REGISTERED NUMBER: 02810043 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 November 2025

for

CAPITOL ENGINEERING SERVICES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

9

Statement of Financial Position

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

DIRECTORS:

G J Marchesi

A C Trevenna

P J Gardiner

P J Godfrey

M M McCormack

SECRETARY:

G J Marchesi

REGISTERED OFFICE:

Capitol House

232 Tolworth Rise South

Tolworth

Surrey

KT5 9ND

REGISTERED NUMBER:

02810043 (England and Wales)

AUDITORS:

BDA Associates Limited

Statutory Auditor

Chartered Accountants

Global House

1 Ashley Avenue

Epsom

Surrey

KT18 5AD

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

REVIEW OF BUSINESS

The business has delivered a strong performance over the past financial year, building successfully on the solid foundations established in the previous period. Revenue increased by approximately 9%, reflecting both sustained demand from our client base and the effectiveness of our operational strategy. In addition, we achieved an improvement in gross margin from 22% to 24%, demonstrating enhanced cost control and greater operational efficiency.

As a result of these factors, net profit has risen significantly from 4.5% to 7%. This improvement in profitability has been driven primarily by the implementation of more robust systems and processes, which have increased overall productivity across the organisation. Enhanced operational efficiency has, in turn, enabled us to deliver a higher standard of service, ensuring that all customer key performance indicators (KPIs) are consistently met or exceeded.

Overall, the results achieved during the year are fully in line with the expectations set by the Board of Directors and reflect the continued strength and resilience of the business.

Our strategic focus remains centred on customer retention, recognising the value of long-term partnerships. Growth initiatives are targeted at expanding the range and depth of enhanced services offered to our existing client base, allowing us to increase value while maintaining strong, collaborative relationships.

The company continues to operate through a clearly defined divisional structure. Each division is led by a Director and supported by a Manager, both of whom are responsible for overseeing resource allocation, service delivery, and divisional profitability. Managers are supported by a centralised finance function, which provides comprehensive weekly and monthly performance reports. These reports are reviewed in detail and form a key part of the discussions held at monthly Board meetings, ensuring effective oversight and informed decision-making at all levels.

PRINCIPAL RISKS AND UNCERTAINTIES

With over 33 years of trading history, the business has developed a well-established and stable client base, primarily comprising large UK-based organisations with strong reputations and proven track records. Divisional Managers maintain regular and proactive communication with their counterparts within client organisations, ensuring alignment, responsiveness, and the ability to address any issues promptly.

The principal risks facing the business continue to relate to the maintenance of strong client relationships and the retention and motivation of our workforce. We recognise that our employees are fundamental to the delivery of high-quality service, and we are committed to ensuring they are appropriately recognised, supported, and rewarded. As a result of this focus, the business continues to benefit from a consistently low level of staff attrition.

Credit control remains a critical area of focus. Robust procedures are in place to monitor outstanding balances, and any potential bad debts are escalated promptly to senior management for immediate action. We are pleased to report that the company has not incurred any bad debt over the past four financial years, reflecting the strength of our client base and the effectiveness of our credit management processes.

Our clients operate predominantly within the Retail and Commercial sectors, both of which have historically demonstrated resilience in the face of broader economic fluctuations. The services we provide are integral to their day-to-day operations, further strengthening the stability of demand. In the event of a significant downturn, the business maintains a highly flexible workforce model, enabling us to scale operations efficiently in line with changing requirements and to protect overall performance.

ON BEHALF OF THE BOARD:

G J Marchesi - Director

22 April 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of heating, ventilation and air conditioning maintenance and installation.

DIVIDENDS

No dividends will be distributed for the year ended 30 November 2025.

DIRECTORS

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

G J Marchesi

A C Trevenna

P J Gardiner

P J Godfrey

Other changes in directors holding office are as follows:

M P Marchesi - deceased 28 April 2025

M M McCormack was appointed as a director after 30 November 2025 but prior to the date of this report.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

G J Marchesi - Director

22 April 2026

Opinion

We have audited the financial statements of Capitol Engineering Services Limited (the 'company') for the year ended 30 November 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 November 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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:

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

The extent to which the audit was considered capable of detecting irregularities including fraud -

Our approach to identifying and assessing the risks 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 discussions with directors and other management, and from our commercial knowledge and experience of the industry in which the business operates,

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and 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 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 override 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 were 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, 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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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.

