REGISTERED NUMBER: 03883065 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

A T BONE & SONS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

8

Balance Sheet

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

13

DIRECTORS:

D Bone

R Bone

R Bone

REGISTERED OFFICE:

Clements Farm

Brickendon Lane

Brickendon

Herfford

Hertfordshire

SG13 8NS

REGISTERED NUMBER:

03883065 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

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

REVIEW OF BUSINESS

The principal activity continues that be of Agricultural and construction related activities.

Company achieved sales of £12,997,299 (2024 : £10,276,905) and delivered a profit before tax,of £1,903,382 (2024 : £2,249,803). The net assets as at the year-end were £8,173,101 (2024 : £6,872,690).

PRINCIPAL RISKS AND UNCERTAINTIES

Downturns in the economic environment have historically been the biggest threat to the agriculture and construction sector. The company is exposed to changes in Government Policy in the market in which we operate such as changes in agricultural subsidies, employment law, tax law and in the legislation around sensitive data management.

All of these risks are closely monitored and under constant review in order to mitigate any risks, with outcomes such as the adjusting of headcount during a period of economic uncertainty.

FINANCIAL RISKS

The business is exposed to a variety of financial risks including the effects of changes in interest rates, credit risk and client liquidity risk. The business’ principal financial instrument comprise cash and bank deposits, that arise directly from its operations.

The company’s principal financial assets are trade debtors, which represent the Company’s major exposure to credit risk in relation to its financial assets. Reporting in this area covers monthly aged debt for every client as well as overall ledger profiles from the invoicing date taking into account any pre agreed payment terms.

The business has no significant concentration of credit risk, with the exposure spread over a large number of customers. The risk is further mitigated with a strong credit control system with the aim of minimizing any bad debt.

KEY PERFORMANCE INDICATORS

KPI's are used by the company to control actual costs against budget. Monthly management accounts are produced and reviewed by the board together with its professional team. Any significant variations are discussed and action taken if deemed necessary.

The business considers its key performance indicators to be Revenue and Gross profit. The results in these area for 2025 are as follows:

· Revenue - £12,997,299 (2024 - £10,276,905)

· Gross profit £4,177,671 (2024 - £3,528,993)

GOING CONCERN

The company has access to sufficient financial resources to manage its operations. The Company is in a net current liability position but overall it is in net asset position.

The Company has adequate financial resources and has a broad customer base across the different business sectors in the United Kingdom. As a Consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The directors of the company have considered the adoption of the going concern basis in preparing the financial statements given the current economic climate and have formed the conclusion that there are no uncertainties with respect to the company's ability to continue as a going concern for the foreseeable future. In forming this view, the directors have considered the company's budgets and trading forecasts and the committed bank facilities available to the company together with forecast headroom against those borrowing facilities including the impact of reasonable sensitivities and foreseen uncertainties.

The directors continue to closely monitor the potential impacts of overall economic downturn and inflationary impact and economic consequences. We have not identified any material adjustments to balances included in these financial statements.

On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, we continue to adopt the going concern basis in preparing the annual financial statements.

ON BEHALF OF THE BOARD:

R Bone - Director

22 December 2025

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

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of 2,250 per share.

The total distribution of dividends for the year ended 31 March 2025 will be £ 225,000 .

DIRECTORS

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

D Bone

R Bone

R Bone

POLITICAL DONATIONS AND EXPENDITURE

Donations are not political in nature.

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.

ON BEHALF OF THE BOARD:

R Bone - Director

22 December 2025

Opinion

We have audited the financial statements of A T Bone & Sons 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 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:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Company's workforce

- Health and safety regulation, reflecting the Company's production, distribution and operating processes

- Data privacy, reflecting the Company's management of personal and corporate data

- Environmental regulation, reflecting environmental impact restrictions, waste and contamination related to the Company's trading and and operating processes.

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, 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. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and 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.

Zubair Arshad FCCA ACA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

22 December 2025

TURNOVER

12,997,299

10,276,905

Cost of sales

8,819,628

6,747,912

GROSS PROFIT

4,177,671

3,528,993

Administrative expenses

4,782,188

3,467,312

(604,517

)

61,681

Other operating income

3,030,459

2,642,089

OPERATING PROFIT

4

2,425,942

2,703,770

Interest payable and similar expenses

5

522,560

453,967

PROFIT BEFORE TAXATION

1,903,382

2,249,803

Tax on profit

6

377,971

182,791

PROFIT FOR THE FINANCIAL YEAR

1,525,411

2,067,012

Retained earnings at beginning of year

6,872,590

5,140,735

Dividends

7

(225,000

)

(335,157

)

RETAINED EARNINGS AT END OF YEAR

8,173,001

6,872,590

FIXED ASSETS

Tangible assets

8

18,640,392

17,696,893

CURRENT ASSETS

Stocks

9

935,533

782,219

Debtors

10

2,169,711

1,759,219

Cash at bank

2

266,550

3,105,246

2,807,988

CREDITORS

Amounts falling due within one year

11

5,128,970

5,785,107

NET CURRENT LIABILITIES

(2,023,724

)

(2,977,119

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,616,668

14,719,774

CREDITORS

Amounts falling due after more than one year

12

(7,222,761

)

(6,629,630

)

PROVISIONS FOR LIABILITIES

16

(1,220,806

)

(1,217,454

)

NET ASSETS

8,173,101

6,872,690

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

8,173,001

6,872,590

SHAREHOLDERS' FUNDS

8,173,101

6,872,690

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

R Bone - Director

Cash flows from operating activities

Cash generated from operations

1

2,279,655

4,663,581

Interest paid

(504,326

)

