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Registered number: NI627058
RTU Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 July 2025
RTU Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2—3
Independent Auditor's Report | 4—6
Consolidated Statement of Comprehensive Income | 7
Consolidated Balance Sheet | 8
Company Balance Sheet | 9—10
Consolidated Statement of Changes in Equity | 11
Company Statement of Changes in Equity | 12
Consolidated Statement of Cash Flows | 13
Notes to the Consolidated Statement of Cash Flows | 14
Company Statement of Cash Flows | 15
Notes to the Company Statement of Cash Flows | 16
Notes to the Financial Statements | 17—28

Page 1
RTU Limited
Strategic Report
For The Year Ended 31 July 2025
Strategic Report
The directors present their strategic report for the year ended 31 July 2025.
Review of the Business
The directors are pleased to report that the group had another successful trading year. The results for the year are set out in the financial statements.
Revenue increased to £21,945,644 (2024: £18,635,365), with profit before taxation of £2,013,476 (2024: £1,994,595). The improvement in performance reflects continued strong demand and effective cost management across the group’s operations.
The concrete industry remains highly competitive; however, the directors consider the group’s financial position at the year end to be satisfactory. The group continues to invest in its asset base and operations and is well placed to develop its activities in the foreseeable future.
During the prior year, the results of Colinwell Masonry Products Limited were included for a shorter period following its acquisition. As a result, the comparative figures are not directly comparable with the current year, which reflects a full 12 months of trading for that entity.
The increase in revenue and profitability in the current year therefore reflects both this difference in reporting periods and continued strong underlying trading performance.
Principal Risks and Uncertainties
Key Performance Indicators
The directors use the following key performance indicators to monitor the performance of the group:

| 2025 |  | 2024
| £ |  | £
Revenue | 21,945,644 |  | 18,635,365
Gross Profit | 6,179,120 |  | 4,788,634
Profit before taxation | 2,013,476 |  | 1,994,595

Financial risk management objectives and policies
The group's operations expose it to financial risks that include the effects of changes in market prices, credit risk and liquidity risk. The company has in place a risk management programme to monitor its exposure to financial risk. The directors have the responsibility of monitoring financial risk and the policies set by the directors are implemented by the company's finance department.
Price Risk
The group is exposed to commodity price risk as a result of its operations. However, given the size of the company's operations, the costs of managing the 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.
Credit Risk
The group has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reviewed regularly by the directors and the credit controllers.
On behalf of the board

Mr Alan Sproule Director
21 April 2026

Page 1
Page 2
RTU Limited
Company No. NI627058
Directors' Report For The Year Ended 31 July 2025
Directors' Report
The directors present their report and the financial statements for the year ended 31 July 2025.
Principal Activity
The group's principal activity continues to be that of manufacturing and distribution of ready mixed concrete and construction products.
Dividends
The value of dividends paid amounted to £195,500 .
Directors
The directors who held office during the year were as follows:

Mr Alan Sproule
Mr Samuel McIlroy
Mr David McIlroy
Mr Daniel McIlroy
Mr Franklin McIlroy

Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
- 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 and 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

Page 2
Page 3
RTU Limited
Directors' Report (continued)
For The Year Ended 31 July 2025
Independent Auditors
The auditors, KGA Accountants LLP, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board

Mr Alan Sproule Director
21 April 2026

Page 3
Page 4
Independent Auditor's Report
to the Members of
RTU Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of RTU Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 July 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:

- give a true and fair view of the state of the group's and of the parent company's affairs as at 31 July 2025 and of the group's profit/(loss) 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's 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 group and parent company's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 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.

Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
RTU Limited
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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 group and 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.
Page 5
Page 6
Independent Auditor's Report (continued)
to the Members of
RTU Limited
Auditor's 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, environmental regulations and health and safety laws, together with the provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We tailored our response to those identified risks to include enquiring of management concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with tax authorities and other regulatory bodies.
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. We design and perform audit procedures responsive to those risks including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with Laws and Regulations, we considered the following :
-The nature of the industry and sector, control environment and business performance including the groups remuneration policies, and performance targets.
Results of our enquiries of management and other key persons about the groups own identification and assessment of the risks of irregularities , including those that may occur a as result of fraud and error, and matters we identified from the groups policies and procedures and internal controls and the matters discussed among the audit team regarding potential indicators of fraud and where it might occur in the financial statements.
In addressing the risk of fraud through management override of controls we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that 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.

