Oakbank Waste Management Limited 31/03/2025 iXBRL

Company registration number: SC460842

Oakbank Waste Management Limited

Financial statements

31 March 2025

Oakbank Waste Management Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of income and retained earnings

Statement of financial position

Statement of cash flows

Notes to the financial statements

Oakbank Waste Management Limited

Directors and other information


Directors	Mr David C. Bogie
	Mrs Fiona A. Bogie	(Retired 10th June 2024)
	Mr John D. Bogie	(Retired 10th June 2024)
	Mr Stephen J. Bogie


Company number	SC460842


Registered office	Mosspark
	Annan Road
	Dumfries
	DG1 4PH


Business address	Mosspark
	Annan Road
	Dumfries
	DG1 4PH


Auditor	Carson & Trotter
	123 Irish Street
	Dumfries
	DG1 2PE


Accountants	Carson & Trotter
	123 Irish Street
	Dumfries
	DG1 2PE

Oakbank Waste Management Limited

Strategic report

Year ended 31st March 2025

The company operates a modern processing plant in Dumfries, Scotland, with the principal activity being the supply of waste management services and the haulage of dry waste to both the private and public sectors.

We predominantly cover the Dumfries & Galloway area of Scotland.

Business Performance

The company achieved a Turnover in the year of £10.48m, this is against the previous year turnover of £10.69m. However, net profit was up at £262k for the year against £144k for 2024. All income streams performed well and were in line with the previous year. The company has continued its policy of re-investment both into its core assets, to meet and exceed the expectations of its customers, suppliers and the legislators whilst creating long-term efficiencies and also into the development of new services which is creating a wider base for future expansion.

Principal Risks and Uncertainties

Operational Risk - The directors recognise mechanical and software failure as a significant risk which is countered by a weekly maintenance program by skilled professionals.

Compliance Risk - This is by far the largest risk facing the company. This includes Environmental Regulations, Safety Regulations and vehicular legislation. This is combated with a focus from the management team and regular reviews to understand changes and ensure we comply.

Environmental Risk - The directors and management team are fully aware of their environmental responsibilities, and ensure our processes and systems are in place to manage the impact and protect and enhance the environment where possible. We do this with strict adherence to the SEPA and EA waste management regulations.

Key Performance Indicators

The management team uses various KPI's to monitor the performance of the business. This includes new business, service levels, collections and tonnages, vehicle and plant utilisation, processing throughput, profitability and various others.

These are reviewed daily, weekly and monthly as needed and we look to action any showing an adverse indicator.

Future Developments

The company expects continued growth and diversification.

Health and Safety

The company is committed to and fully resources the area of employee safety, health and wellbeing. The company continually monitors the training needs of their employees to ensure a high standard of working.

Equal Opportunities

Wherever possible the company seeks to employ less abled people and ensures they receive treatment that is fair and equitable with their potential skills.

Employment

The company recognises and values the importance of its employees and offers various health care, pension, death in service and medical screening benefits. It has implemented shorter working patterns with the importance being placed upon quality time off.

Section 172 Statement

The directors are aware of their duty under section 172 of the Companies Act 2006. Section 172 of that Act requires directors of the company to act in the way which they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members and key stakeholders, When making key decisions for the company the directors have considered the impact of those decisions on the company's key stakeholders and also on wider society. The directors engage with key stakeholders when making decisions and formulating strategy. The directors also consider the environment and society in general in their decision-making process.

A core value of the business is long-term thinking and building lasting relationships with suppliers, customers, government agencies and employees. In addition, the directors recognise their employees are a critical success factor for the company and seek to assist employees to succeed through a positive culture of development and engagement.

