REGISTERED NUMBER: 02235387 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 May 2025

for

TURLEY ASSOCIATES LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

8

Report of the Independent Auditors

10

Consolidated Income Statement

14

Consolidated Other Comprehensive Income

15

Consolidated Balance Sheet

16

Company Balance Sheet

17

Consolidated Statement of Changes in Equity

18

Company Statement of Changes in Equity

19

Consolidated Cash Flow Statement

20

Notes to the Consolidated Cash Flow Statement

21

Notes to the Consolidated Financial Statements

22

Directors:

C M R Poppitt

S C Bell

R J Peters

A E Reeve

J M Turner

N R H Jones

M Jones

R M Laming

K Lightbody

C P Morrison

M A Underwood

Secretary:

C M R Poppitt

Registered office:

Level 5

Transmission

6 Atherton Street

Manchester

M3 3GS

Registered number:

02235387 (England and Wales)

Auditors:

S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

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

Review of business

The results of the Group for the year are set out in the Consolidated Income Statement on page 14. During the year, the Group's turnover increased to £33.1m (2024: £30.8m), resulting in a profit before tax of £0.8m (2024: £1.0m).

The turnover for the year is a combination of an increase in activity and an uplift in rates, with the resulting profit before tax being impacted by increased costs, predominantly as a result of inflation, salary increases and the inclusion of a £1.8m distribution pool (2024: £nil).

The results include a charge for share based payments of £0.3m (2024: £0.3m) which represents a provision for committed distributions based on the recent trading performance of the Group and its increase in net assets over a 10-year period.

Performance for the year was a profit before tax of £0.8m (2024: £1.0m). The results are significantly influenced by distributions, particularly performance-related bonuses, but also employee ownership dividends and charitable donations.

The directors take a view each year which seeks to balance those distributions with a judgement as to the profit and cash to be retained in the business for reinvestment and to maintain its assets base.

Principal risks and uncertainties

The directors consider that the principal risks facing the business are:

- The loss of, or reduction in activity in, the UK property market,

- The loss of, or reduction in activity by, key clients,

- The loss of, or failure to attract and retain, key personnel.

The directors have implemented strategies and actions to mitigate these risks to the extent that they are within their control. These include strategies for business development, client relationship management and people.

Section 172(1) statement

Section 172 of the Companies Act 2006 requires directors to promote the success of the company for the benefit of shareholders as a whole. As an employee owned business, our people are at the heart of decision making, we aim to shape a more sustainable future, working collaboratively with our clients to deliver places and communities that thrive.

The new Company Strategy sets out an ambitious direction for the business. It identifies priorities where we see the greatest opportunity and need for focus, aligned with our vision, purpose and values (Compassionate, Collaborative, and Responsibility) which are supported by our attributes (behaviours).

Our strategy seeks to create space for and encourage broader contribution to our success - where co-owner entrepreneurialism is fostered, and all can play their part. This is captured in a number of 'catalysts' which include, employee ownership - how we make employee ownership even more meaningful; equity, diversity and inclusion; Environmental, Social and Governance, BCorp and beyond (considering regenerative practice); and our people focus.

The directors therefore consider our co-owners, clients, the environment and our communities to be our main stakeholders, and central to our considerations for any decision making to ensure the long-term success of the business.

- We are employee owned, with a clear focus on our people, promoting equity and social value alongside rewarding career development and progression to ensure we retain the best people in the business.

- We operate a distributed leadership model with Company Directors meeting bi-annually and our Leadership Team meeting once per month. Our Governance Framework sets out our governance approach to decision making and reviewing progress against our short, medium and longer-term goals. Company Directors maintain fiduciary duties and responsibility for financial and organisational health of the business, ESG and health and safety.

- We strive to shape more resilient and sustainable places, not just through the work that we do, but also how we work, we are looking to go beyond carbon neutrality and are working towards Science Based Targets with the aim of being a net zero business by 2050 (or sooner if we can). To support this, co-owners have commenced Carbon Literacy Training which will work towards our pledges for Carbon Literacy Silver level certification.

- We have a charitable trust funded by donations from the company and co-owners, that provides funds for the preservation, conservation and protection of the environment; the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities; and the promotion of sustainable means of achieving economic growth and regeneration (meeting the needs of the present without compromising the ability of future generations to meet their needs).

Following each financial year, the directors determine a distribution pool in line with our policy to combine the return of value to co-owners, support our charitable trust and retain sufficient funds within the business to support future growth and development in terms of our strategic aims.

Key performance indicators

The Group's key financial performance indicators during the year were turnover, profit before tax and cash at bank.

Disabled employees

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of co-owners (employees) becoming disabled, every effort is made to ensure that their employment within the Group continues and reasonable adjustments are made wherever possible and appropriate training is arranged.

