REGISTERED NUMBER: 06000449 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

LISTER HOUSE (FIFE) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

G A Hendry

C J Hendry

A Hendry

REGISTERED OFFICE:

17 Queens Lane

Newcastle Upon Tyne

Northumberland

NE1 1RN

REGISTERED NUMBER:

06000449 (England and Wales)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

BANKERS:

Barclays Bank Plc

Unit 2, 10-15 Princes Street

Edinburgh

EH2 2AN

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

REVIEW OF BUSINESS

Good Care Inspectorate grades and occupancy levels have been maintained and once again our management teams have delivered good results despite continuing recruitment and retention issues which are widespread in the social care sector. The NHS and Social care sectors continue to try to recruit from what appears to be a shrinking pool of people who want to work in the sector. We continue to recruit from overseas to supplement our local recruitment efforts. However, this is now more difficult because of the changes made by the UK government Home Office regarding overseas recruitment.

The care home sector has not been immune to the rising cost of living and the interest rate increases resulting in increased overhead costs and interest paid to the bank to service loans. At the end of this financial year we began to feel the effects of the Chancellor's increase in employers NI which will cost Lister House between £7k and £10k per month in extra tax.

Income has increased by 10.8% from the previous year as a result of the National Care Home Contract increase agreed in 2024 and the continued increase in adult care provision at Lister House Care Home. Wages increased by 8.3% primarily due to the Living Wage increase and the accompanying increases for other staff members. The wages to income percentage was slightly lower than last year at 52.1%.

Overheads increased by 21.7% in total due to some significant increases in certain goods purchased such as food.

There are still high levels of scrutiny of care homes by various bodies. The scrutiny does take up a lot of management time but there are the beginnings of a discussion around sharing information between the main bodies such as the Carer Inspectorate and Health and Social Care Partnership to reduce duplication of information given by management teams to these bodies.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties have not really changed for over a decade and there seems to be no real plan in place to change these crucial elements.

Poor Funding

Continues to be an issue. The settlement for this financial year made in April 2024 was 6.70%. Once again this covered wage increases stipulated in the NCHC agreement but does not address increase in overhead costs. This has been the case for a decade and support of the Scottish Care Members for the National Care Home Contract is waning.

Again there has been no further progress on the cost of care calculator which Scottish Care argue would calculate the true cost of care. The Scottish Government continue to say that the increase to the NCHC is the responsibility of COSLA and COSLA continue to say that they are underfunded by the Scottish Government. It is clear the Scottish Government must be involved in the process but there is no real indication of that happening. With elections coming in 2026 the chance of the Scottish Government really addressing the cost of social care will likely not happen in this parliamentary period.

Recruitment

Recruitment continues to be extremely challenging. There are the usual battles between staff pay for care homes versus retail and supermarket outlets and the better NHS pay for domestics and care assistants which make recruitment very difficult.

There are also more and more agencies appearing and they are taking staff from care homes. They pay staff more and in turn charge care homes at least 50% more per hour if they use agency staff. The whole agency industry is not well regulated by the Care Inspectorate and this needs to be addressed.

We continue to bolster our recruitment by hiring employees from overseas. This is a complicated and costly process and requires a great deal of administration. As already mentioned the UK Government Home Office changes to immigration have made this process more difficult in there desire to reduce immigration numbers. This has not been matched by any initiatives to help social care recruit local staff and so this will put an increased strain on care home recruitment.

Increasing costs

We have been subject to cost of living increases fuelled by rising inflation as have most businesses and individuals. Our energy costs, however, have steadied and we have chosen longer term contracts for the sake of stability and given the instability at present globally which can affect energy prices negatively.

We have been subject to increasing interest charges as interest rates have risen which does put a financial strain on the business. Interest rates continue to rise which has increased our interest charges. While this is not included in EBITDA calculations it is a real cost which has to be paid and reduces the amount of money available for refurbishment, resident activities, equipment renewal etc.

ON BEHALF OF THE BOARD:

G A Hendry - Director

8 January 2026

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 care to the elderly.

DIVIDENDS

An interim dividend of 129,998 per share was paid on 30 April 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2025 will be £ 129,998 .

DIRECTORS

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

G A Hendry

C J Hendry

A Hendry

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.

