REGISTERED NUMBER: 12457942 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CSL INVESTMENTS LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

19

DIRECTORS:

Surendra Lakhani

Mrs Chandrika Lakhani

Jateen Lakhani

REGISTERED OFFICE:

364-368 Cranbrook Rd

Ilford

Gants Hill

Essex

IG2 6HY

REGISTERED NUMBER:

12457942 (England and Wales)

SENIOR STATUTORY AUDITOR:

Anwer Patel BA (Hons) FCA,BFP

AUDITORS:

Prestons

Chartered Accountants

Statutory Auditors

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

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

REVIEW OF BUSINESS

Key Financial Performance Indicators

The group key financial and other performance indicators during the year were as follows:

2025

2024

Turnover

38,451,406

39,096,598

Operating Profit

1,347,766

1,190,365

Profit after Tax

945,696

878,977

Shareholder's Equity

4,918,200

4,022,472

(Quick Ratio)

1.14%

1.50%

The group "quick ratio" (current assets as a ratio of current liabilities) is 1.14% (2024 is 1.50%) .This has been maintained by effective credit control system monitored by the director and management on ongoing basis.

Non Financial Performance Indicators

The Management of Human Resources :

Director has regular meeting with key management employees to ensure any issues relating to staff are resolved as a priority. This has helped group to have low level of staff turnover and increased efficiencies.

Product and Service Price/Quality :

The group ensures that products sold are of good quality standards.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors hold regular meetings with key management employees to evaluate the group's risk management process. Full due diligence is carried out on customers and suppliers to ensure compliance with relevant legislation and to have a better understanding of their needs.

Brexit Uncertainties:-

Brexit is one of the most significant economic events for the UK, and its effect are subject to unprecedented

levels of uncertainty of outcomes. Group has not had any adverse impact of Brexit as the sales exposure to

EC area is limited.

ON BEHALF OF THE BOARD:

Surendra Lakhani - Director

22 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of buying and selling of own real estate.

DIVIDENDS

No interim dividends were paid during the period ended 31 March 2025.

The directors recommend final dividends per share as follows:

The total distribution of dividends for the period ended 31 March 2025 will be £49,968.

DIRECTORS

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

Surendra Lakhani

Mrs Chandrika Lakhani

Jateen Lakhani

FINANCIAL INSTRUMENTS

Treasury operations and financial instruments

The group operates a treasury function which is responsible for managing the liquidity, interest and foreign currency risks associated with the company's activities.

The group principal financial instruments include derivative financial instruments, the purpose of which is to manage currency risks and interest rate risks arising form the company's activities, and bank overdrafts and loans, the main purpose of which is to raise finance for the company's operations. In addition, the company has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from operations. Derivative transactions which the company enter into principally comprise forward exchange con tracts. In accordance with the company's treasury policy, derivative instruments are not entered into for speculative purposes.

Liquidity risk

The group manages its cash and borrowing requirements in order to maximize interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The group is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on bank overdrafts and loans.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary.

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;

-	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.

AUDITORS

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

ON BEHALF OF THE BOARD:

Surendra Lakhani - Director

22 December 2025

Opinion

We have audited the financial statements of CSL Investments Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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 March 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 directors are responsible for the other information. The other information comprises the information in the Group 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 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 pages four and 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities to detect material misstatement in respect of irregularities, including fraud is detailed below:

- We exercise professional judgment and maintain professional skepticism throughout the audit;

- We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud in higher that for one resulting from error, as fraud may involve collusion, forgery, intentional, omissions, misrepresentations, or the deliberate override of internal control; - We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control;

- We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made; - We assess the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;

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

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.

Anwer Patel BA (Hons) FCA,BFP (Senior Statutory Auditor)

for and on behalf of Prestons

Chartered Accountants

Statutory Auditors

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

24 December 2025

TURNOVER

4

38,451,406

39,096,598

Cost of sales

34,598,740

35,550,954

GROSS PROFIT

3,852,666

3,545,644

Administrative expenses

2,504,900

2,355,279

OPERATING PROFIT

6

1,347,766

1,190,365

Interest receivable and similar income

10,912

-

1,358,678

1,190,365

Interest payable and similar expenses

7

32,970

36,065

PROFIT BEFORE TAXATION

1,325,708

1,154,300

Tax on profit

8

380,012

275,323

PROFIT FOR THE FINANCIAL YEAR

945,696

878,977

Profit attributable to:

Owners of the parent

945,696

878,977

PROFIT FOR THE YEAR

945,696

878,977

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

945,696

878,977

Total comprehensive income attributable to:

Owners of the parent

945,696

878,977

FIXED ASSETS

Tangible assets

11

4,576,367

1,960,559

Investments

12

-

-

4,576,367

1,960,559

CURRENT ASSETS

Stocks

13

2,550,250

2,395,250

Debtors

14

2,471,924

2,672,153

Cash at bank and in hand

1,285,877

2,337,639

6,308,051

7,405,042

CREDITORS

Amounts falling due within one year

15

5,537,375

4,958,114

NET CURRENT ASSETS

770,676

2,446,928

TOTAL ASSETS LESS CURRENT LIABILITIES

5,347,043

4,407,487

CREDITORS

Amounts falling due after more than one year

16

(353,719

)

(365,007

)