This report was approved by the board of directors on 24th December 2025 and signed on behalf of the board by:

Mr Stephen J. Bogie

Director

Oakbank Waste Management Limited

Directors report

Year ended 31st March 2025

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

Directors

The directors who served the company during the year were as follows:


Mr David C. Bogie
Mrs Fiona A. Bogie				(Retired 10th June 2024)
Mr John D. Bogie				(Retired 10th June 2024)
Mr Stephen J. Bogie

Dividends

The directors do not recommend the payment of a dividend.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report 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 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 judgments and accounting estimates that are reasonable and prudent; and

- 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 24 December 2025 and signed on behalf of the board by:

Mr Stephen J. Bogie

Director

Oakbank Waste Management Limited

Independent auditor's report to the members of

Oakbank Waste Management Limited

Year ended 31st March 2025

Opinion

We have audited the financial statements of Oakbank Waste Management Limited (the 'company') for the year ended 31st March 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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 FRS 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 auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has 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 directors' report. 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 the 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 directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor’s report 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. Our approach to identifying and assessing the risk of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience with the company and the sector in which it operates; - we 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 Companies Act 2006, taxation legislation, transport licensing and insurance, data protection, anti-bribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the relevant laws and regulations identified above by making enquiries of management; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 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 as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 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 any 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; - reviewing correspondence with HMRC and other relevant regulators. There are inherent limitations in our audit procedures described above. The more removed, laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and management and the inspection of regulatory and legal correspondence, if any. Material misstatements which arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment and collusion. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - 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 is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - 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 the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’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 company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 an auditors report 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.

Linda Brannock BA CA (Senior Statutory Auditor)

For and on behalf of

Carson & Trotter

Chartered Accountants and Statutory Auditor

123 Irish Street

Dumfries

DG1 2PE

24 December 2025

Oakbank Waste Management Limited

Statement of income and retained earnings

Year ended 31st March 2025

		2025	2024
	Note	£	£


Turnover	4	10,481,918	10,686,525
Cost of sales		( 8,143,084)	( 8,261,063)
		_______	_______
Gross profit		2,338,834	2,425,462

Administrative expenses		( 1,995,387)	( 2,205,911)
		_______	_______
Operating profit	5	343,447	219,551

Other interest receivable and similar income	8	6,570	4,423
Interest payable and similar expenses	9	( 88,451)	( 80,216)
Profit before taxation		261,566	143,758

Tax on profit	10	( 67,690)	( 125,604)
		_______	_______
Profit for the financial year and total comprehensive income		193,876	18,154
		_______	_______

Retained earnings at the start of the year		2,706,857	2,688,703
		_______	_______
Retained earnings at the end of the year		2,900,733	2,706,857
		_______	_______

All the activities of the company are from continuing operations.

Oakbank Waste Management Limited

Statement of financial position

31st March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	11	24,200		31,400
Tangible assets	12	3,479,644		3,423,072
		_______		_______
			3,503,844		3,454,472

Current assets
Stocks	13	73,983		145,960
Debtors	14	1,243,790		1,860,707
Cash at bank and in hand		574,446		549,875
		_______		_______
		1,892,219		2,556,542
Creditors: amounts falling due
within one year	16	( 1,489,556)		( 2,340,548)
		_______		_______
Net current assets			402,663		215,994
			_______		_______
Total assets less current liabilities			3,906,507		3,670,466

Creditors: amounts falling due
after more than one year	17		( 358,331)		( 383,856)

Provisions for liabilities	19		( 647,442)		( 579,752)

			_______		_______
Net assets			2,900,734		2,706,858
			_______		_______

Capital and reserves
Called up share capital	22		1		1
Profit and loss account	23		2,900,733		2,706,857
			_______		_______
Shareholders funds			2,900,734		2,706,858
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

Mr Stephen J. Bogie

Director

Company registration number: SC460842

Oakbank Waste Management Limited

Statement of cash flows

Year ended 31st March 2025

		2025	2024
	Note	£	£

Cash flows from operating activities
Profit for the financial year		193,876	18,154

Adjustments for:
Depreciation of tangible assets		613,430	576,075
Amortisation of intangible assets		7,200	7,200
Other interest receivable and similar income		( 6,570)	( 4,423)
Interest payable and similar expenses		88,451	80,216
Gain/(loss) on disposal of tangible assets		( 9,805)	14,740
Tax on profit		67,690	125,604
Accrued expenses/(income)		( 38,542)	13,012

Changes in:
Stocks		71,977	105,200
Trade and other debtors		616,917	( 282,278)
Trade and other creditors		( 464,310)	113,565
		_______	_______
Cash generated from operations		1,140,314	767,065

