REGISTERED NUMBER: 04115820 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

UNILABS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

D Alacon

Dr T L Ellison

REGISTERED OFFICE:

24 - 32 Stephenson Way

London

NW1 2HD

REGISTERED NUMBER:

04115820 (England and Wales)

AUDITORS:

GKP (Ampthill) Limited

Statutory Auditor

3 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

The directors present their strategic report for the year ended 31 December 2024.

The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties it faces.

REVIEW OF BUSINESS

The results for the Company show a loss for the financial year of £4,098,020 (2023: £2,399,632) and revenue of £18,677,112 (2023: £17,353,474). The total net liabilities of the company at 31st December 2024 were (£3,667,037) (2023: £430,983 net assets).

OUTLOOK AND FUTURE DEVELOPMENTS

The board believe that its core business units will continue to develop and expand to include direct to consumer activity. This strategy is expected to see both short term and longer term sustained profitable growth potential.

PRINCIPAL RISKS AND UNCERTAINTIES

Unilabs diagnostics business is significantly dependent upon maintaining its ISO15189 accredited status. This provides operational and competitive advantage and is a key determining factor in clients working with Unilabs. There continues to be significant investment in resource, training and systems to ensure Unilabs employees conduct themselves to the highest ethical and professional standards when engaging with clients and patients. Unilabs continued to benefit from the financial and operational support of the wider Unilabs Organisation.

KEY PERFORMANCE INDICATORS

The company uses a number of financial measures to monitor progress against strategic plans and annual corporate objectives. These are summarised below:

2024

2023

£   's

£   's

Sales

18,677

17,353

EBITDA

(2,580

)

(900

)

EBIT

(3,868

)

(2,280

)

BY ORDER OF THE BOARD:

D Alacon - Director

24 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year continued to be cellular pathology and one stop cancer diagnosis.

DIVIDENDS

No dividends have been paid in the year ended 31st December 2024 (2023: £Nil).

FUTURE DEVELOPMENTS

We expect to experience significant, profitable growth in both business units in the coming years. New contracts and current client requirements leaves the UK business well placed to achieve its objectives.

The directors are therefore confident of the long term future and prospects of the company.

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

A S Coutts - resigned 31 January 2024

R Chaudhary - resigned 6 December 2024

D Alacon - appointed 1 February 2024

B Unaran - resigned 30 August 2024

R L Dargue - appointed 1 September 2024

Dr T L Ellison was appointed as a director after 31 December 2024 but prior to the date of this report.

R L Dargue ceased to be a director after 31 December 2024 but prior to the date of this report.

GOING CONCERN AND LIQUIDITY RISK

The company's business activities and risks, together with the factors likely to affect its future development and its financial position, have been considered by the directors. The company is part of a larger group with considerable financial resources. As a consequence the directors believe that the company is well placed to manage its business risks.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

BY ORDER OF THE BOARD:

D Alacon - Director

24 December 2025

Opinion

We have audited the financial statements of Unilabs Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss 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 pages three and 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:

Owing to the inherent limitations of an audit, there is unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment, forgery, collusion, omission or misrepresentation.

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

A part of the audit planning process was to look at each area of the financial statements and ascertain the level of risk for each applicable audit assertion. Where an increased risk was identified, specific audit work was designed to ensure those risks were at the forefront of the audit work carried out.

-

During the audit planning process, important laws and regulations applying to the company were identified by making enquiries of management in addition to our own checks of the laws and regulations applying to a business of this nature.

-

The audit process has documented the systems and internal controls adopted by the company and considered their adequacy. Our audit work included testing journal entries due to an inherent risk of management override of controls.

-

An audit team planning meeting was held which communicated areas of identified risks and considered possible opportunities for fraud within the company.

-

The engagement partner assessed the experience and abilities of the engagement team to ensure they were collectively competent to identify irregularities.

-

All risks identified at the planning stage and the related audit work were reviewed and results considered to confirm that no irregularities had been identified.

-

Our audit has included a review of the disclosures in the financial statements and comparison of those disclosures with the results of our audit work to identify any disparities.

-

Analytical review of the financial statements has been undertaken at both the planning and completion stages of the audit to identify risks of irregularities and the results of the audit work carried out on those areas of risks.

