REGISTERED NUMBER: SC256333 (Scotland)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 MARCH 2024 TO 31 MARCH 2025

FOR

D & E COACHES 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:

A Gunn

M Macleod

REGISTERED OFFICE:

39 Henderson Drive

Inverness

Highland

IV1 1TR

REGISTERED NUMBER:

SC256333 (Scotland)

AUDITORS:

Leiper & Summers

Statutory Auditors

4 Charlotte Street

Fraserburgh

Aberdeenshire

AB43 9JE

The directors present their strategic report for the period 1 March 2024 to 31 March 2025.

REVIEW OF BUSINESS

On 31 January 2025, the company was sold to The Highland Council. The company will continue to trade as normal and no material changes are to be made to operations.

As shown in the company's statement of comprehensive income, the company's turnover was £7.5m compared to £6.2m in the prior period. Turnover has risen due to new contracts and increased private hire income. The company's operating profit was £932,170 compared to £1,051,152 in the prior period. Operating profit has remained at a similar level in face of rising wage costs and regulatory challenges. The company has been successful in making savings in workshop costs due to fleet investment.

The balance sheet shows the company's financial position at the period end. Net assets increased from £3,622,879 to £4,006,099. Capital expenditure was £1,032,900 of which further details are set out in the notes to the accounts.

The directors are pleased with the performance of the business and its financial performance at the year end. We are optimistic for a successful outcome for the subsequent financial period.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the company are broadly grouped as follows:

- Business risk: The management of the business and our strategy are subject to a number of risks. These include competition from both national and independent operators, fluctuations in parts and fuel costs in addition to availability of drivers within the industry.

- Liquidity risk: The company maintains a cautious cash management policy and is confident of being able to continue servicing its bank loans and lease facilities in line with agreed repayment profiles. Liquidity does not pose a significant risk to the company.

- Interest rate risk: The interest and charges applied in respect of the bank borrowings are deemed manageable. The company funds the majority of its capital expenditure with hire purchase finance. The current fixed rates of hire purchase remain competitive. Interest rates do not pose a significant risk to the company.

- Credit risk: The company's policy is to minimise exposure to losses of defaulting customers. Credit terms are only granted to customers who satisfy credit worthiness procedures. Credit limits are reviewed regularly in conjunction with debt ageing and collection history.

- Safety: Safety is a high priority for the company. The directors continuously review processes to ensure our services are as safe as possible for our customers and staff.

KEY PERFORMANCE INDICATORS

The key performance indicators for the company are turnover, net assets and operating profit, which have been discussed above. The company's management and directors believe that further key performance indicators for the company are not necessary or appropriate for an understanding of the development, performance or position of the business.

FUTURE DEVELOPMENTS

The management are pleased with the company's performance in the subsequent financial period to date and will continue to invest in the fixed asset base of the business and explore opportunities with new customers when these arise.

ON BEHALF OF THE BOARD:

M Macleod - Director

19 December 2025

The directors present their report with the financial statements of the company for the period 1 March 2024 to 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of coach hire and the operation of bus services.

DIVIDENDS

Interim dividends per share were paid as follows:

£3.50

- 11 October 2024

£3.60

- 30 November 2024

£9.87

- 31 January 2025

£16.97

The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 March 2025 will be £ 169,665 .

DIRECTORS

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

D N Mathieson - resigned 31 January 2025

Mrs E Mathieson - resigned 31 January 2025

B D Mathieson - resigned 25 March 2024

S R MacLennan - resigned 31 January 2025

Mrs G L McEwan - resigned 31 January 2025

Mrs A Nicholson - resigned 31 January 2025

A Gunn - appointed 31 January 2025

M Macleod - appointed 31 January 2025

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

Leiper & Summers is deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

M Macleod - Director

19 December 2025

Opinion

We have audited the financial statements of D & E Coaches Limited (the 'company') for the period ended 31 March 2025 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 March 2025 and of its profit for the period 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 three, 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:

- Enquiry of management, those charged with governance around actual and potential litigation and claims.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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.

Susan M Hepburn CA ATT (Senior Statutory Auditor)

for and on behalf of Leiper & Summers

Statutory Auditors

4 Charlotte Street

Fraserburgh

Aberdeenshire

AB43 9JE

19 December 2025

TURNOVER

3

7,503,512

6,152,818

Cost of sales

5,316,688

4,123,900

GROSS PROFIT

2,186,824

2,028,918

Administrative expenses

1,255,513

1,017,929

931,311

1,010,989

Other operating income

859

40,163

OPERATING PROFIT

6

932,170

1,051,152

Interest receivable and similar income

7

3,235

109

935,405

1,051,261

Interest payable and similar expenses

8

171,426

185,831

PROFIT BEFORE TAXATION

763,979

865,430

Tax on profit

9

211,094

319,350

PROFIT FOR THE FINANCIAL PERIOD

552,885

546,080

OTHER COMPREHENSIVE INCOME

Revaluation of tangible asset

-

440,000

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

-

440,000

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

552,885

986,080

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

7,121,177

6,580,603

7,121,177

6,580,603

CURRENT ASSETS

Stocks

13

660,647

661,222

Debtors

14

1,160,742

1,113,082

Cash at bank

5,774

5,099

1,827,163

1,779,403

CREDITORS

Amounts falling due within one year

15

1,137,362

1,254,734

NET CURRENT ASSETS

689,801

524,669

TOTAL ASSETS LESS CURRENT LIABILITIES

7,810,978

7,105,272

CREDITORS

Amounts falling due after more than one year

16

(2,527,798

)