PROVISIONS FOR LIABILITIES

20

(75,124

)

(20,008

)

NET ASSETS

4,918,200

4,022,472

CAPITAL AND RESERVES

Called up share capital

21

2,400,000

2,400,000

Retained earnings

22

2,518,200

1,622,472

SHAREHOLDERS' FUNDS

4,918,200

4,022,472

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:

Surendra Lakhani - Director

FIXED ASSETS

Tangible assets

11

3,261,430

650,000

Investments

12

2,400,000

2,400,000

5,661,430

3,050,000

CURRENT ASSETS

Cash at bank

936,988

553,855

CREDITORS

Amounts falling due within one year

15

4,174,250

1,183,450

NET CURRENT LIABILITIES

(3,237,262

)

(629,595

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,424,168

2,420,405

CAPITAL AND RESERVES

Called up share capital

21

2,400,000

2,400,000

Retained earnings

24,168

20,405

SHAREHOLDERS' FUNDS

2,424,168

2,420,405

Company's profit for the financial year

53,731

56,242

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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:

Surendra Lakhani - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

2,400,000

801,791

3,201,791

Changes in equity

Dividends

-

(58,296

)

(58,296

)

Total comprehensive income

-

878,977

878,977

Balance at 31 March 2024

2,400,000

1,622,472

4,022,472

Changes in equity

Dividends

-

(49,968

)

(49,968

)

Total comprehensive income

-

945,696

945,696

Balance at 31 March 2025

2,400,000

2,518,200

4,918,200

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

2,400,000

22,459

2,422,459

Changes in equity

Dividends

-

(58,296

)

(58,296

)

Total comprehensive income

-

56,242

56,242

Balance at 31 March 2024

2,400,000

20,405

2,420,405

Changes in equity

Dividends

-

(49,968

)

(49,968

)

Total comprehensive income

-

53,731

53,731

Balance at 31 March 2025

2,400,000

24,168

2,424,168

Cash flows from operating activities

Cash generated from operations

1

2,142,010

1,616,530

Interest paid

(32,970

)

(36,065

)

Tax paid

(314,222

)

(137,466

)

Net cash from operating activities

1,794,818

1,442,999

Cash flows from investing activities

Purchase of tangible fixed assets

(2,737,167

)

(186,631

)

Sale of tangible fixed assets

22,401

-

Interest received

10,912

-

Net cash from investing activities

(2,703,854

)

(186,631

)

Cash flows from financing activities

Loan repayments in year

(11,288

)

(85,033

)

Capital repayments in year

(22,970

)

(26,444

)

Amount withdrawn by directors

(58,500

)

(144,000

)

Equity dividends paid

(49,968

)

(58,296

)

Net cash from financing activities

(142,726

)

(313,773

)

(Decrease)/increase in cash and cash equivalents

(1,051,762

)

942,595

Cash and cash equivalents at beginning of year

2

2,337,639

1,395,044

Cash and cash equivalents at end of year

2

1,285,877

2,337,639

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

31.3.25

31.3.24

£

£

Profit before taxation

1,325,708

1,154,300

Depreciation charges

94,381

37,451

Loss on disposal of fixed assets

4,577

-

Finance costs

32,970

36,065

Finance income

(10,912

)

-

1,446,724

1,227,816

(Increase)/decrease in stocks

(155,000

)

505,275

Decrease/(increase) in trade and other debtors

200,229

(455,591

)

Increase in trade and other creditors

650,057

339,030

Cash generated from operations

2,142,010

1,616,530

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

1,285,877

2,337,639

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

2,337,639

1,395,044

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

2,337,639

(1,051,762

)

1,285,877

2,337,639

(1,051,762

)

1,285,877

Debt

Finance leases

(33,253

)

22,970

(10,283

)

Debts falling due within 1 year

(41,760

)

-

(41,760

)

Debts falling due after 1 year

(365,007

)

11,288

(353,719

)

(440,020

)

34,258

(405,762

)

Total

1,897,619

(1,017,504

)

880,115

1.	STATUTORY INFORMATION

CSL Investments Ltd 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 General Information page.

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 as modified by the revaluation of certain assets.

Basis of consolidation

The consolidated accounts are prepared in accordance with the Group’s accounting principles and include the accounts of the Parent Company and all Group companies. Group companies are consolidated from the date the Group exercises control or influence over the company.

Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made upto 31st March 2025 . Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All inter-group transactions, balances and unrealized gains on transactions between group companies are eliminated on consolidation.

Turnover

Turnover represents net income receivable from sale of goods and services in the year, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. Depreciation is provided on the following basis:

Freehold Building - 1% Straight Line

Plant and Machinery - 25% Straight Line

Motor Vehicles - 25% Straight Line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Freehold Land is not depreciated on the grounds that it is regarded as having an infinite life.

Freehold building is not depreciated as expected residual value will be equivalent to cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

is based on the cost of purchase on a first in, first out basis

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying

amount is reduced to its selling price less costs to complete and sell. The impairment loss is

recognised immediately in profit and loss.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

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

Financial instruments

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of asset

At each reporting period end date, the group reviews the carrying amounts of its tangible, intangible and other assets to determine whether there is any indication that those assets have suffered an impairment loss. If such an indication exists, the recoverable amount of asset is estimated in order to determine the extent of the impairment loss (if any).

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.