REGISTERED NUMBER: 11879415 (England and Wales)

Ensco 1331 Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

C Judah

Y Judah

S Bland

M Simpson

F J Barnes

S T Lock

REGISTERED OFFICE:

Meridian House

Alexandra Dock North

Grimsby

DN31 3UA

REGISTERED NUMBER:

11879415 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

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

REVIEW OF BUSINESS

The company's main activity is that of a holding and management company, providing services to other group companies.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk is the trading of the subsidiaries and possible impairment of the investments. The Board works closely with its management team to anticipate and monitor all financial risks in order to plan and react accordingly to ensure there is minimal effect on the financial performance of the company.

Development and performance

The company will continue as a holding and management company and continue to support other group companies.

Key performance indicators

The company monitors the performance of the subsidiary companies. As the company is a holding and management company only, the directors do not consider there to be any critical key performance indicators.

SECTION 172(1) STATEMENT

The following disclosure describes how the directors have had regard to the matters set out in section 172(1a) - (f) and forms the directors’ statement required under section 414CZA of the Companies Act 2006.

Promoting the success of the company

The Board believes that, individually and collectively, they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in s172(1) (a-f) of the Companies Act 2006, as detailed below, in the decisions taken during the period ended 31 March 2025, when performing their duty to promote the success of the Group as a whole.:

a)

the likely consequences of any decision in the long term,

b)

the interests of the group's employees,

c)

the need to foster the group's business relationships with suppliers, customers and others,

d)

the impact of the group's operations on the community and the environment,

e)

the desirability of the group maintaining a reputation for high standards of business conduct, and

f)

the need to act fairly as between members of the company.

The company’s activities are limited to the payment of directors’ remuneration, the recharge of management costs to the wider group, and the holding of bank loans. In fulfilling their duties, the directors consider the following factors most relevant:

Shareholders and Group Interests

The company exists as part of the wider group Name. Decisions on remuneration and management charges are made in line with group policies and governance frameworks, ensuring transparency and consistency across the group.

Employees

The company has no employees other than its directors. Remuneration decisions are made with reference to market practice and group guidelines, ensuring fairness and alignment with shareholder interests.

Creditors

The directors give due consideration to the company’s obligations under its loan agreements. They ensure that the company maintains appropriate financial resources to meet repayment schedules and covenant requirements, thereby safeguarding the company’s reputation and financial stability.

Other Stakeholders

Given the company’s limited activities, the directors consider that the interests of other stakeholders are most effectively addressed through the group’s governance and stakeholder engagement processes, which the company follows.

The directors believe that, given the nature of the company’s activities, the above considerations appropriately reflect how they have discharged their duties under section 172 during the year. Wider group considerations are considered in detail in Ensco 1330 Limited (immediate parent) consolidated accounts.

ON BEHALF OF THE BOARD:

C Judah - Director

22nd December 2025

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

PRINCIPAL ACTIVITY

The principle activity of the company is that of holding company and management company.

DIVIDENDS

Ordinary dividends were paid amounting to £8,000,000 (2024: £nil). The directors do not recommend the payment of a final dividend.

DIRECTORS

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

C Judah

Y Judah

S Bland

M Simpson

F J Barnes

S T Lock

Qualifying third party indemnity provisions.

The group has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's

strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect future developments, employee information and engagement with others.

GOING CONCERN

The directors have prepared the 31 March 2025 financial statements on a going concern basis. In recent years, the company's activities have increased on the backdrop of further recovery and stabilisation of vehicle supply. In light of relatively volatile inflationary and regulatory costs, the company has been increasingly selective in respect to those services and contracts with which it engages, ensuring long term economic sustainability.

The directors are of the opinion that the company has sufficient resources to continue as a going concern after considering the above issues. The directors have taken appropriate steps to mitigate the impacts of changing macro-economic conditions on the company's trading activity and cash flow. They therefore believe that the company has adequate resources available to meet its liabilities as they fall due allowing the company to continue in operational existence for a period of at least twelve months from the date of the approval of these financial statements.

Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

STREAMLINED ENERGY AND CARBON REPORTING

Carbon reporting

The company is exempt from carbon reporting obligations as they are covered by their intermediate parent Ensco 1330 Limited's group 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;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

C Judah - Director

22nd December 2025

Opinion

We have audited the financial statements of Ensco 1331 Limited (the 'company') for the year ended 31st March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 31st 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 five, 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the United Kingdom Accounting Standards FRS 102, the Companies Act 2006 and tax legislation. We also considered those laws and regulations that may have an indirect material effect on the financial statements including data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-

investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-

agreeing financial statement disclosures to underlying supporting documentation;

-

reading the minutes of meetings of those charged with governance;

-

enquiring of management as to actual and potential litigation and claims; and

-

reviewing correspondence with relevant regulators and the company's legal advisors.

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.

Matthew Fox FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

23rd December 2025

TURNOVER

4

1,805,921

1,880,063

Administrative expenses

1,724,811

1,841,235

OPERATING PROFIT

7

81,110

38,828

Income from shares in group undertakings

2,150,000

1,589,889

Interest receivable and similar income

59,876

50,570

2,209,876

1,640,459

2,290,986

1,679,287

Interest payable and similar expenses

8

559,138

647,349

PROFIT BEFORE TAXATION

1,731,848

1,031,938

Tax on profit

9

(102,289

)

(139,498

)

PROFIT FOR THE FINANCIAL YEAR

1,834,137

1,171,436

FIXED ASSETS

Investments

11

92,836,569

92,836,569

CURRENT ASSETS

Debtors

12

1,284,042

4,198,132

Cash at bank

1,319,526

505,123

2,603,568

4,703,255

CREDITORS

Amounts falling due within one year

13

72,245,817

67,462,141

NET CURRENT LIABILITIES

(69,642,249

)

(62,758,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,194,320

30,077,683

CREDITORS

Amounts falling due after more than one year

14

2,995,000

3,712,500

NET ASSETS

20,199,320

26,365,183

CAPITAL AND RESERVES

Called up share capital

17

2,700

2,700

Retained earnings

18

20,196,620

26,362,483

SHAREHOLDERS' FUNDS

20,199,320

26,365,183

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

C Judah - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2023

2,700

25,191,047

25,193,747

Changes in equity

Total comprehensive income

-

1,171,436

1,171,436

Balance at 31st March 2024

2,700

26,362,483

26,365,183

Changes in equity

Dividends

-

(8,000,000

)

(8,000,000

)

Total comprehensive income

-

1,834,137

1,834,137

Balance at 31st March 2025

2,700

20,196,620

20,199,320

1.	STATUTORY INFORMATION

Company information

Ensco 1331 Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Meridian House, Alexandra Dock North, Grimsby, North East Lincolnshire, DN31 3UA.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Accounting convention

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, including the provisions of the Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008.

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.

The financial statements of the company are consolidated in the financial statements of Ensco 1330 Limited. These consolidated financial statements are available from its registered office, Meridian House, Alexandra Dock North, Grimsby, North East Lincolnshire, DN31 3UA.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Section 33 'Related Party Disclosures' - Compensation for key management personnel.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Going Concern

The directors have prepared the 31 March 2025 financial statements on a going concern basis. In recent years, the company's activities have increased on the backdrop of further recovery and stabilisation of vehicle supply. In light of relatively volatile inflationary and regulatory costs, the company has been increasingly selective in respect to those services and contracts with which it engages, ensuring long term economic sustainability.

The directors are of the opinion that the company has sufficient resources to continue as a going concern after considering the above issues. The directors have taken appropriate steps to mitigate the impacts of changing macro-economic conditions on the company's trading activity and cash flow. They therefore believe that the company has adequate resources available to meet its liabilities as they fall due allowing the company to continue in operational existence for a period of at least twelve months from the date of the approval of these financial statements.

Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue is recognised over the period in which management services are provided.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised 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

Basic financial assets, which include other debtors, amounts owed by group undertakings and cash at bank and in hand 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors and amounts owed to group undertakings, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s contractual obligations are discharged, cancelled, or they expire.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to profit or loss.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the period. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is recognised on income and expenses from subsidiaries that will be assessed to or allow for tax in a future period except where the group is able to control the reversal of the timing difference and it is probable that the timing difference will not reverse in the foreseeable future.

