REGISTERED NUMBER: SC421124 (Scotland)

MP GROUP U K LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

9

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

to

23

DIRECTORS:

Robert James McLarrie

Robert Gerard McLarrie

Przemyslaw Pruszczynski

REGISTERED OFFICE:

324 Drumoyne Road

Glasgow

G51 4DX

REGISTERED NUMBER:

SC421124 (Scotland)

AUDITORS:

Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

BANKERS:

Royal Bank of Scotland plc

Glasgow City Branch

10 Gordon Street

Glasgow

G1 3PL

The directors present their strategic report for the year ended 30 April 2025.

REVIEW OF BUSINESS

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

The key financial highlights are as follows:

2025

2024

£

£

Turnover

29,480,281

24,687,087

Turnover growth

19.4%

24.1%

Profit/(Loss) before tax

885,086

1,363,960

The net assets of the company have increased from £1,752,776 at 30 April, 2024 to £1,836,566 at 30 April, 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

The company faces a number of business risks and uncertainties due to difficult trading conditions and competition in the market. In view of this, the directors look carefully at the risks and uncertainties facing the business.

Commercial risk

At present there is an increased level of macroeconomic uncertainty, including sustained interest rates, cost and wage inflation. This impacts upon customer demand and a rise in our own operational cost basis therefore the directors actively monitor the situation and have contingency measures in place to obtain the best possible prices from suppliers. In addition, the company has a loyal customer base which somewhat reduces its exposure to a temporary downturn in trade and local competition.

Liquidity and credit risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments the group uses a mixture of long-term and short-term finance. Principal financial assets includes bank balances, cash, work in progress, trade and other receivables.

The company's credit risk is primarily attributable to its debtors, retention debtors, and work in progress balances with the amounts shown in the accounts net of any provisions for doubtful receivables. The company aims to mitigate credit risk by continuing to be selective regarding which clients it trades with and to what level and extent credit terms are made available. Regular credit checks on clients are carried out.

Compliance with regulations

As a company we work to comply with all relevant legislation including health & safety and employment law. We have processes in place to ensure compliance across the business with regular reporting to the board on these matters.

FUTURE DEVELOPMENTS

The directors expect to maintain a steady turnover for the next financial year with no products or services being added to the company's current mix. The increasing focus on energy efficiency by the government will likely improve demand on the industry in which the company competes and therefore the directors consider that this will ensure future stability for the business.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to finance the company's operations.

Trade debtors are managed in respect of credit and cashflow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

KEY PERFORMANCE INDICATORS

Key performance indicators are monitored on a regular basis and include; order book, contract margins and net assets.

ON BEHALF OF THE BOARD:

Robert James McLarrie - Director

10 December 2025

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing multidisciplinary construction services, specialising in energy efficiency, fit out, mechanical & electrical, fire & security and renewables.

DIVIDENDS

The company has paid interim dividends amounting to £575,000 (2024 - £842,500) during the year.

DIRECTORS

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

Robert James McLarrie

Robert Gerard McLarrie

Przemyslaw Pruszczynski

POLITICAL DONATIONS AND EXPENDITURE

Non political donations amounting to £17,184 (2024 - £3,195) were paid during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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

-	select suitable accounting policies and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Robert James McLarrie - Director

10 December 2025

Opinion

We have audited the financial statements of MP Group U K Limited (the 'company') for the year ended 30 April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 April 2025 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 Statement of Directors' Responsibilities set out on page four, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

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

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Alex Webb (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

10 December 2025

TURNOVER

3

29,480,281

24,687,087

Cost of sales

(20,819,579

)

(18,209,759

)

GROSS PROFIT

8,660,702

6,477,328

Administrative expenses

(7,661,649

)

(10,063,023

)

999,053

(3,585,695

)

Other operating income

-

5,000,000

OPERATING PROFIT

999,053

1,414,305

Interest receivable and similar income

-

1,597

999,053

1,415,902

Interest payable and similar expenses

5

(113,967

)

(51,942

)

PROFIT BEFORE TAXATION

6

885,086

1,363,960

Tax on profit

7

(226,296

)

(288,551

)

PROFIT FOR THE FINANCIAL YEAR

658,790

1,075,409

PROFIT FOR THE YEAR

658,790

1,075,409

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

658,790

1,075,409

FIXED ASSETS

Tangible assets

9

1,006,533

1,008,636

CURRENT ASSETS

Debtors

10

4,558,399

10,278,613

Cash at bank and in hand

3,287,643

2,491,592

7,846,042

12,770,205

CREDITORS

Amounts falling due within one year

11

6,050,829

10,967,268

NET CURRENT ASSETS

1,795,213

1,802,937

TOTAL ASSETS LESS CURRENT LIABILITIES

2,801,746

2,811,573

CREDITORS

Amounts falling due after more than one year

12

(729,141

)