Eunan Kerlin (Senior Statutory Auditor) for and on behalf of KGA Accountants LLP , Statutory Auditor
21 April 2026

Page 6
Page 7
RTU Limited
Consolidated Statement of Comprehensive Income
For The Year Ended 31 July 2025
Consolidated Statement of Comprehensive Income

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER |  | 21,945,644 |  | 18,635,365
Cost of sales |  | (15,766,524 ) |  | (13,846,731 )
GROSS PROFIT |  | 6,179,120 |  | 4,788,634
Distribution costs |  | (1,183,783 ) |  | (1,089,981 )
Administrative expenses |  | (3,003,638 ) |  | (1,704,349 )
OPERATING PROFIT | 3 | 1,991,699 |  | 1,994,304
Profit on disposal of fixed assets |  | 57,063 |  | -
Profit on disposal of current asset investments |  | - |  | 56,130
Other interest receivable and similar income | 8 | 45,651 |  | 5,005
Interest payable and similar charges | 9 | (80,937 ) |  | (60,844 )
PROFIT BEFORE TAXATION |  | 2,013,476 |  | 1,994,595
Tax on Profit | 10 | (572,722 ) |  | (541,900 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |  | 1,440,754 |  | 1,452,695
OTHER COMPREHENSIVE INCOME FOR THE YEAR |  | - |  | -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |  | 1,440,754 |  | 1,452,695

The notes on pages 14 to 28 form part of these financial statements.
Page 7
Page 8
RTU Limited
Consolidated Balance Sheet
As At 31 July 2025
Consolidated Balance Sheet
Registered number: NI627058

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 11 |  | 1,958,182 |  | 2,492,232
Tangible Assets | 12 |  | 5,298,203 |  | 4,418,793
Investments | 13 |  | 421,784 |  | 170,000
|  |  | 7,678,169 |  | 7,081,025
CURRENT ASSETS
Stocks | 14 | 727,003 |  | 575,593 |
Debtors | 15 | 4,746,216 |  | 3,937,605 |
Cash at bank and in hand |  | 737,495 |  | 1,382,705 |
|  | 6,210,714 |  | 5,895,903 |
Creditors: Amounts Falling Due Within One Year | 16 | (4,597,438 ) |  | (4,679,889 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,613,276 |  | 1,216,014
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 9,291,445 |  | 8,297,039
Creditors: Amounts Falling Due After More Than One Year | 17 |  | (1,824,091 ) |  | (2,316,264 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 19 |  | (937,848 ) |  | (696,523 )
NET ASSETS |  |  | 6,529,506 |  | 5,284,252
CAPITAL AND RESERVES
Called up share capital | 21 |  | 1,000 |  | 1,000
Profit and Loss Account |  |  | 6,528,506 |  | 5,283,252
SHAREHOLDERS' FUNDS |  |  | 6,529,506 |  | 5,284,252

On behalf of the board

Mr Alan Sproule Director | Mr Franklin McIlroy Director
21 April 2026

The notes on pages 14 to 28 form part of these financial statements.
Page 8
Page 9
RTU Limited
Company Balance Sheet
As At 31 July 2025
Company Balance Sheet
Registered number: NI627058