(422,107

)

Interest element of hire purchase payments paid

(18,234

)

(31,860

)

Tax paid

(82,221

)

-

Net cash from operating activities

1,674,874

4,209,614

Cash flows from investing activities

Purchase of tangible fixed assets

(2,877,635

)

(8,631,396

)

Sale of tangible fixed assets

594,257

933,550

Net cash from investing activities

(2,283,378

)

(7,697,846

)

Cash flows from financing activities

New loans in year

1,857,500

5,417,787

Capital repayments in year

(1,684,664

)

(2,420,107

)

Amount introduced by directors

46,377

151,197

Amount withdrawn by directors

(159,331

)

-

Equity dividends paid

(225,000

)

(335,157

)

Net cash from financing activities

(165,118

)

2,813,720

Decrease in cash and cash equivalents

(773,622

)

(674,512

)

Cash and cash equivalents at beginning of year

2

79,858

754,370

Cash and cash equivalents at end of year

2

(693,764

)

79,858

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

2025

2024

£

£

Profit before taxation

1,903,382

2,249,803

Depreciation charges

1,625,469

1,326,022

Profit on disposal of fixed assets

(285,590

)

(435,635

)

Finance costs

522,560

453,967

3,765,821

3,594,157

Increase in stocks

(153,314

)

(127,262

)

(Increase)/decrease in trade and other debtors

(410,492

)

102,960

(Decrease)/increase in trade and other creditors

(922,360

)

1,093,726

Cash generated from operations

2,279,655

4,663,581

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

2

266,550

Bank overdrafts

(693,766

)

(186,692

)

(693,764

)

79,858

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

266,550

754,370

Bank overdrafts

(186,692

)

-

79,858

754,370

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank

266,550

(266,548

)

2

Bank overdrafts

(186,692

)

(507,074

)

(693,766

)

79,858

(773,622

)

(693,764

)

Debt

Finance leases

(1,690,294

)

868,296

(821,998

)

Debts falling due within 1 year

(802,920

)

(64,847

)

(867,767

)

Debts falling due after 1 year

(5,972,687

)

(976,285

)

(6,948,972

)

(8,465,901

)

(172,836

)

(8,638,737

)

Total

(8,386,043

)

(946,458

)

(9,332,501

)

1.	STATUTORY INFORMATION

A T Bone & Sons 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.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.

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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

TANGIBLE FIXED ASSETS

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

Long leasehold

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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, 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 measured 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.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

TAXATION

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

HIRE PURCHASE AND LEASING COMMITMENTS

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,561,801

1,779,839

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

2025

2024

Employees

48

41

2025

2024

£

£

Directors' remuneration

65,517

65,600

4.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

93,602

91,463

Other operating leases

148,573

137,409

Depreciation - owned assets

1,625,469

1,326,022

Profit on disposal of fixed assets

(285,590

)

(435,635

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

504,326

422,107

Hire purchase

18,234

31,860

522,560

453,967

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

374,619

-

Prior year corporation tax

-

(112,893

)

Total current tax

374,619

(112,893

)

Deferred tax

3,352

295,684

Tax on profit

377,971

182,791

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Final

225,000

335,157

8.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

10,640,700

12,115,436

238,402

1,510,769

24,505,307

Additions

1,495,507

1,254,533

12,245

115,350

2,877,635

Disposals

-

(874,818

)

-

(246,096

)

(1,120,914

)

At 31 March 2025

12,136,207

12,495,151

250,647

1,380,023

26,262,028

DEPRECIATION

At 1 April 2024

174,680

5,821,666

112,204

699,864

6,808,414

Charge for year

67,296

1,347,597

26,343

184,233

1,625,469

Eliminated on disposal

-

(671,970

)

-

(140,277

)

(812,247

)

At 31 March 2025

241,976

6,497,293

138,547

743,820

7,621,636

NET BOOK VALUE

At 31 March 2025

11,894,231

5,997,858

112,100

636,203

18,640,392

At 31 March 2024

10,466,020

6,293,770

126,198

810,905

17,696,893

These figures include assets held under hire purchase agreements, stated at cost of £2,912,035 (2024: £4,145,984), less accumulated depreciation of £944,787 (2024: £1,004,755), giving a net book value of £1,967,248 (2024: £3,141,228).

9.

STOCKS

2025

2024

£

£

Raw materials

378,470

517,044

Finished goods

557,063

265,175

935,533

782,219

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,690,212

1,204,011

Amounts owed by group undertakings

89,000

89,000

Other debtors

8,523

3,862

VAT

-

119,682

Prepayments and accrued income

381,976

342,664

2,169,711

1,759,219

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 13)

1,561,533

989,612

Hire purchase contracts (see note 14)

548,209

1,033,351

Trade creditors

1,070,735

1,634,340

Tax

374,619

82,221

Social security and other taxes

44,628

36,446

VAT

158,240

-

Other creditors

213,645

199,003

Directors' current accounts

780,537

893,491

Accruals and deferred income

376,824

916,643

5,128,970

5,785,107

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 13)

6,948,972

5,972,687

Hire purchase contracts (see note 14)

273,789

656,943

7,222,761

6,629,630

AMC Bank Limited holds a legal charge over the property.

Handelsbanken Plc have registered an fixed charge on selected land and a floating charges over the undertaking and properties and assets present and future.

Mr & Mrs Williams have registered an fixed charge on selected land & properties.