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Registration number: 06374970

Westcountry Maintenance Services Ltd
Annual Report and Consolidated Financial Statements
for the Year Ended 31 December 2025

Westcountry Maintenance Services Ltd

Contents

Company Information | 1
Strategic Report | 2 to 3
Directors' Report | 4
Statement of Directors' Responsibilities | 5
Independent Auditor's Report | 6 to 9
Consolidated Statement of Comprehensive Income | 10
Consolidated Statement of Financial Position | 11
Statement of Financial Position | 12
Consolidated Statement of Changes in Equity | 13
Statement of Changes in Equity | 14
Consolidated Statement of Cash Flows | 15
Statement of Cash Flows | 16
Notes to the Financial Statements | 17 to 35

Westcountry Maintenance Services Ltd

Company Information

Directors | Mr M R Sussex Mrs A E Sussex

Company secretary | Mrs A E Sussex

Registered office | The Gilberries New Street Torrington Devon EX38 8BY

Auditors | Westcotts (SW) LLP Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT

Westcountry Maintenance Services Ltd

Strategic Report for the Year Ended 31 December 2025

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

Principal activity

The principal activity of the group is property maintenance and development.

Fair review of the business

The performance of the group is detailed in the statement of comprehensive income on page 10.
Turnover reports for the year is £29,298,826 (2024: £27,032,858). Profit for the year after tax was reported as £624,426 (2024: £949,635).
The net assets of the group as at 31 December 2025 are shown on the statement of financial position and show a position of £4,226,883 (2024: £3,772,457).
The directors do not recommend a payment of a final dividend.

Principal risks and uncertainties

The directors are responsible for monitoring financial risk. Appropriate policies have been developed and implemented to identify, evaluate and manage key risks.
a) Price risk - The group is exposed to price risk as a result of its activities, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature. The group has no exposures to equity securities price risk as it holds no listed or other equity investments.
b) Credit risk - The group has implemented policies that require appropriate credit checks on potential customers before contracts are entered. The credit given to customers is subject to limits which are determined and reassessed by the directors.
c) Liquidity risk - The group actively maintains a mix of finance.
d) Interest rate flow risk - The group is not exposed to interest bearing liabilities.

Westcountry Maintenance Services Ltd

Strategic Report for the Year Ended 31 December 2025 (continued)

Non-financial and sustainability information

Environmental matters

Information about environmental matters, the group's employees, social community and human rights issues have not been provided as the directors do not believe it is fundamental to gain an understanding of the business.
During the year, the company has progressed a number of system improvements aimed at enhancing operational efficiency and integration across the business. A purchase order (PO) automation system is due to be trialled initially with RGB, with the objective of achieving full automation between the two businesses in due course. In addition, the company has transitioned away from Service Manager and implemented a Microsoft-based solution, Link, which went live on 1 March 2025. These changes are expected to streamline processes, improve data accuracy and support continued growth.

Approved and authorised by the Board on 2 April 2026 and signed on its behalf by:

......................................... Mr M R Sussex Director

Westcountry Maintenance Services Ltd

Directors' Report for the Year Ended 31 December 2025

The directors present their report and the for the year ended 31 December 2025.

Directors of the group

The directors who held office during the year were as follows:

Mr M R Sussex

Mrs A E Sussex - Company secretary and director

Future developments

The outlook for 2026 began positively. The market is robust and trading is expected to be strong for 2026
The hard work and investment in 2025 to install and develop a new IT dynamics software job system has provided the tools and ability for the Group to stabilise and future proof the business. The system easily integrates with client IT systems making the Group one of the leading response and repairs maintenance contractors in the Southwest. This workstream has seen the greatest area of growth for the Group in 2025 and it is expected to continue to grow in 2026. It is recognised that due to IT development further long-term contracts will be achieved leading to a stable and stronger future for the organisation.
The Group recognise that many local authority and housing associations have reduced budgets but we aim to provide a value for money efficient high quality service in this sector of work which will always be in demand.

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved and authorised by the Board on 2 April 2026 and signed on its behalf by:

Mr M R Sussex Director

Westcountry Maintenance Services Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report 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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | 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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Westcountry Maintenance Services Ltd

Independent Auditor's Report to the Members of Westcountry Maintenance Services Ltd

Opinion

We have audited the financial statements of Westcountry Maintenance Services Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Statement of Financial Position, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, 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 group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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.

