REGISTERED NUMBER: 08622598 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 July 2025

for

R S Recovery Holdings Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

to

4

Report of the Independent Auditors

5

to

7

Consolidated Statement of Income and Retained Earnings

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Cash Flow Statement

11

Notes to the Consolidated Cash Flow Statement

12

Notes to the Consolidated Financial Statements

13

to

23

DIRECTORS:

Mr A S Sanghera

Mr R S Rai

REGISTERED OFFICE:

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

REGISTERED NUMBER:

08622598 (England and Wales)

SENIOR STATUTORY AUDITOR:

Frances Clapham

AUDITORS:

CKCA Limited

Castle Court 2

Castlegate Way

Dudley

West Midlands

DY1 4RH

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

REVIEW OF BUSINESS

The Principal activity of the group continues to be that of countrywide motor vehicle recovery. The Directors are pleased to report another successful year. As for many businesses of this size, the business environment in which the group operates continues to be challenging and very competitive.

Given the competitive nature of the industry the Directors consider the group's results for the year to be satisfactory and believe the group is well placed to react quickly to ant changes in trading conditions and to take advantage of any business opportunities that may rise.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the group's strategies are subject to risks which are reviewed by the board of directors to ensure that appropriate processes are put in place to monitor these risks.

The directors continue to mitigate risks that have impacted the group as follows:

* The group operates in a highly competitive environment and faces tough competition from other companies in the industry and it continues to provide a strong brand identity and investment into the future of the company.

* The group has a strict maintenance of compliance within their third party network by means of using independent third party accreditation's independent verification of insurance through brokers/insurers.

* Investments in modern and feature rich Telecommunications systems to improve efficiency and service.

* Ongoing liaison with third party IT specialists and cyber insurers to ensure the company is protected from cyber security risks from both a technical and risk perspective.

* Achieving ISO: 9001 accreditation with a view to getting further accreditation

TRADING PERFORMANCE AND KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators as those that communicate the financial performance and the strength of the group as a whole. KPIs relevant to the group have been calculated as follows:

31.7.25

31.7.24

£

£

Turnover

28,310,254

27,176,487

Gross Profit margin

6,635,174

7,575,871

Profit before taxation

2,821,739

3,713,174

Turnover for the year amounted to £28,310,254 (2024 - £27,176,487) an increase of 4.17%.

Gross profit margin has decreased to 23.44% from 27.88% as a result of rising labour costs.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and that the risks that have been identified are being well managed. with careful focus on quality of service, as well as continuing review of the state of the market and the activities of the competitors, the directors are confident in the company's ability to maintain and build on this position.

ON BEHALF OF THE BOARD:

Mr A S Sanghera - Director

25 March 2026

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

PRINCIPAL ACTIVITY

The principal activity of the group is rental of recovery vehicles and motor vehicle recovery service.

DIVIDENDS

During the year the company paid an interim dividend of £13,250 (2024 £11,740) per share. The directors recommend that no final dividend be paid on these shares.

The total distribution of the dividends for the year ending 31 July 2025 will be £1,325,000 (2024- £1,174,000).

DIRECTORS

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

Mr A S Sanghera

Mr R S Rai

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr A S Sanghera - Director

25 March 2026

Opinion

We have audited the financial statements of R S Recovery Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 July 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed included but were not limited to:

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

- Confirming our understanding of controls by performing a walkthrough test or observation and enquiry

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

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Identifying and testing journal entries;

- Reviewing unusual or unexpected transactions; and

- Agreeing the financial statement disclosures to underlying supporting documentation.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

Frances Clapham (Senior Statutory Auditor)

on behalf of CKCA Limited

Castle Court 2

Castlegate Way

Dudley

West Midlands

DY1 4RH

25 March 2026

TURNOVER

3

28,310,254

27,176,487

Cost of sales

21,675,080

19,600,616

GROSS PROFIT

6,635,174

7,575,871

Administrative expenses

3,633,373

3,717,973

3,001,801

3,857,898

Other operating income

20,782

-

OPERATING PROFIT

6

3,022,583

3,857,898

Interest receivable and similar income

37,879

9,484

3,060,462

3,867,382

Interest payable and similar expenses

7

238,723

154,208

PROFIT BEFORE TAXATION

2,821,739

3,713,174

Tax on profit

8

874,990

1,012,749

PROFIT FOR THE FINANCIAL YEAR

1,946,749

2,700,425

Retained earnings at beginning of year

5,088,139

3,751,523

Dividends

10

(1,325,000

)

