REGISTERED NUMBER: 09784864 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

CHESS P H LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Income and Retained Earnings

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Cash Flow Statement

12

Notes to the Consolidated Cash Flow Statement

13

Notes to the Consolidated Financial Statements

14

DIRECTORS:

Mr G D Olden

Mr G Olden

REGISTERED OFFICE:

Unit 2 George Baylis Road

Berry Hill Industrial Estate

Droitwich

Worcestershire

WR9 9RB

REGISTERED NUMBER:

09784864 (England and Wales)

AUDITORS:

E R Grove & Co Limited

Chartered Accountants and Statutory Auditors

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The directors present their strategic report of the company and the group for the year ended 30 September 2025.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and complexity of our business and is written in the context of the risks and uncertainties that we face. The principal activities of the group during the year remained that of manufacturing and trading of plastics and allied products. The main operating facility continues to be based in Droitwich.

We consider that our key performance indicators are those that communicate the financial performance and strength of the group as a whole and some of these are set out below:

2025

2024

Sales growth

-4.1%

-4.1%

Gross margin

£1,586,620

£1,834,530

Gross profit %

15.7%

17.4%

Profit/(loss) after tax

£(38,068

)

£4,218

The group's been facing a challenging operating environment, and the financial results for the year reflect these difficulties. Despite the best efforts of our skilled and experienced professionals, the group experienced a decline in revenue and profitability. After the impact of covid the trading performance significantly improved in 2021 due to the bounce back effect from lockdown and the high demand for products. However, for the last four years the group's turnover has dropped, in 2025 it dropped by 4.1% (2024: 4.1%) as demand has now fallen back to normal levels.

The group has continued to experience price increases in polymers, energy and transport. Sales prices have been increased to absorb some of these costs, however due to increasing costs this year's gross profit margin has fallen to 15.7% (2024: 17.4%).

In this coming year, the group is expecting profitability to remain under pressure due to the risk and uncertainty surrounding the war in Ukraine and the current levels of high inflation being experienced in the UK. Polymer prices have continued to increase along with the continuing energy price rises.

Future Developments

The group continues to invest in improvements to its moulding facilities, increasing production capacity and making production more efficient. During the year the group had problems with its electrical transformer and had to invest in a new one in order to continue with production.

The group's balance sheet as detailed on page 9 shows a healthy position with equity shareholders' funds of £2,943,752 (2024: £2,982,819). The overall order book remains healthy and the board believes that the continued investment in plant will further strengthen the group's ability to increase market share.

Outlook after the year end

We anticipate the business environment will remain competitive and believe that the group is in a good financial position and that the risks that have been identified are being well managed. With careful focus on new markets and new products, as well as continuing to review the state of the market and the activities of competitors, we are confident in the group's ability to maintain and build on the current position.

Going concern

The directors have considered the financial position of the group which shows healthy reserves and cash balances. They have not identified any material uncertainties that may cast significant doubt over the ability of the group to continue as a going concern for the foreseeable future, which is deemed to be at least 12 months from the date of signing these accounts. In forming their opinion, they have considered current and anticipated turnover, profit and cashflow.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the group's operations.

In respect of bank balances, the liquidity risk is managed by the continuity of funding and through the potential use of overdrafts at floating rates of interest. All of the group's cash balances are held in such a way that achieves a competitive rate of interest but with no risk to capital loss.

Trade debtors are managed in respect of credit offered to customers and monitoring of amounts outstanding. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity risk is managed by ensuring that sufficient funds are available to meet amounts due.

ON BEHALF OF THE BOARD:

Mr G D Olden - Director

14 April 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company. The principal activity of the group was the manufacture and sale of plastic moulded products.

DIVIDENDS

The total distribution of dividends for the year ended 30 September 2025 will be £ 1,000 .

RESEARCH AND DEVELOPMENT

The group continues to commit resources to research and development where this activity is necessary to the evolution of its business and in order to keep at the forefront of the marketplace.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

Mr G D Olden

Mr G Olden

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, E R Grove & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr G D Olden - Director

14 April 2026

Opinion

We have audited the financial statements of Chess P H Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 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 30 September 2025 and of the group's 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 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 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 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 gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, and considered the risks of acts by the Company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with the Companies Act 2006, the principles of United Kingdom Generally Accepted Accounting Practice and tax legislation.

