The director presents the strategic report for the year ended 30 September 2025.
The Group delivered a strong financial recovery during the year ended 30 September 2025. Turnover for the year was £13,495,698 (2024 - £14,362,717). Despite a marginal reduction in revenue year-on-year, the Group achieved a significant improvement in profitability, driven by enhanced gross margins, tighter cost control, and improved operational efficiency.
Gross profit increased to £3,308,288 (2024 - £2,673,045), reflecting improved pricing discipline, product mix optimisation, and better control of material and production costs. Administrative expenses were reduced to £2,442,753 (2024 - £2,773,747), demonstrating the benefits of overhead rationalisation and operational restructuring implemented during the year.
As a result, operating profit increased substantially to £879,845 (2024 - (£99,178)), with profit before taxation rising to £1,056,591 (2024 - (£252,403)). This represents a material strengthening of the Group’s financial performance and resilience. The balance sheet remains robust, supported by strong cash generation and disciplined working capital management.
Business Development and Market Position
Throughout the year, the Group continued to operate in a competitive and evolving market environment. Demand for sustainable, low-carbon welfare and power solutions remained a key driver, with customers increasingly focused on environmental compliance, emissions reduction, and total cost of ownership.
The AJC EasyCabin brand continued to supply eco-friendly mobile welfare units to the construction, rail, infrastructure, and events sectors. These products remain critical to customers due to their compliance with Health and Safety Executive (HSE) requirements, alignment with environmental regulations, and contribution to reducing on-site carbon emissions.
The AJC Power Solutions brand continued to expand its range of hybrid, solar-assisted, and energy-efficient power products. Increased adoption of renewable and hybrid technologies supported improved margins and reinforced the Company’s position within the sustainable welfare and power solutions market.
The Group continues to generate revenue through research-driven and innovative products, supported by strong customer relationships developed through direct engagement, responsiveness, and consistent aftersales support.
During the year, the Group made an operational and strategic decision to dispose of its shareholding in Easycabin Limited to existing shareholders in the group as part of a broader review of its portfolio and to focus on its core activities. The disposal was undertaken to streamline operations, reallocate resources more efficiently, and enhance long-term shareholder value. The transaction became effective on 1 September 2025. In accordance with the requirements of FRS 102, Easycabin Limited was consolidated within the Group financial statements up to the date on which control ceased. From that date, the results of Easycabin Limited have been excluded from consolidation. As at the year end of 30 September 2025, Easycabin Limited no longer forms part of the Group.
The principal risks and uncertainties the Group face include fluctuations in raw material costs, particularly steel and electronic components, which may impact margins. Supply chain disruption remains a risk due to supplier capacity and global logistics challenges. Regulatory change, particularly in relation to environmental and emissions legislation, may affect product design and demand.
The Group also faces increasing competition within the welfare cabin and green energy sectors, alongside the need to continuously invest in technological development to remain competitive.
Liquidity risk is managed through prudent cash flow forecasting, controlled use of overdraft facilities, and selective debt factoring. Trade debtor risk is mitigated through robust credit control procedures and regular monitoring of customer balances. Trade creditor liquidity is managed to ensure obligations are met as they fall due.
Liquidity risk is managed by maintaining a balance between stable funding and flexibility, utilising overdrafts and debt factoring at floating interest rates. Trade debtor risk is mitigated through credit policies and regular monitoring of outstanding balances, with provisions made for doubtful debts where necessary. Trade creditor liquidity is managed by ensuring sufficient funds are available to meet obligations as they fall due.
The directors monitor the following key performance indicators to assess performance and strategic progress:
· Profitability – significant improvement in operating and pre-tax profit during the year
· Gross margin – improved through product mix optimisation and cost control
· Overhead efficiency – reduction in administrative expenses year-on-year
· Operational efficiency – improved production discipline and cost management
· Product development – continued investment in hybrid and solar-powered solutions
Future Outlook
The directors remain cautiously optimistic about the Group’s prospects for the year ahead. Demand for sustainable welfare and power solutions is expected to strengthen as customers respond to tightening environmental regulation and increasing focus on emissions reduction and total cost of ownership.
The Group will continue to prioritise margin-led growth, focusing on pricing discipline, operational efficiency, and product mix rather than volume alone. Further benefits are expected from the cost control measures and operational improvements implemented during the 2024 and 2025 financial years.
