REGISTERED NUMBER: 12487178 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

COOPER GROUP HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Mrs M S Cooper

D A Cooper

SECRETARY:

Mrs M S Cooper

REGISTERED OFFICE:

Holly Farm Business Park

Honiley

Kenilworth

Warwickshire

CV8 1NP

REGISTERED NUMBER:

12487178 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

The Board of Directors is pleased to present the strategic report for Cooper Group Holdings Ltd and its subsidiaries for the year ended 31 March 2025.

Group Overview

Cooper Group Holdings Ltd serves as the parent company for three operational divisions dedicated to the supply of handling equipment across ports, terminals, heavy industry, and the nuclear sector throughout the UK and Ireland.

The divisions include:

Cooper Specialised Handling Ltd, responsible for sales and distribution.

Cooper Handling Solutions Ltd, focusing on maintenance, parts delivery, and the management of an extensive and modern short-term rental fleet.

Cooper Specialised Handling Ireland Ltd established in April 2024, which executes all group operations in Northern and Southern Ireland.

REVIEW OF BUSINESS

The fiscal year 2024/2025 witnessed a robust resurgence in turnover and profitability, despite facing challenging trading conditions. This outcome was largely attributed to an unforeseen surge in performance across specific market sectors.

The year exemplified the strength of the Cooper brand, demonstrating its pivotal role in various market segments, specifically bulk, break-bulk, and container handling. The Group adeptly pivoted away from underperforming areas to capitalise on sectors exhibiting heightened activity, all while maintaining vigilant engagement with subdued markets in anticipation of potential resurgence.

Turnover reached £16,772,779, reflecting a remarkable 34% increase over the previous year, while gross profit surged by 41% to £3,498,653, further underscoring the solutions-driven approach of the business.

However, overhead costs increased primarily due to the establishment of dedicated sales resources for the material handler range (delayed previously) and the full-year operation and accompanying set-up costs of the Harwich facility.

Notably, changes in routing for reachstacker deliveries from RoRo via Europort in Rotterdam to Felixstowe have diminished the competitive advantage of the Harwich facility, resulting in a strategic decision to close this location by the end of 2025.

The Group expanded its footprint into the Republic of Ireland, with transactions commencing on 1 April 2024, thus creating a dedicated business in this region that streamlines EU trade opportunities into Northern Ireland. While this move slightly diluted the trading figures of Cooper Handling Solutions Ltd, it has allowed for a favourable comparison for the group as a whole compared to previous trading years.

PRINCIPAL RISKS AND UNCERTAINTIES

Political and Economic Factors

The current economic landscape has been characterised by stagnant GDP growth and unexpectedly high inflation, undermining confidence and exerting pressure on the container logistics market, where competition has intensified. Uncertainty remains prevalent, inhibiting proactive trading strategies, as stakeholders adopt a 'wait-and-see' approach amid geopolitical fluctuations.

Staffing Challenges

Recruiting high-calibre personnel, both in field operations and administrative roles, presents significant challenges. Despite the Group's competitive remuneration strategy, there is a notable reluctance among qualified candidates to pursue new career opportunities, a situation particularly acute among plant-based field engineers.

FINANCIAL RISK MANAGEMENT

The customer profile for the Group, which predominantly invests in high-value capital goods, presents minimal credit risk, with each machine sale generating positive cash flow. Long-term rentals are assigned to accredited leasing companies, thereby transferring credit risk, while short-term rentals necessitate stringent credit control measures. The Group effectively eliminates exchange rate risk by conducting all transactions in Euro.

The management team proactively assesses the Group's cash position, strategising 6-12 months ahead to ensure the availability of requisite funds. Additionally, collaboration with key suppliers is emphasised through the renewal of long-term contracts, safeguarding the interests of all parties involved.

KPI'S

2025

2024

Group Turnover

£16,772,779

£12,549,133

Up 34% on previous year

2024

2024

Group Gross Profit

£3,498,653 (20.9% of turnover)

£2,485,644(19.8% of turnover)

2025

2024

Group Overheads

£1,929,619 (11.5% of turnover)

£1,592,892 (12.7% of turnover)

THREATS AND OPPORTUNITIES

The transition to electrification presents both a threat and an opportunity, as UK ports and terminals aim for a net-zero target by 2040, despite currently underdeveloped supporting infrastructure.

The Cooper range now includes electric-powered options for both mains-operated cranes and battery-powered mobile equipment.

A strategic realignment will see the Group discontinue its previous supplier arrangement for material handlers, resulting in updated forecasts and budgets.

Delays in project timelines have shifted opportunities for crane-related business into 2026, presenting a significant market potential for the forthcoming year.

The rise of low-cost competition driven by globalization poses challenges in maintaining competitive pricing.