Engagement with employees

As an employee owned group Turley's policy is to consult and discuss with co-owners, through forums and at meetings, matters likely to affect co-owners' interests.

Information about matters of concern to co-owners is given through information updates on the Group's intranet, reports and team meetings which seek to achieve a common awareness on the part of all co-owners of the financial and economic factors affecting the Group's performance.

Corporate culture and ethics

Our Ethics Framework is informed by our Environmental, Social and Governance principles, and our ESG strategy is based on the following three principles:

1. Our employee-owned business will remain a force for good and we will maximise our positive impacts including:

Planet - the environment

People - our co-owners and clients

Places - the communities we serve

Profit - we strive to be a commercial and profitable business.

We make our own decisions about how we generate and manage our profit. This includes:

- Considering our values and ethics framework in accordance with our projects and client relationships

- Distributions to co-owners recognising contributions

- Re-investment in the company

- Supporting charities and social value within the communities that we serve

- Maintaining cash reserves to support business resilience.

2. We support the achievement of the United Nations Sustainable Development Goals (UNSDGs) through our work, projects, and carbon financing.

3. We have submitted our application for B Corp certification in an effort to join the community of organisations who, like Turley, are purpose-driven. We are awaiting the outcome of our assessment and verification before we can be formally certified, which we hope to finalise during FY26.

Compliance

We are governed by a system of controls that includes our Group's minimum standards. These standards are monitored by an internal audit process to ensure compliance in areas including risk management, control environment and activities, information and communication, and the evaluation and effectiveness to deliver robust commercial risk management.

Health, Safety and Environment

The business supports a culture where health, safety and co-owner wellbeing are important aspects of our culture. We have relevant policies, procedures, support, learning and development in place. People are encouraged to raise any concerns they may have with their line manager, Business Leader or a member of the People and Culture team.

Continual development and improvement of all risk management and control systems within the business and maintaining our full suite of externally accredited ISO certifications, is key to achieving best practice. Reduction of our carbon footprint and minimising operational waste to landfill remain priorities for the business.

Equity, Diversity and Inclusion (EDI)

The business is committed to developing, maintaining and supporting a culture of EDI. Training has been provided to senior leadership and an EDI plan is in place over the next three years to increase diversity at all levels in the Group.

We are fully inclusive and supportive of all co-owners to enable them to develop their careers within our company.

EDI is an important aspect of our business strategy and we maintain our people focus to nurture talent, and build an even more inclusive, equitable and employee-owned company, to ensure we remain competitive to clients, co-owners and new recruits and to reflect the richness of society.

We will:

- Cultivate an even more inclusive and equitable culture to broaden diversity within our company.

- Promote gender equity; close our gender pay gap; and broaden diversity in leadership and decision-making.

- Implement Gender Mainstreaming (GM) across our products and services.

- Drive inclusive business processes and recruitment practices.

Equal Opportunities

The company considers all forms of discrimination to be unacceptable in the workplace and is committed to providing equal opportunities throughout employment, including in the remuneration, recruitment, training and promotion of all co-owners.

The company is committed to ensuring that no co-owner receives less favourable treatment or is unlawfully discriminated against on grounds of age; disability; gender transition; marriage and civil partnership; pregnancy and maternity; race; religion or belief; sex; and sexual orientation.

We are committed to equity, diversity and inclusion in all aspects of recruitment and employment.

Secr report 2024/25

Introduction

The Streamlined Energy and Carbon Reporting (SECR) regulations came into force on the 1st April 2019, when the Companies' (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 came into force. These regulations require additional reporting on carbon emissions, energy consumption and energy efficiency by quoted companies, with new reporting requirements for large unquoted companies and large Limited Liability Partnerships (LLPs).

The reporting framework is intended to encourage the implementation of energy efficiency measures, with both economic and environmental benefits, supporting businesses in cutting costs and reducing carbon emissions.

Eligibility

Turley meets at least two of the following criteria for the most recent financial year (2024-25), so must disclose their UK electricity, gas and transport energy consumption and associated emissions:

- Turnover over £36m

- Assets of over £18m

- More than 250 employees

Turley is a UK-incorporated company, which is not listed on a stock exchange such as the London Stock Exchange, so is classed as a Non-Quoted Large Company.

Reporting period

The reporting period for Turley operations in the United Kingdom (UK) is from 1st June 2024 to 31st May 2025 and this meets the requirements of the SECR regulations.

Reporting boundaries

As a large unquoted company, Turley is obliged to report its UK energy use and associated greenhouse gas emissions relating to gas, electricity and transport fuel, as well as an intensity ratio and information relating to energy efficiency actions.

