REGISTERED NUMBER: 02142812 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Layher Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

Mrs C Langer

G Layher

S Pike

Ms K Fox

REGISTERED OFFICE:

Unit 1b, Focus Four

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

REGISTERED NUMBER:

02142812 (England and Wales)

AUDITORS:

GH Audit Limited

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

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

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

REVIEW OF BUSINESS

The period ended 31st March 2025. The business year had to cope with earlier interest rate hikes, cost of living and high inflation, as well as some supply fluctuations, though these eased during the first quarter of the financial period. Confidence in the markets was also impacted by delays in larger projects, due to new legislation, conflicts and a general flattening of the market. There is additionally Increased activity from competitors in the markets in which we operate. Construction showed an improvement. Energy and freight increases remain very high and must be passed on to customers. However, a change in our strategy for reacting to our surroundings helped us gain some key new customers in construction, and events, as well as smaller sized clients.

In general, towards the end of the financial year, our areas of interest have all marginally increased in activity. Our market penetration share has grown through our use of increased rental activities. The final quarter of the year showed significant signs of improvement, as clients began to re-invest prior to the end of the tax year.

The competitive edge over our lookalike competitors, due to the availability of materials and solutions parts, along with a reliable, integrated technical and new innovative products has provided momentum from which we continue to grow our customer base, despite increasing competitor activity.

Our gross margin in percentage terms has dipped as we tackle the challenging market conditions and competitors, these being a key performance indicator for the business.

PRINCIPAL RISKS AND UNCERTAINTIES

Principal business risks within our sector remain our trade debtors and the fluctuating fortunes of the construction sector, along with the general uncertainties in freight and energy prices, along with the construction climate/wider economy, interest and inflationary rates. In addition to this foreign lookalike manufacturers continue to agitate on prices. These issues and risks are tolerated and measured and the appropriate responses are deployed accordingly by ensuring that our exemplary range of support services are adequately and professionally provided to all our customers.

While some risks can be mitigated or transferred by insurances, generally, financial risks, such as non- payment are considered by bad debt provisions.

All responses to potential risks are regularly monitored and any subsequent changes to business strategy are implemented as per the individual situation. Individual departmental KPI's also provide a monitored measure, and the results are used accordingly to address any areas of concern.

FUTURE DEVELOPMENTS

Generally, this is based around our digital offerings, enhancing our services and continually looking into new innovations, be that whole product lines or individual solutions parts. The company expanded its sales team, although this has not been without difficulty. We look to strengthen our sales department further in the 2025/265 period.

ON BEHALF OF THE BOARD:

S Pike - Director

22 July 2025

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

DIVIDENDS

No dividends will be distributed on equity shares for the year ended 31 March 2025.

DIRECTORS

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

Mrs C Langer

G Layher

S Pike

Ms K Fox

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, GH Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Pike - Director

22 July 2025

Opinion

We have audited the financial statements of Layher Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on 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:

We obtained an understanding of the legal and regulatory framework applicable to the Company, and the industry in which it operates by making enquiries of management. We also enquired as to whether there were any instances of non compliance with laws and regulations or whether there were any instances of fraud detected or suspected. The key laws and regulations considered include the UK Companies Act and UK Tax Legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included compliance with Health and Safety legislation.

We obtained an understanding of the Company's operations, including the nature of the company, its control environment, business performance and its key performance indicators.

We considered the extent to which non-compliance would have a material impact on the financial statements, We also evaluated the managements incentives and opportunities for fraudulent manipulation of the financial statements (including the management override of controls) and determined that the principal risks were related to:

- Management bias in accounting estimates;

- Revenue recognition; and

- Risk of payment fraud

We assessed the susceptibility of the Company's financial statements to material misstatement. Audit procedures performed by the engagement team include:

- Enquiries of management about their own identification and assessment of risk of irregularities

- Evaluation of the processes and controls established to address the risk of irregularities and fraud

- Testing manual journals, specifically those relating to large or unusual entries or entries relating to management estimates

- Substantive testing will be carried out to look at revenue recognition, including testing to look at cut off around the year end and completeness of sales.

- Testing the assumptions and judgements made by management in its significant accounting estimates, including reviewing historical data to assess the appropriateness of previous assessments

We assessed the appropriateness of the competence and capabilities of the engagement team, including the teams knowledge of the industry and the appropriateness of their practical experience through training and participation with audit engagements of a similar nature.

