REGISTERED NUMBER: 03182631 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

P D BANNISTER HAULAGE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Profit and Loss Account

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

DIRECTORS:

David Bannister

Betty Bannister

Paul Leadbeater

Louise Leadbeater

REGISTERED OFFICE:

West Yorkshire Industrial Estate

Weaverthorpe Road

Bradford

West Yorkshire

BD4 6SX

REGISTERED NUMBER:

03182631 (England and Wales)

AUDITORS:

Walter Dawson & Son

Chartered Accountants

1 Valley Court

Canal Road

Bradford

West Yorkshire

BD1 4SP

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

REVIEW OF BUSINESS

The principal activity of the company continues to be that of a haulage contractor with supplementary activities comprising warehousing and re-pack services. As such, its key performance indicators are turnover, EBITDA, gross profit and net profit.

P D Bannisters principle continues to be offering a range of distribution, warehousing and packaging solutions whilst working with some of the leading retailers and food manufacturers.

Strategic focus this year was placed upon the new warehouse project and making it operational with a complete refit. The interior of the building was emptied, mezzanine flooring dismantled and new racking has been added to create increased storage and long-term business efficiencies. This however impacted on the operational progress of the new & current warehouse, a large investment of time and financial resources have impacted on productivity and cashflow. At the same time of the warehouse project a profitable contract was lost and with the relocation of stock between the warehouse creating empty storage, this resulted in a significant drop in turnover for several months.

This Years financial performance represents a struggle compared with previous years for the business. Turnover has decreased due to the impact of the warehouse issues mentioned above. The biggest impact to the business was the increase in minimum wage and the increase to employers NI. The impact on costs was not only directly in wages it was also seen in the direct running costs, all prices increased as businesses covered the increase, agency costs & subcontractors had significant increases.

PRINCIPAL RISKS AND UNCERTAINTIES

Increases in the salaries of employees due to consistent government minimum wages rises has seen the business constantly review salaries to keep pay in line with the current market. Wages costs have increased in warehousing and haulage and the use of agency and subcontractors has been a necessity to satisfy the increased workload and manage customer expectations.

The Buinessses continues to recognise the requirement to comply with the full compliance of driver and vehicle operation laws and regulations, regular training is key in combating the risk of non-compliance.

The Directors recognise the need to manage the logistical side as effectively as possible to mitigate the impact of rising fuel prices. The modernisation of the fleet will ensure that the company continues to benefit from improved efficiencies.

Trade debtors are managed closely with continual reviews of any credit terms offered to customers, with strict adherence to company policies regarding debt collections.

The directors continue to monitor market trends however as most customers are based in the food and beverage sector the directors are confident their services will be in demand in the future.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors consider turnover, EBITDA gross profit and net profit to be the key financial performance indicators, during the year the movements on these have been:

2025

2024

Movement

Turnover

£ 25,049,031

£ 25,530,694

1.9% Decrease

Gross Profit

£ 2,828,364

£ 4,347,659

35.0% Decrease

Gross Profit Percentage

11.3 %

17.0%

5.7% Decrease

EBITDA

£ 129,216

£ 1,660,893

92.2% Decrease

Net Profit/ (Loss)

£ (994,205)

£ 507,666

307.66% Decrease

GOING CONCERN

The company has experienced temporary cash flow difficulties, resulting in tax arrears of £374,365. The company has entered into a Time to Pay arrangement with HMRC to repay this debt in monthly instalments of £74,873.17 over 5 months ending on the 31st July 2026. The directors have prepared cash flow forecasts indicating that with this structured repayment, the company will meet its liabilities as they fall due. However, the reliance on this arrangement indicates a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern.

Further cashflow forecasts have been prepared. From these, the company has taken the decision to settle 9 of their current hire purchase agreements and sell 14 vehicles owned by the company. This will realise funds of £412,570 over 2 months spanning the end of April to the beginning of June. In addition to this a further 32 Trailers owned by the company, will be sold for £427,200.

There is now the company policy to renew the fleet by switching from ownership to hire. This will see replacement vehicles and trailers with contract hire in place.