An 'operational control' approach has been used to define the Greenhouse Gas emissions boundary. This approach captures emissions associated with the operation of all Turley's UK offices, plus fuel used in personal/hire cars on business use (including fuel for which the organisation reimburses its employees following claims for business mileage).

This report covers UK operations only as required by SECR for Non Quoted Large companies.

Methodology

This report has been prepared in accordance with the March 2019 HM Government Environmental Reporting Guidelines (SECR Reporting Guidelines) . The Greenhouse Gas Protocol Corporate Accounting and Reporting Standard has been followed as the methodology to calculate the energy and carbon reporting and emissions factors sourced from the UK Government GHG Conversion Factors for Company Reporting 2023 have been utilised.

Energy totals are reported in kilowatt-hours (kWh) and GHG totals are reported in tonnes of carbon dioxide equivalent (tCO2e).

The chosen intensity measurement ratio is tCO2e per total £m sales revenue.

Table 1 below shows Turley's energy consumption and subsequent GHG emissions for the reporting period.

Table 1 GHG assessment results

Reporting Parameter

Reporting Year

1st June 2024 - 31st May 2025

Energy consumption from combustion of gas (kWh)

11,257

Energy consumption from purchased electricity (kWh)

530,361

Energy consumption from business travel in rental cars or employee-owned vehicles where company is responsible for purchasing the fuel (kWh)

89,502

Total kWh

631,120

Emissions from combustion of gas tCO2e (Scope 1)

2.1

Emissions from purchased electricity (Scope 2, location-based), tCO2e

109.8

Emissions from business travel in rental cars or employee-owned vehicles where company is responsible for purchasing the fuel (Scope 3), tCO2e

21.2

Total gross emissions (Scope 1, Scope 2 Location-Based, Scope 3) (tCO2e)

133.1

Intensity ratio: tCO2e (total gross emissions) per total £m sales revenue

4.02

Methodology

GHG Protocol

Energy efficiency actions

- Ongoing commitment to Science Based Targets (Scopes 1 & 2)

- Working towards 30% of co-owners (employees) to be carbon literate by end December 2025

- Maintaining Bronze Carbon Literate status and working towards Silver

- Energy efficiencies maintained into office relocation criteria

- Continuing with ISO14001 and implementation of our ESG strategy

- Turley's informal 'Green Team' network refreshed and welcomed new team members from our Assistant Development Programme

On behalf of the board:

J M Turner - Director

23 December 2025

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

Principal activity

The principal activity of the group in the year under review was that of the provision of planning and associated professional consultancy services.

Dividends

No dividends will be distributed for the year ended 31 May 2025.

The results for the year are set out on page 14.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Future developments

The directors consider that current market conditions remain uncertain, and have carried out scenario planning for a variety of possible outcomes, with supporting contingency plans in place. The directors remain confident of the Group's underlying profitable performance for the year ending 31 May 2026.

Directors

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

C M R Poppitt

S C Bell

R J Peters

A E Reeve

J M Turner

Other changes in directors holding office are as follows:

P G Deehan - resigned 24 March 2025

R Mascall - resigned 31 May 2025

D J Trimingham - resigned 31 December 2024

N R H Jones , M Jones , R M Laming , K Lightbody , C P Morrison and M A Underwood were appointed as directors after 31 May 2025 but prior to the date of this report.

Financial instruments

The Group holds or issues financial instruments in order to achieve three main objectives, being:

- To finance its operations,

- To manage its exposure to interest risks arising from its operations;

- For trading purposes

In addition, various financial instruments arise directly from the Group's operations.

The Group closely monitors its credit risk and considers that its current policy of credit checks, and active management of outstanding debt meets its objectives of managing exposure to credit risk.

Amounts shown in the Balance sheet represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

Qualifying third party indemnity provisions

During the year, the company had both Directors' liability and Public indemnity insurance in place.

Going concern

After performing their assessment and making appropriate enquiries, the directors have a reasonable

expectation that the Group will remain a going concern for the foreseeable future and accordingly, the financial statements have been prepared on a going concern basis. The results and conclusions of the going concern assessment are described in more detail in note 3 of the Financial Statements.

Statement of directors' responsibilities

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

On behalf of the board:

J M Turner - Director

23 December 2025

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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. 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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page nine, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company’s industry and regulation.

We understand that the group complies with the framework through:

- Outsourcing payroll, accounts preparation and tax compliance to external experts

- Consulting with external experts where required and making changes to internal procedures and controls as necessary

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the company’s ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the group:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements

- UK taxation law

We performed the following specific procedures to gain evidence about compliance with significant laws and regulations:

- Discussions were held with key management personnel regarding how the entity complies with significant laws and regulations

The senior statutory auditor led a discussion with the audit team regarding the susceptibility of the entity’s financial statements to material misstatement including how fraud might occur.