We also communicated the relevant laws and regulations and fraud risk indicators to the engagement team and remained vigilant throughout the audit process for indications of fraud or non-compliance.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Emma Wilsher FCA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

24 July 2025

TURNOVER

3

23,492,092

21,994,521

Cost of sales

19,563,381

17,349,623

GROSS PROFIT

3,928,711

4,644,898

Distribution costs

2,409,795

1,840,953

Administrative expenses

2,766,510

2,679,378

5,176,305

4,520,331

OPERATING (LOSS)/PROFIT

5

(1,247,594

)

124,567

Interest receivable and similar income

25,301

27,735

(1,222,293

)

152,302

Interest payable and similar expenses

6

42,000

42,000

(LOSS)/PROFIT BEFORE TAXATION

(1,264,293

)

110,302

Tax on (loss)/profit

7

(289,989

)

103,701

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(974,304

)

6,601

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(974,304

)

6,601

FIXED ASSETS

Intangible assets

9

287,035

181,022

Tangible assets

10

4,396,785

1,790,418

4,683,820

1,971,440

CURRENT ASSETS

Stocks

11

3,990,931

7,995,425

Debtors

12

14,444,752

14,224,669

Cash at bank and in hand

908,534

1,028,831

19,344,217

23,248,925

CREDITORS

Amounts falling due within one year

13

16,276,136

15,706,630

NET CURRENT ASSETS

3,068,081

7,542,295

TOTAL ASSETS LESS CURRENT LIABILITIES

7,751,901

9,513,735

CREDITORS

Amounts falling due after more than one year

14

2,874,220

3,661,750

NET ASSETS

4,877,681

5,851,985

CAPITAL AND RESERVES

Called up share capital

18

200,000

200,000

Retained earnings

19

4,677,681

5,651,985

SHAREHOLDERS' FUNDS

4,877,681

5,851,985

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2025 and were signed on its behalf by:

S Pike - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

200,000

5,645,384

5,845,384

Changes in equity

Total comprehensive income

-

6,601

6,601

Balance at 31 March 2024

200,000

5,651,985

5,851,985

Changes in equity

Total comprehensive income

-

(974,304

)

(974,304

)

Balance at 31 March 2025

200,000

4,677,681

4,877,681

Cash flows from operating activities

Cash generated from operations

1

4,702,745

4,271,743

Finance costs paid

(42,000

)

(42,000

)

Tax paid

(4,875

)

(844,146

)

Net cash from operating activities

4,655,870

3,385,597

Cash flows from investing activities

Purchase of intangible fixed assets

(115,911

)

(181,022

)

Purchase of tangible fixed assets

(4,236,347

)

(2,051,266

)

Sale of tangible fixed assets

50,740

15,908

Interest received

25,301

27,735

Net cash from investing activities

(4,276,217

)

(2,188,645

)

Cash flows from financing activities

Capital repayments in year

(499,950

)

(1,000,020

)

Net cash from financing activities

(499,950

)

(1,000,020

)

(Decrease)/increase in cash and cash equivalents

(120,297

)

196,932

Cash and cash equivalents at beginning of year

2

1,028,831

831,899

Cash and cash equivalents at end of year

2

908,534

1,028,831

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/3/25

31/3/24

£

£

(Loss)/profit before taxation

(1,264,293

)

110,302

Depreciation charges

1,625,372

737,167

Profit on disposal of fixed assets

(36,234

)

(15,908

)

Finance costs

42,000

42,000

Finance income

(25,301

)

(27,735

)

341,544

845,826

Decrease in stocks

4,004,494

66,282

Decrease in trade and other debtors

51,290

2,605,315

Increase in trade and other creditors

305,417

754,320

Cash generated from operations

4,702,745

4,271,743

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

908,534

1,028,831

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,028,831

831,899

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

1,028,831

(120,297

)

908,534

1,028,831

(120,297

)

908,534

Debt

Debts falling due within 1 year

(499,950

)

499,950

-

Debts falling due after 1 year

-

(600,000

)

(600,000

)

(499,950

)

(100,050

)

(600,000

)

Total

528,881

(220,347

)

308,534

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

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.

The accounts have been prepared on a going concern basis following confirmation that the holding company will continue to provide financial support for the company for the foreseeable future.

Significant judgements and estimates

Stock Valuation and Obsolescence

The company makes an estimate in relation to slow moving and obsolete stock. The stock movements is analysed for the sales within a 24 months time frame, excluding new stock lines, anything that has not been sold in the last two years is provided as obsolete.

Rental Provision

The company offers a rental rebate on rent to buy contracts that entitles the customer to rebates when goods are converted to an outright sale. These rebates are calculated based on the rentals already paid by the customer less a management charge. The provision is calculated taking in to account all known information however there remains a certain level of estimation and uncertainty as to whether each contract will be converted to an outright sale.

Rent to Buy Stock

The company offers goods on rent to buy contracts to its customers, the standard stock valuation for goods that are out on rental is to value them as used stock, however if the agreement is converted to an outright sale then the stock is sold based on new prices. As a separate provision is made in respect of the rebate of rentals where a rental sale is converted the company uplifts a percentage of the stock on rental back to new prices to reflect the substance of the transactions. This calculation is done looking at historical patterns and expectations and therefore includes a level of estimation and uncertainty.