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 12 |  | 4,631,163 |  | 3,805,975
Investments | 13 |  | 4,687,642 |  | 4,858,734
|  |  | 9,318,805 |  | 8,664,709
CURRENT ASSETS
Stocks | 14 | 277,838 |  | 218,779 |
Debtors | 15 | 4,158,821 |  | 3,412,418 |
Cash at bank and in hand |  | 641,366 |  | 1,144,493 |
|  | 5,078,025 |  | 4,775,690 |
Creditors: Amounts Falling Due Within One Year | 16 | (3,503,486 ) |  | (3,810,586 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,574,539 |  | 965,104
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 10,893,344 |  | 9,629,813
Creditors: Amounts Falling Due After More Than One Year | 17 |  | (4,070,886 ) |  | (3,953,502 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 19 |  | (777,247 ) |  | (548,734 )
NET ASSETS |  |  | 6,045,211 |  | 5,127,577
CAPITAL AND RESERVES
Called up share capital | 21 |  | 1,000 |  | 1,000
Profit and Loss Account |  |  | 6,044,211 |  | 5,126,577
SHAREHOLDERS' FUNDS |  |  | 6,045,211 |  | 5,127,577

Page 9
Page 10
RTU Limited
Company Balance Sheet (continued)
As At 31 July 2025
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 1,113,134 (2024: £ 1,383,160 profit).
The financial statements were approved by the board of directors on 21 April 2026 and were signed on its behalf by:

Mr Alan Sproule Director | Mr Franklin McIlroy Director
21 April 2026

The notes on pages 14 to 28 form part of these financial statements.
Page 10
Page 11
RTU Limited
Consolidated Statement of Changes in Equity
For The Year Ended 31 July 2025
Consolidated Statement of Changes in Equity

| Share Capital | Profit and Loss Account | Total
--- | --- | --- | ---
| £ | £ | £
As at 1 August 2023 | 1,000 | 4,007,307 | 4,008,307
Profit for the year and total comprehensive income | - | 1,452,695 | 1,452,695
Dividends paid | - | (176,750) | (176,750)
As at 31 July 2024 and 1 August 2024 | 1,000 | 5,283,252 | 5,284,252
Profit for the year and total comprehensive income | - | 1,440,754 | 1,440,754
Dividends paid | - | (195,500) | (195,500)
As at 31 July 2025 | 1,000 | 6,528,506 | 6,529,506

Page 11
Page 12
RTU Limited
Company Statement of Changes in Equity
For The Year Ended 31 July 2025
Company Statement of Changes in Equity

| Share Capital | Profit and Loss Account | Total
--- | --- | --- | ---
| £ | £ | £
As at 1 August 2023 | 1,000 | 3,920,167 | 3,921,167
Profit for the year and total comprehensive income | - | 1,383,160 | 1,383,160
Dividends paid | - | (176,750) | (176,750)
As at 31 July 2024 and 1 August 2024 | 1,000 | 5,126,577 | 5,127,577
Profit for the year and total comprehensive income | - | 1,113,134 | 1,113,134
Dividends paid | - | (195,500) | (195,500)
As at 31 July 2025 | 1,000 | 6,044,211 | 6,045,211

Page 12
Page 13
RTU Limited
Consolidated Statement of Cash Flows
For The Year Ended 31 July 2025
Consolidated Statement of Cash Flows

| 2025 |  | 2024
| Notes | £ |  | £
Cash flows from operating activities
Net cash generated from operations | 1 | 3,207,178 |  | 2,619,472
Interest paid |  | (80,937 ) |  | (60,844 )
Tax paid |  | (816,210 ) |  | (258,298 )
Net cash generated from operating activities |  | 2,310,031 |  | 2,300,330
Cash flows from investing activities
Purchase of intangible assets |  | - |  | (3,444,923 )
Purchase of tangible assets |  | (1,811,024 ) |  | (1,082,356 )
Proceeds from disposal of tangible assets |  | 75,566 |  | 32,430
Proceeds from disposal of investment in subsidiary undertaking |  | (1,784 ) |  | (1,000 )
Purchase of other fixed asset investments |  | (420,000 ) |  | (170,000 )
Proceeds from disposal of other fixed asset investments |  | 170,000 |  | -
Proceeds from disposal of current asset investments |  | - |  | 56,130
Interest received |  | 45,651 |  | 5,005
Net cash used in investing activities |  | (1,941,591 ) |  | (4,604,714 )
Cash flows from financing activities
Purchase/redemption of own shares |  | - |  | (72,000 )
Equity dividends paid |  | (195,500 ) |  | (176,750 )
Repayment of finance leases |  | (545,521 ) |  | 905,409
Amount introduced by directors |  | 2 |  | 49,259
Amount withdrawn by directors |  | (272,631) |  | -
Net cash (used in)/generated from financing activities |  | (1,013,650 ) |  | 705,918
Decrease in cash and cash equivalents |  | (645,210 ) |  | (1,598,466 )
Cash and cash equivalents at beginning of year | 2 | 1,382,705 |  | 2,981,171
Cash and cash equivalents at end of year | 2 | 737,495 |  | 1,382,705