ON BEHALF OF THE BOARD:

G A Hendry - Director

8 January 2026

Opinion

We have audited the financial statements of Lister House (Fife) Limited (the 'company') for the year ended 30 April 2025 which comprise the Statement of 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 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 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, 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:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation, employment and data protection;

- We assessed the extent of compliance with the laws and regulations identified above through making enquires of management and inspecting legal correspondence;

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assess the susceptibility of material misstatements within the Company's financial statements, including obtaining an understanding of how fraud might occur by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgement and assumptions made in determining accounting estimates were indicative of potential bias; and

- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual potential litigation and claims; and

- Reviewing correspondence.

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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.

Craig Hunter (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

9 January 2026

TURNOVER

6,185,058

5,581,255

Cost of sales

(3,701,773

)

(3,423,432

)

GROSS PROFIT

2,483,285

2,157,823

Administrative expenses

(1,037,267

)

(852,076

)

1,446,018

1,305,747

Other operating income

8,750

-

OPERATING PROFIT

5

1,454,768

1,305,747

Interest receivable and similar income

34

839

1,454,802

1,306,586

Interest payable and similar expenses

6

(226,064

)

(231,134

)

PROFIT BEFORE TAXATION

1,228,738

1,075,452

Tax on profit

7

(381,016

)

(223,541

)

PROFIT FOR THE FINANCIAL YEAR

847,722

851,911

OTHER COMPREHENSIVE INCOME

Revaluation of heritable property

1,155,002

5,095,162

Income tax relating to other comprehensive income

(247,000

)

(1,273,790

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

908,002

3,821,372

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,755,724

4,673,283

FIXED ASSETS

Tangible assets

9

14,521,649

13,277,615

CURRENT ASSETS

Debtors

10

2,868,587

2,362,418

Cash at bank and in hand

1,142,862

1,443,161

4,011,449

3,805,579

CREDITORS

Amounts falling due within one year

11

(2,878,747

)

(3,318,305

)

NET CURRENT ASSETS

1,132,702

487,274

TOTAL ASSETS LESS CURRENT LIABILITIES

15,654,351

13,764,889

PROVISIONS FOR LIABILITIES

14

(2,771,208

)

(2,507,472

)

NET ASSETS

12,883,143

11,257,417

CAPITAL AND RESERVES

Called up share capital

15

1

1

Revaluation reserve

8,426,853

7,598,620

Retained earnings

4,456,289

3,658,796

SHAREHOLDERS' FUNDS

12,883,143

11,257,417

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2026 and were signed on its behalf by:

G A Hendry - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 May 2023

1

2,815,871

3,857,095

6,672,967

Changes in equity

Total comprehensive income

-

851,911

3,821,372

4,673,283

Dividends

-

(88,833

)

-

(88,833

)

Transfer between reserves

-

79,847

(79,847

)

-

Balance at 30 April 2024

1

3,658,796

7,598,620

11,257,417

Changes in equity

Total comprehensive income

-

847,722

908,002

1,755,724

Dividends

-

(129,998

)

-

(129,998

)

Transfer between reserves

-

79,769

(79,769

)

-

Balance at 30 April 2025

1

4,456,289

8,426,853

12,883,143

1.	STATUTORY INFORMATION

Lister House (Fife) 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.

The company's place of business is Lister House, Lochleven Road, Lochore, Lochgelly, KY5 8HU.

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 as modified by the revaluation of certain assets.

The Directors have assessed the ability of the company to continue as a going concern. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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

The turnover shown in the income statement represents amounts receivable, in respect of the provision of elderly and complex care, during the year. Turnover is recognised when the agreed period of service has expired, with payments in advance deferred until the period in which the service is provided.