ON BEHALF OF THE BOARD:

David Bannister - Director

24 April 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of that of haulage contractors.

DIVIDENDS

The directors recommend the payment of a dividend of £125,000 (2024:£125,000)

DIRECTORS

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

David Bannister

Betty Bannister

Paul Leadbeater

Louise Leadbeater

FINANCIAL INSTRUMENTS

Financial Instruments and Risk Management

The company's financial assets and liabilities consist of trade debtors and creditors, cash balances, bank loans and overdrafts, finance leases and hire purchase contracts.

The directors manage the company's exposure to financial risk by researching the credit worthiness of customers and by seeking advice from the company's providers of finance and its other external financial advisers.

Currency risk is restricted to the short term settlement of trading balances with customers and suppliers.

The company does not trade speculatively in derivatives or similar instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Walter Dawson & Son, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

David Bannister - Director

24 April 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 2 in the financial statements, which indicates that P D Bannister Haulage Limited has current liabilities which exceed current assets a time to pay arrangement with HMRC and a loan becoming due for repayment within the next twelve months. As stated in note 2, these events or conditions, along with the other matters as set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities,

including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate

competence, capabilities and skills to identify or recognise non-compliance with applicable laws and

regulations;

- we identified the laws and regulations applicable to the company through discussion with directors and

other management, and form our commercial knowledge and experience of the sector;

- we focussed on specific laws and regulations which considered may have a direct material effect on the

financial statements or the operations of the company, including the Companies Act 2006, taxation

legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making

enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team

remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including

obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was a susceptibility to fraud, their

knowledge of actual, suspected and alleged fraud; and

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

regulations.

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

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

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in

note 2 and where indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed

procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

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

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

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and

the company's legal advisors.

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.

John Richard Hall FCA (Senior Statutory Auditor)

for and on behalf of Walter Dawson & Son

Chartered Accountants

1 Valley Court

Canal Road

Bradford

West Yorkshire

BD1 4SP

24 April 2026

TURNOVER

25,049,031

25,530,694

Cost of sales

22,220,667

21,183,035

GROSS PROFIT

2,828,364

4,347,659

Distribution costs

359,275

369,860

Administrative expenses

3,023,673

3,157,423

3,382,948

3,527,283

OPERATING (LOSS)/PROFIT

4

(554,584

)

820,376

Interest receivable and similar income

8,876

2,387

(545,708

)

822,763

Interest payable and similar expenses

5

448,497

315,097

(LOSS)/PROFIT BEFORE TAXATION

(994,205

)

507,666

Tax on (loss)/profit

6

(268,712

)

149,633

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(725,493

)

358,033

(LOSS)/PROFIT FOR THE YEAR

(725,493

)

358,033

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(725,493

)

358,033

FIXED ASSETS

Tangible assets

9

11,599,505

9,425,087

CURRENT ASSETS

Stocks

10

50,898

34,565

Debtors

11

6,115,685

6,210,455

Cash at bank and in hand

25,016

518,170

6,191,599

6,763,190

CREDITORS

Amounts falling due within one year

12

10,226,445

7,586,989

NET CURRENT LIABILITIES

(4,034,846

)

(823,799

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,564,659

8,601,288

CREDITORS

Amounts falling due after more than one year

13

(2,783,363

)

(2,700,787

)

PROVISIONS FOR LIABILITIES

17

(144,518

)

(413,230

)

NET ASSETS

4,636,778

5,487,271

CAPITAL AND RESERVES

Called up share capital

18

10,000

10,000

Revaluation reserve

3,052,597

3,052,597

Profit and loss account

1,574,181

2,424,674

SHAREHOLDERS' FUNDS

4,636,778

5,487,271

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

David Bannister - Director

Called up

Profit

share

and loss

Revaluation

Total

capital

account

reserve

equity

£

£

£

£

Balance at 1 July 2023

10,000

2,191,641

3,052,597

5,254,238

Changes in equity

Profit for the year

-

358,033

-

358,033

Total comprehensive income

-

358,033

-

358,033

Dividends

-

(125,000

)

-

(125,000

)

Balance at 30 June 2024

10,000

2,424,674

3,052,597

5,487,271

Changes in equity

Deficit for the year

-

(725,493

)

-

(725,493

)

Total comprehensive income

-

(725,493

)

-

(725,493

)

Dividends

-

(125,000

)

-

(125,000

)

Balance at 30 June 2025

10,000

1,574,181

3,052,597

4,636,778

Cash flows from operating activities

Cash generated from operations

1

1,624,128

2,028,983

Interest paid

(328,794

)