We designed audit procedures to respond to the risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

We focused on laws and regulations that could give rise to a material misstatement in the Company financial statements. Our tests included, but were not limited to:

- agreement of the financial statement disclosures to underlying supporting documentation;

- enquiries of management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- review of minutes of Directors' board meetings throughout the year; and

- obtaining an understanding of the control environment in monitoring compliance with laws and regulations.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We also addressed the risk of management override of internal controls, including testing journals, assessing and challenging the accounting estimates made and evaluating whether there was evidence of bias by the Directors that represented a risk of material misstatement due to fraud.

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.

Steven Lomas (Senior Statutory Auditor)

for and on behalf of E R Grove & Co Limited

Chartered Accountants and Statutory Auditors

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

14 April 2026

TURNOVER

3

10,111,428

10,543,385

Cost of sales

8,524,808

8,708,855

GROSS PROFIT

1,586,620

1,834,530

Administrative expenses

1,623,351

1,846,294

(36,731

)

(11,764

)

Other operating income

27,177

78,776

OPERATING (LOSS)/PROFIT

5

(9,554

)

67,012

Interest receivable and similar income

5,597

6,268

(3,957

)

73,280

Interest payable and similar expenses

6

40,194

51,840

(LOSS)/PROFIT BEFORE TAXATION

(44,151

)

21,440

Tax on (loss)/profit

7

(6,084

)

17,222

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(38,067

)

4,218

Retained earnings at beginning of year

2,962,319

2,960,101

Dividends

9

(1,000

)

(2,000

)

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR

2,923,252

2,962,319

(Loss)/profit attributable to:

Owners of the parent

(38,067

)

4,218

FIXED ASSETS

Tangible assets

10

2,802,602

3,017,554

Investments

11

-

-

2,802,602

3,017,554

CURRENT ASSETS

Stocks

12

526,775

387,152

Debtors

13

1,580,890

1,303,240

Cash at bank and in hand

686,251

1,062,009

2,793,916

2,752,401

CREDITORS

Amounts falling due within one year

14

2,065,786

1,923,791

NET CURRENT ASSETS

728,130

828,610

TOTAL ASSETS LESS CURRENT LIABILITIES

3,530,732

3,846,164

CREDITORS

Amounts falling due after more than one year

15

(276,542

)

(514,627

)

PROVISIONS FOR LIABILITIES

19

(310,438

)

(348,718

)

NET ASSETS

2,943,752

2,982,819

CAPITAL AND RESERVES

Called up share capital

20

20,500

20,500

Retained earnings

21

2,923,252

2,962,319

SHAREHOLDERS' FUNDS

2,943,752

2,982,819

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2026 and were signed on its behalf by:

Mr G D Olden - Director

FIXED ASSETS

Tangible assets

10

1,344,699

1,375,819

Investments

11

20,500

20,500

1,365,199

1,396,319

CURRENT ASSETS

Debtors

13

3,812

3,812

Cash at bank

51,210

25,046

55,022

28,858

CREDITORS

Amounts falling due within one year

14

370,648

262,137

NET CURRENT LIABILITIES

(315,626

)

(233,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,049,573

1,163,040

CREDITORS

Amounts falling due after more than one year

15

199,337

324,027

NET ASSETS

850,236

839,013

CAPITAL AND RESERVES

Called up share capital

20

20,500

20,500

Retained earnings

21

829,736

818,513

SHAREHOLDERS' FUNDS

850,236

839,013

Company's profit for the financial year

12,223

2,219

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2026 and were signed on its behalf by:

Mr G D Olden - Director

Cash flows from operating activities

Cash generated from operations

1

64,976

622,494

Interest paid

(17,878

)

(27,732

)

Interest element of hire purchase payments paid

(22,316

)

(24,108

)

Tax paid

(40,771

)

(19,486

)