(2,416,406

)

PROVISIONS FOR LIABILITIES

21

(1,277,081

)

(1,065,987

)

NET ASSETS

4,006,099

3,622,879

CAPITAL AND RESERVES

Called up share capital

22

10,000

10,000

Revaluation reserve

23

440,000

440,000

Retained earnings

23

3,556,099

3,172,879

SHAREHOLDERS' FUNDS

4,006,099

3,622,879

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

M Macleod - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

10,000

2,699,884

-

2,709,884

Prior year adjustment

-

(73,085

)

-

(73,085

)

As restated

10,000

2,626,799

-

2,636,799

Changes in equity

Profit for the year

-

546,080

-

546,080

Revaluation of tangible fixed assets

-

-

440,000

440,000

Total comprehensive income

-

546,080

440,000

986,080

Balance at 29 February 2024

10,000

3,172,879

440,000

3,622,879

Changes in equity

Profit for the period

-

552,885

-

552,885

Total comprehensive income

-

552,885

-

552,885

Dividends

-

(169,665

)

-

(169,665

)

Balance at 31 March 2025

10,000

3,556,099

440,000

4,006,099

1.	STATUTORY INFORMATION

D & E Coaches Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern

The company has continued to trade profitable in the period to 31 March 2025. The directors are continuing to monitor the financial position of the company however are encouraged by the performance and resilience shown in the year and also results to date in the subsequent financial period.

The directors fully expect suitable facilities to be available to meet working capital requirements of the business to continue to trade and meet its liabilities as they fall due for a period of at least 12 months from the approval date of these financial statements. The directors therefore deem it appropriate to prepare the financial statements on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

In accordance with FRS 102, the company has taken advantage of the exemptions from the following disclosures;

- Section 7 'Statement of Cash Flows' - Presentation of a Statement of Cash Flow and related notes and disclosures.

- Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' - Carrying amounts for financial instruments measured at amortised cost or cost less impairment, interest income/expense and net gains/losses for financial instruments measured at amortised cost, loan defaults or breaches, and descriptions of hedging relationships.

- Section 33 'Related Party Disclosures' - Compensation for key management personnel.

- The company has taken advantage not to disclose transactions and balances with other members of the group.

D & E Coaches Limited is a wholly owned subsidiary of The Highland Council and the results of D & E Coaches Limited are included in the consolidated financial statements of The Highland Council which are available from www.highland.gov.uk.

Significant judgements and estimates

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 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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation - useful life and residual value of tangible fixed assets

The useful life and any residual values of tangible assets are considered and depreciation rates applied accordingly. Details of the depreciation policies applied can be found in notes of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill was initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is fully amortised.

Intangible assets

Other intangible fixed assets represent fees payable in respect of the assignation of contract work which have been initially recognised as an asset at cost and is amortised over the term of the contract. These costs are fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold land

-

not depreciated

Improvements to property

-

5% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

at variable rates on reducing balance

Motor vehicles

-

at variable rates on reducing balance

Computer equipment

-

at variable rates on reducing balance

Each class of asset is measured using the cost model other than freehold property, which is measured using the revaluation model.

Freehold property is measured at its revalued amount, being fair value at the date of valuation less subsequent impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive income and included in the revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit or loss to the extent of the decrease previously expended. Decreases that offset previous increased of the same asset are charged in other comprehensive income and debited against the revaluation reserve in equity; decreases exceeding the balance in the revaluation reserve relating to an asset are recognised in profit or loss.

Provision is made for deferred tax liabilities arising on the revaluation of land. Deferred tax assets arising on the revaluation of freehold property are not recognised as it is not considered probable that they will be recovered due to anticipated future upward movement in the fair value of the land.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through the profit and loss account, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are longer at the discretion of the company.

Taxation

Taxation for the period 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 period end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Coach and bus hire

7,501,714

6,151,299

Workshop

1,798

1,519

7,503,512

6,152,818

An analysis of turnover by geographical market is given below:

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

United Kingdom

7,503,512

6,152,818

7,503,512

6,152,818

4.	EMPLOYEES AND DIRECTORS

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Wages and salaries

2,943,271

2,230,591

Social security costs

284,934

206,831

Other pension costs

59,229

43,061

3,287,434

2,480,483

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

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

Employees

79

71

5.	DIRECTORS' EMOLUMENTS

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Directors' remuneration

187,367

185,268

Directors' pension contributions to money purchase schemes

3,787

4,671

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

Money purchase schemes

4

5

6.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Hire of plant and machinery

10,240

9,898

Other operating leases

55,156

49,554

Depreciation - owned assets

168,151

177,864

Depreciation - assets on hire purchase contracts

224,761

177,473

Loss on disposal of fixed assets

18,914

36,544

Auditors' remuneration

11,000

12,000

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Bank interest received

3,235

109

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Bank loan interest

97,632

111,174

Hire purchase

73,794

74,657

171,426

185,831

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

1.3.24

to

Year Ended

31.3.25

29.2.24

£

£

Deferred tax

211,094

319,350

Tax on profit

211,094

319,350