Page 13
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RTU Limited
Notes to the Consolidated Statement of Cash Flows
For The Year Ended 31 July 2025
Notes to the Consolidated Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit for the financial year | 1,440,754 |  | 1,452,695
Adjustments for:
Tax on profit | 572,722 |  | 541,900
Interest expense | 80,937 |  | 60,844
Interest income | (45,651 ) |  | (5,005 )
Amortisation of intangible assets | 534,050 |  | 178,016
Depreciation of tangible assets | 913,111 |  | 624,737
Profit on disposal of tangible assets | (57,063) |  | (6,136)
Profit on disposal of current asset investments | - |  | (56,130)
Foreign exchange losses | - |  | 1,979
Movements in working capital:
(Increase)/decrease in stocks | (151,410 ) |  | 115,331
(Increase)/decrease in trade and other debtors | (198,949 ) |  | 76,017
Increase/(decrease) in trade and other creditors | 118,677 |  | (364,776 )
Net cash generated from operations | 3,207,178 |  | 2,619,472

2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cash at bank and in hand | 737,495 |  | 1,382,705

3. Analysis of changes in net funds/(debt)

| As at 1 August 2024 | Cash flows | As at 31 July 2025
--- | --- | --- | ---
| £ | £ | £
Cash at bank and in hand | 1,382,705 | (645,210) | 737,495
Finance leases | (1,359,643) | 545,521 | (814,122)
| 23,062 | (99,689) | (76,627)

Page 14
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RTU Limited
Company Statement of Cash Flows
For The Year Ended 31 July 2025
Company Statement of Cash Flows

| 2025 |  | 2024
| Notes | £ |  | £
Cash flows from operating activities
Net cash generated from operations | 1 | 2,486,574 |  | 3,550,741
Interest paid |  | (78,644 ) |  | (60,844 )
Tax paid |  | (585,139 ) |  | (253,272 )
Net cash generated from operating activities |  | 1,822,791 |  | 3,236,625
Cash flows from investing activities
Purchase of tangible assets |  | (1,604,084 ) |  | (1,082,355 )
Proceeds from disposal of tangible assets |  | 75,400 |  | 29,000
Purchase of investment in subsidiary undertaking |  | - |  | (4,688,634 )
Proceeds from disposal of investment in subsidiary undertaking |  | 1,092 |  | 1,000
Purchase of other fixed asset investments |  | - |  | (170,000 )
Proceeds from disposal of other fixed asset investments |  | 170,000 |  | -
Proceeds from disposal of current asset investments |  | - |  | 56,130
Interest received |  | 45,324 |  | 3,738
Net cash used in investing activities |  | (1,312,268 ) |  | (5,851,121 )
Cash flows from financing activities
Equity dividends paid |  | (195,500 ) |  | (176,750 )
Repayment of finance leases |  | (545,521 ) |  | 905,409
Amount introduced by directors |  | 2 |  | 49,259
Amount withdrawn by directors |  | (272,631) |  | -
Net cash (used in)/generated from financing activities |  | (1,013,650 ) |  | 777,918
Decrease in cash and cash equivalents |  | (503,127 ) |  | (1,836,578 )
Cash and cash equivalents at beginning of year | 2 | 1,144,493 |  | 2,981,071
Cash and cash equivalents at end of year | 2 | 641,366 |  | 1,144,493

