REGISTERED NUMBER: 03979110 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

PH HULL & SONS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTORS:

R W Hull

A W Hull

SECRETARY:

A W Hull

REGISTERED OFFICE:

Wolds Farm

Six Hills Road

Ragdale

Melton Mowbray

Leicestershire

LE14 3PP

REGISTERED NUMBER:

03979110 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

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

REVIEW OF BUSINESS

As directors, we aim to present a balanced and comprehensive review of the development and performance of our business and of its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties the company faces.

The principal activity of the company during the year continued to be that of Total Waste Management, predominantly in the food production sector of the UK.

The result of the year and financial position at the year end were considered satisfactory by the directors, who are pleased with another increase in turnover and profits despite a challenging economic environment.

Key performance indicators

The total customer sites managed has continued to see a significant increase year on year. As a result, the company's turnover has increased to £18,173,795 from £15,097,150 and operating profit has increased to £4,504,169 from £4,239,157.

PRINCIPAL RISKS AND UNCERTAINTIES

Financial

Trade debtors are regularly reviewed by the accounts department of the company and escalated to the Financial Director where applicable to ensure a quick resolution.

Compliance

The principal risk to the company is legislative compliance within the industry which continues to be appropriately managed. The company's management regularly review compliance procedures and keep up to date with government consultations to ensure compliance with all regulations.

Health and Safety

The Company takes a very proactive approach to health and safety, with regular reviews of our operational processes and staff training.

As with many businesses our size, the environment in which we operate continues to be competitive, but overall we believe that we are in a strong position operationally and financially. With these risks and uncertainty in mind, we are aware that any plans for the future development of the Company may be subject to unforeseen events outside of its control.

ON BEHALF OF THE BOARD:

R W Hull - Director

28 October 2025

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

PRINCIPAL ACTIVITIES

The principal activity of the company in the year under the review was that of total waste management, recycling services and storage.

DIVIDENDS

The total distribution of dividends for the year ended 30 April 2025 was £3,101,000 (2024: £2,459,780). The directors recommend that no final dividend be paid.

DIRECTORS

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

R W Hull

A W Hull

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Magma Audit LLP (part of the Dains Group), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R W Hull - Director

28 October 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the business and the industry, we have identified the principal risks of non-compliance with laws and regulations related to UK tax legislation and General Data Protection Regulation, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries, and management bias in accounting estimates. Audit procedures performed included:

-

Enquiries with management for consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

-

Challenging assumptions made by management in their accounting estimates; and

-

Identifying and testing material journal entries, in particular those journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific defined descriptions.

There are inherent limitations in the audit procedures described above. The more removed non-compliance with laws and regulations is, from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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 forgery or intentional misrepresentation, for example, or through collusion.

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.

Paul Orton FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

28 October 2025

TURNOVER

4

18,173,795

15,097,150

Cost of sales

(11,425,528

)

(8,794,720

)

GROSS PROFIT

6,748,267

6,302,430

Administrative expenses

(2,432,711

)

(2,211,321

)

4,315,556

4,091,109

Other operating income

188,613

148,048

OPERATING PROFIT

6

4,504,169

4,239,157

Interest receivable and similar income

-

5,305

4,504,169

4,244,462

Interest payable and similar expenses

7

(56,827

)

(77,237

)

PROFIT BEFORE TAXATION

4,447,342

4,167,225

Tax on profit

8

(1,123,534

)

(1,050,013

)

PROFIT FOR THE FINANCIAL YEAR

3,323,808

3,117,212

FIXED ASSETS

Intangible assets

10

92,672

17,320

Tangible assets

11

2,567,904

2,682,604

2,660,576

2,699,924

CURRENT ASSETS

Debtors

12

4,768,710

3,951,402

Cash at bank and in hand

2,127,536

1,900,652

6,896,246

5,852,054

CREDITORS

Amounts falling due within one year

13

(4,083,043

)

(2,808,218

)

NET CURRENT ASSETS

2,813,203

3,043,836

TOTAL ASSETS LESS CURRENT LIABILITIES

5,473,779

5,743,760

CREDITORS

Amounts falling due after more than one year

14

(177,006

)

(642,765

)

PROVISIONS FOR LIABILITIES

18

(422,835

)

(449,865

)

NET ASSETS

4,873,938

4,651,130

CAPITAL AND RESERVES

Called up share capital

19

105

11

Retained earnings

4,873,833

4,651,119

SHAREHOLDERS' FUNDS

4,873,938

4,651,130

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2025 and were signed on its behalf by:

R W Hull - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 May 2023

11

3,993,687

3,993,698

Changes in equity

Dividends

-

(2,459,780

)

(2,459,780

)

Total comprehensive income

-

3,117,212

3,117,212

Balance at 30 April 2024

11

4,651,119

4,651,130

Changes in equity

Increase in share capital

94

(94

)

-

Dividends

-

(3,101,000

)

(3,101,000

)

Total comprehensive income

-

3,323,808

3,323,808

Balance at 30 April 2025

105

4,873,833

4,873,938

Cash flows from operating activities

Cash generated from operations

1

5,197,794

4,411,251

Interest paid

(17,028

)