TANGIBLE FIXED ASSETS

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

Heritable property

-

2% per annum on cost

Plant and machinery

-

15% per annum reducing balance

Fixtures and fittings

-

15% per annum reducing balance

Motor vehicles

-

25% per annum reducing balance

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

All fixed assets are initially recorded at cost. The cost of land and buildings has subsequently been adjusted to take into account revaluations. Gains and losses arising from these revaluations are taken to the revaluation reserve.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The company carries heritable property at fair value and engages independent professional valuers to determine fair value on a periodic basis. The independent valuer determines fair value based on their expertise and knowledge of both the industry and the marketplace.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,221,268

2,972,594

Social security costs

240,883

192,425

Other pension costs

119,912

112,499

3,582,063

3,277,518

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

2025

2024

Home managers/senior staff

1

3

Administrative and other staff

28

21

Nurses/care assistants

119

118

148

142

2025

2024

£

£

Directors' remuneration

-

-

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

189,694

182,263

Auditors' remuneration

8,940

8,940

Auditors' remuneration for non audit work

1,752

7,612

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Corporation tax interest

14,805

-

Interest on group loan

211,259

231,134

226,064

231,134

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

364,069

306,277

Underprovision of tax in prior year

210

1,111

Total current tax

364,279

307,388

Deferred tax

16,737

(83,847

)

Tax on profit

381,016

223,541

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

1,228,738

1,075,452

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

307,185

268,863

Effects of:

Expenses not deductible for tax purposes

29,252

3,888

Depreciation in excess of capital allowances

27,632

33,528

Adjustments to tax charge in respect of previous periods

210

1,111

Deferred tax on accelerated capital allowances

16,737

(83,849

)

Total tax charge

381,016

223,541

Tax effects relating to effects of other comprehensive income

2025

Gross

Tax

Net

£

£

£

Revaluation of heritable property

1,155,002

(247,000

)

908,002

2024

Gross

Tax

Net

£

£

£

Revaluation of heritable property

5,095,162

(1,273,790

)

3,821,372

8.

DIVIDENDS

2025

2024

£

£

Ordinary share of £1

Interim

129,998

88,833

9.	TANGIBLE FIXED ASSETS

Fixtures

Heritable

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 May 2024

13,199,577

13,779

461,173

16,794

13,691,323

Additions

220,723

22,608

35,395

-

278,726

Revaluations

988,000

-

-

-

988,000

At 30 April 2025

14,408,300

36,387

496,568

16,794

14,958,049

DEPRECIATION

At 1 May 2024

1,992

2,043

393,555

16,118

413,708

Charge for year

173,408

3,193

12,924

169

189,694

Revaluation adjustments

(167,002

)

-

-

-

(167,002

)

At 30 April 2025

8,398

5,236

406,479

16,287

436,400

NET BOOK VALUE

At 30 April 2025

14,399,902

31,151

90,089

507

14,521,649

At 30 April 2024

13,197,585

11,736

67,618

676

13,277,615

Cost or valuation at 30 April 2025 is represented by:

Fixtures

Heritable

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2015

311,299

-

-

-

311,299

Valuation in 2018

(622,128

)

-

-

-

(622,128

)

Valuation in 2021

4,453,200

-

-

-

4,453,200

Valuation in 2024

4,596,301

-

-

-

4,596,301

Valuation in 2025

988,000

-

-

-

988,000

Cost

4,681,628

36,387

496,568

16,794

5,231,377

14,408,300

36,387

496,568

16,794

14,958,049

If land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

4,681,628

4,460,905

Aggregate depreciation

1,189,918

1,096,285

Land and buildings were valued on an open market basis on 30 April 2025 by the directors .

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

59,566

205,979

Amounts owed by group undertakings

2,388,233

2,116,442

Other debtors

14,365

3,500

Prepayments and accrued income

406,423

36,497

2,868,587

2,362,418

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

47,486

56,961

Amounts owed to group undertakings

1,985,707

2,764,243

Corporation tax

210,026

185,842

Social security and other taxes

70,448

52,280

Other creditors

45,559

41,293

Accruals and deferred income

519,521

217,686

2,878,747

3,318,305

12.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

18,563

-

Between one and five years

34,033

-

52,596

-

13.	FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost comprise cash, trade debtors, amounts owed by group undertakings, other debtors and Directors' current accounts.

At the year end the company had financial assets measured at amortised cost totalling £3,998,472 (2024 - £3,799,799).

Financial liabilities measured at amortised cost comprise trade creditors, bank loans, other creditors, amounts owed to group undertakings and accrued expenses.

At the year end the company had financial liabilities measured at amortised cost totalling £2,481,663 (2024 - £3,080,185).

14.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,771,208

2,507,472