Page 15
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RTU Limited
Notes to the Company Statement of Cash Flows
For The Year Ended 31 July 2025
Notes to the Company Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit for the financial year | 1,113,134 |  | 1,383,160
Adjustments for:
Tax on profit | 286,486 |  | 461,054
Interest expense | 78,644 |  | 60,844
Interest income | (45,324 ) |  | (3,738 )
Depreciation of tangible assets | 760,393 |  | 582,191
Profit on disposal of tangible assets | (56,897) |  | (6,136)
Profit on disposal of current asset investments | - |  | (56,130)
Movements in working capital:
(Increase)/decrease in stocks | (59,059 ) |  | 38,547
Increase in trade and other debtors | (136,741 ) |  | (70,851 )
Increase in trade and other creditors | 545,938 |  | 1,161,800
Net cash generated from operations | 2,486,574 |  | 3,550,741

2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cash at bank and in hand | 641,366 |  | 1,144,493

3. Analysis of changes in net debt

| As at 1 August 2024 | Cash flows | As at 31 July 2025
--- | --- | --- | ---
| £ | £ | £
Cash at bank and in hand | 1,144,493 | (503,127) | 641,366
Finance leases | (1,359,643) | 545,521 | (814,122)
| (215,150) | 42,394 | (172,756)

Page 16
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RTU Limited
Notes to the Financial Statements
For The Year Ended 31 July 2025
Notes to the Financial Statements
1. General Information
RTU Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI627058 . The registered office is Cloughfern Avenue, Newtownabbey, Co. Antrim, BT37 0UZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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 are prepared in sterling which is the functional currency of the group and rounded to the nearest pound.
2.2. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 July 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Page 17
Page 18
RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.4. Significant judgements and estimations
The preparation for financial statements under FRS 102 requires estimates and assumptions to be made that affect both the value at which certain assets and liabilities are held at the balance sheet date and the amounts of revenue and expenditure recorded in the period. The directors believe the accounting policies chosen are appropriate to the particular circumstances and that the estimates, judgements and assumptions involved in the preparation of the financial statements are reasonable.
Accounting estimates made by management are based on information available to management at the time each estimate is made. Accordingly, actual outcomes may differ materially from current expectations. The estimates for which there is a significant risk of material adjustment to the financial statements are as follows:
Depreciation
The directors exercise judgement of the useful economic lives and residual values of all classes of fixed assets. These assets are then depreciated over their useful economic lives to their residual values.
Provision for doubtful debt
The directors review the recovery of trade debtors on a continuous basis for any indications of impairment. If such conditions are apparent and it is unlikely, due to deteriorated creditworthiness that the debt will be paid whether wholly or in part, a provision will be made.
2.5. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.6. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.7. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold | 2% on cost
Plant & Machinery | At varying rates 10 - 25% on cost
Motor Vehicles | At varying rates on cost 16% - 50%
Fixtures & Fittings | At varying rates 10 - 25% on cost
Computer Equipment | 33% on cost

2.8. Investments
Investments in subsidiary undertakings are stated at cost less impairment.
Other fixed asset investments are stated at cost less impairment.
At each reporting date, investments are reviewed for indicators of impairment. Where indicators exist, the recoverable amount is estimated and any impairment loss is recognised in the profit and loss account.
Page 18
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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.9. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.10. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.11. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.12. 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.13. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 19
Page 20
RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.14. Debtors and creditors (Receivables / Payables) within one year
Debtors and creditors with no stated interest rate are receivable or payable within one year are recorded at transactional price. Any losses arising from the impairment are recognised in the profit and loss account in other administrative expenses.
3. Operating Profit
The operating profit is stated after charging:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bad debts | 21,793 |  | 48,760
Depreciation of tangible fixed assets | 913,111 |  | 624,737
Amortisation of intangible fixed assets | 534,050 |  | 178,016
Profit on disposal of tangible fixed assets | - |  | (6,136 )

4. Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the group and company's financial statements | 11,500 |  | -

5. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Wages and salaries | 3,193,393 |  | 2,368,845 |  | 2,350,741 |  | 2,141,371
Social security costs | 339,361 |  | 228,145 |  | 244,951 |  | 203,830
Other pension costs | 696,558 |  | 258,610 |  | 666,499 |  | 250,513
| 4,229,312 |  | 2,855,600 |  | 3,262,191 |  | 2,595,714

