REGISTERED NUMBER: SC324402 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Dalkeith Retail Centre Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Financial Statements

12

DIRECTORS:

G Salmond

W J Short

M W Short

Mrs J M Short

I A Short

D G Short

B D Short

D Thomson

H Henderson

SECRETARY:

Mrs J M Short

REGISTERED OFFICE:

39-41 Bonnyrigg Road

Dalkeith

Midlothian

EH22 3HF

REGISTERED NUMBER:

SC324402 (Scotland)

AUDITORS:

Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

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

FAIR REVIEW OF THE BUSINESS

Turnover increased to over £91 million, from £89 million and profit was lower at around £900,000 the directors note that the profit was lower partly due to the costs associated with opening our Dundee branch.

Gross margin was in line with expectations, a slight reduction due to the sales mix.

Liabilities are being met and the company has no issues with day to day funding of its operations.

The directors are satatisfied with the level of profitability in a market that is increasingly competive and are confident that the investment made in the business will pay dividends in forthcoming years

The directors would like to thank its loyal customer base, who continue to buy vehicles and use our approved service departments and new customers who have discovered our dealerships during this year. The directors are aware that in today's market customer locality cannot be taken for granted.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors are aware that Dalkeith Retail Centre Limited are in a very competitive market and we will continue to ensure that the customer experience is a good one, investing in both our dealerships and our people. The director's note there will be inevitable pressures on our margins due to rising inflation and are taking all steps to ensure we remain competitive whilst delivering the service our customers expect.

FUTURE DEVELOPMENTS

The directors are exploring options to expand the business and strengthen our partnership with the Ford Motor Company, we opened a site in Dundee in 2024 and are confident that it will be a strong addition to our sites in central Scotland.

ON BEHALF OF THE BOARD:

D G Short - Director

30 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 under review was that of the retail and after sales service of motor vehicles

DIVIDENDS

Particulars of dividends are detailed in note 12 of the financial statements.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

G Salmond

W J Short

M W Short

Mrs J M Short

I A Short

D G Short

B D Short

D Thomson

Other changes in directors holding office are as follows:

H Henderson was appointed as a director after 31 December 2024 but prior to the date of this report.

DISCLOSURE OF INFORMATION IN THE STRATEGIC REPORT

The directors have chosen to disclose information regarding future developments in the strategic report.

DIRECTORS' RESPONSIBILITIES STATEMENT

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

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

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

- select suitable accounting policies and then apply them consistently;

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

- 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 an

AUDITORS

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

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and

- they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

ON BEHALF OF THE BOARD:

D G Short - Director

30 December 2025

Opinion

We have audited the financial statements of Dalkeith Retail Centre Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement 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:

Discussions were held with, and enquires made of, management and those charged with governance with a view to

identifying those laws and regulations that could be expected to have a material impact on the financial statements.

During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity;

- Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

- It is considered that there are no laws and regulations for which non-compliance may be fundamental to the

operating aspects of the business.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and

non-compliance with laws and regulations) comprised of:

- inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations;

- enquiries with the same concerning any actual or potential litigation or claims;

- inspection of relevant legal correspondence;

- review of board minutes;

- testing the appropriateness of entries in the nominal ledger, including journal entries;

- reviewing transactions around the end of the reporting period;

- the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including

fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls and the

nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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.

William A S Gunn (Senior Statutory Auditor)

for and on behalf of Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

30 December 2025

TURNOVER

4

91,682,959

89,086,758

Cost of sales

82,883,326

80,456,856

GROSS PROFIT

8,799,633

8,629,902

Administrative expenses

7,748,538

6,565,721

1,051,095

2,064,181

Other operating income

5

-

2,459

OPERATING PROFIT

1,051,095

2,066,640

Interest payable and similar expenses

8

(157,672

)

(103,237

)