OUTLOOK

The future outlook for Cooper Group Holdings Ltd is predominantly contingent upon the revival of economic confidence and the stabilization of trading conditions, particularly within the container logistics sector. The Group is strategically positioned to capitalise on emerging opportunities, backed by a robust pipeline of enquiries exceeding £120 million across various sectors and product categories.

The Group's esteemed reputation for excellence in after-sales service has been significantly bolstered, contributing to enhanced customer loyalty and reinforcing the capacity to attract new business. This commitment to quality service not only fortifies existing client relationships but also serves as a compelling differentiator in a competitive marketplace.

In anticipation of a rebound in economic activity, the Group is resolutely focused on leveraging its strengths, including an agile operational model and a diverse service portfolio, to navigate potential challenges and seize growth opportunities. In pursuing strategic objectives, it is the aim to enhance market share while ensuring sustainable profitability and continued stakeholder value in the evolving landscape of the industry.

In summary, the Group remain optimistic about its prospects and are diligently preparing to adapt to the changing market dynamics, positioning Cooper Group Holdings Ltd for continued success in the forthcoming periods.

ON BEHALF OF THE BOARD:

D A Cooper - Director

30 December 2025

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

DIVIDENDS

An interim dividend of 3.3333 per share was paid on 31 March 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 30,000 .

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 M S Cooper

D A Cooper

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group 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;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D A Cooper - Director

30 December 2025

Opinion

We have audited the financial statements of Cooper Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 March 2025 and of the group's 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 group 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 the 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 directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 group's and the 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 the parent 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

- reference to past history and experience of the Entity,

- enquiring of management, including obtaining and reviewing supporting documentation, concerning the Entity's procedures relating to:

- identifying and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detection and response to risk of fraud and whether they were aware of any actual or suspected instances of fraud.

- assessment of the controls and processes that the Entity has in place to mitigate risk in these areas

We obtained an understanding of the legal and regulatory frameworks applicable to the company based on our understanding of the company and sector experience and discussions with management. The most significant considerations for the company are the Companies Act 2006, corporate taxes and VAT legislation, employment taxes, health and safety and the Bribery Act 2010.

We carried out discussions among the engagement team, who also undertook the audit testing, to assess how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of these discussions, we identified potential for fraud in the following areas:

- management override of control; and

- revenue recognition - specifically in respect of completeness and cut-off and manipulation of revenue through management override of journals.

We designed and executed procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

- We critically assessed the appropriateness and tested the application of the revenue and cost recognition policies.

- We tested the appropriateness of accounting journals and other adjustments made in the preparation of the financial statements. We were able to identify and analyse the complete population of all journals in the year to identify and substantively test any which we considered were indicative of management override.

- We reviewed the company's accounting policies for non-compliance with relevant standards. Our work also included considering significant accounting estimates for evidence of misstatement or possible bias and testing any significant transactions that appeared to be outside the normal course of business.

- We made enquiries of management and reviewed correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements,recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

Mark Spafford FCCA FCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

30 December 2025

TURNOVER

3

16,772,779

12,549,133

Cost of sales

13,274,126

10,063,469

GROSS PROFIT

3,498,653

2,485,664

Administrative expenses

1,755,580

1,400,579

1,743,073

1,085,085

Other operating income

12,697

108,464

OPERATING PROFIT

5

1,755,770

1,193,549

Interest receivable and similar income

2,063

9,096

1,757,833

1,202,645

Interest payable and similar expenses

6

174,039

192,313

PROFIT BEFORE TAXATION

1,583,794

1,010,332

Tax on profit

7

391,337

208,293

PROFIT FOR THE FINANCIAL YEAR

1,192,457

802,039

Profit attributable to:

Owners of the parent

1,192,457

802,039

PROFIT FOR THE YEAR

1,192,457

802,039

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,192,457

802,039

Total comprehensive income attributable to:

Owners of the parent

1,192,457

802,039

FIXED ASSETS

Tangible assets

10

1,646,352

1,872,003

Investments

11

-

-

1,646,352

1,872,003

CURRENT ASSETS

Stocks

12

1,940,700

1,665,944

Debtors: amounts falling due within one year

13

9,770,891

5,347,169

Debtors: amounts falling due after more than one year

13

1,361,023

1,143,204

Cash at bank and in hand

266,594

1,167,381

13,339,208

9,323,698

CREDITORS

Amounts falling due within one year

14

6,674,417

3,929,797

NET CURRENT ASSETS

6,664,791

5,393,901

TOTAL ASSETS LESS CURRENT LIABILITIES

8,311,143

7,265,904

CREDITORS

Amounts falling due after more than one year

15

(1,329,181

)

(1,367,783

)

PROVISIONS FOR LIABILITIES

18

(361,361

)

