REGISTERED NUMBER: 05088224 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

J.S. HELD UK LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Statement of Financial Position

8

Statement of Changes in Equity

9

Statement of Cash Flows

10

Notes to the Statement of Cash Flows

11

Notes to the Financial Statements

12

DIRECTORS:

Mr P D Pender-Cudlip

Mr P Worman

Mr J Held

Mr S Katcher

S R Lieberman

Mr L Spirer

SECRETARY:

Mr S Katcher

REGISTERED OFFICE:

18 St. Swithins Lane

Second Floor

London

EC4N 8AD

REGISTERED NUMBER:

05088224 (England and Wales)

AUDITORS:

Cube Partners Limited

Chartered Accountants and Registered Auditors

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The results for the year ended 31 December 2024 are set out in the annexed accounts.

The key measures tracked by the business are turnover, operating profit and gross profit margin. Turnover for the year ended 31 December 2024 was £26,922,924 (2023: £21,420,030) and the operating profit was £1,614,868 (2023: £1,285,201). Gross profit margin was 39% (2023: 40%). Revenue growth was driven by the Builders Risk, Forensic Accounting and Global Investigations practices.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the Company's strategy are subject to a number of risks.

While complex geopolitical dynamics, market volatility and inflation continue to impact people and businesses around the world, the Company's unique position and collection of experts enables it to support clients through these challenges. Therefore, an increased provision for these types of services in this environment could ultimately benefit the Company.

The key business risks affecting the Company are set out below:

Competition

The Company operates in a competitive market where reputation and expertise are the key selling points for professional services firms in this sector. The Company seeks to maintain its competitive advantage through:

- Marketing activity displaying the full range of experts and advice the Company has to offer

- Develop synergies amongst acquired and organically grown divisions to achieve a collaborative approach for clients

- Develop relationships and reputation through expert insight, delivery and operational excellence

Retention of key staff members

The resignation of key individuals and the inability to recruit suitable replacements with the right skills and experience could adversely impact the Company's trading. To mitigate this risk the Company has in place annual bonus schemes for all key staff that are directly related to personal and Company performance. Such schemes are reviewed annually to ensure close alignment with company objectives and individual goal setting, thereby maintaining a motivating level of attainment for the staff involved.

Financial risk management

The Company's operations expose it to levels of financial risk that include the effects of credit risk. The Company has no external debt and is cash generative. Most of the net current assets balance is derived from cash and trade debtors, and the main liability is with other group companies. The client base is comprised of large law and construction firms and insurance companies and therefore the Directors consider credit and liquidity risk to be low.

FUTURE DEVELOPMENTS

The main focus for the Company is to continue providing expert advice to its clients in the core areas of construction advisory, global investigations and forensic accounting. The business will continue to assess the expansion of established US services into international territories with the UK and Europe being at the forefront of this growth outside North America. Environmental Health and Safety advisory is one such service that will develop internationally and initially in the UK region. The Company expects this service line to be established in the coming year, giving organic growth to J.S. Held's global footprint in this area.

J.S. Held continues to establish itself internationally as a trusted advisor to law firms, construction groups and insurers, supporting them in litigation, disputes, arbitration or investigation. The Company will continue to provide these services for the foreseeable future and grow its group of experts to support these projects for its clients.

ON BEHALF OF THE BOARD:

Mr S Katcher - Director

22 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of consultancy services relating to construction, risk assessment and forensic investigation.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

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

Mr P D Pender-Cudlip

Mr P Worman

Mr J Held

Mr S Katcher

S R Lieberman

Other changes in directors holding office are as follows:

Mr L Spirer was appointed as a director after 31 December 2024 but prior to the date of this report.

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 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.

AUDITORS

The auditors, Cube Partners Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Katcher - Director

22 December 2025

Opinion

We have audited the financial statements of J.S. Held UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 December 2024 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 three, 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:

We considered the central laws and regulations and identified those of significance to the entity. The significant laws and regulations include health and safety, the UK Bribery Act, employment laws and UK tax laws. We undertook an enquiry of management and those charged with governance to evaluate those of significance and any instances of non-compliance.

Through discussion, and where appropriate, written representation, we obtained an understanding of the entity’s policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud.

Where necessary, documentation scrutiny was used to determine the significance of any instances of non-compliance of central laws and regulations.

We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

The risk of management override of controls and understatement of revenue were identified to have the greatest risk of material misstatement from irregularities, including fraud, on the financial statements.

Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of regularities, sample testing on the posting of journals, reviewing of regulatory correspondence and professional fees, detailed substantive testing on the completeness of income, and reviewing accounting estimates for biases.

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.

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.

Rachel Markus ACA (Senior Statutory Auditor)

for and on behalf of Cube Partners Limited

Chartered Accountants and Registered Auditors

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

23 December 2025

TURNOVER

3

26,922,924

21,420,030

Cost of sales

16,524,488

12,848,439

GROSS PROFIT

10,398,436

8,571,591

Administrative expenses

8,783,568

8,141,227

1,614,868

430,364

Other operating income

-

854,837

OPERATING PROFIT

5

1,614,868

1,285,201

Interest receivable and similar income

43,254

35,718

1,658,122

1,320,919

Interest payable and similar expenses

6

-

70,044

PROFIT BEFORE TAXATION

1,658,122

1,250,875

Tax on profit

7

417,946

133,367

PROFIT FOR THE FINANCIAL YEAR

1,240,176

1,117,508

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,240,176

1,117,508

FIXED ASSETS

Tangible assets

8

211,120

167,170

Investments

9

552,107

2

763,227

167,172

CURRENT ASSETS

Debtors

10

17,008,705

14,780,897

Cash at bank

5,690,747

1,075,811

22,699,452

15,856,708

CREDITORS

Amounts falling due within one year

11

19,092,539

12,900,827

NET CURRENT ASSETS

3,606,913

2,955,881

TOTAL ASSETS LESS CURRENT LIABILITIES

4,370,140

3,123,053

PROVISIONS FOR LIABILITIES

13

7,677

766

NET ASSETS

4,362,463

3,122,287

CAPITAL AND RESERVES

Called up, fully paid share capital

14

4,401

4,401

Share premium

15

342

342

Capital redemption reserve

15

2,852

2,852

Retained earnings

15

4,354,868

3,114,692

SHAREHOLDERS' FUNDS

4,362,463

3,122,287

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:

Mr S Katcher - Director

Called

up, fully

paid

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

4,401

1,997,184

342

2,852

2,004,779

Changes in equity

Total comprehensive income

-

1,117,508

-

-

1,117,508

Balance at 31 December 2023

4,401

3,114,692

342

2,852

3,122,287

Changes in equity

Total comprehensive income

-

1,240,176

-

-

1,240,176

Balance at 31 December 2024

4,401

4,354,868

342

2,852

4,362,463

Cash flows from operating activities

Cash generated from operations

1

2,085,814

(5,256,964

)

Interest paid

-

(70,044

)

Tax paid

(1,040,686

)

24,467

Net cash from operating activities

1,045,128

(5,302,541

)

Cash flows from investing activities

Purchase of tangible fixed assets

(140,039

)

(263,771

)

Purchase of fixed asset investments

(552,105

)

-

Interest received

43,254

35,718

Net cash from investing activities

(648,890

)

(228,053

)

Cash flows from financing activities

Change in amounts owed to group

5,681,064

7,547,851

Change in amounts owed from group

(1,462,366

)

(1,627,160

)

Net cash from financing activities

4,218,698

5,920,691

Increase in cash and cash equivalents

4,614,936

390,097

Cash and cash equivalents at beginning of year

2

1,075,811

685,714

Cash and cash equivalents at end of year

2

5,690,747

1,075,811

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

2024

2023

£

£

Profit before taxation

1,658,122

1,250,875

Depreciation charges

96,089

161,591

Loss on disposal of fixed assets

-

3,429

Finance costs

-

70,044

Finance income

(43,254

)

(35,718

)

1,710,957

1,450,221

Increase in trade and other debtors

(300,145

)

(7,863,046

)

Increase in trade and other creditors

675,002

1,155,861

Cash generated from operations

2,085,814

(5,256,964

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

5,690,747

1,075,811

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,075,811

685,714

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

1,075,811

4,614,936

5,690,747

1,075,811

4,614,936

5,690,747

Total

1,075,811

4,614,936

5,690,747

1.	STATUTORY INFORMATION

J.S. Held UK 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.

Basis of non-consolidation of subsidiaries

The company is a parent undertaking for the purposes of FRS 102 Section 9 - Consolidated and Separate Financial Statements. However, the directors have concluded that the company is not required to prepare consolidated financial statements as the results, assets, liabilities and cash flows of its subsidiary undertakings are not material, either individually or in aggregate, to the group.

Accordingly, in accordance with FRS 102.9.3A, the directors have exercised their judgement that the preparation of consolidated financial statements would not provide additional useful information to the users of the financial statements.