Interest paid		( 88,451)	( 80,216)
Interest received		6,570	4,423
Tax paid		-	( 13,282)
		_______	_______
Net cash from operating activities		1,058,433	677,990
		_______	_______

Cash flows from investing activities
Purchase of tangible assets		( 958,256)	( 751,434)
Proceeds from sale of tangible assets		298,058	47,789
		_______	_______
Net cash used in investing activities		( 660,198)	( 703,645)
		_______	_______

Cash flows from financing activities
Proceeds from borrowings		( 375,592)	450,000
Payment of finance lease liabilities		( 10,657)	( 33,535)
		_______	_______
Net cash (used in)/from financing activities		( 386,249)	416,465
		_______	_______

Net increase/(decrease) in cash and cash equivalents		11,986	390,810
Cash and cash equivalents at beginning of year	15	523,175	132,365
		_______	_______
Cash and cash equivalents at end of year	15	535,161	523,175
		_______	_______

Oakbank Waste Management Limited

Notes to the financial statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mosspark, Annan Road, Dumfries, DG1 4PH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the forseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	no depreciation charged
Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance
Computers & software	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Accounting estimates and judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from the 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 of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or key sources of estimation uncertainty in the preparation of these financial statements.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	10,481,918	10,686,525
	_______	_______

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	7,200	7,200
Depreciation of tangible assets	613,430	576,075
(Gain)/loss on disposal of tangible assets	( 9,805)	14,740
Impairment of trade debtors	(1,467)	27,695
Operating lease rentals	25,957	19,703
Fees payable for the audit of the financial statements	3,996	-
	_______	_______

6. Auditors remuneration

	2025	2024
	£	£
Fees payable to Carson & Trotter
Fees payable for the audit of the financial statements	3,996	-
	_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
Production staff	41	39
Distribution staff	15	12
Administrative staff	10	7
	_______	_______
	66	58
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	2,255,867	2,140,631
Social security costs	217,569	198,314
Other pension costs	52,574	51,309
	_______	_______
	2,526,010	2,390,254
	_______	_______

8. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	6,570	4,423
	_______	_______

9. Interest payable and similar expenses

		2025	2024
		£	£
Other loans made to the company:
	Finance leases and hire purchase contracts	52,479	37,345
	Factoring loans	8,940	12,326
Other interest payable and similar expenses		27,032	30,545
		_______	_______
		88,451	80,216
		_______	_______

10. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
Adjustments in respect of previous periods	-	942
	_______	_______

Deferred tax:
Origination and reversal of timing differences	67,690	124,662
	_______	_______
Tax on profit	67,690	125,604
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	261,566	143,758
	_______	_______

Profit multiplied by rate of tax	65,392	35,940
Adjustments in respect of prior periods	-	942
Effect of expenses not deductible for tax purposes	1,800	1,800
Effect of capital allowances and depreciation	( 78,092)	( 51,880)
Unrelieved tax losses	10,900	14,140
Deferred tax movement	67,690	124,662
	_______	_______
Tax on profit	67,690	125,604
	_______	_______

11. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1st April 2024 and 31st March 2025	80,000	80,000
	_______	_______
Amortisation
At 1st April 2024	48,600	48,600
Charge for the year	7,200	7,200
	_______	_______
At 31st March 2025	55,800	55,800
	_______	_______
Carrying amount
At 31st March 2025	24,200	24,200
	_______	_______
At 31st March 2024	31,400	31,400
	_______	_______

12. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computers and software	Total
	£	£	£	£	£	£
Cost
At 1st April 2024	773,867	4,574,992	233,349	855,218	64,610	6,502,036
Additions	-	816,598	17,158	124,500	-	958,256
Disposals	-	( 559,129)	-	( 108,500)	-	( 667,629)
	_______	_______	_______	_______	_______	_______
At 31st March 2025	773,867	4,832,461	250,507	871,218	64,610	6,792,663
	_______	_______	_______	_______	_______	_______
Depreciation
At 1st April 2024	-	2,346,340	63,576	617,183	51,866	3,078,965
Charge for the year	-	515,884	34,677	60,320	2,549	613,430
Disposals	-	( 293,084)	-	( 86,292)	-	( 379,376)
	_______	_______	_______	_______	_______	_______
At 31st March 2025	-	2,569,140	98,253	591,211	54,415	3,313,019
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31st March 2025	773,867	2,263,321	152,254	280,007	10,195	3,479,644
	_______	_______	_______	_______	_______	_______
At 31st March 2024	773,867	2,228,652	169,773	238,035	12,744	3,423,071
	_______	_______	_______	_______	_______	_______