(439,977

)

NET ASSETS

6,620,601

5,458,144

CAPITAL AND RESERVES

Called up share capital

19

9,000

9,000

Retained earnings

20

6,611,601

5,449,144

SHAREHOLDERS' FUNDS

6,620,601

5,458,144

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 A Cooper - Director

FIXED ASSETS

Tangible assets

10

-

-

Investments

11

11,089

11,001

11,089

11,001

CURRENT ASSETS

Debtors: amounts falling due within one year

13

3,000

3,000

CREDITORS

Amounts falling due within one year

14

5,089

5,001

NET CURRENT LIABILITIES

(2,089

)

(2,001

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,000

9,000

CAPITAL AND RESERVES

Called up share capital

19

9,000

9,000

SHAREHOLDERS' FUNDS

9,000

9,000

Company's profit for the financial year

30,000

50,000

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 A Cooper - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

9,000

4,697,105

4,706,105

Changes in equity

Dividends

-

(50,000

)

(50,000

)

Total comprehensive income

-

802,039

802,039

Balance at 31 March 2024

9,000

5,449,144

5,458,144

Changes in equity

Dividends

-

(30,000

)

(30,000

)

Total comprehensive income

-

1,192,457

1,192,457

Balance at 31 March 2025

9,000

6,611,601

6,620,601

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

9,000

-

9,000

Changes in equity

Dividends

-

(50,000

)

(50,000

)

Total comprehensive income

-

50,000

50,000

Balance at 31 March 2024

9,000

-

9,000

Changes in equity

Dividends

-

(30,000

)

(30,000

)

Total comprehensive income

-

30,000

30,000

Balance at 31 March 2025

9,000

-

9,000

Cash flows from operating activities

Cash generated from operations

1

404,100

1,060,411

Interest paid

(5,086

)

(4,627

)

Interest element of hire purchase payments paid

(168,953

)

(187,686

)

Tax paid

(356,387

)

(80,931

)

Net cash from operating activities

(126,326

)

787,167

Cash flows from investing activities

Purchase of tangible fixed assets

(191,095

)

(104,475

)

Sale of tangible fixed assets

356,940

179,729

Interest received

2,063

9,096

Net cash from investing activities

167,908

84,350

Cash flows from financing activities

Capital repayments in year

(266,979

)

(345,227

)

Amount withdrawn by directors

(645,390

)

(580,402

)

Refinancing of tangible fixed assets

-

477,733

Equity dividends paid

(30,000

)

(50,000

)

Net cash from financing activities

(942,369

)

(497,896

)

(Decrease)/increase in cash and cash equivalents

(900,787

)

373,621

Cash and cash equivalents at beginning of year

2

1,167,381

793,760

Cash and cash equivalents at end of year

2

266,594

1,167,381

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,583,794

1,010,332

Depreciation charges

338,227

236,224

Profit on disposal of fixed assets

(145,126

)

(133,526

)

Finance costs

174,039

192,313

Finance income

(2,063

)

(9,096

)

1,948,871

1,296,247

Increase in stocks

(274,756

)

(726,561

)

(Increase)/decrease in trade and other debtors

(3,778,331

)

683,247

Increase/(decrease) in trade and other creditors

2,508,316

(192,522

)

Cash generated from operations

404,100

1,060,411

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

266,594

1,167,381

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,167,381

793,760

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

1,167,381

(900,787

)

266,594

1,167,381

(900,787

)

266,594

Debt

Finance leases

(1,544,021

)

133,684

(1,410,337

)

(1,544,021

)

133,684

(1,410,337

)

Total

(376,640

)

(767,103

)

(1,143,743

)

1.	STATUTORY INFORMATION

Cooper Group Holdings 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 General 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 financial statements have been prepared on the going concern basis. The directors have prepared cashflow projections and forecasts on a group basis which reflect their position that the group has the ability to continue trading on the going concern basis. However, there are several factors that indicate there may be a short term requirement to make repayment arrangements for key liabilities and the directors are currently in negotiations to secure additional funding should the need arise.

Turnover

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

Tangible fixed assets

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

Short leasehold

-

Equal instalments over period of lease

Plant and machinery

-

25% on reducing balance, 20% on cost, 15% on cost, 10% on cost and Varying rates on cost

Fixtures and fittings

-

33% on cost and 20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

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

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

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

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

15,932,338

11,375,719

Ireland

109,513

958,945

Rest of the World

730,928

214,469

16,772,779

12,549,133

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,587,822

1,349,906

Social security costs

252,594

201,048

Other pension costs

135,906

131,629

1,976,322

1,682,583

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

2025

2024

Administration

10

9

Services

19

17

29

26

The average number of employees by undertakings that were proportionately consolidated during the year was 29 (2024 - 26 ) .