(1,174,000

)

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR

5,709,888

5,277,948

Profit attributable to:

Owners of the parent

2,133,747

2,510,616

Non-controlling interests

(186,998

)

189,809

1,946,749

2,700,425

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

6,843,794

5,552,891

Investments

13

-

-

6,843,794

5,552,891

CURRENT ASSETS

Stocks

14

64,500

52,500

Debtors

15

7,500,532

6,852,213

Cash at bank and in hand

3,249,132

4,090,813

10,814,164

10,995,526

CREDITORS

Amounts falling due within one year

16

5,382,317

5,416,685

NET CURRENT ASSETS

5,431,847

5,578,841

TOTAL ASSETS LESS CURRENT LIABILITIES

12,275,641

11,131,732

CREDITORS

Amounts falling due after more than one year

17

(3,095,775

)

(2,756,834

)

PROVISIONS FOR LIABILITIES

19

(1,639,232

)

(1,306,013

)

NET ASSETS

7,540,634

7,068,885

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

5,896,886

5,088,139

SHAREHOLDERS' FUNDS

5,896,986

5,088,239

NON-CONTROLLING INTERESTS

22

1,643,648

1,980,646

TOTAL EQUITY

7,540,634

7,068,885

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

Mr R S Rai - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

489,142

377,876

Investments

13

100

100

489,242

377,976

CURRENT ASSETS

Debtors

15

2,827,853

1,767,243

Cash at bank

1,081,209

1,030,924

3,909,062

2,798,167

CREDITORS

Amounts falling due within one year

16

35,215

11,932

NET CURRENT ASSETS

3,873,847

2,786,235

TOTAL ASSETS LESS CURRENT LIABILITIES

4,363,089

3,164,211

PROVISIONS FOR LIABILITIES

19

109,457

56,325

NET ASSETS

4,253,632

3,107,886

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

4,253,532

3,107,786

SHAREHOLDERS' FUNDS

4,253,632

3,107,886

Company's profit for the financial year

2,470,746

2,443,806

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

Mr R S Rai - Director

Cash flows from operating activities

Cash generated from operations

1

4,166,560

4,604,333

Interest paid

(19,686

)

(9,210

)

Interest element of hire purchase payments paid

(219,037

)

(144,998

)

Tax paid

(1,141,666

)

(175,943

)

Net cash from operating activities

2,786,171

4,274,182

Cash flows from investing activities

Purchase of tangible fixed assets

(556,581

)

(5,090,998

)

Sale of tangible fixed assets

90,592

47,840

Reclassification of assets

-

12,917

Interest received

37,879

9,484

Net cash from investing activities

(428,110

)

(5,020,757

)

Cash flows from financing activities

Capital repayments in year

(1,744,915

)

3,277,553

Amount introduced by directors

23,057

298,353

Amount withdrawn by directors

(2,884

)

(298,702

)

Equity dividends paid

(1,325,000

)

(1,174,000

)

Dividends paid to minority interests

(150,000

)

(123,000

)

Net cash from financing activities

(3,199,742

)

1,980,204

(Decrease)/increase in cash and cash equivalents

(841,681

)

1,233,629

Cash and cash equivalents at beginning of year

2

4,090,813

2,857,184

Cash and cash equivalents at end of year

2

3,249,132

4,090,813

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

31.7.25

31.7.24

£

£

Profit before taxation

2,821,739

3,713,174

Depreciation charges

1,494,878

1,312,911

Profit on disposal of fixed assets

(65,725

)

(16,878

)

Finance costs

238,723

154,208

Finance income

(37,879

)

(9,484

)