Westcountry Maintenance Services Ltd

Independent Auditor's Report to the Members of Westcountry Maintenance Services Ltd (continued)

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

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

• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
• | the parent company financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 5, 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 is 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.

Auditor 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 an auditor’s report 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.

Westcountry Maintenance Services Ltd

Independent Auditor's Report to the Members of Westcountry Maintenance Services Ltd (continued)

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:

• | We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management and inspection of the company's correspondence. We communicated identified laws and regulations throughout our team, and remained alert to any indication of non-compliance throughout the audit.

• | The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation.

• | Owing to the inherent limitations of an audit there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are no responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• | 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. 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.

• | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group’s internal control.

• | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

• | Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group’s or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.

• | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Westcountry Maintenance Services Ltd

Independent Auditor's Report to the Members of Westcountry Maintenance Services Ltd (continued)

• | Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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 an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Emma Mills ACA (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP, Statutory Auditor
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

8 April 2026

Westcountry Maintenance Services Ltd

Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 29,298,826 | 27,032,858
Cost of sales |  | (22,336,728) | (20,820,558)
Gross profit |  | 6,962,098 | 6,212,300
Administrative expenses |  | (6,033,093) | (4,905,277)
Operating profit | 5 | 929,005 | 1,307,023
Other interest receivable and similar income | 6 | 8,382 | -
Interest payable and similar expenses | 7 | (102,356) | (77,063)
|  | (93,974) | (77,063)
Profit before tax |  | 835,031 | 1,229,960
Tax on profit | 12 | (210,605) | (280,325)
Profit for the financial year |  | 624,426 | 949,635
Profit/(loss) attributable to: |  |  |
Owners of the company |  | 624,426 | 949,635

The group has no recognised gains or losses for the year other than the results above.

Westcountry Maintenance Services Ltd

(Registration number: 06374970)
Consolidated Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 14 | 1,860,283 | 1,345,072
Current assets |  |  |
Stocks | 16 | 1,880,930 | 1,339,434
Debtors | 17 | 5,198,800 | 3,715,354
Cash at bank and in hand |  | 2,587,163 | 2,383,055
|  | 9,666,893 | 7,437,843
Creditors: Amounts falling due within one year | 19 | (5,662,698) | (4,065,326)
Net current assets |  | 4,004,195 | 3,372,517
Total assets less current liabilities |  | 5,864,478 | 4,717,589
Creditors: Amounts falling due after more than one year | 19 | (1,014,770) | (622,026)
Provisions for liabilities | 20 | (452,825) | (323,106)
Net assets |  | 4,396,883 | 3,772,457
Capital and reserves |  |  |
Called up share capital | 22 | 600 | 600
Capital redemption reserve | 23 | 400 | 400
Profit and loss account | 23 | 4,395,883 | 3,771,457
Equity attributable to owners of the company |  | 4,396,883 | 3,772,457
Shareholders' funds |  | 4,396,883 | 3,772,457

Approved and authorised by the Board on 2 April 2026 and signed on its behalf by:

Mr M R Sussex Director

Westcountry Maintenance Services Ltd

(Registration number: 06374970)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 14 | 1,857,864 | 1,338,717
Investments | 15 | 67,114 | 67,114
|  | 1,924,978 | 1,405,831
Current assets |  |  |
Stocks | 16 | 1,877,632 | 1,327,182
Debtors | 17 | 5,049,340 | 3,758,086
Cash at bank and in hand |  | 2,509,490 | 2,079,171
|  | 9,436,462 | 7,164,439
Creditors: Amounts falling due within one year | 19 | (5,602,681) | (3,983,349)
Net current assets |  | 3,833,781 | 3,181,090
Total assets less current liabilities |  | 5,758,759 | 4,586,921
Creditors: Amounts falling due after more than one year | 19 | (1,014,770) | (622,026)
Provisions for liabilities | 20 | (454,059) | (323,609)
Net assets |  | 4,289,930 | 3,641,286
Capital and reserves |  |  |
Called up share capital | 22 | 600 | 600
Capital redemption reserve |  | 400 | 400
Profit and loss account |  | 4,288,930 | 3,640,286
Shareholders' funds |  | 4,289,930 | 3,641,286

The company made a profit after tax for the financial year of £648,644 (2024 - profit of £902,113).

