REGISTERED NUMBER: 03316572 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TRENCHCO LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

R Byrne

W Kelly

REGISTERED OFFICE:

17 Clewer Crescent

Harrow Weald

Middlesex

HA3 5QA

REGISTERED NUMBER:

03316572 (England and Wales)

AUDITORS:

Mantax Lynton

Chartered Accountants

Statutory Auditor

Suite 207

Equitable House

7 General Gordon Square

London

SE18 6FH

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

REVIEW OF BUSINESS

The results for the year and financial position of the company are shown in the annexed financial statements.

The directors are pleased with the result for the financial year ending 31 March 2025. Sales of £14.6M (2024:£15.5M), combined with operating profit of £229K (2024: £205K) are good results, particularly when you consider the competitive and difficult market conditions that prevailed, with the continuing pressure on margins.

Monitoring sales and margin is a key measure for the business in view of the continuing investment in plant and our people. The forward order book is also closely monitored.

We enter the new financial year with a good order book, but we anticipate minimal growth in 2026/27. Uncertainty still surrounds the future impact of both the economy and falling interest rates, meaning that the short and medium outlook for the UK construction industry also remains uncertain. However, we consider that we are well placed to react to prevailing market conditions given our strong client relationships, adaptable business model and financial position.

PRINCIPAL RISKS AND UNCERTAINTIES

There are a number of potential risks and uncertainties which could impact the company's performance and these are considered by the board on a regular basis. The board of directors and the relevant management teams consider the risks of all significant business decisions and changes in the external environment and in the company's operations. The key risks affecting the business are as follows :

Operating Risk

The company's reputation and continued success depends on its ability to provide services which are valued by its customers. The company regularly reviews the quality of its services both internally and through client feedback and evaluation.

Market Risk

The company operates in a specialised market and seeks to maintain a competitive advantage by offering a high level of customer service from professional and dedicated staff. The company keeps abreast of developments in the market through maintaining strong relationships with its clients and monitoring the wider economic environment.

Personnel Risk

The company is a privately owned business and places great emphasis on recruiting and training high quality staff. The directors consider staff resourcing on a regular basis. Health, safety and environmental issues remain a high priority in all aspects of the company's affairs.

Financial Risk

The company is principally funded from retained profits and is reliant on converting these profits to cash. Financial monitoring and planning are continuous processes and emphasis is placed on balancing maintenance of growth of profit margin against investment in resources to maintain delivery of a high quality of service to customers.

Given the straight forward nature of the business, the company's directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of the development, performance or position of the business.

HEALTH AND SAFETY

The company considers health and safety to be a priority issue. We have a positive and professional attitude to the subject, which is taken into our business by the directors and senior management. To achieve high standards, we make sure we have competent, trained people and modern well maintained plant and equipment. Our internal resources are audited and supported by external industry experts, with 'prevention', 'learning from experience' and continuous improvement' being the underlying themes.

The balance sheet on page 9 of the financial statements show that the company's financial position is strong, in both net assets and liquidity terms.

ON BEHALF OF THE BOARD:

R Byrne - Director

22 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of groundwork, building contractors and ancillary services.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 £68,000 (2024: £74,000).

FUTURE DEVELOPMENTS

We expect 2025/26 to be another challenging year, but are confident that we can maintain the growth and profitability we have shown in recent years.

DIRECTORS

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

R Byrne

W Kelly

DONATIONS

Non political donations totalling £12,666 (2024 : £2,546) were made in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

R Byrne - Director

22 December 2025

Opinion

We have audited the financial statements of Trenchco Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and relevant taxation legislation.

We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition, carrying value of intangibles and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

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.

Janak Raj Pokhrel (Senior Statutory Auditor)

for and on behalf of Mantax Lynton

Chartered Accountants

Statutory Auditor

Suite 207

Equitable House

7 General Gordon Square

London

SE18 6FH

22 December 2025

TURNOVER

3

14,578,598

15,465,680

Cost of sales

(13,224,458

)

(14,071,308

)

GROSS PROFIT

1,354,140

1,394,372

Administrative expenses

(1,128,940

)

(1,193,735

)

225,200

200,637

Other operating income

4,080

4,000

OPERATING PROFIT

5

229,280

204,637

Interest payable and similar expenses

6

(39,565

)

(40,525

)

PROFIT BEFORE TAXATION

189,715

164,112

Tax on profit

7

191,150

21,995

PROFIT FOR THE FINANCIAL YEAR

380,865

186,107

PROFIT FOR THE YEAR

380,865

186,107

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

380,865

186,107

FIXED ASSETS

Tangible assets

9

873,072

1,048,376

CURRENT ASSETS

Stocks

10

91,300

87,400

Debtors

11

6,138,720

5,257,968

Cash at bank

20,000

43,051

6,250,020

5,388,419

CREDITORS

Amounts falling due within one year

12

(2,270,160

)

(1,849,234

)

NET CURRENT ASSETS

3,979,860

3,539,185

TOTAL ASSETS LESS CURRENT LIABILITIES

4,852,932

4,587,561

CREDITORS

Amounts falling due after more than one year

13

(30,822

)

(49,631

)

PROVISIONS FOR LIABILITIES

16

(124,848

)

(153,533

)

NET ASSETS

4,697,262

4,384,397

CAPITAL AND RESERVES

Called up share capital

17

4

4

Share premium

18

20,000

20,000

Retained earnings

18

4,677,258

4,364,393

SHAREHOLDERS' FUNDS

4,697,262

4,384,397

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:

R Byrne - Director

W Kelly - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2023

4

4,252,286

20,000

4,272,290

Changes in equity

Dividends

-

(74,000

)