6. Average Number of Employees
Group
Average number of employees, including directors, during the year was: 77 (2024: 78)
Company
Average number of employees, including directors, during the year was: 59 (2024: 62)
77 78
59 62
Page 20
Page 21
RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
7. Directors' remuneration

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 451,008 |  | 315,390
Company contributions to money purchase pension schemes | 349,559 |  | 112,735
| 800,567 |  | 428,125

Information regarding the highest paid director was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 179,267 |  | 140,418
Company contributions to money purchase pension schemes | 15,598 |  | 15,504
| 194,865 |  | 155,922

8. Interest Receivable and Similar Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank interest receivable | 45,651 |  | 3,976
Deposit account interest | - |  | 1,029
| 45,651 |  | 5,005

9. Interest Payable and Similar Charges

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 2,946 |  | 2,463
Finance charges payable under finance leases and hire purchase contracts | 50,211 |  | 43,062
Other finance charges | 19,425 |  | -
| 72,582 |  | 45,525

10. Tax on Profit

The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 25.0% | 25.0% | 331,397 |  | 480,428
Deferred Tax
Deferred taxation | 241,325 |  | 61,472
Total tax charge for the period | 572,722 |  | 541,900
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

...CONTINUED
Page 21
Page 22
RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit before tax | 2,013,476 |  | 1,994,595
Tax on profit at 25% (UK standard rate) | 503,369 |  | 498,648
Goodwill/depreciation not allowed for tax | 133,512 |  | 44,504
Expenses not deductible for tax purposes | - |  | 450
Short term timing differences | - |  | (1,161 )
Research and Development tax credit | (64,159 ) |  | -
Overseas tax suffered/expensed | - |  | (541 )
Total tax charge for the period | 572,722 |  | 541,900

11. Intangible Assets
Group

| Goodwill
--- | ---
| £
Cost
As at 1 August 2024 | 2,670,248
As at 31 July 2025 | 2,670,248
Amortisation
As at 1 August 2024 | 178,016
Provided during the period | 534,050
As at 31 July 2025 | 712,066
Net Book Value
As at 31 July 2025 | 1,958,182
As at 1 August 2024 | 2,492,232

Company
The company had no intangible fixed assets as at 31 July 2025 or 31 July 2024.
12. Tangible Assets
Group

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 August 2024 | 1,009,211 | 3,396,810 | 4,371,954 | 174,648
Additions | - | 940,847 | 819,154 | 26,700
Disposals | - | (179,300 ) | (545,160 ) | (3,692 )
As at 31 July 2025 | 1,009,211 | 4,158,357 | 4,645,948 | 197,656

...CONTINUED
Page 22
Page 23
RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025

Depreciation
As at 1 August 2024 | 166,313 | 1,921,976 | 2,389,569 | 106,392
Provided during the period | 7,425 | 308,258 | 561,785 | 9,906
Disposals | - | (160,797 ) | (545,160 ) | (3,692 )
As at 31 July 2025 | 173,738 | 2,069,437 | 2,406,194 | 112,606
Net Book Value
As at 31 July 2025 | 835,473 | 2,088,920 | 2,239,754 | 85,050
As at 1 August 2024 | 842,898 | 1,474,834 | 1,982,385 | 68,256

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 August 2024 | 147,210 | 9,099,833
Additions | 24,323 | 1,811,024
Disposals | (7,673 ) | (735,825 )
As at 31 July 2025 | 163,860 | 10,175,032
Depreciation
As at 1 August 2024 | 96,790 | 4,681,040
Provided during the period | 25,737 | 913,111
Disposals | (7,673 ) | (717,322 )
As at 31 July 2025 | 114,854 | 4,876,829
Net Book Value
As at 31 July 2025 | 49,006 | 5,298,203
As at 1 August 2024 | 50,420 | 4,418,793