(144,064

)

Interest element of hire purchase payments paid

(119,703

)

(171,033

)

Tax paid

-

(149,626

)

Net cash from operating activities

1,175,631

1,564,260

Cash flows from investing activities

Purchase of tangible fixed assets

(2,853,773

)

(1,039,270

)

Sale of tangible fixed assets

-

28,436

Interest received

8,876

2,387

Net cash from investing activities

(2,844,897

)

(1,008,447

)

Cash flows from financing activities

New loans in year

2,250,000

-

Loan repayments in year

(138,393

)

(106,155

)

Capital repayments in year

(829,278

)

(261,935

)

Amount introduced by directors

21,686

24,440

Amount withdrawn by directors

(2,903

)

-

Equity dividends paid

(125,000

)

(125,000

)

Net cash from financing activities

1,176,112

(468,650

)

(Decrease)/increase in cash and cash equivalents

(493,154

)

87,163

Cash and cash equivalents at beginning of year

2

518,170

431,007

Cash and cash equivalents at end of year

2

25,016

518,170

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

as

restated

£

£

(Loss)/profit before taxation

(994,205

)

507,666

Depreciation charges

679,355

844,629

Loss on disposal of fixed assets

-

50,371

Finance costs

448,497

315,097

Finance income

(8,876

)

(2,387

)

124,771

1,715,376

(Increase)/decrease in stocks

(16,333

)

1,375

Decrease/(increase) in trade and other debtors

75,987

(916,157

)

Increase in trade and other creditors

1,439,703

1,228,389

Cash generated from operations

1,624,128

2,028,983

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30 June 2025

30.6.25

1.7.24

£

£

Cash and cash equivalents

25,016

518,170

Year ended 30 June 2024

30.6.24

1.7.23

as restated

£

£

Cash and cash equivalents

518,170

431,007

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.7.24

Cash flow

At 30.6.25

£

£

£

Net cash

Cash at bank and in hand

518,170

(493,154

)

25,016

518,170

(493,154

)

25,016

Debt

Finance leases

(2,256,730

)

829,278

(1,427,452

)

Debts falling due within 1 year

(141,584

)

(1,277,946

)

(1,419,530

)

Debts falling due after 1 year

(1,416,339

)

(833,661

)

(2,250,000

)

(3,814,653

)

(1,282,329

)

(5,096,982

)

Total

(3,296,483

)

(1,775,483

)

(5,071,966

)

1.	STATUTORY INFORMATION

P D Bannister Haulage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern

The financial statements have been prepared on a going concern basis. As noted in the Directors' Report, the company incurred a net loss of during the year to 30 June 2025 of £725,493 and as of 30th June 2025, current liabilities exceeded current assets by £4,034,846. The company currently has a time to pay arrangement with HMRC of £17,365 per week. The final payment is due on 31 July 2026 and current HMRC liabilities are up to date. The bank loan due within one year at 30 June 2025 amounting to £1,419,530 as been refinanced with a new loan of £2,350,000 which is now due for repayment on the 30 September 2026. The directors are confident they will be able to refinance the loan when it becomes due for repayment. These events or conditions indicate a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.

In addition to the above actions the directors have also adopted a new policy of replacing a fleet ownership model with contract hire agreements. The directors have agreements to sell 14 vehicles owned by the company in May 2026 and replace them with contract hire agreements This will release cash of £412,570 back into the company. In June 2026 32 Trailers will be sold and replaced with contract hire releasing a further £427,200 of cash back into the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer Equipment

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs of debt

The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

Income recognition

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.

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.

3.	EMPLOYEES AND DIRECTORS

2025

2024

as

restated

£

£

Wages and salaries

9,091,125

8,915,140

Social security costs

925,617

844,017

Other pension costs

161,829

150,425

10,178,571

9,909,582

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

2025

2024

as

restated

Distribution, selling and production.

223

227

Administration

21

22

244

249

2025

2024

as

restated

£

£

Directors' remuneration

175,477

184,559

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

Money purchase schemes

2

2

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

2025

2024

as

restated

£

£

Depreciation - owned assets

679,355

862,349

Loss on disposal of fixed assets

-

50,371

Auditors' remuneration

12,000

10,000

Foreign exchange differences

404

(440

)