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

The reporting year ended 31 March 2025 has continued to demonstrate that longstanding assumptions relating to death rates and allied statistics are yet to normalise post-COVID 19 - a trend that we assess is likely to continue for the foreseeable future.

Like many care-focused businesses, the unrelenting demands placed on our committed and capable colleagues has continued to take its toll exacerbated by external pressures, such as the increased cost of living. The directors remain truly grateful for the manner in which all our colleagues around the Group continue to deliver unstintingly excellent service to our customers; be they bereaved families, local authorities/public bodies or the ever increasing number of funeral directing businesses who form part of Seker's eFD user community.

The role of regulation in the Funeral Sector has continued to evolve. CMA and FCA regulation is now well established, albeit provides superficial, administrative focused regulation for what is an inescapably operationally focused sector: We support the introduction of constructive and fair regulation, however this regulation must, focus on consumer protection in services as well as finance and administration. We continue to monitor the regulatory framework in Scotland, to understand the potential implications for future regulation of the sector in England & Wales.

The Group is principally dependent upon the national death rate where historically a decline in deaths, through healthier and longer living as well as improved standards of healthcare, has had a beneficial impact upon life expectancy. The sudden onset of the global COVID-19 pandemic in 2020 resulted in a significant increase in the number of deaths. The disruption to the underlying UK health protection regime caused by the lockdowns and reduction in traditional cold and flu epidemics has also changed the nature of the UK death rate. This has been further exacerbated by the disruption to healthcare provision and access to various treatments as covered extensively in the UK press. We anticipate that this will continue to have an effect on the prevailing national death rate for the medium term. The directors remain alert to the potential for cyclical. fluctuations in demand in specific areas or regions as well as wider issues that may impact upon the overall national death rate.

The evolving nature of the delivery of funeral and related services can place a strain and pressure on our diligent, committed colleagues, exacerbated by non-professional pressures, well reported, such as increased pressures on the cost of living. The Group has for some time pioneered sector-leading wellbeing and support processes to ensure that our colleagues are well placed to meet and serve the demanding needs of the communities for whom we care in dignified manner with appropriately resourced and trained teams of funeral care professionals. The directors continue to keep these measures, policies and procedures under review.

Our Seker Holdings & Seker Tech subsidiaries provide cloud-based funeral management software to the UK funeral industry. Whilst it practices highest standards of security and maintains ISO 27001 accreditation, the ever-present risk of attack in the cyber domain represents a risk. The directors maintain a full range of insuránce policies to treat the risk of malign activity, which are reviewed regularly, in line with the house security protocols.

Given the inescapable link between individual instances of personal loss and the Group's performance metrics, the directors do not agree with the requirement to provide Key Performance Indicators.

Financial performance for 2024/25 has been in line with the expectations of the directors. Revenue for the year increased up to £11,671,683 (2024: £11,522,884) as the number of deaths returned to expected levels. Reflecting the increased investment in the business, the loss before taxation for the year was £871,309 (2024: £404,721).

The Group made a loss for the year and has net current liabilities at 31 March 2025.

As the result of the continuing losses, the directors have undertaken a review of the group's operations and identified potential cost savings and property disposals to improve cash flow. The Group's bankers have also agreed to continue to provide overdraft facilities and, if necessary, certain shareholders have agreed to provide, limited financial support to meet day to day running costs for a period of at least one year from the date of approval of these financial statements in the event those cost savings and property disposals are delayed or deferred.

As a result, the Group's forecasts and projections, which take account of reasonably possible changes in trading performance, show that the Group should be able to operate within the level of its current resources.

Given the above, and the level of current cash reserves, the directors have a reasonable expectation that the company and the Group have adequate resources to continue in operational existence for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. As a result, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

On behalf of the board

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

The principal activities of the Group and company continued to be that of Funeral Directors; Monumental Masons; International Repatriation Agents; providers of Pre-paid Funeral Plans and the owner and operator of a cloud-based funeral home management software.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In the opinion of the directors, the market value of the freehold land and buildings owned by the Group is significantly more than the net book value recorded in the financial statements, but they are unable to quantify this excess in the absence of a professional valuation, the costs of which are not considered justifiable in view of the Group's intention to retain ownership of its existing properties for use in its business for the foreseeable future.