Net cash from operating activities

(15,989

)

551,168

Cash flows from investing activities

Purchase of tangible fixed assets

(70,663

)

(122,158

)

Interest received

5,597

6,268

Net cash from investing activities

(65,066

)

(115,890

)

Cash flows from financing activities

Loan repayments in year

(133,712

)

(139,979

)

Capital repayments in year

(148,391

)

(156,402

)

Amount introduced by directors

43,400

55,000

Amount withdrawn by directors

(55,000

)

(4,000

)

Equity dividends paid

(1,000

)

(2,000

)

Net cash from financing activities

(294,703

)

(247,381

)

(Decrease)/increase in cash and cash equivalents

(375,758

)

187,897

Cash and cash equivalents at beginning of year

2

1,062,009

874,112

Cash and cash equivalents at end of year

2

686,251

1,062,009

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

2025

2024

£

£

(Loss)/profit before taxation

(44,151

)

21,440

Depreciation charges

285,614

313,009

Loss on disposal of fixed assets

-

16,737

Finance costs

40,194

51,840

Finance income

(5,597

)

(6,268

)

276,060

396,758

(Increase)/decrease in stocks

(139,623

)

161,137

(Increase)/decrease in trade and other debtors

(277,650

)

197,750

Increase/(decrease) in trade and other creditors

206,189

(133,151

)

Cash generated from operations

64,976

622,494

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 September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

686,251

1,062,009

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

1,062,009

874,112

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash at bank and in hand

1,062,009

(375,758

)

686,251

1,062,009

(375,758

)

686,251

Debt

Finance leases

(377,340

)

148,391

(228,949

)

Debts falling due within 1 year

(82,975

)

9,023

(73,952

)

Debts falling due after 1 year

(324,027

)

124,690

(199,337

)

(784,342

)

282,104

(502,238

)

Total

277,667

(93,654

)

184,013

1.	STATUTORY INFORMATION

Chess P H 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 General 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 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.

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between 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 acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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

-Useful economic lives of tangible assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values.

-Stock provision

The company manufactures plastic products. As a result, it is necessary to consider recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated sale of finished goods and future usage of raw materials.

-Trade debtors

Trade debtors consist of amounts due from customers. The amounts presented in the balance sheet are net of allowances for doubtful debts, estimated by the company's management based on prior experience and their assessment of the current economic environment.

Turnover

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

Turnover is recognised once the principal benefits and risks have passed to the customer, in particular that the goods are available and ready for delivery, and therefore legal title to the stock has passed.

Rental income is billed in advance and then allocated to the appropriate period. Rental income is measured as the fair value of the consideration received or receivable , excluding value added tax.

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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

The carrying value of freehold property is not materially different to market value based on an open market valuation.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

9,309,370

9,824,908

Europe

802,058

718,477

10,111,428

10,543,385

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,921,833

2,792,169

Social security costs

306,449

275,434

Other pension costs

43,488

142,063

3,271,770

3,209,666

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

2025

2024

Production

57

58

Administration

11

11

68

69

2025

2024

£

£

Directors' remuneration

494,062

526,260

Directors' pension contributions to money purchase schemes

2,532

76,311

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

251,398

272,914

Pension contributions to money purchase schemes

1,211

58,100

5.	OPERATING (LOSS)/PROFIT

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

2025

2024

£

£

Depreciation - owned assets

192,176

181,414

Depreciation - assets on hire purchase contracts

93,439

131,595

Loss on disposal of fixed assets

-

16,737

Auditors' remuneration

15,500

15,500

Foreign exchange differences

1,377

32

Operating lease charges

101,465

111,077

Government grants - revenue in nature

11,177

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

17,934

27,877

Other interest

(56

)

(145

)

Hire purchase

22,316

24,108

40,194

51,840

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

32,196

40,764

(Under)/over provision

-

1,924

Total current tax

32,196

42,688

Deferred tax

(38,280

)

(25,466

)

Tax on (loss)/profit

(6,084

)

17,222

UK corporation tax has been charged at 25 % (2024 - 25 %).