-

The judgements made in making accounting estimates have been assessed as to whether they indicate potential bias.

-

Enquiries have been made of management regarding known instances of fraud, litigation or claims in progress.

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.

Karen Dyer FCCA (Senior Statutory Auditor)

for and on behalf of GKP (Ampthill) Limited

Statutory Auditor

3 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

29 December 2025

TURNOVER

18,677,112

17,353,474

Cost of sales

12,416,166

10,865,187

GROSS PROFIT

6,260,946

6,488,287

Administrative expenses

17,246,753

13,908,180

(10,985,807

)

(7,419,893

)

Other operating income

7,117,996

5,139,695

OPERATING LOSS

6

(3,867,811

)

(2,280,198

)

Interest receivable and similar income

7

147,358

156,779

(3,720,453

)

(2,123,419

)

Interest payable and similar expenses

8

585,798

440,363

LOSS BEFORE TAXATION

(4,306,251

)

(2,563,782

)

Tax on loss

9

(208,231

)

(164,150

)

LOSS FOR THE FINANCIAL YEAR

(4,098,020

)

(2,399,632

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(4,098,020

)

(2,399,632

)

FIXED ASSETS

Tangible assets

11

2,212,517

3,418,851

CURRENT ASSETS

Stocks

12

156,430

155,004

Debtors

13

6,685,918

9,374,599

Cash in hand

1,717

2,173

6,844,065

9,531,776

CREDITORS

Amounts falling due within one year

14

(11,540,605

)

(11,160,399

)

NET CURRENT LIABILITIES

(4,696,540

)

(1,628,623

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,484,023

)

1,790,228

PROVISIONS FOR LIABILITIES

16

(1,183,014

)

(1,359,245

)

NET (LIABILITIES)/ASSETS

(3,667,037

)

430,983

CAPITAL AND RESERVES

Called up share capital

17

274,999

274,999

Share premium

1

1

Retained earnings

(3,942,037

)

155,983

SHAREHOLDERS' FUNDS

(3,667,037

)

430,983

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

D Alacon - Director

Dr T L Ellison - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

274,999

2,555,615

1

2,830,615

Changes in equity

Total comprehensive income

-

(2,399,632

)

-

(2,399,632

)

Balance at 31 December 2023

274,999

155,983

1

430,983

Changes in equity

Total comprehensive income

-

(4,098,020

)

-

(4,098,020

)

Balance at 31 December 2024

274,999

(3,942,037

)

1

(3,667,037

)

1.	STATUTORY INFORMATION

Unilabs 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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 in accordance with the accounting policies set out below. The financial statements are prepared in sterling, which is the functional currency of the entity.

3.	ACCOUNTING POLICIES

Going concern

The company has considerable financial resources available from the wider group and as a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the uncertain economic outlook.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

In taking advantage of these exemptions as a subsidiary undertaking the results for this company are included in the consolidated accounts of Unilabs Group Holdings APS.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and value added tax.

Revenue is recognised when testing and diagnostic services are performed and provided to the patient.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Impairment of fixed assets

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.

Depreciation

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

Short leasehold improvement

- over the terms of the lease

Plant and machinery

- straight line over 3, 4 or 5 years

Computer equipment

- straight line over 3 or 5 years

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first-in, first-out basis and includes all costs incurred in bringing each product to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. 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 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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling on the date of the transaction. Exchange gains and losses are recognised in the profit and loss account.

Pensions

The company operates a defined contributions pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Operating lease agreements

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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 amounts 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.

Other income

Other income is provided on an accruals basis. Sundry receipts relates to recharges with related companies.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The directors do not consider there to be any critical accounting judgements.

Key sources of estimation uncertainty

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

The annual depreciation charge for tangible fixed asset is sensitive to changes in the estimated and useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The remaining useful economic life of the asset is considered a key source of estimation uncertainty.