Rajesh Amin (Senior Statutory Auditor)

for and on behalf of BDA Associates Limited

Statutory Auditor

Chartered Accountants

Global House

1 Ashley Avenue

Epsom

Surrey

KT18 5AD

22 April 2026

REVENUE

16,653,563

15,303,475

Cost of sales

(12,599,719

)

(11,946,995

)

GROSS PROFIT

4,053,844

3,356,480

Administrative expenses

(3,217,273

)

(2,641,250

)

OPERATING PROFIT

4

836,571

715,230

Interest receivable and similar income

30,387

35,549

866,958

750,779

Interest payable and similar expenses

5

(78,355

)

(55,118

)

PROFIT BEFORE TAXATION

788,603

695,661

Tax on profit

6

(220,968

)

(196,539

)

PROFIT FOR THE FINANCIAL YEAR

567,635

499,122

Retained earnings at beginning of year

3,359,202

2,860,080

RETAINED EARNINGS AT END OF YEAR

3,926,837

3,359,202

FIXED ASSETS

Property, plant and equipment

7

1,102,642

1,072,988

CURRENT ASSETS

Debtors

8

4,342,305

3,607,179

Cash at bank

2,869,111

2,492,737

7,211,416

6,099,916

CREDITORS

Amounts falling due within one year

9

3,689,330

2,957,577

NET CURRENT ASSETS

3,522,086

3,142,339

TOTAL ASSETS LESS CURRENT LIABILITIES

4,624,728

4,215,327

CREDITORS

Amounts falling due after more than one year

10

(418,837

)

(585,800

)

PROVISIONS FOR LIABILITIES

12

(255,052

)

(246,323

)

NET ASSETS

3,950,839

3,383,204

CAPITAL AND RESERVES

Called up share capital

13

24,002

24,002

Retained earnings

14

3,926,837

3,359,202

SHAREHOLDERS' FUNDS

3,950,839

3,383,204

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

G J Marchesi - Director

Cash flows from operating activities

Cash generated from operations

1

1,174,276

1,026,351

Interest element of hire purchase payments paid

(78,355

)

(55,118

)

Tax paid

(162,026

)

(63,239

)

Net cash from operating activities

933,895

907,994

Cash flows from investing activities

Purchase of tangible fixed assets

(515,416

)

(493,063

)

Sale of tangible fixed assets

39,060

51,031

Interest received

30,387

35,549

Net cash from investing activities

(445,969

)

(406,483

)

Cash flows from financing activities

Loans to related parties

(126,640

)

(64,792

)

Capital repayments in year

15,088

135,850

Net cash from financing activities

(111,552

)

71,058

Increase in cash and cash equivalents

376,374

572,569

Cash and cash equivalents at beginning of year

2

2,492,737

1,920,168

Cash and cash equivalents at end of year

2

2,869,111

2,492,737

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

30.11.25

30.11.24

£

£

Profit before taxation

788,603

695,661

Depreciation charges

467,096

360,609

Profit on disposal of fixed assets

(20,395

)

(51,031

)

Finance costs

78,355

55,118

Finance income

(30,387

)

(35,549

)

1,283,272

1,024,808

Increase in trade and other debtors

(188,348

)

(454,257

)

Increase in trade and other creditors

79,352

455,800

Cash generated from operations

1,174,276

1,026,351

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 November 2025

30.11.25

1.12.24

£

£

Cash and cash equivalents

2,869,111

2,492,737

Year ended 30 November 2024

30.11.24

1.12.23

£

£

Cash and cash equivalents

2,492,737

1,920,168

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.24

Cash flow

At 30.11.25

£

£

£

Net cash

Cash at bank

2,492,737

376,374

2,869,111

2,492,737

376,374

2,869,111

Debt

Finance leases

(990,104

)

(15,088

)

(1,005,192

)

(990,104

)

(15,088

)

(1,005,192

)

Total

1,502,633

361,286

1,863,919

1.	STATUTORY INFORMATION

Capitol Engineering Services 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 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.