Turnover

Turnover is the amount derived from ordinary activities, and is measured at the fair value of the

consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and

other similar allowances, and is stated net of VAT.

Revenue from the sale of new and used scaffolding equipment as specified in the strategic report is recognised when all the following conditions are satisfied:

- the Company has transferred to the buyer the significant risks and rewards of ownership of the

goods;

- the Company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the Company; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is

passed. When such goods are sold under rental agreements revenue is recognised evenly over the

term.

The company also has income from rental purchase agreements, details about the income recognition model for these sales is detailed below under 'Hire purchase and leasing commitments'.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

5% on cost and over period of lease

Plant and machinery

-

25% on cost, 20% on cost and 10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

33% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Rental Materials

Scaffolding equipment held to be used on short term rentals is capitalised as a fixed asset. This equipment is included at cost but depreciated down to the used material price, which represents its residual value, in the first year of ownership.

Stocks

Stocks of equipment owned by the company and held for resale or short-term hire are stated at the lower of cost and net realisable value. Net realisable value of used equipment is valued by the directors at a percentage of current list price.

Stock owned by the company and subject to long-term hire contracts is stated at cost less foreseeable losses.Rentals receivable from the long-term contracts are recognised as turnover when due and the attributable profit is spread evenly over the contract.

Financial instruments

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any

impairment losses for bad and doubtful debts.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case these are stated at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies

The financial statements are presented in Sterling (GBP), which is also the functional currency of the Company.

All transaction in foreign currencies between group companies are recorded at a fixed exchange rate. All other foreign transactions are recorded at the rate ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Hire purchase and leasing commitments

As Lessee or Purchaser:

Fixed assets acquired under hire purchase contracts or finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the contract or lease term and their useful lives.Finance charges and interest are taken to the Profit and Loss Account in constant proportion to the remaining balance of capital repayments or net obligations outstanding.

Rentals payable under operating leases are taken to the Profit and Loss account on a straight line basis over the lease term.

As Lessor or Seller:

The company provides rental purchase arrangements to certain customers.The amount due under such hire purchase contracts are treated as current assets and provision is made for any bad and doubtful rentals receivable.

Interest received on hire purchase contracts is recognised so as to give a constant rate of return over the period of the contract and is credited to the Profit and Loss Account as part of the turnover figure.

Income received under operating lease contracts is recognised evenly over the term of the contract net of an adjustment in relation to future direct costs.

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.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the principal activities of the company.

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

31/3/25

31/3/24

£

£

Supply of Goods

20,083,287

19,320,304

Supply of Services

324,146

169,111

Income from Rental Contracts

3,084,659

2,505,106

23,492,092

21,994,521

4.	EMPLOYEES AND DIRECTORS

31/3/25

31/3/24

£

£

Wages and salaries

2,699,397

2,443,844

Social security costs

160,752

153,466

Other pension costs

100,476

93,625

2,960,625

2,690,935

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

31/3/25

31/3/24

Sales and Distribution

24

20

Administration

19

19

43

39

31/3/25

31/3/24

£

£

Directors' remuneration

261,150

392,113

Directors' pension contributions to money purchase schemes

24,986

22,911

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

31/3/25

31/3/24

£

£

Emoluments etc

151,900

277,200

Pension contributions to money purchase schemes

15,154

14,586

5.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

31/3/25

31/3/24

£

£

Hire of plant and machinery

30,834

30,513

Depreciation - owned assets

1,615,474

737,167

Profit on disposal of fixed assets

(36,234

)

(15,908

)

Computer software amortisation

9,898

-

Auditors remuneration

26,780

15,840

Auditors' remuneration for non audit work

5,600

5,600

Foreign exchange differences

289

86

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/3/25

31/3/24

£

£

Preference dividend

42,000

42,000

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31/3/25

31/3/24

£

£

Current tax:

UK corporation tax

(26,731

)

54,660

Previously Under/Overprovided

(27,929

)

49,041

Total current tax

(54,660

)

103,701

Deferred tax

(235,329

)

-

Tax on (loss)/profit

(289,989

)

103,701

Reconciliation of total tax (credit)/charge included in profit and loss

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

31/3/25

31/3/24

£

£

(Loss)/profit before tax

(1,264,293

)

110,302

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

(316,073

)

27,576

Effects of:

Expenses not deductible for tax purposes

6,996

2,591

Depreciation in excess of capital allowances

63,248

13,993

Losses Carried Back

(26,731

)

-

Non equity dividend not deductible

10,500

10,500

Overprovided in earlier years

(27,929

)

-

R&D Tax Credits

-

49,041

Total tax (credit)/charge

(289,989

)

103,701

The corporation tax remained unchanged during the year at 25%

8.	DEFERRED TAX

A deferred tax asset of £235,329 has been recognised in the accounts based on the utilisation of tax losses against forecast profits assessed as probable.