834

Other debtors

218,360

118,591

Director's current account

703,096

267,271

Prepayments and accrued income

740,940

910,867

4,805,651

4,263,033