-

(74,000

)

Total comprehensive income

-

186,107

-

186,107

Balance at 31 March 2024

4

4,364,393

20,000

4,384,397

Changes in equity

Dividends

-

(68,000

)

-

(68,000

)

Total comprehensive income

-

380,865

-

380,865

Balance at 31 March 2025

4

4,677,258

20,000

4,697,262

Cash flows from operating activities

Cash generated from operations

1

32,127

142,503

Interest paid

(17,440

)

(5,988

)

Interest element of hire purchase payments paid

(22,125

)

(34,537

)

Tax paid

162,464

-

Net cash from operating activities

155,026

101,978

Cash flows from investing activities

Purchase of tangible fixed assets

(75,200

)

-

Sale of tangible fixed assets

-

70,900

Net cash from investing activities

(75,200

)

70,900

Cash flows from financing activities

Movement on HP loan

(71,690

)

(247,877

)

Equity dividends paid

(68,000

)

(74,000

)

Net cash from financing activities

(139,690

)

(321,877

)

Decrease in cash and cash equivalents

(59,864

)

(148,999

)

Cash and cash equivalents at beginning of year

2

(204,834

)

(55,835

)

Cash and cash equivalents at end of year

2

(264,698

)

(204,834

)

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

2025

2024

£

£

Profit before taxation

189,715

164,112

Depreciation charges

250,504

287,263

Profit on disposal of fixed assets

-

(52,372

)

Finance costs

39,565

40,525

479,784

439,528

Increase in stocks

(3,900

)

(1,900

)

(Increase)/decrease in trade and other debtors

(880,751

)

4,587

Increase/(decrease) in trade and other creditors

436,994

(299,712

)

Cash generated from operations

32,127

142,503

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

20,000

43,051

Bank overdrafts

(284,698

)

(247,885

)

(264,698

)

(204,834

)

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

43,051

85,879

Bank overdrafts

(247,885

)

(141,714

)

(204,834

)

(55,835

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank

43,051

(23,051

)

20,000

Bank overdrafts

(247,885

)

(36,813

)

(284,698

)

(204,834

)

(59,864

)

(264,698

)

Debt

Finance leases

(180,494

)

71,690

(108,804

)

(180,494

)

71,690

(108,804

)

Total

(385,328

)

11,826

(373,502

)

1.	STATUTORY INFORMATION

Trenchco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Compliance with accounting standards

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.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Significant judgements and estimates

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Turnover and profits

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Sales are recognised on the basis of work measured, valued and certified at the year end.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of contract value which costs to date bear to total expected costs for that contract.

Tangible fixed assets

Tangible fixed assets under the cost model 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 cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery - 20% Reducing balance method

Fixtures and fittings - 25% Reducing balance method

Motor vehicles - Straight line over 4 years

Computer equipment - 20% Reducing balance method

The assets' 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 or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress is reflected in the accounts on a contract by contract basis and represents the unbilled direct and indirect costs incurred as at the year end. Net realisable value represents the certified value of the measured work carried out in a particular period, invoiced subsequent to the year end.

Financial instruments

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Research & Development tax credits are recognised in the profit or loss in the year in which the

amounts receiveable by the company can be measured reliably and are virtually certain.

Hire purchase and leasing commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to profit and loss account

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits

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

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Going concern

The company has a strong balance sheet and is maintaining reasonable liquidity ratio to deal with the amount that will fall due within one year. After making the necessary enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Going concern is therefore considered appropriate.

3.

TURNOVER

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

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

478,751

521,379

Social security costs

53,138

56,006

Other pension costs

3,474

5,776

535,363

583,161

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

2025

2024

Number of employees

7

8

2025

2024

£

£

Directors' remuneration

155,968

173,821

5.	OPERATING PROFIT

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

2025

2024

£

£

Professional Fees

609,275

228,723

Depreciation - owned assets

250,504

287,263

Profit on disposal of fixed assets

-

(52,372

)

Auditors' Renumeration

16,000

15,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank and loan interest

7,830

5,027

Interest on late payment

9,610

961

Hire purchase Interest

22,125

34,537

39,565

40,525

7.

TAXATION

Analysis of the tax credit

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

2025

2024

£

£

Current tax:

R&D tax credit

(162,464

)

-

Deferred tax

(28,686

)

(21,995

)

Tax on profit

(191,150

)

(21,995

)

Reconciliation of total tax credit included in profit and loss

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

2025

2024

£

£

Profit before tax

189,715

164,112

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

47,429

41,028

Effects of:

Expenses not deductible for tax purposes

1,950

3,564

Depreciation in excess of capital allowances

28,685

40,602

Utilisation of tax losses

(78,065

)

(85,194

)

R & D claim

(162,464

)

-

Deferred tax

(28,685

)

(21,995

)

Total tax credit

(191,150

)

(21,995

)

8.

DIVIDENDS

2025

2024

£

£

Final

68,000

74,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

5,262,102

10,216

223,020

10,616

5,505,954

Additions

75,200

-

-

-

75,200

At 31 March 2025

5,337,302

10,216

223,020

10,616

5,581,154

DEPRECIATION

At 1 April 2024

4,292,186

7,605

148,723

9,064

4,457,578

Charge for year

209,023

653

40,518

310

250,504

At 31 March 2025

4,501,209

8,258

189,241

9,374

4,708,082

NET BOOK VALUE

At 31 March 2025

836,093

1,958

33,779

1,242

873,072

At 31 March 2024

969,916

2,611

74,297

1,552

1,048,376