PROFIT BEFORE TAXATION

9

893,423

1,963,403

Tax on profit

11

216,249

483,536

PROFIT FOR THE FINANCIAL YEAR

677,174

1,479,867

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

677,174

1,479,867

FIXED ASSETS

Tangible assets

13

3,116,878

300,941

CURRENT ASSETS

Stocks

14

25,189,857

15,971,682

Debtors

15

2,300,073

3,258,381

Cash at bank and in hand

827,286

1,691,541

28,317,216

20,921,604

CREDITORS

Amounts falling due within one year

16

22,253,007

14,083,818

NET CURRENT ASSETS

6,064,209

6,837,786

TOTAL ASSETS LESS CURRENT LIABILITIES

9,181,087

7,138,727

CREDITORS

Amounts falling due after more than one year

17

(1,530,798

)

(92,086

)

PROVISIONS FOR LIABILITIES

20

(161,332

)

(74,868

)

NET ASSETS

7,488,957

6,971,773

CAPITAL AND RESERVES

Called up share capital

21

5,060

5,050

Retained earnings

22

7,483,897

6,966,723

SHAREHOLDERS' FUNDS

7,488,957

6,971,773

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

D G Short - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

5,050

5,616,856

5,621,906

Profit for the year

-

1,479,867

1,479,867

Total comprehensive income

-

1,479,867

1,479,867

Dividends

-

(130,000

)

(130,000

)

Total investments by and distributions to owners

-

(130,000

)

(130,000

)

Balance at 31 December 2023

5,050

6,966,723

6,971,773

Profit for the year

-

677,174

677,174

Total comprehensive income

-

677,174

677,174

Issue of share capital

10

-

10

Dividends

-

(160,000

)

(160,000

)

Total investments by and distributions to owners

10

(160,000

)

(159,990

)

Balance at 31 December 2024

5,060

7,483,897

7,488,957

Cash flows from operating activities

Cash generated from operations

25

1,127,418

117,828

Interest paid

(128,219

)

(31,190

)

Finance costs paid

(29,453

)

(72,047

)

Tax paid

(479,159

)

(370,827

)

Net cash from operating activities

490,587

(356,236

)

Cash flows from investing activities

Purchase of tangible fixed assets

(2,974,720

)

(65,754

)

Net cash from investing activities

(2,974,720

)

(65,754

)

Cash flows from financing activities

New loans in year

2,000,000

-

Loan repayments in year

(220,132

)

(96,953

)

Share issue

10

-

Dividends paid

(160,000

)

(130,000

)

Net cash from financing activities

1,619,878

(226,953

)

Decrease in cash and cash equivalents

(864,255

)

(648,943

)

Cash and cash equivalents at beginning of year

26

1,691,541

2,340,484

Cash and cash equivalents at end of year

26

827,286

1,691,541

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 39 - 41 Bonnyrigg Road, Dalkeith, Midlothian, EH22 3HF.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents the amount due for goods sold, for services provided and for finance commissions earned stated net of discounts and value added tax.

Sales of goods are recognised when the goods are delivered, sales of services are recognised when the service has been provided and finance commissions are recognised on delivery of the related vehicles.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks

Stocks are measured at the lower of invoiced cost and net realisable value. Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

The directors have considered the terms of the manufacture's consignment stocking agreement with specific reference to those terms that have a significant bearing on the allocation of risks and rewards of ownership between the company and the manufacturer. These terms are the company's ability to return stock to the manufacturer without penalty, the manufacturer's ability to relocate stocks to third parties and the point in time at which consideration payable on adoption of the stock is determined.

Where based on this assessment, the directors consider that the substance of the manufacturer's consignment agreement is such that the risks and rewards of ownership are substantially transferred to the company, the stocks are recognised on the balance sheet and the corresponding liability to the manufacturer is included within creditors

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets, such as trade debtors and current liabilities, such as trade creditors are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Cash and short term deposits in the statement of financial position comprise cash at bank and on hand, which are subject to insignificant change in value.

The company has not designated any financial current assets or liabilities as at fair value through profit and loss.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

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

Estimates

The preparation of the company's financial statements requires management to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the accompanying disclosures and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however may change to market changes or or circumstances arising that are beyond the control of the company.

Used vehicles

The assessment of the net realisable value of used motor vehicle inventory involves an element of assimilation.