Approved and authorised by the Board on 2 April 2026 and signed on its behalf by:

Mr M R Sussex Director

Westcountry Maintenance Services Ltd

Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company

| Share capital £ | Capital redemption reserve £ | Profit and loss account £ | Total £ | Total equity £
At 1 January 2025 | 600 | 400 | 3,771,457 | 3,772,457 | 3,772,457
Profit for the year | - | - | 624,426 | 624,426 | 624,426
At 31 December 2025 | 600 | 400 | 4,395,883 | 4,396,883 | 4,396,883

| Share capital £ | Capital redemption reserve £ | Profit and loss account £ | Total £ | Total equity £
At 1 January 2024 | 600 | 400 | 3,061,822 | 3,062,822 | 3,062,822
Profit for the year | - | - | 949,635 | 949,635 | 949,635
Dividends | - | - | (240,000) | (240,000) | (240,000)
At 31 December 2024 | 600 | 400 | 3,771,457 | 3,772,457 | 3,772,457

Westcountry Maintenance Services Ltd

Statement of Changes in Equity for the Year Ended 31 December 2025

| Share capital £ | Capital redemption reserve £ | Profit and loss account £ | Total £
At 1 January 2025 | 600 | 400 | 3,640,286 | 3,641,286
Profit for the year | - | - | 648,644 | 648,644
At 31 December 2025 | 600 | 400 | 4,288,930 | 4,289,930

| Share capital £ | Capital redemption reserve £ | Profit and loss account £ | Total £
At 1 January 2024 | 600 | 400 | 2,978,173 | 2,979,173
Profit for the year | - | - | 902,113 | 902,113
Dividends | - | - | (240,000) | (240,000)
At 31 December 2024 | 600 | 400 | 3,640,286 | 3,641,286

Westcountry Maintenance Services Ltd

Consolidated Statement of Cash Flows for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 624,426 | 949,635
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 731,268 | 462,276
Profit on disposal of tangible assets | 4 | (5,067) | (7,366)
Finance income | 6 | (8,382) | -
Finance costs | 7 | 102,356 | 77,063
Income tax expense | 12 | 210,605 | 280,325
|  | 1,655,206 | 1,761,933
Working capital adjustments |  |  |
(Increase)/decrease in stocks | 16 | (541,496) | 221,303
Increase in debtors | 17 | (1,483,446) | (460,240)
Increase in creditors | 19 | 1,338,097 | 360,356
Cash generated from operations |  | 968,361 | 1,883,352
Income taxes paid | 12 | (67,396) | (431,615)
Net cash flow from operating activities |  | 900,965 | 1,451,737
Cash flows from investing activities |  |  |
Interest received | 6 | 8,382 | -
Acquisitions of tangible assets | 14 | (1,269,581) | (948,096)
Proceeds from sale of tangible assets |  | 28,169 | 98,023
Net cash flows from investing activities |  | (1,233,030) | (850,073)
Cash flows from financing activities |  |  |
Interest paid | 7 | (102,356) | (77,063)
Proceeds from bank borrowing draw downs |  | 107,006 | (200,000)
Net finance lease creditors |  | 531,523 | 260,238
Dividends paid |  | - | (240,000)
Net cash flows from financing activities |  | 536,173 | (256,825)
Net increase in cash and cash equivalents |  | 204,108 | 344,839
Cash and cash equivalents at 1 January |  | 2,383,055 | 2,038,216
Cash and cash equivalents at 31 December |  | 2,587,163 | 2,383,055

Westcountry Maintenance Services Ltd

Statement of Cash Flows for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 648,644 | 902,113
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 727,332 | 457,463
Profit on disposal of tangible assets | 4 | (5,067) | (7,366)
Finance income |  | (8,382) | -
Finance costs |  | 102,349 | 76,543
Income tax expense | 12 | 211,336 | 265,669
|  | 1,676,212 | 1,694,422
Working capital adjustments |  |  |
(Increase)/decrease in stocks | 16 | (550,450) | 225,838
Increase in debtors | 17 | (1,291,254) | (472,486)
Increase in creditors | 19 | 1,344,496 | 344,792
Cash generated from operations |  | 1,179,004 | 1,792,566
Income taxes paid | 12 | (51,835) | (423,795)
Net cash flow from operating activities |  | 1,127,169 | 1,368,771
Cash flows from investing activities |  |  |
Interest received | 6 | 8,382 | -
Acquisitions of tangible assets | 14 | (1,269,581) | (948,096)
Proceeds from sale of tangible assets |  | 28,169 | 98,023
Net cash flows from investing activities |  | (1,233,030) | (850,073)
Cash flows from financing activities |  |  |
Interest paid |  | (102,349) | (76,543)
Proceeds from bank borrowing draw downs |  | 107,006 | (200,000)
Net finance lease creditors |  | 531,523 | 260,238
Dividends paid |  | - | (240,000)
Net cash flows from financing activities |  | 536,180 | (256,305)
Net increase in cash and cash equivalents |  | 430,319 | 262,393
Cash and cash equivalents at 1 January |  | 2,079,171 | 1,816,778
Cash and cash equivalents at 31 December |  | 2,509,490 | 2,079,171