5.	EMPLOYEES AND DIRECTORS

2024

2023

as restated

£

£

Wages and salaries

7,537,130

6,095,655

Social security costs

877,173

691,258

Other pension costs

311,547

292,138

8,725,850

7,079,051

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

2024

2023

as restated

Administration

34

28

Technical

92

93

Directors

3

2

129

123

2024

2023

as restated

£

£

Directors' remuneration

685,020

659,765

Directors' pension contributions to money purchase schemes

40,534

30,392

Compensation to director for loss of office

-

196,962

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2024

2023

as restated

£

£

Emoluments etc

319,468

335,015

Pension contributions to money purchase schemes

15,917

27,736

6.	OPERATING LOSS

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

2024

2023

as restated

£

£

Depreciation - owned assets

1,288,282

1,379,820

Auditors' remuneration

13,125

12,500

Auditors' remuneration for non audit work

22,683

7,610

Foreign exchange differences

120,358

61,953

Operating lease rentals - land and buildings

997,158

966,905

Recharge of expenses to group companies

(7,117,996

)

(5,139,695

)

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

2024

2023

as restated

£

£

Deposit account interest

6,126

2,805

Interest receivable on related party loan

141,232

153,974

147,358

156,779

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

as restated

£

£

Group bank interest

585,798

440,363

9.

TAXATION

Analysis of the tax credit

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

2024

2023

as restated

£

£

Deferred tax

(208,231

)

(164,150

)

Tax on loss

(208,231

)

(164,150

)

Reconciliation of total tax credit included in profit and loss

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

2024

2023

as restated

£

£

Loss before tax

(4,306,251

)

(2,563,782

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

(1,076,563

)

(640,946

)

Effects of:

Expenses not deductible for tax purposes

32

801

Depreciation in excess of capital allowances

290,552

257,612

Tax loss in year

785,979

382,533

Deferred tax movement

(208,231

)

(164,150

)

Total tax credit

(208,231

)

(164,150

)

10.	PRIOR YEAR ADJUSTMENT

During the year, the company identified an error relating to the prior year in respect of dilapidation provisions. The provision for property dilapidation was understated in the prior year. As a result, an additional provision of £657,000 has been recognised.

Accordingly, the comparative figures have been adjusted. The opening profit and loss reserve has decreased by £620,000 and the year end dilapidation has increased by £657,000. The difference of £37,000 is an estimated movement in the provision for inflation and has been recognised in administrative expenses.

11.	TANGIBLE FIXED ASSETS

Short

leasehold

Plant and

Computer

improvements

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2024

3,155,140

4,320,425

3,035,526

10,511,091

Additions

79,249

46,368

7,265

132,882

At 31 December 2024

3,234,389

4,366,793

3,042,791

10,643,973

DEPRECIATION

At 1 January 2024

1,832,796

2,867,697

2,442,681

7,143,174

Charge for year

408,322

601,907

278,053

1,288,282

At 31 December 2024

2,241,118

3,469,604

2,720,734

8,431,456

NET BOOK VALUE

At 31 December 2024

993,271

897,189

322,057

2,212,517

At 31 December 2023

1,322,344

1,452,728

592,845

3,367,917

12.

STOCKS

2024

2023

as restated

£

£

Consumables

156,430

155,004

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

2,587,283

3,156,937

Amounts owed by group undertakings

3,173,940

5,542,438

Other debtors

373,986

347,198

VAT

25,763

34,700

Prepayments and accrued income

524,946

293,326

6,685,918

9,374,599

Included within Other debtors are rent deposits totalling £347,706 (2023: £347,706) which are recoverable after more than one year from the balance sheet date.

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

2,477,334

1,030,130

Amounts owed to group undertakings

6,407,775

7,847,128

Social security and other taxes

278,565

257,023

Other creditors

181,543

160,761

Accruals and deferred income

2,195,388

1,865,357

11,540,605

11,160,399

15.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

901,035

901,035

Between one and five years

1,204,770

2,105,805

2,105,805

3,006,840

16.	PROVISIONS FOR LIABILITIES

2024

2023

as restated

£

£

Deferred tax

244,014

452,245

Other provisions

939,000

907,000

1,183,014

1,359,245

Deferred

Other

tax

provisions

£

£

Balance at 1 January 2024

452,245

907,000

Provided during year

(208,231

)

32,000

Balance at 31 December 2024

244,014

939,000

The deferred tax liability is in respect of timing differences on capital allowances, £197,500 of this liability is expected to reverse next year.

The company has unused tax losses of £8,890,058 which have not been recognised as a deferred tax asset.

Dilapidation provisions are expected to be utilised in respect of leases ending in 2027 and 2030.