4,451,736

5,153,931

Increase in stocks

(12,000

)

(1,848

)

Increase in trade and other debtors

(648,318

)

(1,033,951

)

Increase in trade and other creditors

375,142

486,201

Cash generated from operations

4,166,560

4,604,333

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2025

31.7.25

1.8.24

£

£

Cash and cash equivalents

3,249,132

4,090,813

Year ended 31 July 2024

31.7.24

1.8.23

£

£

Cash and cash equivalents

4,090,813

2,857,184

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.8.24

Cash flow

changes

At 31.7.25

£

£

£

£

Net cash

Cash at bank

and in hand

4,090,813

(841,681

)

3,249,132

4,090,813

(841,681

)

3,249,132

Debt

Finance leases

(4,248,767

)

1,744,915

(2,254,067

)

(4,757,919

)

(4,248,767

)

1,744,915

(2,254,067

)

(4,757,919

)

Total

(157,954

)

903,234

(2,254,067

)

(1,508,787

)

1.	STATUTORY INFORMATION

R S Recovery Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The group consists of R S Recovery Holdings Limited and its subsidiary.

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 unless otherwise specified within these accounting policies and in accordance with the Financial Reporting Standards 102, the financial Reporting Standards applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has taken advantage of the exemption allowed under Section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.

The financial statements have been prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Basis of consolidation

The consolidated financial statements present the results of the company and its subsidiaries(ie entities that the group group controls through its power to govern the financial and operating policies so as to obtain economic benefits) as if they form single entity. Intercompany transactions and balances between the group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of the acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained.

Significant judgements and estimates

In the application of the group'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 the period, or in the period of the revision and future periods where the revision affects both the current and future periods.

Key Sources of estimation uncertainty

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.

Useful economic lives of the motor vehicle assets

The annual depreciation charge for motor vehicle 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for motor vehicle recovery services provided in the normal course of business, which is recognised on the date of the recovery net of VAT and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Short leasehold

-

2% on cost

Building and Structures

-

3% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Stocks

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

Financial instruments

Financial instruments are recognised in the company balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

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

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

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme for its employees. A defined contribution plan is a plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. Amounts not paid are shown as creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds,

Going concern

The directors have assessed the group's ability to continue as a going concern. As a result of this assessment, no material uncertainties have been identified that cast doubt about the ability of the company or the group to continue as going concern.

The group meets its day to day working capital requirements through group banking facilities and the directors are confident that the current facilities will continue to be made available to the group.

3.

TURNOVER

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

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

31.7.25

31.7.24

£

£

Motor vehicle recovery

28,310,254

27,176,487

28,310,254

27,176,487

An analysis of turnover by geographical market is given below:

31.7.25

31.7.24

£

£

United Kingdom

28,310,254

27,176,487

28,310,254

27,176,487

4.	EMPLOYEES AND DIRECTORS

The average monthly number of persons(including directors) employed by the group and company during the year was

Group

Group

Company

Company

2025

2024

2025

2024

Number

Number

Number

Number

Directors

4

4

2

2

Administration

59

62

Productive

86

72

149

138

2

2

Their aggregate remuneration comprised

Group

Group

Company

Company

2025

2024

2025

2024

Number

Number

Number

Number

Wages

6,407,973

5,469,427

-

-

Social Security Costs

762,773

570,104

-

-

Pension costs

133,490

114,190

-

-

7,304,236

6,153,721

-

-

5.	DIRECTORS' EMOLUMENTS

Directors Remuneration

2025

2024

£

£

Directors Emoluments

63,100

53,158

Directors Pensions

398

380

63,498

53,538

During the year retirement benefits were accruing to 2 directors £398 (2024- 380) in respect of defined contribution pension schemes.

6.	OPERATING PROFIT

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

31.7.25

31.7.24

£

£

Depreciation - owned assets

219,380

169,525

Depreciation - assets on hire purchase contracts

1,275,498

1,143,386

Profit on disposal of fixed assets

(65,725

)

(16,878

)

Auditors' remuneration

18,700

17,100