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom . The company's registered number is 06374970.

The address of its registered office is:
The Gilberries
New Street
Torrington
Devon
EX38 8BY

The principal place of business is:
Gammaton Road
East the Water
Bideford
Devon
EX39 4FG

These financial statements were authorised for issue by the Board on 2 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Basis of consolidation

The consolidated financial statements consolidate the financial statements of Westcountry Maintenance Services Limited and its subsidiary undertaking drawn up to 31 December 2025; the group statements of comprehensive income includes the results of the subsidiary undertaking for the period from the date of their acquisition and up to the date of disposal.
Turnover and profits arising on trading between group companies are excluded.
Profits for the year attributable to shareholders:
As permitted by Section 408 of the Companies Act 2006 the Profit and Loss Account of Westcountry Maintenance Services Ltd has not been presented with the financial statements.
The results after taxation of the parent undertaking showed a profit of £648,644 (2024: £902,113).

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Statement of Comprehensive Income from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The financial statements have been prepared on a going concern basis.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Directors determine the work in progress by constant review and constitute the view of more than one director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable and provision of services in the ordinary course of the group’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | over 3-5 years
Fittings, fixtures and equipment | over 3-5 years
Motor vehicles | over 4-6 years depending on the life of the asset

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

3 | Turnover

The analysis of the group's turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Williams & Martin Limited | 502,101 | 802,923
Westcountry Maintenance Services Ltd | 28,780,500 | 26,196,765
Interest received | 15,603 | 16,612
Other revenue | 622 | 16,558
| 29,298,826 | 27,032,858

4 | Other gains and losses

The analysis of the group's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain on disposal of tangible assets | 5,067 | 7,366

5 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 731,268 | 462,276
Operating lease expense | 104,761 | 59,938
Profit on disposal of property, plant and equipment | (5,067) | (7,366)
Audit of these financial statements | 10,735 | 7,900

6 | Other interest receivable and similar income

| 2025 £ | 2024 £
Other finance income | 8,382 | -

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

7 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on bank borrowings | 35,026 | 34,449
Interest on obligations under finance leases and hire purchase contracts | 67,323 | 42,587
Interest expense on other finance liabilities | 7 | 27
| 102,356 | 77,063

8 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 7,161,676 | 5,755,936
Social security costs | 857,910 | 566,950
Pension costs | 396,100 | 289,666
Other employee expense | 3,591 | 6,341
| 8,419,277 | 6,618,893

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Site | 182 | 148
Office | 16 | 16
| 198 | 164

9 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 168,562 | 153,951
Contributions paid to money purchase schemes | 80,000 | 110,000
| 248,562 | 263,951

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

10 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of these financial statements | 10,735 | 7,900

10 Profit for the year attributable to shareholders

As permitted by Section 408 of the Companies Act 2006 the Profit and Loss Account of Westcountry Maintenance Services Limited has not been presented with the financial statements.
The results after taxation of the parent undertaking were £648,644 (2024 £902,113)

12 | Taxation

Tax charged/(credited) in the consolidated statement of comprehensive income

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 80,886 | 192,307
Deferred taxation |  |
Arising from origination and reversal of timing differences | 129,719 | 88,018
Tax expense in the income statement | 210,605 | 280,325

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 835,031 | 1,229,960
Corporation tax at standard rate | 208,758 | 307,491
Decrease in UK and foreign current tax from adjustment for prior periods | - | (26,278)
Deferred tax credit relating to changes in tax rates or laws | - | (888)
Tax increase from other tax effects | 1,847 | -
Total tax charge | 210,605 | 280,325

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

12 | Taxation (continued)