Pension costs and other post-retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the period. Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Dividend Income

Dividend income is recognised when the company's right to receive payment is established.

Fixed asset investments

Interests in subsidiaries and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimate and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of investments

The company reviews the value of its investments for indications of impairment at each period end. If indicators of impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds is recoverable amount.

4.

TURNOVER

The turnover and profit/loss before taxation are attributable to the one principal activity of the company. All turnover is generated by the UK market.

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

997,738

1,036,889

Social security costs

120,797

140,322

Other pension costs

125,399

125,160

1,243,934

1,302,371

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

2025

2024

Administration and other

7

8

6.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Remuneration for qualifying services

862,983

790,251

Company pension contributions to defined contribution schemes

117,231

109,986

980,214

900,237

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024: 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:

2025

2024

£

£

Remuneration for qualifying services

347,885

346,633

Company pension contributions to defined contribution schemes

58,572

56,347

7.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Auditors' remuneration

20,000

15,000

Auditors' remuneration for non audit work

18,400

11,400

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

559,138

464,671

Other loan interest

-

182,678

559,138

647,349

9.

TAXATION

Analysis of the tax credit

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

2025

2024

£

£

Current tax:

UK corporation tax

(723,763

)

(613,430

)

Prior year under/overstatement

(8,382

)

-

Total current tax

(732,145

)

(613,430

)

Deferred tax

629,856

473,932

Tax on profit

(102,289

)

(139,498

)

Reconciliation of total tax credit included in profit and loss

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

2025

2024

£

£

Profit before tax

1,731,848

1,031,938

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

432,962

257,985

Effects of:

Expenses not deductible for tax purposes

2,249

-

Income not taxable for tax purposes

(537,500

)

(397,472

)

Adjustments to tax charge in respect of previous periods

-

(159

)

Adjustments to tax charge in respect of prior period

-

209

Inter-company tax

-

(61

)

Total tax credit

(102,289

)

(139,498

)

10.

DIVIDENDS

2025

2024

£

£

Ordinary shares shares of £1 each

Interim

8,000,000

-

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2024

and 31st March 2025

92,836,569

NET BOOK VALUE

At 31st March 2025

92,836,569

At 31st March 2024

92,836,569

Name of Undertaking

Address

Nature of Business

Class of Shares Held

% Held Direct

% Held Indirect

GBA Group Limited

1

100.00

-

GBA (Holdings) Limited

1

5.00

95.00

G.B. Agencies Limited

1

-

100.00

G.B. Terminals Limited

1

-

100.00

GBA Transport Limited

1

-

100.00

G.B. Shipping & Forwarding Limited

1

-

100.00

Euro Terminal Limited

1

-

100.00

G.B. Motorships Limited

1

-

100.00

GBA Logistics India PVT Limited

2

-

99.90

GBA Technologies Limited

1

100.00

-

Redcliffe Management Services Limited

1

100.00

-

G.B. Terminals (Western) Limited

1

100.00

-

G.B. Terminals (Northern) Limited

1

100.00

-

G.B.T Terminals (Southern) Limited

1

100.00

-

GBA Technical Services Limited

1

100.00

-

Registered office addresses (all UK unless otherwise indicated):

1 Meridian House, Alexandra Dock North, Grimsby, North East Lincolnshire, DN31 3UA

2 Shop No. 03, Shriniwas Co. Op Society, Plot no.RH81, G Block, 411019 Pune, India

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,161,283

2,869,374

Other debtors

122,759

85,692

Tax

-

613,210

Deferred tax asset

-

629,856

1,284,042

4,198,132

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 15)

1,008,750

1,000,000

Other loans (see note 15)

64,833,333

64,833,333

Amounts owed to group undertakings

6,293,248

1,516,870

Tax

20,700

-

Social security and other taxes

46,384

67,975

Accruals and deferred income

43,402

43,963

72,245,817

67,462,141

Bank loans are secured through a cross guarantee with companies within the group and incur interest at the Bank of England base rate plus 4% or 3.25%.