The company conducts this assessment by considering age and condition of the vehicle, current model mix and using external market data along with own experience and expectations. As used vehicles values are subject to short term market distortions, a material reduction to carrying values could occur.

Defined contribution plans

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.

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the company will have adequate resources to continue to operate for the foreseeable future.

The directors review any measures or events that have the potential to have a significant impact on the company's ability to continue its activities, such as disruption to supply chains. At the time of approval of the financial statements,no issues in this area has been identified.

The directors therefore consider it is appropriate to prepare these financial statements on the going concern basis.

Depreciation

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

Plant and machinery - 20% straight line

Fixtures and fittings - 20% straight line

Price risk, credit risk, liquidity risk and cash flow risk

Price Risk

Price risk is the risk that changes to the value of stock have the potential to impact on the profitability of the company. The company has polices in place to manage this risk, as laid out in the key estimation and judgement policy.

Credit Risk

Credit risk is the risk that one party of a financial instrument will cause a financial loss for the other party by failing to discharge it obligation. Company policies are aimed at minimising such losses and require customers to prove credit worthiness prior to purchase of goods. The company does not consider that it is materially exposed to credit risk.

Cash flow and liquidity risk

Cash flow and liquidity risk is the risk that the company's available cash will not be sufficient to meets its financial obligations. The company actively manages its cash flow position including collection of debts and timely payment of creditors. This coupled by funding provided by a stocking loan facility is deemed sufficient to minimise the company's exposure to cash flow and liquidity risk.

4.

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:

31.12.24

31.12.23

£

£

Sale of goods

91,682,959

89,086,758

91,682,959

89,086,758

An analysis of turnover by geographical market is given below:

31.12.24

31.12.23

£

£

United Kingdom

91,682,959

89,086,758

91,682,959

89,086,758

5.	OTHER OPERATING INCOME

31.12.24

31.12.23

£

£

Other operating profit

-

2,459

6.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

4,473,220

3,673,254

Social security costs

430,978

355,906

Other pension costs

79,244

67,449

4,983,442

4,096,609

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

31.12.24

31.12.23

Administrative staff

16

15

Management staff

6

5

Number of sales staff

65

50

Number of service staff

48

40

135

110

7.	DIRECTORS' EMOLUMENTS

31.12.24

31.12.23

£

£

Directors' remuneration

327,500

279,583

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

Money purchase schemes

6

5

Information regarding the highest paid director is as follows:

31.12.24

31.12.23

£

£

Accrued pension at 31 December 2024

90,000

15,649

Accrued lump sum at 31 December 2024

30,000

68,333

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Interest on banks loans and

overdrafts

104,353

31,190

Other interest payable

23,866

-

Interest on stock loan

29,453

72,047

157,672

103,237

9.	PROFIT BEFORE TAXATION

The profit is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

158,783

107,943

10.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

10,000

9,600

Total audit fees

10,000

9,600

11.

TAXATION

Analysis of the tax charge

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

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

129,785

475,835

Deferred tax

86,464

7,701

Tax on profit

216,249

483,536

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

31.12.24

31.12.23

£

£

Profit before tax

893,423

1,963,403

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.570%)

223,356

462,774

Effects of:

Expenses not deductible for tax purposes

-

4,185

Capital allowances in excess of depreciation

(7,107

)

-

Depreciation in excess of capital allowances

-

17,559

Adjustments relating to changes in tax rate during the period

-

(982

)

Total tax charge

216,249

483,536

12.

DIVIDENDS

31.12.24

31.12.23

£

£

Ordinary shares shares of 1 each

Dividends paid during the year

160,000

130,000

13.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

-

306,213

627,317

933,530

Additions

2,486,656

250,300

237,764

2,974,720

At 31 December 2024

2,486,656

556,513

865,081

3,908,250

DEPRECIATION

At 1 January 2024

-

196,582

436,007

632,589

Charge for year

16,578

57,706

84,499

158,783

At 31 December 2024

16,578

254,288

520,506

791,372

NET BOOK VALUE

At 31 December 2024

2,470,078

302,225

344,575

3,116,878

At 31 December 2023

-

109,631

191,310

300,941