Deferred tax

Group

Deferred tax assets and liabilities

2025 | Liability £
Accelerated capital allowances | 452,805
| 452,805

2024 | Liability £
Accelerated capital allowances | 323,106
| 323,106

Company

Deferred tax assets and liabilities

2025 | Liability £
Accelerated capital allowances | 454,059
| 454,059

2024 | Liability £
Accelerated capital allowances | 323,609
| 323,609

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

13 | Intangible assets

Group

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 63,986 | 63,986
At 31 December 2025 | 63,986 | 63,986
Amortisation
At 1 January 2025 | 63,986 | 63,986
At 31 December 2025 | 63,986 | 63,986
Carrying amount
At 31 December 2025 | - | -

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

14 | Tangible assets

Group

| Fixtures, fittings & equipment £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 233,330 | 158,077 | 2,785,906 | 3,177,313
Additions | 91,200 | 7,290 | 1,171,091 | 1,269,581
Disposals | - | - | (195,231) | (195,231)
At 31 December 2025 | 324,530 | 165,367 | 3,761,766 | 4,251,663
Depreciation
At 1 January 2025 | 75,175 | 151,027 | 1,606,039 | 1,832,241
Charge for the year | 35,172 | 997 | 695,099 | 731,268
Eliminated on disposal | - | - | (172,129) | (172,129)
At 31 December 2025 | 110,347 | 152,024 | 2,129,009 | 2,391,380
Carrying amount
At 31 December 2025 | 214,183 | 13,343 | 1,632,757 | 1,860,283
At 31 December 2024 | 158,155 | 7,050 | 1,179,867 | 1,345,072

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 2025 £ | 2024 £
Motor vehicles | 1,023,898 | 998,273

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

14 | Tangible assets (continued)

Company

| Fixtures, fittings & equipment £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 233,330 | 131,525 | 2,758,011 | 3,122,866
Additions | 91,200 | 7,290 | 1,171,091 | 1,269,581
Disposals | - | - | (195,231) | (195,231)
At 31 December 2025 | 324,530 | 138,815 | 3,733,871 | 4,197,216
Depreciation
At 1 January 2025 | 75,175 | 124,475 | 1,584,499 | 1,784,149
Charge for the year | 35,172 | 997 | 691,163 | 727,332
Eliminated on disposal | - | - | (172,129) | (172,129)
At 31 December 2025 | 110,347 | 125,472 | 2,103,533 | 2,339,352
Carrying amount
At 31 December 2025 | 214,183 | 13,343 | 1,630,338 | 1,857,864
At 31 December 2024 | 158,155 | 7,050 | 1,173,512 | 1,338,717

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 2025 £ | 2024 £
Motor vehicles | 1,593,263 | 998,273

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

15 | Investments

Company

| 2025 £ | 2024 £
Investments in subsidiaries | 67,114 | 67,114

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 67,114
Provision
At 1 January 2025 | -
Provision | -
At 31 December 2025 | -
Carrying amount
At 31 December 2025 | 67,114
At 31 December 2024 | 67,114

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Williams and Martin Limited | The Gilberries, New Street, Torrington, EX28 8BY United Kingdom | Ordinary shares | 100% | 100%

16 | Stocks

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Work in progress | 1,880,930 | 1,339,434 | 1,877,632 | 1,327,182

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

17 | Debtors

| Group | Company
Current | 2025 £ | 2024 £ | 2025 £ | 2024 £
Trade debtors | 4,739,877 | 3,377,784 | 4,664,342 | 3,239,538
Amounts owed by related parties | 232,221 | - | 160,299 | 185,698
Other debtors | 148,330 | 133,581 | 148,330 | 133,581
Prepayments | 78,372 | 203,989 | 76,369 | 199,269
| 5,198,800 | 3,715,354 | 5,049,340 | 3,758,086

18 | Cash and cash equivalents

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Cash on hand | 414 | 550 | 401 | 537
Cash at bank | 1,400,471 | 1,607,847 | 1,322,811 | 1,303,976
Short-term deposits | 1,186,278 | 774,658 | 1,186,278 | 774,658
| 2,587,163 | 2,383,055 | 2,509,490 | 2,079,171