(824,759

)

PROVISIONS FOR LIABILITIES

17

(236,039

)

(234,038

)

NET ASSETS

1,836,566

1,752,776

CAPITAL AND RESERVES

Called up share capital

18

300

300

Retained earnings

19

1,836,266

1,752,476

SHAREHOLDERS' FUNDS

1,836,566

1,752,776

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

Robert James McLarrie - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 May 2023

300

1,519,567

1,519,867

Changes in equity

Dividends

-

(842,500

)

(842,500

)

Total comprehensive income

-

1,075,409

1,075,409

Balance at 30 April 2024

300

1,752,476

1,752,776

Changes in equity

Dividends

-

(575,000

)

(575,000

)

Total comprehensive income

-

658,790

658,790

Balance at 30 April 2025

300

1,836,266

1,836,566

1.	STATUTORY INFORMATION

MP Group U K Limited, is a private company, limited by shares, registered in Scotland. The company's registered number is SC421124 and registered office address is 324 Drumoyne Road, Glasgow G51 4DX.

The nature of the company's operations and its principal activities was that of providing multidisciplinary construction services, specialising in energy efficiency, fit out, mechanical & electrical, fire & security and renewables.

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

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover represents revenue earned under a wide variety of contracts to provide commercial building services and advice to third parties.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors within 'amounts recoverable on contracts'.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

33% on reducing balance and 25% on cost

Computer equipment

-

25% on cost

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Leases

Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Provisions

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable, and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provision are generally charged as an expense to profit or loss.

3.

TURNOVER

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

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

2025

2024

£

£

Rendering of services

29,480,281

24,687,087

29,480,281

24,687,087

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

29,480,281

24,687,087

29,480,281

24,687,087

4.	EMPLOYEES AND DIRECTORS

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

2025

2024

Employees

113

93

2025

2024

£

£

Directors' remuneration

34,500

34,500

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

11

Bank loan interest

12,101

9,588

Premium credit interest

21,000

-

Interest on late paid tax

2,882

1,932

Hire purchase

77,984

40,411

113,967

51,942

6.	PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

499,005

477,116

Other operating leases

265,824

208,881

Depreciation - owned assets

31,817

24,639

Depreciation - assets on hire purchase contracts

414,929

297,536

Profit on disposal of fixed assets

(6,570

)

-

Auditors' remuneration

22,500

22,500

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

224,295

170,578

Adjustment in respect of prior periods

-

(73,724

)

Total current tax

224,295

96,854

Deferred tax

2,001

191,697

Tax on profit

226,296

288,551

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax 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:

2025

2024

£

£

Profit before tax

885,086

1,363,960

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

221,272

340,990

Effects of:

Adjustments to tax charge in respect of previous periods

-

(73,724

)

Disallowed expenses and non-taxable income

8,991

5,092

Deferred tax rate changes

-

14,479

Group relief claimed

(3,967

)

(1,800

)

Prior year adjustment - deferred tax

-

3,514

Total tax charge

226,296

288,551

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

575,000

842,500

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2024

36,722

9,037

1,897,442

42,438

1,985,639

Additions

441

3,079

443,033

3,021

449,574

Disposals

-

-

(22,498

)

-

(22,498

)

At 30 April 2025

37,163

12,116

2,317,977

45,459

2,412,715

DEPRECIATION

At 1 May 2024

12,136

5,130

928,943

30,794

977,003

Charge for year

6,247

1,308

430,141

9,050

446,746

Eliminated on disposal

-

-

(17,567

)

-

(17,567

)

At 30 April 2025

18,383

6,438

1,341,517

39,844

1,406,182

NET BOOK VALUE

At 30 April 2025

18,780

5,678

976,460

5,615

1,006,533

At 30 April 2024

24,586

3,907

968,499

11,644

1,008,636

The net book value of tangible fixed assets includes £ 905,700 (2024 - £ 968,523 ) in respect of assets held under hire purchase contracts.

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,093,269

2,800,140

Amounts owed by group undertakings

142,698

4,759,951

Amounts recoverable on contracts

2,053,807

2,230,877

Prepayments

268,625

487,645

4,558,399

10,278,613

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 13)

48,598

45,000

Hire purchase contracts (see note 14)

464,775

292,484

Trade creditors

2,919,326

4,591,104

Corporation tax

209,247

170,579

Social security and other taxes

192,101

515,773

VAT

1,066,399

309,257

Other finance liability

488,304

373,486

Accruals and deferred income

662,079

4,669,585

6,050,829

10,967,268