The areas identified in this discussion were:

- Manipulation of the financial statements, especially revenue, via fraudulent journal entries, particularly as the size of the company means that there is little opportunity for segregation of duties.

- Revenue recognition, in particular the occurrence of revenue.

The procedures we carried out to gain evidence in the above areas included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Testing journal entries, with risk-based approach using data analytics, focusing particularly on those which were large in value or which had unusual or blank descriptions; and

- Revenue recognition, we evaluated trade debtors to ensure they were in line with expectation and tested a sample of sales before the period end to ensure that they were recognised correctly. Lastly, we tested a sample of jobs in the year and traced them through the system to ensure they had been posted correctly and that the sales were complete.

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

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.

David M Fort FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

23 December 2025

Turnover

33,100,544

30,783,253

Cost of sales

(17,458,874

)

(16,799,021

)

Gross profit

15,641,670

13,984,232

Administrative expenses

(15,067,523

)

(13,282,408

)

574,147

701,824

Other operating income

6,221

107,899

Operating profit

5

580,368

809,723

Interest receivable and similar income

225,231

258,205

805,599

1,067,928

Interest payable and similar expenses

6

(40,264

)

(31,575

)

Profit before taxation

765,335

1,036,353

Tax on profit

7

(468,934

)

(384,655

)

Profit for the financial year

296,401

651,698

Profit attributable to:

Owners of the parent

296,401

651,698

Profit for the year

296,401

651,698

Other comprehensive income

-

-

Total comprehensive income for the year

296,401

651,698

Total comprehensive income attributable to:

Owners of the parent

296,401

651,698

Fixed assets

Tangible assets

9

735,359

785,091

Investments

10

-

-

735,359

785,091

Current assets

Debtors

11

10,699,704

11,828,074

Cash at bank and in hand

11,034,084

8,594,022

21,733,788

20,422,096

Creditors

Amounts falling due within one year

12

6,986,780

4,790,534

Net current assets

14,747,008

15,631,562

Total assets less current liabilities

15,482,367

16,416,653

Creditors

Amounts falling due after more than one year

13

735,508

1,966,195

Net assets

14,746,859

14,450,458

Capital and reserves

Called up share capital

16

100,000

100,000

Retained earnings

17

14,646,859

14,350,458

Shareholders' funds

14,746,859

14,450,458

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J M Turner - Director

Fixed assets

Tangible assets

9

734,713

784,056

Investments

10

90

90

734,803

784,146

Current assets

Debtors

11

12,563,677

12,750,422

Cash at bank and in hand

9,712,204

7,807,264

22,275,881

20,557,686

Creditors

Amounts falling due within one year

12

7,014,964

4,682,758

Net current assets

15,260,917

15,874,928

Total assets less current liabilities

15,995,720

16,659,074

Creditors

Amounts falling due after more than one year

13

735,508

1,966,195

Net assets

15,260,212

14,692,879

Capital and reserves

Called up share capital

16

100,000

100,000

Retained earnings

17

15,160,212

14,592,879

Shareholders' funds

15,260,212

14,692,879

Company's profit for the financial year

567,333

835,694

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J M Turner - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 June 2023

100,000

13,698,760

13,798,760

Changes in equity

Total comprehensive income

-

651,698

651,698

Balance at 31 May 2024

100,000

14,350,458

14,450,458

Changes in equity

Total comprehensive income

-

296,401

296,401

Balance at 31 May 2025

100,000

14,646,859

14,746,859

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 June 2023

100,000

13,757,185

13,857,185

Changes in equity

Total comprehensive income

-

835,694

835,694

Balance at 31 May 2024

100,000

14,592,879

14,692,879

Changes in equity

Total comprehensive income

-

567,333

567,333

Balance at 31 May 2025

100,000

15,160,212

15,260,212

Cash flows from operating activities

Cash generated from operations

1

2,487,850

(2,058,845

)

Interest paid

(30,350

)

-

Interest element of hire purchase payments paid

(9,914

)

(31,575

)

Tax paid

-

(330,078

)

Taxation refund

220,514

-

Net cash from operating activities

2,668,100

(2,420,498

)

Cash flows from investing activities

Purchase of tangible fixed assets

(322,378

)

(563,836

)

Sale of tangible fixed assets

-

768

Interest received

225,231

258,205

Net cash from investing activities

(97,147

)

(304,863

)

Cash flows from financing activities

New loans in year

-

417,000

Loan repayments in year

(70,279

)

-

Capital repayments in year

(60,612

)

(174,930

)

Net cash from financing activities

(130,891

)

242,070

Increase/(decrease) in cash and cash equivalents

2,440,062

(2,483,291

)

Cash and cash equivalents at beginning of year

2

8,594,022

11,077,313

Cash and cash equivalents at end of year

2

11,034,084

8,594,022