The Group's operations expose it to a variety of financial risks including the effects of changing interest rates debt, credit risk and liquidity risk. The Group has no material exposure in the above areas.

The Group's principal financial instruments comprise sterling cash and bank deposits, bank loans and overdrafts, other loans and obligations under finance leases. In addition, there are debtor and creditor balance's that arise directly from trading operations.

The main risks, arising from the Group's financial instruments, can be analysed as follows:

To ensure continuity of funding the Group has always acquired an element of its fixed assets through finance leasing. Bank credit facilities, which give short-term flexibility, and medium-term loans fund acquisitions by the Group.

Interest bearing assets comprise cash and bank deposits, all of which earn interest at a fixed rate. The interest payable on bank loans and overdrafts is at a variable market rate. It is the Group's policy to ensure that significant movements in interest rates do not have a material impact on cash flow. The directors monitor the overall level of borrowings and interest costs to ensure that there are no adverse effects on the financial performance of the Group.

The Group's principal financial assets are bank balances, cash and debtors, which represent the Group's maximum exposure to credit risk.

As a 10th generation family business the Group views its responsibilities to society as a core function of responsible citizenship. The Directors seek to ensure that the Group is run in such a manner that enhances the environments in which it operates, as well as playing a full part in the communities that it serves. The Group ensures that it effectively manages actual and potential impacts that our activities may have. We comply with all legal requirements relating to the environment, most of which fall by statutes to final service providers such as cemetery and crematoria authorities. During the reporting period the Group has received no fines or penalties, nor has it been investigated, for any breach of environmental regulations.

The directors continue to review how they can be an ambassador for change amongst family businesses in the sustainability sphere.

We continue to provide philanthropic support to society. Over the reporting period the group has supported a number of charitable organisations through. donations and grants and by colleague led fundraising activities. The Group continues to provide outreach activities under the 'Never Alone' campaign. During the period, the Group was successfully re-accredited as a Silver Employer Recognition Award Holder, by the Ministry of Defence’ Employer Recognition Scheme noting the Group’s commitment to supporting the Armed Forces Community.

The Directors recognise the strength of the Group is dependent upon the quality, enthusiasm and skill of colleagues of all levels. The Group's success is derived from the dedication of our colleagues who routinely provide the very highest levels of care and service to those who are learning to live with the effects of grief and bereavement It is not possible to convey the Directors' fullest admiration for colleagues in a few brief sentences of a report.

Recognising the emotional toll that this can take; the Group has developed a sector leading approach to wellbeing involving the use of mindfulness, personal resilience techniques and a wellbeing log. The Group also ensures that 24/7 counselling is available to all colleagues and their families.

The Group undertakes an annual survey of colleagues to measure its own performance in providing a supportive, professional and caring environment, and shares the results with all colleagues.

The auditor Richard Place Dobson Services Limited is deemed to be reappointed under section 487(2) of the Companies Act 2006.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

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

• state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of C.P.J. Field & Co Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

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

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

• the parent company financial statements are not in agreement with the accounting records and returns; or

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

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

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.

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

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

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, the audit engagement team made enquiries of management, and those charged with governance, regarding the procedures relating to identifying, evaluating and complying with;

1. laws and regulations and whether they were aware of any instances of non-compliance;

2. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

3. the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Companies Act 2006, employment and tax law and regulations and data protection regulations. We performed audit procedures to detect non-compliance, which may have a material impact on the financial statements. These included reviewing financial statement disclosures and evaluating advice received from internal management. There were no significant laws and regulations we deemed as having an indirect impact on the financial statements.

Discussion was had with management and amongst the engagement team to gain an understanding of the entities current activities, authorisation procedures and effectiveness of the control environment. Our understanding was tested during the audit work and the systems controls in place were found to be operating effectively. We reviewed all material transactions and journal adjustments both during the year and after the year end for evidence of manipulation. In addition, we performed analytical procedures to identify any unusual or unexpected relationships.

For a sample of sales during the year, we obtained and reviewed the supporting documentation. We reviewed income recognition by vouching a sample of invoices from the internal systems and vouching them to supporting documentation. We reviewed the nominal ledger for any evidence of manipulation by management. We tested a sample of transactions before and after the year end to ensure appropriate cut-off procedures have been followed.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £437,273 (2024 - £86,280 loss).