Obligations under finance leases

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:


	Plant and machinery	Motor vehicles
	£	£
At 31st March 2025	768,422	102,467
	_______	_______
At 31st March 2024	939,824	71,880
	_______	_______

13. Stocks

	2025	2024
	£	£
Stone, fuel and parts	73,983	145,960
	_______	_______

14. Debtors

	2025	2024
	£	£
Trade debtors	919,318	1,301,533
Prepayments and accrued income	36,194	10,059
Other debtors	288,278	549,115
	_______	_______
	1,243,790	1,860,707
	_______	_______

15. Cash and cash equivalents

	2025	2024
	£	£
Cash at bank and in hand	574,446	549,875
Bank overdrafts	( 39,285)	( 26,700)
	_______	_______
	535,161	523,175
	_______	_______

16. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	89,285	76,700
Trade creditors	698,882	692,531
Accruals and deferred income	27,955	66,497
Social security and other taxes	160,109	241,257
Obligations under finance leases	264,957	300,089
Director loan accounts	174,407	500,000
Other creditors	73,961	463,474
	_______	_______
	1,489,556	2,340,548
	_______	_______

There is a Coronavirus Bounce Back Loan which was obtained by the company. Obilgations under finance leases are secured by the assets covered by said agreements.

17. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases	312,497	288,022
Other creditors	45,834	95,834
	_______	_______
	358,331	383,856
	_______	_______

18. Obligations under finance leases

Company lessee

The total future minimum lease payments under finance lease agreements are as follows:

	2025	2024
	£	£
Not later than 1 year	264,958	300,089
Later than 1 year and not later than 5 years	312,497	288,022
	_______	_______
	577,455	588,111
Less: future finance charges	( 71,020)	( 70,466)
	_______	_______
Present value of minimum lease payments	506,435	517,645
	_______	_______

19. Provisions

	Deferred tax (note 20)	Total
	£	£
At 1st April 2024	579,752	579,752
Charges against provisions	67,690	67,690
	_______	_______
At 31st March 2025	647,442	647,442
	_______	_______

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 19)	647,442	579,752
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	769,202	690,612
Unused tax losses	( 121,760)	( 110,860)
	_______	_______
	647,442	579,752
	_______	_______

21. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 52,574 (2024: £ 51,309 ).

22. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 0.01 each	100	1	100	1
	_______	_______	_______	_______

23. Reserves

Profit and loss account: This reserve records retained earnings and accumulated losses.

24. Analysis of changes in net debt

	At 1 April 2024	Cash flows	At 31 March 2025
	£	£	£
Cash and cash equivalents	549,875	24,571	574,446
Bank overdrafts	(26,700)	(12,585)	(39,285)
Debt due within one year	(850,089)	360,725	(489,364)
Debt due after one year	(383,856)	25,525	(358,331)
	_______	_______	_______
	( 710,770)	398,236	( 312,534)
	_______	_______	_______

25. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	29,084	19,703
Later than 1 year and not later than 5 years	27,911	31,196
	_______	_______
	56,995	50,899
	_______	_______

26. Related party transactions

During the year, the company made sales of £1,260,198 (2024 - £1,594,929) to connected businesses and purchases from the same of £1,769,520 (2024 - £1,956,238), with a total balance remaining due to the connected companies at the year end of £208,860 (2024 - £2,833).The directors had amounts owing to themselves by the company at the year end of £174,407 (2024 - £500,000) with a balance of £275,036 (2024 - £275,036) owed by the directors to the company.There were no dividends paid during the year.

27. Controlling party

The company is under the control of the directors.