Significant judgements and estimates

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of debtors

The Company makes an estimated provision of the recoverable value of trade debtors. This is done by providing for an estimated percentage of fee income of 1.2%. This is in line with worldwide group policy and is reviewed regularly by the board to ensure it is reasonable.

(iii) Accrued income

Recognised amounts of contract revenue and related accrued income reflect management's best estimate of each contract's outcome and stage of completion. This includes the assessment of profitability of ongoing contracts. For more complex contracts; in particular those that are ongoing and may expand as a consequence of our findings, the costs of completion and contract profitability are sometimes uncertain.

Revenue recognition

Revenue from rendering of services is recognised at the fair value of consideration received or receivable and represent amounts receivable for the services provided during the normal course of business.

Revenue from service contracts is recognised using the percentage of completion method, measured by the percentage of time incurred to the total estimated time for each contract. Contract cost include all direct professional services and those indirect costs related to contract performance. When estimates indicate a probable ultimate loss, the full amount of loss is accrued.

Revenue excludes value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

Over the term of the lease

Computer equipment

-

Straight line over 3 to 5 years

Fixture and fitting

-

Straight line over 7 years

Investments in subsidiaries

Investments in subsidiaries are stated at cost less any provisions for impairment. Investments in subsidiaries are reviewed annually and if the carrying value of the subsidiary is less than the cost then this will be impaired.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties, promissory notes and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Promissory notes are issued with a two year expiry date. Once the two years have expired, the loan is forgiven and all appropriate taxes are applied. If the two year expiry period is not reached, the promissory note is repayable in full. Interest on promissory notes is charged at the HMRC approved rate.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

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

Hire purchase and leasing commitments

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.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

5,476,765

4,357,345

Europe

4,223,591

3,360,313

Asia

9,232,082

7,345,096

Africa

1,349,354

1,073,554

North America

6,641,132

5,283,722

26,922,924

21,420,030

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

13,638,102

11,076,235

Social security costs

1,640,213

1,309,979

Other pension costs

705,643

510,806

15,983,958

12,897,020

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

2024

2023

Administration

14

10

Business - client facing

78

62

Management

8

6

100

78

2024

2023

£

£

Directors' remuneration

438,059

525,559

Directors' pension contributions to money purchase schemes

20,000

17,000

Information regarding the highest paid director is as follows:

2024

2023

£

£

Emoluments etc

239,309

275,000

Pension contributions to money purchase schemes

10,000

8,500

5.	OPERATING PROFIT

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

2024

2023

£

£

Information and research

2,838,487

1,950,286

Depreciation - owned assets

96,089

161,591

Loss on disposal of fixed assets

-

3,429

Auditors' remuneration

24,500

16,000

Exchange gains and losses

164,241

(37,900

)

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Other interest

-

7,237

Intercompany interest

-

62,807

-

70,044

7.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

411,035

139,500

Deferred tax

6,911

(6,133

)

Tax on profit

417,946

133,367

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:

2024

2023

£

£

Profit before tax

1,658,122

1,250,875

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

414,531

312,719

Effects of:

Expenses not deductible for tax purposes

3,415

(179,352

)

Total tax charge

417,946

133,367

8.	TANGIBLE FIXED ASSETS

Improvements

Fixture

to

Computer

and

property

equipment

fitting

Totals

£

£

£

£

COST

At 1 January 2024

30,808

315,103

41,001

386,912

Additions

46,180

93,859

-

140,039

At 31 December 2024

76,988

408,962

41,001

526,951

DEPRECIATION

At 1 January 2024

30,586

167,753

21,403

219,742

Charge for year

1,372

88,958

5,759

96,089

At 31 December 2024

31,958

256,711

27,162

315,831

NET BOOK VALUE

At 31 December 2024

45,030

152,251

13,839

211,120

At 31 December 2023

222

147,350

19,598

167,170

9.	FIXED ASSET INVESTMENTS

Shares in

group

Unlisted

undertakings

investments

Totals

£

£

£

COST

At 1 January 2024

1

1

2

Additions

552,105

-

552,105

At 31 December 2024

552,106

1

552,107

NET BOOK VALUE

At 31 December 2024

552,106

1

552,107

At 31 December 2023

1

1

2

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

J.S Held Spain S.L

Registered office: Calle de Sor Ángela de la Cruz 2, 2C, Madrid, Spain 28020

Nature of business:

%

Class of shares:

holding

Ordinary

32.00

2024

2023

£

£

Aggregate capital and reserves

1,720,848

1,348,246

Profit for the year

435,694

3,115