19 | Creditors

|  | Group | Company
| Note | 2025 £ | 2024 £ | 2025 £ | 2024 £
Due within one year |  |  |  |  |
Loans and borrowings | 24 | 895,273 | 649,488 | 870,596 | 624,811
Trade creditors |  | 3,201,987 | 2,136,589 | 3,182,397 | 2,119,416
Amounts due to related parties |  | - | 150,000 | - | 150,000
Social security and other taxes |  | 1,224,715 | 868,521 | 1,221,568 | 858,062
Other payables |  | 136,827 | 78,007 | 130,209 | 71,416
Accruals |  | 123,010 | 115,325 | 117,025 | 107,809
Corporation tax liability | 12 | 80,886 | 67,396 | 80,886 | 51,835
|  | 5,662,698 | 4,065,326 | 5,602,681 | 3,983,349
Due after one year |  |  |  |  |
Loans and borrowings | 24 | 1,014,770 | 622,026 | 1,014,770 | 622,026

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

20 | Provisions for liabilities

Group

| Deferred tax £ | Total £
At 1 January 2025 | 323,106 | 323,106
Increase through disposals | 129,719 | 129,719
At 31 December 2025 | 452,825 | 452,825

Company

| Deferred tax £ | Total £
At 1 January 2025 | 323,609 | 323,609
Increase through disposals | 130,450 | 130,450
At 31 December 2025 | 454,059 | 454,059

21 | Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £396,100 (2024 - £289,666).

22 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 600 | 600 | 600 | 600

23 | Reserves

Company

Profit and loss account

This reserve records retained earnings and accumulated losses.

Capital Redemption Reserve

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

23 | Reserves (continued)

This reserve records the nominal value of the shares re-purchased by the company.

24 | Loans and borrowings

Non-current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Bank borrowings | 254,712 | 191,668 | 254,712 | 191,668
Finance lease liabilities | 760,058 | 430,358 | 760,058 | 430,358
| 1,014,770 | 622,026 | 1,014,770 | 622,026

Current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Bank borrowings | 268,639 | 224,677 | 243,962 | 200,000
Finance lease liabilities | 626,634 | 424,811 | 626,634 | 424,811
| 895,273 | 649,488 | 870,596 | 624,811

Bank borrowings contains two loans held with Lloyds Bank.
The first loan of £500,000 was taken out in April 2021 and is repayable in 60 monthly equal instalments of £8,333.33 starting 1 year after the loan was received. The interest on the loan is at 2.05% + base rate.
The second loan of £350,000 was taken out in March 2025 and is repayable in 60 monthly equal instalments of £7,138.10 commencing in March 2025. The interest on the loan is fixed at 7.6%.
As at the year-end £221,379 is shown as repayable within one year and £277,295 shown as repayable after one year.
These loans are secured by an existing fixed and floating debenture charge, dated April 2008, which Lloyds Bank holds over the Company and all it’s property and assets.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

25 | Obligations under leases and hire purchase contracts

Group and Company

Finance leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 626,634 | 424,811
Later than one year and not later than five years | 760,058 | 430,358
| 1,386,692 | 855,169

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 220,645 | 101,001
Later than one year and not later than five years | 607,229 | 270,709
Later than five years | 79,875 | 51,625
| 907,749 | 423,335

The amount of non-cancellable operating lease payments recognised as an expense during the year was £203,824 (2024 - £147,063).

26 | Related party transactions

Group

Summary of transactions with other related parties

Debtors includes a balance for Sussex Holdings (SW) Ltd of £232,221 (2024: £Nil). No interest is being charged on the loan and it is repayable on demand. A charge was taken out against Westcountry Maintenance Services Ltd in October 2025 by Lloyds bank. This is for the guarantee of liabilities with Sussex Holdings (SW) Ltd. The companies are under common control.

Westcountry Maintenance Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

26 | Related party transactions (continued)

Company

Transactions with directors

2025 | At 1 January 2025 £ | Advances to director £ | At 31 December 2025 £
Mr M R Sussex | (150,000) | 170,000 | 20,000

2024 | At 1 January 2024 £ | Other payments made to company by director £ | At 31 December 2024 £
Mr M R Sussex | - | (150,000) | (150,000)

The Directors Loan Account is repayable on demand and no interest is being charged.

Dividends paid to directors

|  | 2025 £ |  | 2024 £
Directors |  | - |  | 240,000

Summary of transactions with all other related parties

During the year, a Director used the services of the company to perform private work. The total value of this work was £778 (2024: £9,842). There was no outstanding balance at the year end.