Significant judgements and estimates

In the process of applying its accounting policies, the company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented. On an ongoing basis, the company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.

Turnover

Turnover is measured at 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.

Plant and machinery

-

33% on cost

Motor vehicles

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern

The directors have considered the ability of the company to generate sufficient cashflows to continue its operation and meet obligations as they fall due, with reference to existing cash and funding resources, forecast known and expected income levels and known and planned cash commitments.

The directors have concluded that the company is a going concern. In this assessment, the directors have paid particular attention and placed emphasis on the period of twelve months after the date of this report.

3.	EMPLOYEES AND DIRECTORS

30.11.25

30.11.24

£

£

Wages and salaries

4,435,479

4,168,239

Social security costs

534,033

458,734

Other pension costs

74,457

77,411

5,043,969

4,704,384

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

30.11.25

30.11.24

Technical

58

56

Administration

29

27

87

83

30.11.25

30.11.24

£

£

Directors' remuneration

373,931

412,440

Information regarding the highest paid director is as follows:

30.11.25

30.11.24

£

£

Emoluments etc

120,087

115,600

4.	OPERATING PROFIT

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

30.11.25

30.11.24

£

£

Depreciation - owned assets

467,097

360,609

Profit on disposal of fixed assets

(20,395

)

(51,031

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.11.25

30.11.24

£

£

Hire purchase interest

78,355

55,118

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30.11.25

30.11.24

£

£

Current tax:

UK corporation tax

212,239

162,026

Deferred tax

8,729

34,513

Tax on profit

220,968

196,539

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.11.25

30.11.24

£

£

Profit before tax

788,603

695,661

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

197,151

173,915

Effects of:

Expenses not deductible for tax purposes

23,817

22,624

Capital allowances in excess of depreciation

(8,729

)

(34,513

)

Movement in deferred taxation

8,729

34,513

Total tax charge

220,968

196,539

7.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2024

6,374

2,081,294

2,087,668

Additions

-

515,416

515,416

Disposals

-

(271,701

)

(271,701

)

At 30 November 2025

6,374

2,325,009

2,331,383

DEPRECIATION

At 1 December 2024

6,374

1,008,306

1,014,680

Charge for year

-

467,097

467,097

Eliminated on disposal

-

(253,036

)

(253,036

)

At 30 November 2025

6,374

1,222,367

1,228,741

NET BOOK VALUE

At 30 November 2025

-

1,102,642

1,102,642

At 30 November 2024

-

1,072,988

1,072,988

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

3,754,614

3,589,935

Amounts due from related parties

546,778

-

Other debtors

20,970

17,244

Prepayments and accrued income

19,943

-

4,342,305

3,607,179

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Hire purchase contracts (see note 11)

586,355

404,304

Trade creditors

1,705,518

1,626,022

Amounts owed to related parties

504,400

84,263

Corporation tax

212,239

162,026

Social security & other tax

166,194

177,150

VAT

359,249

318,390

Accruals and deferred income

155,375

185,422

3,689,330

2,957,577

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Hire purchase contracts (see note 11)

418,837

585,800

11.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.25

30.11.24

£

£

Net obligations repayable:

Within one year

586,355

404,304

Between one and five years

418,837

585,800

1,005,192

990,104

12.	PROVISIONS FOR LIABILITIES

30.11.25

30.11.24

£

£

Deferred tax

255,052

246,323

Deferred

tax

£

Balance at 1 December 2024

246,323

Provided during year

8,729

Balance at 30 November 2025

255,052

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

24,002

Ordinary

£1

24,002

24,002

14.

RESERVES

Retained

earnings

£

At 1 December 2024

3,359,202

Profit for the year

567,635

At 30 November 2025

3,926,837

15.	RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence

30.11.25

30.11.24

£

£

Sales

104,881

213,805

Purchases

1,311,519

831,342

Amount due from related parties

546,778

-

Amount due to related parties

504,400

84,263

16.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G J Marchesi.