Company

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 August 2024 | 1,009,211 | 2,888,414 | 4,232,568 | 174,648
Additions | - | 780,371 | 786,964 | 17,979
Disposals | - | (179,300 ) | (545,160 ) | (3,692 )
As at 31 July 2025 | 1,009,211 | 3,489,485 | 4,474,372 | 188,935
Depreciation
As at 1 August 2024 | 166,314 | 1,893,521 | 2,376,696 | 106,392
Provided during the period | 7,425 | 203,405 | 520,364 | 8,085
Disposals | - | (160,797 ) | (545,160 ) | (3,692 )
As at 31 July 2025 | 173,739 | 1,936,129 | 2,351,900 | 110,785

...CONTINUED
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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025

Net Book Value
As at 31 July 2025 | 835,472 | 1,553,356 | 2,122,472 | 78,150
As at 1 August 2024 | 842,897 | 994,893 | 1,855,872 | 68,256

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 August 2024 | 139,627 | 8,444,468
Additions | 18,770 | 1,604,084
Disposals | (7,673 ) | (735,825 )
As at 31 July 2025 | 150,724 | 9,312,727
Depreciation
As at 1 August 2024 | 95,570 | 4,638,493
Provided during the period | 21,114 | 760,393
Disposals | (7,673 ) | (717,322 )
As at 31 July 2025 | 109,011 | 4,681,564
Net Book Value
As at 31 July 2025 | 41,713 | 4,631,163
As at 1 August 2024 | 44,057 | 3,805,975

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Plant & Machinery | 333,948 |  | 649,322
Motor Vehicles | 1,012,225 |  | 1,192,973
| 1,346,173 |  | 1,842,295

13. Investments
Group

| Subsidiaries | Other | Total
--- | --- | --- | ---
| £ | £ | £
Cost or Valuation
As at 1 August 2024 | - | 170,000 | 170,000
Additions | - | 420,000 | 420,000
Disposals | 1,784 | (170,000 ) | (168,216 )
As at 31 July 2025 | 1,784 | 420,000 | 421,784
Provision
As at 1 August 2024 | - | - | -
As at 31 July 2025 | - | - | -

...CONTINUED
Page 24
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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025

Net Book Value
As at 31 July 2025 | 1,784 | 420,000 | 421,784
As at 1 August 2024 | - | 170,000 | 170,000

Company

| Subsidiaries | Other | Total
--- | --- | --- | ---
| £ | £ | £
Cost or Valuation
As at 1 August 2024 | 4,688,734 | 170,000 | 4,858,734
Disposals | (1,092 ) | (170,000 ) | (171,092 )
As at 31 July 2025 | 4,687,642 | - | 4,687,642
Provision
As at 1 August 2024 | - | - | -
As at 31 July 2025 | - | - | -
Net Book Value
As at 31 July 2025 | 4,687,642 | - | 4,687,642
As at 1 August 2024 | 4,688,734 | 170,000 | 4,858,734

Subsidiaries
Details of the group's subsidiaries as at 31 July 2025 are as follows:

Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding
--- | --- | --- | --- | ---
RTU Developments Limited | Cloughfern Avenue,BT37 0UZ | Ordinary | 100.00% | -
Colinwell Masonry Products Holdings Limited | 37 Colinglen Road BT17 0LP | Ordinary | 100.00% | -
Colinwell Masonry Products Limited | 37 Colinglen Road BT17 0LP | Ordinary | 100.00% | -

14. Stocks

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Stock | 727,003 |  | 575,593 |  | 277,838 |  | 218,779

15. Debtors

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Due within one year
Trade debtors | 3,273,458 |  | 2,937,380 |  | 2,714,916 |  | 2,467,986
Prepayments and accrued income | 106,461 |  | 116,923 |  | 77,608 |  | 61,130
Other debtors | 113,700 |  | (6,576 ) |  | 113,700 |  | (6,576 )
Directors' loan accounts | 913,910 |  | 641,281 |  | 913,910 |  | 641,281
| 4,407,529 |  | 3,689,008 |  | 3,820,134 |  | 3,163,821

...CONTINUED
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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025