Ongoing investment in product development, particularly in hybrid, solar-assisted, and energy-efficient solutions, will remain a strategic priority. The Group will also continue to strengthen supply chain resilience, improve production planning, and enhance aftersales support to protect customer satisfaction and long-term relationships.
While macroeconomic uncertainty and supply chain pressures remain, the directors believe the Group is well positioned, with a strong balance sheet, improving profitability, and a clear strategic focus, to support continued stability and sustainable growth in the medium term.
On behalf of the board
The director presents his annual report and financial statements for the year ended 30 September 2025.
The results for the year are set out on page 10.
Ordinary dividends were paid amounting to £246,000 (2024: £159,000). The director does not recommend payment of a final dividend.
The director who held office during the year and up to the date of signature of the financial statements was as follows:
The objective of the group in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due.
Due to the nature of the business and prevailing market conditions, payment collection can be challenging. The group mitigates this risk by assessing customers’ creditworthiness prior to accepting orders, enforcing strict payment terms, and ensuring that all debts exceeding normal limits are regularly reviewed by management. Where necessary, customer assessments may result in deposits being required before production commences.
Research and development (R&D) remain at the core of the group's strategy for its two brands, AJC EasyCabin and AJC Power Solutions’, to maintain a competitive edge. Significant efforts have been made to enhance the efficiency and sustainability of the group's welfare units and power solutions. This includes research into advanced battery systems, hybrid power integration, and energy storage, all aimed at reducing fuel consumption and emissions. During the year the focus was on building on our current technology resulting in immaterial expenditure in new R&D. However, the R&D team continues to innovate in the design and technology behind welfare units, ensuring they are not only environmentally friendly but also user-focused and efficient in operation and the expectations of the group are for R&D to return to historic levels in the near future. These advancements reflect the group's commitment to driving innovation in line with industry trends and customer needs.
Looking forward, the group with its two brands, AJC EasyCabin and AJC Power Solutions, plan to continue investing in the development of more sustainable and efficient products. Both brands are committed to advancing their renewable energy solutions, with a particular focus on integrating solar power, battery storage, and hybrid technologies into their welfare and power units. Additionally, the group aims to expand its market reach, potentially entering new geographical territories to capitalise on the global push for greener, more sustainable industrial practices. Product diversification and enhancing the digital functionality of welfare units and generators are also key areas of focus for future development, aimed at addressing both customer demand and environmental regulations.
A resolution to reappoint Xeinadin Audit Limited as auditors will be put to the members at the Annual General Meeting.
This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the medium-sized companies exemption.
United Kingdom company law requires the director to prepare financial statements for each financial year. Under that law, the director has elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of EasyCabin Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and 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 director with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the director's report have been prepared in accordance with applicable legal requirements.
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.
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 and whether the financial results of our client differed from industry trends;
the legal and regulatory framework that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements;
the matters discussed among the audit engagement team during the planning process regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
Audit procedures performed included reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; discussions with the directors on their own assessment of the risks that irregularities may occur either as a result of fraud or error, their assessment of compliance with laws and regulations and whether they were aware of any instances of non-compliance, including any potential litigation or claims;performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting business rationale of any significant transactions that are unusual or outside the normal course of business.
As a result of our assessment, it is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business. However, laws and regulations considered to have a direct effect on the financial statements included the UK Companies Act, Employment Laws, Tax and Pensions legislation and Health and Safety legislation.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls , and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. There is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £150,067 (2024 - £102,077 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
EasyCabin Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, Colindale, London, United Kingdom, NW9 6BX.
The group consists of EasyCabin Holdings Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption from the disclosure requirements of Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures for the individual entity as the consolidated statement of cash flows includes the company.
The consolidated group financial statements consist of the financial statements of the parent company EasyCabin Holdings Limited together with all entities controlled by the parent company (its subsidiaries) as if they form a single entity.
All financial statements are made up to 30 September 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
The group attributes total comprehensive income or loss of subsidiaries between the owners of the parent and non-controlling interests based on their respective ownership interests.
All subsidiaries have been included in the consolidation.
At the time of approving the financial statements, the director has a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
Individual freehold and leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss are recognised in profit or loss.
Interests in subsidiary undertakings are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
The 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 net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
Research and development and patent expenditure
Expenditure on research and development and patents is written off in the year in which it is incurred.
In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where 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.
Finished goods and work in progress are valued based on actual raw materials and labour costs, applied proportionally to the stage of completion. Management considers this approach appropriate and reflective of the costs incurred to bring the inventory to its present condition and location. The valuation is reviewed regularly to ensure it remains reasonable.