(25,866

)

Interest element of hire purchase payments paid

(39,799

)

(51,371

)

Tax paid

(915,215

)

(879,408

)

Net cash from operating activities

4,225,752

3,454,606

Cash flows from investing activities

Purchase of intangible fixed assets

(87,546

)

(14,778

)

Purchase of tangible fixed assets

(440,076

)

(484,936

)

Sale of tangible fixed assets

36,256

26,250

Interest received

-

5,305

Net cash from investing activities

(491,366

)

(468,159

)

Cash flows from financing activities

Loan repayments in year

(77,500

)

(77,500

)

Repayments in year on HP contracts

(351,274

)

(209,819

)

Movement on directors' current accounts

22,272

(24,995

)

Equity dividends paid

(3,101,000

)

(2,459,780

)

Net cash from financing activities

(3,507,502

)

(2,772,094

)

Increase in cash and cash equivalents

226,884

214,353

Cash and cash equivalents at beginning of year

2

1,900,652

1,686,299

Cash and cash equivalents at end of year

2

2,127,536

1,900,652

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit for the financial year

3,323,808

3,117,212

Depreciation charges

536,410

474,167

Profit on disposal of fixed assets

(5,696

)

(13,647

)

Finance costs

56,827

77,237

Finance income

-

(5,305

)

Taxation

1,123,534

1,050,013

5,034,883

4,699,677

Increase in trade and other debtors

(833,017

)

(487,991

)

Increase in trade and other creditors

995,928

199,565

Cash generated from operations

5,197,794

4,411,251

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 30 April 2025

30/4/25

1/5/24

£

£

Cash and cash equivalents

2,127,536

1,900,652

Year ended 30 April 2024

30/4/24

1/5/23

£

£

Cash and cash equivalents

1,900,652

1,686,299

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/5/24

Cash flow

At 30/4/25

£

£

£

Net cash

Cash at bank and in hand

1,900,652

226,884

2,127,536

1,900,652

226,884

2,127,536

Debt

Finance leases

(800,681

)

351,274

(449,407

)

Debts falling due within 1 year

(77,500

)

(96,875

)

(174,375

)

Debts falling due after 1 year

(174,375

)

174,375

-

(1,052,556

)

428,774

(623,782

)

Total

848,096

655,658

1,503,754

1.	STATUTORY INFORMATION

PH Hull & Sons Limited is a private limited company, registered in England and Wales. Its registered office address is Wolds Farm, Six Hills Road, Ragdale, Melton Mowbray, Leicestershire, United Kingdom, LE14 3PP and the registered number is 03979110.

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.

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.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised to the extent that it is probable the economic benefits will flow to the company and the turnover can be reliably measured, which is usually on the day the work is undertaken.

Intangible fixed assets - goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

Intangible fixed assets other than goodwill

Intangible assets are initially recognised at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Bespoke software - 25% straight line

Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold property - 2% straight line

Freehold improvements - 2% straight line

Fixtures and fittings - 15% reducing balance

Plant and machinery - 25% reducing balance

Motor vehicles - 25% reducing balance

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.

(i) Financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction 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.

(ii) Financial liabilities

Basic financial liabilities, including creditors and bank loans 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Monetary 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.

Operating leases

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the property, plant and equipment, and note 2 for the useful economic lives for each class of assets.

4.

TURNOVER

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

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

2025

2024

£

£

Waste management

17,172,694

14,179,603

Storage & equipment rental

1,001,101

917,547

18,173,795

15,097,150

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

18,173,795

15,097,150

18,173,795

15,097,150

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,005,911

1,010,233

Social security costs

99,619

113,005

Other pension costs

274,382

274,925

1,379,912

1,398,163

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

2025

2024

Directors

2

3

Administration

15

13

Operational

12

14

29

30

2025

2024

£

£

Directors' remuneration

22,245

35,651

Directors' pension contributions to money purchase schemes

120,000

120,000

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

Money purchase schemes

2

2

6.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

3,230

1,041

Other operating leases

151,659

151,659

Depreciation - owned assets

376,082

277,117

Depreciation - assets on hire purchase contracts

148,134

191,207

Profit on disposal of fixed assets

(5,696

)

(13,647

)

Computer software amortisation

12,194

5,844

Auditors' remuneration

17,150

16,350

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest on loans and overdrafts

17,028

23,125

CT interest

-

2,741

Hire purchase interest payable

39,799

51,371

56,827

77,237

8.

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

1,150,564

923,604

Deferred tax

(27,030

)

126,409

Tax on profit

1,123,534

1,050,013

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

4,447,342

4,167,225

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

1,111,836

1,041,806

Effects of:

Expenses not deductible for tax purposes

14,072

3,180

Income not taxable for tax purposes

(1,424

)

(3,412

)

Capital allowances in excess of depreciation

-

(117,970

)

Depreciation in excess of capital allowances

26,080

-

Deferred tax movement

(27,030

)

126,409

Total tax charge

1,123,534

1,050,013