Due after more than one year
Other debtors | - |  | 246,943 |  | - |  | 246,943
Corporation tax recoverable assets | 338,687 |  | 1,654 |  | 338,687 |  | 1,654
| 338,687 |  | 248,597 |  | 338,687 |  | 248,597
| 4,746,216 |  | 3,937,605 |  | 4,158,821 |  | 3,412,418

16. Creditors: Amounts Falling Due Within One Year

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Net obligations under finance lease and hire purchase contracts | 292,231 |  | 417,579 |  | 292,231 |  | 417,579
Trade creditors | 3,252,168 |  | 3,207,736 |  | 2,723,788 |  | 2,772,025
Other creditors | 51,782 |  | 7,048 |  | 51,782 |  | 5,674
Corporation tax | 468,633 |  | 616,413 |  | 195,186 |  | 385,319
Taxation and social security | 442,873 |  | 376,165 |  | 196,903 |  | 223,489
Accruals and deferred income | 89,751 |  | 54,948 |  | 43,596 |  | 6,500
| 4,597,438 |  | 4,679,889 |  | 3,503,486 |  | 3,810,586

17. Creditors: Amounts Falling Due After More Than One Year

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Net obligations under finance lease and hire purchase contracts | 521,891 |  | 942,064 |  | 521,891 |  | 942,064
Amounts owed to group undertakings | - |  | - |  | 2,246,795 |  | 1,637,238
Other creditors | 1,302,200 |  | 1,374,200 |  | 1,302,200 |  | 1,374,200
| 1,824,091 |  | 2,316,264 |  | 4,070,886 |  | 3,953,502

The Company has in issue 1,302,200 redeemable preference shares B of £1 each, classified as liabilities (as any redemption is at the behest of the holder). These shares do not carry voting rights. No dividend is payable on the preference shares.
The company has granted security to Northern Bank Limited in respect of its banking facilities. The security comprises:
• a fixed charge over the company’s book debts;
• a fixed equitable charge over non-vesting receivables; and
• a floating charge over all present and future property and undertaking of the company.
18. Obligations Under Finance Leases and Hire Purchase

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 292,231 |  | 417,579 |  | 292,231 |  | 417,579
Later than one year and not later than five years | 521,891 |  | 942,064 |  | 521,891 |  | 942,064
| 814,122 |  | 1,359,643 |  | 814,122 |  | 1,359,643
| 814,122 |  | 1,359,643 |  | 814,122 |  | 1,359,643

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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
19. Deferred Taxation
The provision for deferred tax is made up as follows:

| Group |  | Company
--- | --- | --- | ---
| 2025 |  | 2024 |  | 2025 |  | 2024
| £ |  | £ |  | £ |  | £
Other timing differences | 937,848 |  | 696,523 |  | 777,247 |  | 548,734

20. Provisions for Liabilities

Group
| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 August 2024 | 696,523 | 696,523
Utilised | 241,325 | 241,325
Balance at 31 July 2025 | 937,848 | 937,848

Company
| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 August 2024 | 548,734 | 548,734
Deferred taxation | 228,513 | 228,513
Balance at 31 July 2025 | 777,247 | 777,247

21. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
1,000 Ordinary Shares of £ 1.00 each | 1,000 |  | 1,000

22. Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £696,558 (2024: £258,610).
At the balance sheet date contributions of £14,644 (2024: £0) were due to the fund and are included in creditors.
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RTU Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
23. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 August 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 July 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Samuel McIlroy | 1,257 | - | 1,034 | - | 223
Mr David McIlroy | 478,449 | - | 1,499 | - | 476,950
Mr Daniel McIlroy | 159,064 | 241,772 | - | - | 400,837
Mr Franklin McIlroy | 2,508 | 3,648 | - | - | 6,150

The above loan is unsecured, interest free and repayable on demand.
24. Dividends

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
On equity shares:
Interim dividend paid | - |  | 51,750
Final dividend paid | 195,500 |  | 125,000
| 195,500 |  | 176,750

25. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group. Transactions between group entities have been eliminated on consolidation and are not disclosed in the financial statements.
Page 28