Depreciation is provided so as to write down the assets to their residual values over their estimated useful lives, as set out in the group's accounting policy. The selection of these estimated lives requires the exercise of management judgement. Useful lives are regularly reviewed and should management's assessment of useful lives shorten, then depreciation charges in the financial statements would increase and carrying amounts of property, plant and equipment would reduce accordingly.
The company holds freehold properties measured at fair value. The director determines this fair value annually. During the year, management obtained an independent professional valuation report. The director exercised significant judgement in concluding that the primary comparable properties utilised by the independent valuer did not adequately reflect the specific characteristics, condition, and commercial utility of the company’s properties. Consequently, the director judged that the specific point-estimate provided in the valuation report understated the properties true fair value, and elected to assess the value based on alternative inputs, guided by the upper parameters of the valuation range provided.
An analysis of the group's turnover is as follows:
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).
Management deem the directors included in the above analysis to be the only key management personnel within the entity, total remuneration to the key management personnel in the year was £94,840 (2024 - £94,092) inclusive of employers national insurance contributions.
The other gains above resulted from the disposal of the subsidiary during the year.
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:
Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:
The company's freehold properties are carried at fair value. The fair value was determined by the director as at 30 September 2025.
To assist in this assessment, the directors commissioned an independent valuation by S.R. Wood & Son, a firm of independent chartered surveyors on 8 July 2025. The professional valuation noted a high degree of market variance and provided a range of potential fair values for the properties, the upper end of which aligned with the properties existing carrying amount.
The director reviewed the valuation report and concluded that the specific point-estimate recommended by the valuer was based on market comparables that did not accurately reflect the specific nature, location, and operational potential of the company's assets. Therefore, relying on their distinct knowledge of the property and utilising the upper limit of the independently provided valuation range, the directors have assessed the fair value of the properties at £4,555,950 No revaluation gain or deficit has been recognised in the current year.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Details of the company's subsidiaries at 30 September 2025 are as follows:
Easycabin Limited was held as an indirect 50% shareholding through A.J.C Trailers Limited. It was classed as a subsidiary undertaking and consolidated due to being under effective control of the Group via both directorship and common shareholdings. A 50% non-controlling interest had been recognised in respect of this entity.
On 1 September 2025, A.J.C Trailers Limited transferred its entire shareholding in Easycabin Limited to related parties. Accordingly, Easycabin Limited ceased to be a subsidiary undertaking of the Group from that date and has been deconsolidated. The results of Easycabin Limited have been included in the consolidated financial statements up to the date of disposal.
During the year, no impairment provisions have been made against any class of debtors.
Details of security provided:
Bank loans for specific assets are secured over the assets to which they relate while general business loans are secured via fixed and floating charge over the company assets.
Hire purchase liabilities are secured over the individual assets to which they relate.
Discounted debts are secured via a fixed and floating charge over the assets of the Group in favour of National Westminster Bank Plc.
Bank loans in the form of mortgages are secured over the properties to which they relate while general business loans are secured via fixed and floating charge over the company assets.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The company and group both have tax losses carried forward of £516,457 (2024 - £459,081 and £746,749 respectively). Deferred tax asset has not been provided on these losses due to uncertainty over the timing of future taxable profits against which they can be utilised.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
Comprises of the non distributable upward valuations on the Group assets, as well as the related deferred tax on the temporary difference.
Profit and loss account
Comprises of the Group current and prior period retained profits and losses less distributions declared, all of which are distributable reserves.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The company and group has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with wholly owned subsidiary undertaking within that group.
During the year, Easycabin Holdings Limited paid dividends of £246,000 (2024 - £159,000) to its shareholders.
Additionally, the Group paid rent to a related company that the director has a material interest in of £25,000 (2024 - £10,800).
At the year end, an amount of £355,836 (2024 - £344,960) was due to the Group from a close related party. Interest is charged on this balance at a rate of 3.75% per annum. Repayment terms are contingent on the sale of the underlying property to which this loan is secured.
Included within debtors are amounts due from related companies of £1,441,336 (2024 - £1,654,205). These balances relate to entities that the director has a material interest in and are interest free and repayable on demand.
A directors loan account debtor of £225,626 (2024 - creditor of £368,920) is owed through the subsidiary entity. This amount incurs interest at a market rate and will be repaid within 9 months of the year end.