C.P.J. Field & Co Limited (“the company”) is a private limited company by shares and is registered and incorporated in England and Wales. The registered office is Rampion House, Marchants Way, Burgess Hill, West Sussex, RH15 8QY.

The group consists of C.P.J. Field & Co Limited and its subsidiaries.

The company's and the group's principal activities and nature of its operations 'are disclosed in the Directors' Report.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The consolidated financial statements incorporate those of C.P.J. Field & Co. Limited and its subsidiaries (i.e. entities that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

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

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

The cost of a business combination is the fair value at the acquisition date of the, assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the, identifiable assets; liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition

The Group made a loss for the year of £697,881 (2024: £308,899) and has net current liabilities at 31 March 2025 of £1,166,661 (2024: £728,710).

As the result of the continuing losses, the directors have undertaken a review of the group's operations and identified potential cost savings and property disposals to improve cash flow. The Group's bankers have also agreed to continue to provide overdraft facilities and, if necessary, certain shareholders have agreed to provide limited financial support to meet day to day running costs for a period of at least one year from the date of approval of these financial statements in the event those cost savings and property disposals are delayed or deferred.

As a result, the Group's forecasts and projections, which take account of reasonably possible changes in trading performance show that the Group should be able to operate within the level of its current resources.

Given the above, and the level of current cash reserves, the directors have a reasonable expectation that the company and the Group have adequate, resources to continue in operational existence for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. As a result, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Other income

Rental income on assets leased under operating leases is recognised on a straight-line basis over the lease term and is presented within other operating income,

Goodwill is capitalised at cost and written off evenly over 20 years as in the opinion of the directors, this represents the period over which the goodwill is expected to give rise to economic benefits.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Amortisation is included within administrative expenses.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets other than freehold land.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at 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.

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

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument, and are offset only when the. group currently has a legally enforceable right to set off the recognised amounts and intends to settle on a net basis or to realise the asset and settle the liablity simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets, other than those held at fair value through profit and loss, 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 occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group 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.

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 group after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when, and only when, the group's contractual obligations expire or are discharged, cancelled, or they expire.

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs.

The tax expense represents the sum of the tax currently payable and deferred tax. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive. income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in period's different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

The costs of short-term employee benefits are recognised as a liability and an expense.

The holiday year for the Group ends at the reporting date and employees are not entitled to carry forward unused holiday.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

In the application of the group’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:

The recoverable amount of goodwill and other intangible assets is based on value in use which requires estimates in respect of the allocation of goodwill to cash generating units, the future cash flows and an appropriate discount rate. The key inputs to the value in use calculations are the discount rate and the future earnings growth.

Deferred tax assets are recognised for deductible temporary differences only if the company considers it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

The average monthly number of persons (including directors) employed by the group and company during the year was:

Their aggregate remuneration comprised:

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

Loans to subsidiaries represents loans held as investments by the company. The loans have been classified as investments since repayment is not expected in the short term, and instead these represent an investment in the long term nature of the projects and activities of the subsidiaries.

Details of the company's subsidiaries at 31 March 2025 are as follows:

Registered office addresses (all UK unless otherwise indicated):

a) Rampion House, Marchants Way, Burgess Hill, West Sussex, RH15 8QY.

The bank loan and overdrafts are secured by fixed charges over certain assets of the Group.

The bank loan which was for a 5 year term with final repayment due in May 2024, was repaid during the year.

Finance lease payments represent rentals payable by the company for certain motor vehicles. The average remaining lease term is 3 years (2024: 3 years). All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

The Company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the Company.

Represents consideration received for shares issued in excess of their nominal value net of transaction costs.

Represents cumulative profit and loss net of distributions to owners.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The remuneration of key management personnel of the group, which includes directors, is as follows:

The compnay has taken advantage of the exemption not to disclose related party transactions or balances between wholly owned members of the same group.

The following amounts were outstanding at the reporting end date:

The following amounts were outstanding at the reporting end date:

Other related parties relate to a company under common directorship.

The company is owned and controlled by the directors.